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FEMA’s help for Alaska Natives had mistranslations, nonsense

ANCHORAGE, Alaska (AP) — After tidal surges and high winds from the remnants of a rare typhoon caused extensive damage to homes along Alaska’s western coast in September, the U.S. government stepped in to help residents — largely Alaska Natives — repair property damage.

Residents who opened Federal Emergency Management Agency paperwork expecting to find instructions on how to file for aid in Alaska Native languages like Yup’ik or Inupiaq instead were reading bizarre phrases.

“Tomorrow he will go hunting very early, and will (bring) nothing,” read one passage. The translator randomly added the word “Alaska” in the middle of the sentence.

“Your husband is a polar bear, skinny,” another said.

Yet another was written entirely in Inuktitut, an Indigenous language spoken in northern Canada, far from Alaska.

FEMA fired the California company hired to translate the documents once the errors became known, but the incident was an ugly reminder for Alaska Natives of the suppression of their culture and languages from decades past.

FEMA immediately took responsibility for the translation errors and corrected them, and the agency is working to make sure it doesn’t happen again, spokesperson Jaclyn Rothenberg said. No one was denied aid because of the errors.

That’s not good enough for one Alaska Native leader.

For Tara Sweeney, an Inupiaq who served as an assistant secretary of Indian Affairs in the U.S. Interior Department during the Trump administration, this was another painful reminder of steps taken to prevent Alaska Native children from speaking Indigenous languages.

““Your husband is a polar bear, skinny.””

Translated FEMA aid paperwork

“When my mother was beaten for speaking her language in school, like so many hundreds, thousands of Alaska Natives, to then have the federal government distributing literature representing that it is an Alaska Native language, I can’t even describe the emotion behind that sort of symbolism,” Sweeney said.

Sweeney called for a congressional oversight hearing to uncover how long and widespread the practice has been used throughout government.

“These government contracting translators have certainly taken advantage of the system, and they have had a profound impact, in my opinion, on vulnerable communities,” said Sweeney, whose great-grandfather, Roy Ahmaogak, invented the Inupiaq alphabet more than a half-century ago.

She said his intention was to create the characters so “our people would learn to read and write to transition from an oral history to a more tangible written history.”

U.S. Rep. Mary Peltola, who is Yup’ik and last year became the first Alaska Native elected to Congress, said it was disappointing FEMA missed the mark with these translations but didn’t call for hearings.

“I am confident FEMA will continue to make the necessary changes to be ready the next time they are called to serve our citizens,” the Democrat said.

About 1,300 people have been approved for FEMA assistance after the remnants of Typhoon Merbok created havoc as it traveled about 1,000 miles (1,609 kilometers) north through the Bering Strait, potentially affecting 21,000 residents. FEMA has paid out about $6.5 million, Rothenberg said.

Preliminary estimates put overall damage at just over $28 million, but the total is likely to rise after more assessment work is done after the spring thaw, said Jeremy Zidek, a spokesperson for the Alaska Department of Homeland Security and Emergency Management.

The poorly translated documents, which did not create delays or problems, were a small part of efforts to help people register for FEMA assistance in person, online and by phone, Zidek said.

Another factor is that while English may not be the preferred language for some residents, many are bilingual and can struggle through an English version, said Gary Holton, a University of Hawaii at Manoa linguistics professor and a former director of the Alaska Native Language Center at the University of Alaska Fairbanks.

Central Alaskan Yup’ik is the largest of the Alaska Native languages, with about 10,000 speakers in 68 villages across southwest Alaska. Children learn Yup’ik as their first language in 17 of those villages. There are about 3,000 Inupiaq speakers across northern Alaska, according to the language center.

It appears the words and phrases used in the translated documents were taken from Nikolai Vakhtin’s 2011 edition of “Yupik Eskimo Texts from the 1940s,” said John DiCandeloro, the language center’s archivist.

The book is the written record of field notes collected on Russia’s Chukotka Peninsula across the Bering Strait from Alaska in the 1940s by Ekaterina Rubtsova, who interviewed residents about their daily life and culture for a historical account.

The works were later translated and made available on the language center’s website, which Holton used to investigate the origin of the mistranslated texts.

Many of the languages from the area are related but with differences, just as English is related to French or German but is not the same language, Holton said.

Holton, who has about three decades experience in Alaska Native language documentation and revitalization, searched the online archive and found “hit after hit,” words pulled right out of the Russian work and randomly placed into FEMA documents.

“They clearly just grabbed the words from the document and then just put them in some random order and gave something that looked like Yup’ik but made no sense,” he said, calling the final product a “word salad.”

He said it was offensive that an outside company appropriated the words people 80 years ago used to memorialize their lives.

“These are people’s grandparents and great-grandparents that are knowledge-keepers, are elders, and their words which they put down, expecting people to learn from, expecting people to appreciate, have just been bastardized,” Holton said.

KYUK Public Media in Bethel first reported the mistranslations.

“We make no excuses for erroneous translations, and we deeply regret any inconvenience this has caused to the local community,” Caroline Lee, the CEO of Accent on Languages, the Berkeley, California-based company that produced the mistranslated documents, said in a statement.

She said the company will refund FEMA the $5,116 it received for the work and conduct an internal review to ensure it doesn’t happen again.

Lee did not respond to follow-up questions, including how the mistaken translations occurred.

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Tesla slashes prices in U.S., Europe to drive demand

2023-01-13T10:04:17Z

A new Tesla Model 3 is shown at a delivery center on the last day of the company’s third quarter, in San Diego, California, September 30, 2019. REUTERS/Mike Blake

Tesla (TSLA.O) has slashed prices on its electric vehicles in the United States and Europe by as much as 20%, extending a strategy of aggressive discounting after missing Wall Street estimates for 2022 deliveries.

The move, which prompted a 3.8% fall in Tesla’s shares in Frankfurt, came after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower vehicle pricing to sustain volume growth at the expense of profit.

The lower pricing across Tesla’s major markets marks a reversal from the strategy the automaker had pursued through much of 2021 and 2022 when orders for new vehicles exceeded supply. Musk acknowledged last year that prices had become “embarrassingly high” and could hurt demand.

The U.S. price cuts, announced late Thursday in U.S. time on the Model 3 sedan and Model Y crossover SUV, ranged between 6% and 20% compared with prices before the discount, according to Reuters calculations.

That is before an up to $7,500 federal tax credit that took effect for many electric vehicle models at the start of January.

Following is a table of the price cuts by model in Germany and the United States:

Tesla also cut prices for its Model X luxury crossover SUV and Model S sedan in the United States.

In Germany, it cut prices on the Model 3 and the Model Y – its global top-sellers – by between about 1% and almost 17% depending on the configuration. It also cut prices in Austria, Switzerland and France.

For a U.S. buyer of the long-range Model Y, the new Tesla price combined with the U.S. subsidy that took effect this month amounts to a discount of 31%. In addition, the Tesla move broadened the vehicles in its line-up eligible for the Biden administration tax credit.

Before the price cut, the five-seat version of the Model Y had been ineligible for that credit, a designation Musk had called “messed up”. After the price cut, the long-range version of the Model Y will qualify for the $7,500 federal credit.

“This should really boost 2023 (Tesla) volumes,” Gary Black, a Tesla investor who has remained bullish on the company and its prospects through the recent, sharp share price decline, said in a tweet. “It’s the right move.”

Still, some users on Tesla fan forums online complained the price cuts disadvantaged customers who had recently bought their vehicle, leaving them with a lower-valued item on the second-hand car market.

“I’m not very pleased with these huge price sways. Just reducing 10,000 euros like that – definitely makes you feel that you just paid far too much,” one user wrote on a ‘Tesla Drivers and Friends’ forum on Friday.

In China, where Tesla cut prices last week by 6-13.5%, owners protested at delivery centres across the country, pressing Tesla for compensation.

Before the price cut, Tesla inventory in the United States, as tracked by the models its website shows as immediately available, had been trending higher. Prices on used Tesla models had also been declining, increasing the pressure on it to adjust new-car sticker prices.

For 2021, the United States and China combined had accounted for about 75% of Tesla sales, although the automaker has been growing sales in Europe, where its Berlin factory has been ramping up production.

The shift is the first major move by Tesla since appointing its lead executive for China and Asia, Tom Zhu, to oversee U.S. output and sales.

Tesla cut prices in China and other Asian markets last week. Along with previous price cuts announced in October and recent incentives, the Chinese price for a Model 3 or Model Y was down 13% to 24% from September after the recent move, Reuters calculations showed.

Tesla has also cut prices in South Korea, Japan, Australia and Singapore.

Analysts had said the Chinese price cuts would boost demand and increase pressure on its rivals there, including BYD (002594.SZ), to follow suit in what could become a price war in the largest single market for electric vehicles.

That pressure could be building in Europe as well.

Tesla’s Model 3 was the best-selling electric vehicle in Germany last month, followed by the Model Y, beating Volkswagen’s (VOWG_p.DE) all-electric ID.4. Volkswagen recently raised the price of its entry-level ID.3, putting it at parity with the now-discounted Model 3.

Tesla missed Wall Street estimates for fourth quarter deliveries. Full year growth in deliveries was 40% – also short of Musk’s own forecast of 50%.

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Yellen leads new U.S.-Africa policy with trip to Senegal, Zambia, South Africa

2023-01-13T10:12:09Z

U.S. Treasury Secretary Janet Yellen attends a meeting with South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho at Lotte Hotel, in Seoul, South Korea July 19, 2022. Chung Sung-Jun/Pool via REUTERS

U.S. Treasury Secretary Janet Yellen will travel to Senegal, Zambia and South Africa during the next two weeks, as the United States aims to strengthen ties with a continent that has been the focus of Chinese trade and investment for years.

Yellen, 76, is the first member of President Joe Biden’s cabinet to embark on a lengthy African trip, after Biden announced more than $15 billion in two-way trade and investment deals in December, saying the United States was “all in” on Africa’s future.

Her trip comes as China’s foreign minister, Qin Gang, continues a five-country tour of Africa, the 33rd consecutive year that Africa has been the destination of the Chinese foreign minister’s first overseas tour of the calendar year.

Biden, Vice President Kamala Harris, Trade Representative Katherine Tai, and Commerce Secretary Gina Raimondo will also travel to Africa this year, as will Yellen’s deputy, Wally Adeyemo.

Yellen will meet government and private sector officials in the three countries to discuss energy, food security, debt issues and infrastructure investments, senior Treasury officials said. In Senegal, she will meet the leader of the African Union, President Macky Sall.

The new United States’ new approach includes promising and delivering significant investment and trade partnerships, not just humanitarian aid and security assistance, administration officials said.

“We believe that Africa’s growth will be a key driver of global growth over the coming decades,” a senior Treasury official told reporters. “U.S. companies investing in Africa means jobs and opportunities for a growing middle class, and new markets and customers for American firms.”

The economies of sub-Saharan Africa will grow by 3.7% in 2023, the IMF projects, besting global estimates of 2.7%. The United Nations last year estimated that the population in many countries in sub-Saharan Africa would double between 2022 and 2050.

Chinese trade with Africa is about four times that of the United States, and Beijing has become an important creditor by offering cheaper loans – often with opaque terms and collateral requirements – than Western lenders. But some African countries, including Zambia, have soured on Chinese lending and are looking for alternatives, experts say.

Yellen’s visit is intended to deepen longstanding U.S. ties to African nations and offer sustainable, high-quality investments that “don’t weigh down recipient countries with unsustainable debt burdens,” the Treasury official said, without offering specifics.

Yellen has criticized Beijing – now the world’s largest creditor – for not moving quickly to restructure the debt of poor countries in Africa. The topic will be a key issue when she visits Zambia, the Treasury official said.

Yellen’s time in Zambia will coincide with a visit by International Monetary Fund Managing Director Kristalina Georgieva, although IMF sources said the trips were not planned at the same time.

Washington intends to offer African leaders more sustainable choices than China, a senior U.S. official told Reuters, especially in areas such as infrastructure, digital transformation and climate change.

Biden in December proposed that the African Union be included in the Group of 20 major economies to give African countries a bigger seat at the table. The only African nation included previously was South Africa.

In Senegal, Yellen will meet with women entrepreneurs, speak at a business incubator, and visit Goree Island, which served as a slave trading post in West Africa. She will also participate in the groundbreaking of a rural electrification project led by U.S. engineering firm Weldy Lamont and backed by $100 million in financing from the U.S. Export-Import Bank.

In Lusaka, Zambia, she will visit a distribution center run by Mylan Labs, a U.S. company helping distribute anti-malarial treatments, and meet with business leaders from the American Chamber of Commerce in Zambia.

In South Africa, she will highlight work that Treasury is doing to combat illegal wildlife trafficking, and visit a Ford Motor Co (F.N) assembly plant outside Pretoria that employs more than 4,000 people, and is slated to become carbon neutral by 2024.

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Invaders shelling entire front line in Donetsk region since last night, casualties reported

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In Donetsk location, the enemy has not end shelling the overall entrance line considering the fact that previous night. A single person was killed and a further 1 was hurt as a end result of the assaults.

Pavlo Kyrylenko, governor of the Donetsk Regional Military Administration, wrote this on Telegram, Ukrinform reports.

“In the Donetsk route, shelling of the Kurakhove neighborhood continues: a few houses were being broken in Kurakhove, and an business in Kurakhivka. There had been isolated assaults on Avdiivka at evening, and Grad MLRS and artillery attacks in the morning. The working day ahead of, one particular civilian was killed in the metropolis. A house in Tonenke of the Ocheretyne group and Maksymilianivka of the Marinka neighborhood had been also destroyed,” the regional governor wrote.

In accordance to him, extreme shelling of Soledar and Paraskoviivka carries on in the Horlivka route. In the Bakhmut community, a person particular person was hurt in Klishchiivka, and a house was harmed in Khromove. In Kostiantynivka, the enemy strike a constructing of the previous institute. No casualties have been noted.

In the Volnovakha path, Vuhledar and villages of the group arrived beneath fire: three houses ended up destroyed in Novoukrainka, a single in Bohoiavlenka. There had been no casualties.

“In the Lysychansk way, more than 30 hits were being recorded in Torske and Zarichne of the Lyman community, it was loud in Siversk and Serebrianka – no one particular was wounded,” Kyrylenko wrote.

As documented, Donetsk area is less than continual shelling by Russian troops, and has troubles with electrical power, warmth, and water provide.

Photo: Pavlo Kyrylenko

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Feuding crypto giants Genesis and Gemini have been sued by the SEC for `unregistered offer and sale of securities’

winklevossThe Winklevoss twins.

REUTERS/Stephen Lam

  • Crypto giants Genesis and Gemini have been sued by the SEC for the offer and sale of unregistered securities. 
  • Authorities claim the firms illegally raised billions of dollars worth of crypto through the Gemini Earn program. 
  • The complaint comes amid a public feud between the two firms over a $900 million loan Genesis owes to Gemini. 

The Securities and Exchange Commission sued crypto giant Genesis’s lending arm Genesis Global Capital and digital currency exchange Gemini Thursday for the unregistered offer and sale of securities to customers through an interest-bearing product. 

It said the firms raised billions of dollars worth of crypto assets through the unregistered Gemini Earn program. 

“We allege that Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors,” SEC chairman Gary Gensler said in a statement.

“Today’s charges build on previous actions to make clear to the marketplace and the investing public that crypto lending platforms and other intermediaries need to comply with our time-tested securities laws. Doing so best protects investors. It promotes trust in markets. It’s not optional. It’s the law,” he added. 

Gemini, spearheaded by the Winklevoss twins, launched its Earn program in February 2021 that let users lend their crypto to institutional borrowers in exchange for interest on the assets. It partnered with Genesis for the program.

But in the wake of the implosion of crypto exchange FTX in November, Genesis’s lending arm halted customer withdrawals, leaving $900 million of Gemini client money stuck on the platform.  The lending business, which is owned by crypto conglomerate Digital Currency Group, experienced a severe liquidity crunch due to its exposure to FTX and a wave of withdrawal requests. 

That triggered a public battle between Cameron Winklevoss and DCG CEO Barry Silbert over the $900 million loan, in which the two parties have made open jabs at each other. 

Along with the SEC, investors are also suing the Winklevoss twins and their firm over the interest-bearing product, while a group of Gemini investors are accusing the firm of fraud. 

Amid the ongoing saga, more details are emerging of the two crypto funds. According to the FT, Genesis reportedly owes creditors $3 billion thanks in part to FTX’s collapse. 

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I make $30,000 per year renting my DC flat, and I’ve dropped every listing platform but Airbnb — here’s why

Cari Shane in her AirbnbCari Shane in her Airbnb.

Sam Parven

  • Ten years ago, writer Cari Shane paid $645,000 for a two-bedroom, one-bath house in Washington, DC.
  • She wanted supplemental income and decided to list the basement on Airbnb, Vrbo, and other platforms.
  • In the years since, she’s done away with all but Airbnb. She writes why.

In 2013, I sold the Montgomery County, Maryland home in which I’d raised my three kids. I was divorced and thoroughly sick of the exhaustingly car-centric suburbs, and as a former city kid who was raised in Manhattan, I decided to hightail it to Washington, DC.

After months of searching, I used the money I made from my house sale to purchase a $645,000 two-bedroom, one-bath house with an overgrown courtyard and a collapsing detached garage. 

I was working as a public relations executive at the time, but I wanted out

The job paid the bills, but it was something I referred to as “the dark side.” I wanted to go back to freelance writing, but I feared I couldn’t earn a sustainable income.

Cari Shane's DC flat

Courtesy of Cari Shane

As I walked around the basement of my 1910 row house, so shallow that I could poke the ceiling with my finger without even extending my arm at 5-foot-4, I wondered if it could be dug out and brought up to code to be a rental property.

I was well aware that “English basements” were a popular and affordable rental option in DC, made even bigger by transient residents who come and go with presidential and congressional administrations. At the time, the going rate for a two-bedroom basement with a kitchen was $1,200 to $1,500 a month.

If I could find renters, I could gross as much as $18,000 a year, if not more — enough to leave PR for good.

Cari Shane's DC flat

Courtesy of Cari Shane

The problem was, I also needed to house my three kids (two of whom were in college at the time) when they were home for vacations, and, in the future, when they would visit me with their families. 

Though I didn’t know anyone with an Airbnb, I’d been reading about the concept

It had launched five years earlier in 2008 and was different from the well-established Vrbo, a company I’d used to book family vacations. 

While Vrbo catered to those seeking an entire home for a short-term rental, Airbnb’s niche was renting rooms within an occupied home. I did a little research and found a few folks on my new street who were renting their basements on Airbnb.

Cari Shane's DC flat

Courtesy of Cari Shane

I immediately realized that creating a short term rental property in my basement was the answer to my problems. I could invite guests to stay in the basement and, when my kids visited, I could block guests from booking those dates so my kids would have a space to live.

When my renovations were complete in April 2015, I listed my rental basement

I joined right in the middle of the vacation rental market boom, listing my rental “flat” (sounds better than basement) on Airbnb, Vrbo, and Turnkey by Tripadvisor. According to research by iProperty Management, the rate for short term vacation rentals increased 240% from 2011 to 2019 and 86% of consumers surveyed say they plan to book a short term rental some time in 2022.

Cari Shane's DC flat

Courtesy of Cari Shane

Dubbed “Cari’s in the City,” my flat has two bedrooms with ensuite bathrooms separated by a kitchen and living area. A door that locks off access to the second bedroom means I can rent it as a one-bedroom with kitchen and living area, while using the second bedroom for one of my visiting adult children.

I can also rent it as a two-bedroom with a kitchen and living area and a king bed that can convert to two twins, which is perfect for parents traveling with kids. 

My rental income is different each year

I’ve fluctuated from nearly $33,000 in a banner year to as little as $11,000 during the pandemic. The difference between an average year of about $24,000 and a banner year earning more than $30,000 is the number of two-bedroom bookings I get.

Cari Shane in her AirbnbCari Shane in her Airbnb.

Sam Parven

In late March through July and then again in September and October, I charge up to $350 per weekend night and less for weekdays for my two-bedroom. For my one-bedroom, I charge up to $250 a night and less for weekdays. I also accept dogs for an additional fee of $25 a night, a key differentiator from the other thousands of rentals in the area.

After years in the rental market, I only use Airbnb

I initially listed Cari’s in the City with Airbnb, Vrbo, and Turnkey by Tripadvisor, but I’ve done away with all but Airbnb for three reasons. 

  • Traffic: In the four years that I used all three listing services, more than 95% of my reservations came from Airbnb, around 4% came from Vrbo and less than 1% came from Tripadvisor (and, if I remember correctly, that guest ended up canceling). It’s interesting to note, that of the six times that I listed my entire house as a short term rental, Vrbo is where I got 95% of those bookings. Because Vrbo launched as a short term house rental, as opposed to room rental, this makes a lot of sense.
  • User friendly: Not only do I find it easier to work with the Airbnb platform as a whole — listing my information, details about my neighborhood, specifics about the one- and two-bedroom flat with photos — I also find their calendar easier to use. I also like being able to track my views and see how much money I’ve made for a month or a year. It’s possible that the other platforms provide this service, but I either never found their “insights” dropdown or I never had enough traffic to bother checking.
  • Host earnings: Since I rent the extra space in my house for extra income, the financial aspect was a powerful decision maker on what site to keep using — especially because the bookings weren’t pouring in through Vrbo and Tripadvisor was a non-starter. 

Plus, I care about the host fees. Airbnb takes a flat 3% off the top of each reservation. It’s more complicated for Vrbo hosts who need to choose between two fee models.

Cari Shane's DC flat

Courtesy of Cari Shane

Back in 2015, the first model included a flat annual fee of $349 (it’s now $499); with that option, Vrbo took no additional percentage from a host’s earnings from a booking. The second choice for a host was to pay nothing up front to use the platform, but give Vrbo 10% of the proceeds from each guest’s stay. 

By 2018, I’d done away with my Vrbo account altogether

When I first launched my rental side-hustle, I paid the annual fee for Vrbo and did so for two years. But then, as Airbnb grew in popularity, my bookings on Vrbo started decreasing. 

Cari Shane's DC flat

Courtesy of Cari Shane

In 2017, I stopped paying the annual fee and opted for the 10% fee model which, in the end, just wasn’t worth it. I already got so much traffic from Airbnb, and it also took so much less. My Tripadvisor account was already long gone.

It seems to me that Vrbo caters more to travelers, charging them less, percentage-wise, for the privilege of booking through their system; Airbnb seems to favor the host. 

Cari Shane's DC flat

Courtesy of Cari Shane

The extra time it took to update information and concerns manually wasn’t worth it, and the algorithm that connected each platform’s calendar — a booking on Airbnb would automatically block the calendar on Vrbo and vice versa —  wasn’t working properly. It was a headache that didn’t warrant the minimal traffic and even more minimal bookings I was getting.

That said, if I ever do list my whole house again for a short-term rental, I will definitely list it on Vrbo. It’s the right site to use for listing a whole house, but not as much for a room rental.

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‘Looks like we’re painting potatoes for Easter’: Twitter users share their hilarious reactions to current egg prices

"Going to law school vs. Selling eggs" tweetEgg prices are laughing matter – unless you’re on Twitter right now.

Alex Su/Twitter

  • Egg prices are soaring amid inflation and a nationwide avian flu outbreak.
  • Shoppers in California can expect the priciest eggs at nearly $8 for a dozen, The Washington Post reports.
  • One user joked about painting potatoes instead of eggs for their Easter celebration.

Shoppers are taking notice of the rising cost of a dozen eggs at their local grocery stores, and the online jokes are egg-zactly what we need right now.

An outbreak of avian influenza in February 2022 has affected around 58 million chickens, the US Department of Agriculture reported.

The deadly infection kills 90% to 100% of affected chickens within a couple of days, according to information reported by Insider’s Alex Bitter. As a result, poultry products — eggs included — are costing shoppers more.

In November, the price of eggs was 49% higher than the same month in 2021, according to the Insider report.

—Seto Kaiba 🧙🏽‍♂️ (@seto__kaibaa) January 12, 2023

“I don’t know whether to pay my mortgage this month or buy a carton of eggs,” one user wrote.

As of January, an 18-count carton of extra large white eggs is listed for $7.52 on Walmart’s website. California shoppers reportedly face an even steeper price, paying about $7.37 for only a dozen, according to the Washington Post.

—King Eddie just my luck 😩‼️ go birds tho 🦅 (@BLaze4490) January 10, 2023

Another user joked about needing help from buy-now-pay-later service Klarna to purchase a dozen of eggs. The tweet garnered over two million views and nearly 70,000 likes.

—. (@Notdojaaa) January 10, 2023

It’s unclear when consumers can expect egg prices to drop, but farmers are reportedly recovering faster from avian outbreaks among their chickens, Emily Metz, president of the American Egg Board, told the Washington Post.

“In 2015, it took farms about nine months to get flocks laying again; now it’s taking about six months. Most farms affected in 2022 are already back to laying and supplying eggs again,” Metz said, according to the report.

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In 2023, cash is king for tech execs

silhouette of a woman leaping from a pile of coins to a stack of 100 dollar bills against a blue background with screen linesInsiders say tech companies will shell out more cash to shore up compensation packages.

Marianne Ayala/Insider

  • Tech salaries took a hit in 2022.
  • Insiders say tech’s bottomline’s will take a beating too as companies look to hang on to talent.
  • Expect 2023 to be the year of retention packages.

Tech spent last year finding ways to keep their employees happy and calm in the midst of perk cuts and layoffs. Now, insiders say they expect tech companies to issue more stock and cash incentives to keep their c-suite intact too. 

Top technology stocks thrived in 2020 and 2021 from the sudden shift en masse to digital as the pandemic hit. Once 2022 rolled around, it seems the luck ran out as stock values fell.  

In 2023, insiders say tech companies will be looking to structure long-term deals with payouts for longevity as a way to induce exec loyalty.

Five of the biggest tech stocks, Apple, Microsoft, Alphabet, Amazon, and Meta, lost an aggregate value of $3.7 trillion in 2022. A slumping stock doesn’t just hurt the shareholders, it also hurts employees that have a portion of their compensation package paid in equity. Tech companies doled out additional shares to shore up employees whose stock lost its value last year, so much so that investors worried about future returns

Other companies like Shopify and Netflix opted to allow employees to have more control over their compensation packages by choosing how much of their salary is cash versus equity every year.

Deepali Vyas, a top headhunter at Korn Ferry, told Insider there’s going to be a recalibration of exec cash compensation downward to a level that reflects where valuations are today.

“I would see those levels come down anywhere between 10 and 20%,” she said.

As the Fed continues to raise rates to combat inflation, companies’ boards of directors and shareholders will be asked to get creative with compensation packages to satisfy spooked employees, including leaders, who are seeing tech-boom benefits be scaled back and are shouldering more work due to layoffs.

Competitors from within the sector and beyond have been ready to nab big tech talent at a more realistic, yet still competitive price, Vyas added.

Since this is the worst time to lose top-tier talent like an exec that hits their marks, Vyas said, she expects to see companies create long-term and metric-based incentives where cash or equity is paid out in a few years or more. 

To measure who gets a promise of a big payday for sticking around, companies will be looking at what kind of holding power they have on each person they’re looking to keep, said Aalap Shah, managing director at advisory firm Pearl Meyer.

“Looking at their unvested equity holdings and determining what the value of that is currently gets you an understanding of how much value the executive is being retained by and if that is a meaningful enough value,” Shah told Insider.

For execs that hit that bar, even with a tempting job market opening up say over the next few years, it could be more profitable to stay put.

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I spent $165,000 on a 215-year-old home I found via Instagram. It’s falling apart, but I have big plans.

The Angeleauxs pose in front of Walnut Hill, a house they found on the Cheap Old Houses Instagram account.The Angeleauxs plan to restore Walnut Hill, an Ohio manor they found on the Cheap Old Houses newsletter.

Kayli Angeleaux

  • Kayli Angeleaux bought a home via Cheap Old Houses, an Instagram account with 2 million followers.
  • She’s embarking on a restoration of the property that will cost almost as much as the house.
  • Angeleaux wants to live here for the rest of her life, and jokes the renovation will take that long.

This as-told-to essay is based on a conversation with Kayli Angeleaux, 31, about her decision to purchase a historic fixer-upper in Higginsport, Ohio, about an hour from Cincinnati. She found it via Cheap Old Houses, an Instagram account and newsletter started by Elizabeth and Ethan Finkelstein that spotlights homes for sale across the country and abroad that are, mostly, less than $150,000. 

A screenshot of the Cheapish Old Houses newsletter.The Cheap Old Houses newsletter listing for the house the Angeleauxs purchased.

Cheap Old Houses

Angeleaux and her husband Connor, 29, are chronicling the intense restoration process on YouTube. The conversation has been edited for length and clarity.

I was on the Cheap Old Houses Instagram, and I spent way too much time on there. When I quit social media, I knew I had to have my fix. So I got on their email newsletter.

We were living in an apartment in Utah at the time. My husband and I agreed that we weren’t going to leave that apartment until we bought a house. Nothing in Utah was anywhere close to what we could afford.

And then on May 11, 2022, I got the Cheap Old Houses email. We saw the pocket doors, and knew there was something special here. 

I’ve been dreaming about owning a historic home for probably the past 21 years. I read a lot of historical fiction when I was young, and I fell in love with it through that. At 10, obviously, I didn’t know what that really meant. But I knew the aesthetic that I wanted, down to the Federal-style white house with the symmetrical windows.

So when I saw it pop up, it just screamed ‘home’ to me. 

Unpainted wood pocket doors with a green chair in front.The pocket doors were a selling feature of the house for the Angeleauxs. It was listed for $249,900, and they paid $165,000 for it.

Kayli Angeleaux

I reached out to the listing agent that day just to see if it was still available — I was sure somebody had already bought it — and it was. 

The house was listed for $249,900, and we got it for $165,000. 

There were several reasons for the discount. The first is there’s a ton of very expensive work to do. The structure needs to be completely redone. 

Higginsport is a tiny, tiny thing on the map. There are really no businesses. There’s one restaurant and a tiny post office that’s open for a couple hours. So not a lot of people are looking for that kind of town.  

The Angeleauxs weren’t even considering Ohio

At the time, we were actually looking at homes in Kentucky, so we didn’t even have a local agent in Ohio. All that realtors in Kentucky were able to send us in our price range was trailers, and that just wasn’t what we wanted. 

Cincinnati is the closest big city to the house. All we knew about Cincinnati was that it had hills. We would be okay with moving from Utah because at least we would have some good topography. We were very concerned about not having mountains anymore.

We started scrambling and found an agent in Ohio, and got her out there for a FaceTime walkthrough. We entered the buying process sight unseen, after just the blurry FaceTime. They had taken fantastic pictures for the listing and the inspections showed us every nasty corner. 

Left: the entry foyer with stairs on the left side covered in red carpet. Right: the upstairs foyer with red carpet.The upstairs ceilings are 12 feet. They have yet to see inside the attic.

Kayli Angeleaux

We moved to Columbus in July and were able to go see the house a couple times, and then we closed in September.

Connor, a machine-learning engineer, did have to go through the process of asking human resources if he could work remotely. They got themselves a license so he could be in Ohio. A big goal of buying this house was for me to be able to be a stay-at-home mom.

We’ve been staying with Connor’s mom in Columbus and just going back and forth either to see the house, to sign papers, or to start clearing it out. We’re actually going to be moving in here in a couple weeks.

I say moving in lightly. We’re essentially going to be camping for the next six months while construction is going on.

The home needs some updating before it’s suitable for family life

I’m a historian, and I’ve been doing interior decorating as a side career. 

What we have been told is that the house was completed in 1807. It was originally owned by a whiskey dealer, and legend has it that he would take his horse and buggy through the tunnel that goes through the hill the house sits on and into the basement to load and unload his wares. 

There were one or two owners, then there was a guy named Samuel Waterfield who bought the house for his new bride. He fathered 15 children in that house. Then there were a couple more owners.

Left: The tunnel into the cellar. Right: The cellar the Angeleauxs plan to convert into an Airbnb.The tunnel and the cellar the Angeleauxs plan to convert into an Airbnb.

Kayli Angeleaux

We found out that it was called Walnut Hill. In my heart, I knew this house had a name. 

The downstairs has a kitchen, and there’s a bathroom off of it. There are four living rooms in the main part of the house. They’ll become a formal dining room, a living room, my office, and a homeschool room for our 4-year-old and any future babies. 

Above the kitchen are the servants’ quarters, and there are also four bedrooms upstairs. There’s an attic above that. We have a ladder, but we just haven’t figured out how we can get it up there because the ceilings are 12 feet high. 

Four images of the details at Walnut Hill House.The Angeleauxs were wooed by the home’s craftsmanship, though some upgrades over the years are not as welcome.

Kayli Angeleaux

There’s one bathroom. We’re told that it was the first house in Higginsport to actually have a bathroom.

We want to add another bathroom — that’s in our five-year plan — because if you need to go to the bathroom in the middle of the night, you have to go all the way downstairs.

The coolest part of the house is the wine cellar in the basement that’s accessible from the tunnel outside. And that’s what we’re going to turn into an Airbnb. I want to share this historic home with people, so I want to make it affordable for families. I think I’ll charge anywhere from $100 to $150 a night.

I like to say that we’re doing a restoration, not a renovation. 

It’s been lived in for 215 years. So I’m going with an antique style, but it’s going to be pretty eclectic. We’ve found so many cool antiques in the house, too. I found a sign from World War II, and old military uniforms. 

A WWII sign reading We Are Going to Plant Old Glory in Tokyo and Berlin, and some books.Some of the relics the Angeleauxs have found in the house.

Kayli Angeleaux

I’ve always been a little bit more cautious with my colors, but we’re going all out. My office is going to be a really deep, rich purple. I am trying to pay homage to the green kitchen, which is pretty intense. So the kitchen is going to be green — it’s just going to be a little mellower in style.

It’s hard to explain, but you just walk in there and know this house has seen some things. And I truly feel like a caretaker of the house and the grounds. I love it so much. 

Buying a house built in 1807 has been a huge undertaking

The loan that we did was complicated, and all the safeguards that we put in place to make sure we weren’t buying a money pit took a long time.

The loan that we used is called a 203(k) loan. You’re able to roll in a lot of the repairs that have made the home pretty much unlivable into your mortgage, and it’s backed by the Federal Housing Administration (FHA). It allows people who aren’t filthy rich, who can’t throw tons of money at these historic homes, to be able to afford one.

The mortgage portion of the loan was $165,000, and the renovation loan was $157,000. The estimate was $140,000 for the repairs. You have to have conditional funding in case contractors find something else wrong with it while they’re doing the work. The down payment was $18,000. As soon as we got approved and they locked us in for 60 days, rates started skyrocketing fast. We ended up with a 5.5% interest rate.

The Angeleauxs' green kitchen.The kitchen will remain green, but the color will get a bit toned down.

Kayli Angeleaux

We had to have a Housing and Urban Development inspector look at the home and tell us what things needed to happen in order for the FHA to back this loan. We also had a structural engineer, a termite company, and painters come out. We are dealing with what’s most likely lead paint. We had a plumber.

We had chimney sweeps, because we have five chimneys and nine fireplaces. 

The biggest thing was that we had three general contractors come out. I thought when contractors came, you were just getting a number, but it was packed full of education. Every contractor brought different expertise and different suggestions on how to go about things. So honestly, I consider them like one of our inspections. We ended up going with an Amish contractor who really knows what he’s doing.

A long project lies ahead

Now, it’s a historic home. We’re not going to get it completely up to code. My stairs aren’t all going to be the same height and width.

Our windows have to be able to open. That’s a big project, because all of our windows are original, and all of them are sealed.

Once we were standing in what was going to be our master bedroom, and a bird flew in. One of the windows is detached, and there’s a big hole in the ceiling from some water damage. We have found so much bird poop in that house. 

The original window with a close-up of termite damage.The home still has its original windows. Replacing them will be one of the more major projects the Angeleauxs will have to undertake.

Kayli Angeleaux

The electric is the old knob-and-tube, so we’re redoing that. There’s also damage from termites. And we’re going to need to get a French drain around the house, because when we went to walk through with our contractor during a rainstorm, we saw rain pouring into the basement.

We just FaceTimed with our contractor yesterday and he showed us three trash bags. And he was like, “Hey, look at this. That’s the beam that was holding up your house. I put my hand on it and it completely crumbled.” 

Luckily every wall is 18 inches of solid brick, so that’s why the home was still standing. Right now, we can’t fully walk into the living rooms. I mean, you can, but the floor is sagging.

Walnut Hill house.Walnut Hill.

Kayli Angeleaux

It didn’t scare me too much, because I had my awesome contractor next to me. If there weren’t solutions, it would have scared me. But the solutions, though expensive, are very clear-cut. 

People ask how long the restoration’s going to take. I’m like, “The rest of my life.”

Read the original article on Business Insider
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German economy seen stagnating in Q4, grew 1.9% in 2022

BERLIN (AP) — The German economy appears to have stagnated in the fourth quarter, the national statistics office said Friday, while Europe’s biggest economy managed full-year growth of 1.9% — slowing somewhat from 2021 as the impact of Russia’s war in Ukraine weighed on its performance.

Germany releases a preliminary full-year gross domestic product figure before full December economic data is available, and an official fourth-quarter number isn’t due for a few weeks yet.

The head of the Federal Statistical Office, Ruth Brand, said that “according to what we know so far, gross domestic product stagnated in the fourth quarter of 2022” compared with the previous three-month period. She cautioned that there was still “a great deal of uncertainty” about that estimate.

If the estimate holds up, stagnation in the October-December period would be a better showing than expected. The economy was long expected to shrink in last year’s fourth quarter and in the current first quarter. In last year’s third quarter, the economy grew 0.4%.

Germany’s full-year growth declined from 2.6% in 2021. In 2020, when the economy took a big hit from the COVID-19 pandemic, GDP shrank by 3.7%.

Brand said the economy was 0.7% bigger last year than in 2019, the last year before the pandemic.

“In 2022, the overall economic situation in Germany was affected by the consequences of the war in Ukraine and the extremely high energy price increases,” she said.

“There also were serious material shortages and delivery bottlenecks, massively rising prices, for example of food, skilled labor shortages, and the continuing though fading COVID-19 pandemic,” Brand added. “Although these difficult conditions persist, the German economy as a whole managed to perform well in 2022.”

Germany’s annual inflation rate slipped back from a peak of 10.4% in October to 8.6% in December, but galloping prices remain a major headache.

A potential energy crunch following Russia’s invasion of Ukraine and the end of its gas supplies to Germany also has been a concern. But Germany’s network regulator said last week that a gas shortage was “increasingly unlikely” this winter.

ING economist Carsten Brzeski said the fourth-quarter estimate is likely to be “revised somewhat,” pointing to potential disruption from a spell of cold weather and the impact of the energy crisis on consumption and production.

For the whole year, the catch-up effect after the end of pandemic lockdowns “outweighed the economic fallout from the war in Ukraine,” with help from government support packages, Brzeski said in a research note. But the post-pandemic rebound is over and won’t support the economy this year, he added.

“The adverse effects from the war and the energy crisis are likely to prevail and will be a drag on the economy,” Brzeski wrote, pointing to months of weakening factory orders and weak consumer confidence among other factors.

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