September 4

Intertek buys Moody in deal worth £450m

first_img Intertek buys Moody in deal worth £450m SHARES in safety services provider Intertek jumped yesterday after it revealed an 11 per cent profit increase and plans to acquire a rival. Profit before tax for the FTSE 100 listed firm hit £211.9m for the year to 31 December 2010, up from £191.5m a year earlier. Consensus forecasts had estimated pre-tax profits of £209m. The quality control company, which tests a range of products from toys and footwear to computers, also reported revenues of £1.4bn for the period.Underlying profit at the firm stood at £206.5m, whilst a final dividend of 18.8p per share will be proposed at the group’s annual general meeting in May. Intertek also said it had agreed to buy technical inspection and certification firm Moody International, adding to its international reach. The group will spend £450m on Moody, buying the Sussex-based company from private equity house Investcorp.The deal, which is funded entirely in cash, will help Intertek to expand its presence in Asia and other emerging markets, where Moody has significant expertise. Intertek said it expects pre-tax cost synergies to reach £6m within three years.Chief executive Wolfhart Hauser said: “As market conditions continue to improve, the enlarged group is very well positioned to continue its record of strong organic revenue growth of high single digits.Shares in the firm closed up five per cent at 1,994p per share. KCS-content Show Comments ▼ whatsapp Share Monday 7 March 2011 8:36 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap whatsapp Tags: NULLlast_img read more

August 18

F1 British GP Live : Lance Stroll finishes at top in…

first_img IND vs NZ in WTC Final: India batting coach says, ‘score above 250 on Day 3 would be good’, Kyle Jamieson feels it won’t… TAGSF1 British GP Live streamingF1 GP Watch Lewis Hamilton at British GP LIVEF1 Race CalendarFormula 1 British GP liveFormula 1 british GP Star Sports SHARE F1 British GP Live : Lance Stroll finishes at top in the second practice session in Silverstone Cricket by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Like24/7 SportsIt’s Amazing To See How These NBA Stars Have Changed Since College24/7 SportsUndocio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comUndoE! OnlineCNN’s Christiane Amanpour Undergoes Surgery After Cancer DiagnosisE! OnlineUndoEarlier in the first round of practice at Silverstone, Red Bull’s Max Verstappen was fastest in first practice at the British Grand Prix ahead of Mercedes’ Lewis Hamilton.Verstappen was 0.474 seconds clear of the world championship leader but used a softer tyre than Hamilton, whose team start the weekend as strong favourites.Racing Point’s Lance Stroll was third, ahead of Red Bull’s Alexander Albon.Nico Hulkenberg, a last-minute sub for Sergio Perez after the Mexican contracted coronavirus, was a creditable ninth on his return to F1.The German, who was 0.588 seconds slower than Stroll, had his position confirmed only minutes before the session started because of the wait to confirm he did not have coronavirus. Previous articleISL Update : Indian Super League 4th biggest football league in the world on instagram engagementNext articleEngland vs Ireland ODI Series: McCarthy,Rankin dropped as Ireland names 14-man squad for must-win tie Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Tokyo Olympics Village: Organizers unveils Tokyo games athletes village to the media, check first look Cricket Lance Stroll continues Racing Point’s fine start to the season by being quickest in the second practice session of the day, although there were only a limited number of laps for qualifying simulations as Alexander Albon then caused a reg flag when he smashed into a barrier.Race favorite, Lewis Hamilton finished 5th in the Second Practice in Silverstone  Cricket YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factory|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndo Euro 2020- Spain vs Poland Highlights: Spain held to 1-1 draw as Lewandowski’s Poland keep Euro hopes alive Albon though does have second spot to his name, with the rest of the top 10 being made up of Valtteri Bottas, Charles Leclerc, Lewis Hamilton, Carlos Sainz, Nico Hulkenberg, Pierre Gasly, Daniel Ricciardo and Kimi RaikkonenF1 British Grand Prix LIVE from Silverstone : Red Bull’s Max Verstappen was fastest in first practice  Happy Father’s Day: Nostalgic Sachin Tendulkar shares a special item that belonged to his father; Check video Cricket Latest Sports NewsSport Tokyo Olympics: Covid-19 scare continues after a Uganda team member tests positive center_img Latest Sports News Happy Father’s Day: ‘We Miss You’, Hardik Pandya pens emotional message for his father Facebook Twitter WI vs SA 2nd Test Day 2 Stumps: West Indies bowled out for 149 runs in 1st innings, SA lead by 149 runs Football India Tour of Sri Lanka: From books to gym, Sanju Samson shares story of his quarantine life ICC WTC Final: 10 years of Virat Kohli’s Test career, 10 best moments of India’s greatest Test skipper Latest Sports News Cricket Cricket Share on Facebook Tweet on Twitter By Kunal Dhyani – July 31, 2020 RELATED ARTICLESMORE FROM AUTHOR Cricket ENG W vs IND W Test: Sneh Rana, Shafali Verma shine as one-off Test ends in drawlast_img read more

June 16

Parkinson’s Disease Society in donor acquisition drive

first_img  36 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Individual giving TDA Parkinson’s Disease Society in donor acquisition drive AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Parkinson’s Disease Society is trying to recruit new donors from cold audiences with a national ‘and-raiser’ direct marketing campaign devised by direct-to-digital agency TDA. The campaign aims to make contact and build a dialogue with people who have an empathy with the disease.Press ads running in national newspapers and consumer magazines invite people to contact the charity to request DVDs, booklets and newsletters which provide information about the condition and research funded by the PDS. Respondents will form a database of potential contacts for future fundraising activity.center_img Howard Lake | 6 December 2008 | News “Most of our supporters have a close friend or relative with Parkinson’s disease, but it can be difficult to pinpoint these people,” said Lorna Robertson-Reed at the PDS. With this campaign, she added, “first and foremost we are able to fulfil our vision of supporting people with Parkinson’s as well as their friends, families and carers. In addition, we are able to create warm relationships with an audience that shares our desire to help people affected by the condition.”www.parkinsons.org.uk About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

June 15

Activists tell Pa. Gov. Corbett: ’Corporate welfare, NO! Human welfare, YES!’

first_imgSept. 13 protest in front of governor’s Philadelphia office demanding reinstatement of general assistance benefits.WW photo: Joseph Piette“Gov. [Tom] Corbett, blood is on your hands,” charged Jeffrey Jordan, pastor of the Metropolitan Community Church, on Sept. 13. He was criticizing Pennsylvania’s elimination of general assistance payments to 61,000 unemployed single adults, couples without children and disabled people.A crowd of more than 100 people, some breathing with the aid of small oxygen tanks and several in wheelchairs, took over the street in front of the governor’s Philadelphia office. The cuts, which were put into effect on Aug. 1, mean many former recipients have no funds to pay for medicine, shelter, clothing and other items needed to live.Corbett’s office had previously promised to meet with ACT UP, an AIDS and HIV advocacy organization, to discuss what was being done to compensate for the state’s GA cuts. ACT UP organized the Sept. 13 rally to ask, “Where is the meeting you promised us?”When a governor’s representative addressed the crowd, repeating the administration’s intention to meet with “a few people,” Waheedah Shabazz-El, of the U.S. Positive Women’s Network, took the mic to demand “a meeting with all of us — in the convention center.”FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

June 15

Walmart: Haunted by the specter of union organizing

first_imgSecaucus, N.J., Nov 23.WW photo: G. DunkelSecaucus, N.J. — The capitalist 1% class is trembling at the specter of a union victory at Walmart, the largest multinational corporation in the world. On Black Friday, the busiest shopping day of the year, shoppers did not just find cheap goods. They encountered some class truth.In more than 1,000 stores in 46 states, a multitude of actions took place. They included not just community and labor support but strike actions by many Walmart employees.This is historic and in some ways unprecedented. It could signal a turning point of struggle in the midst of a deep economic crisis. Workers here and abroad face an unparalleled assault and for the most part are on the defensive. But Walmart could be a sign that workers are going on the offensive.Here in Secaucus, N.J., several hundred community, labor and Occupy Wall Street activists gathered at the Walmart store. Several tactics were used, including mic checks inside the store, leafleting shoppers, pickets in front of the store and on the sidewalk for passersby to see, and the ever popular Rude Mechanical Orchestra, which marched up and down in front of the store playing union songs.Activists boldly gathered inside the store to chant and talk about the goals of OUR Walmart, before being brusquely escorted out by guards. Shoppers not only stopped to take cellphone pictures of the protests but listened to their message.The issues of low wages, cuts in benefits and lack of respect and dignity on the job had to resonate with them. After all, you don’t shop at Walmart if you are making a quarter of a million dollars a year.Certainly the owners of Walmart don’t need to shop there. The Walton family has accumulated as much wealth as the bottom 40 percent of the people in this country combined — a whopping $73 billion to $89 billion!New Jersey shoppers smiled as they took protesters’ pictures. So did some of the workers on the job. Outside, drivers honked their horns in support.Walmart attempted to dismiss the significance of the Friday actions. Yet the week before, the megacorporation had requested that the National Labor Relations Board issue an injunction against the protests — in flagrant violation of the right to organize and in step with their countless retaliatory measures against the workers.With each passing day, the possibility of organizing a union at Walmart becomes stronger. Workers in right-to-work states like Texas, Florida and Tennessee are joining workers in more liberal areas as they walk out and go on strike, many all alone.Great opportunity for class struggleU.S. workers are fed up. A flame has beenlit that could burst into fire ­worldwide.Secaucus, N.J., Nov 23.WW photo: G. DunkelWalmart workers had to contend with the threat that they would be fired if they participated in the strike. The common practice at Walmart is that when workers complain about working conditions, bosses make their schedules chaotic, cut their hours or fire them. Yet many did strike on Black Friday. In California some participated in civil disobedience that brought arrests.Walmart is a megacorporation bigger than Exxon or Bank of America. It counts on retaliation, abuse and temping out work to maintain its low-wage work force. It counts on warehouse workers to distribute cheap goods imported from abroad. It’s the warehouse workers who opened this recent struggle and lit the union flame.Walmart is the largest employer of Black and Latino/a workers in this country, who experience brutal racism both on the job and in their communities. They are ripe for organizing. In 2011, Walmart was forced to settle a lawsuit brought by workers in California who had been called “f—-ing wetbacks” and were told that “Mexicans are only good for cleaning homes.” Even some with legal status were threatened with deportation. The Waltons give generously to anti-immigrant politicians and campaigns.A Black pharmacist who blew the whistle on Walmart for dumping expired drugs at a store in an impoverished Black community was fired. Several West African workers filed a lawsuit against Walmart after their bosses told them too many Africans worked in the Colorado store.But history is on the side of the Walmart workers. In the 1920s and 30s, companies like Walmart counted on threats and intimidation to deny workers their rights. Goons beat and intimidated workers, trying to break their struggles. But unions began to thrive and the government had to make concessions, like a national jobs program.The masses at that time organized for themselves in a genuine people’s assembly movement, providing food for the hungry and money for rent, much the way Occupy Sandy is doing today.The campaign at Walmart provides a great opportunity for class struggle. Let’s take it. nFacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

June 15

Shut down the RNC! Resist state repression, racism!

first_imgCleveland has been the butt of jokes for decades. Much of it is rooted in class arrogance, reflecting bourgeois contempt for an overwhelmingly blue-collar town, along with racism towards the city’s African-American majority. Attacks on Cleveland in the 20th century were rooted in anti-immigrant sentiment directed at workers from Poland, Slovenia and Ireland.These days, however, comedians are having a field day with the siege-like restrictions being imposed during the five days that Clevelanders will be subjected to the omnipresence of the Republican National Convention. The lengthy list of prohibited items includes everything from “sabres” to tennis balls. Toy guns, including squirt guns, are prohibited. City administrators, however, have cited the Second Amendment as the reason for allowing neofascist Trump supporters to carry firearms in this “open-carry” state. Even those of us who grew up here, who would bristle at the old Cleveland jokes, are getting a chuckle.But quickly humor is replaced with anger as it becomes obvious that all these restrictions are strictly one-sided and intended to suppress dissent. The Democratic city administration, in collusion with the RNC and Homeland Security, is treating the Second Amendment — allowing possession of arms — like a sacred cow for the far right. Meanwhile, they trash the First Amendment — allowing freedom of speech — for the militant anti-Trump activists who will be coming from near and far.The process for obtaining permits to protest has been one of ongoing chaos. Many groups and organizations started filing in February for permits to march and rally during the RNC. Then on May 26, city officials, flanked by the Secret Service and the RNC Welcoming Committee, announced that everyone had to electronically re-submit applications for permits.There were many glitches in this new “system.” City workers are cutting and pasting to help various groups secure needed paperwork. There still has been no confirmation of approval by Cleveland officials, four weeks before the convention.New toys for cops = terror against the oppressedThere is widespread outrage, locally and around the country, over the invasion of Cleveland by Trump’s army of immigrant-bashers, Islamophobes, misogynists, anti-LGBTQ haters and right-wing racists. For these forces to hold their convention in Cleveland, a symbol of racist police violence, is an affront to the families of Tamir Rice, Tanisha Anderson, Malissa Williams and Timothy Russell, victims of police killings – and to the whole Black Lives Matter movement.On top of that, a consent decree with the Department of Justice, which found in the Cleveland Division of Police (CDP) a pattern of excessive use of force, has been lifted for the purpose of maintaining “order” during the four days of the RNC.Some of the materials secured for the CDP include 2,000 sets of riot-control suits, including upper-body and shoulder protective gear; tactical hard-knuckle gloves; shin guards; 2,000 sets of batons, baton caps and collapsible baton holders; pepper balls and OC (tear-inducing) pepper spray; as well as night vision goggles for police horses, new horse trailers; and new vans to transport arrestees. (Cleveland.com)All of these “goodies” are being paid for by a $50 million Homeland Security grant, but the CDP gets to keep these new toys! The CDP inherits a whole arsenal of the most modern anti-insurrection weapons. Who will they be used against? To pose the question is to answer it.The world knows the name Tamir Rice, a 12-year-old murdered in cold blood while playing with a toy gun in typical “shoot first, ask questions later” fashion. His murderers are still on the force, as are the killers of unarmed Malissa Williams and Timothy Russell, who died after the infamous 137 bullets were fired into their car. Tanisha Anderson was asphyxiated to death after police forced her to the ground; her family had called 911 for an ambulance — not police — during a medical emergency.Now the racist CDP, which has long operated like an occupying army in the African-American community, will be equipped like a real army. Part of the DOJ Consent Decree signed by Cleveland has mandated the wearing of body cameras by police. Unfortunately, the new riot control suits will not be able to accommodate body cameras. The last time the city was under DOJ supervision was from January 2002 to February 2004. Nothing changed then and nothing will change now unless forced to by a mighty mass movement that insists that Black lives matter.No protection for Trump-stumpers!Shut it down!This blatant disregard for Black lives and for all oppressed peoples is being challenged. Various marches and a “People’s Convention,” are being planned to counter the RNC. These include a march and rally on July 17, the Sunday before the RNC opens, to “Shut Down Trump and the RNC.” Initial sponsors are the New York and Baltimore chapters of the People’s Power Assembly; the Wisconsin Bail Out the People Movement; the Moratorium Now! Coalition to Stop Foreclosures, Evictions and Utility Shutoffs; the International Action Center; and the Solidarity Center NYC.People from as far away as Texas and North Carolina are talking about carpools or even chartering buses to come. The endorser list is growing and includes the Chicago Alliance Against Racist and Political Repression; the Milwaukee Anti-War Committee; People’s Opposition to War, Imperialism and Racism (POWIR); Students for a Democratic Society at College of DuPage; the United Workers Organization of Wisconsin; the Detroit Active and Retired Employees Association (DAREA); Minnie Bruce Pratt, United Auto Workers Local 1981, National Writers Union (for ID only); the United National Antiwar Coalition; and Muslims for Social Justice.You will want to be there. For more information, go to Shut Down TRUMP & the RNC on facebook, email [email protected] or call (216) 452-8473.Susan Schnur contributed to this ­article.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

June 12

Sakharov Network requests Chinese dissident Hu Jia’s release

first_img March 12, 2021 Find out more Follow the news on China April 9, 2010 – Updated on January 20, 2016 Sakharov Network requests Chinese dissident Hu Jia’s release The Sakharov Network calls on the European Parliament’s president and the countries of the European Union to take energetic action to obtain the release of imprisoned Chinese human rights activist Hu Jia on health grounds, as Hu is seriously ill.Winner of the European Parliament’s Sakharov Prize for Freedom of Thought in 2008, Hu has been hospitalized in Beijing since 30 March, when his condition worsened. His family fears he may be suffering from liver cancer. The authorities have refused to inform the family about the results of several analyses he has undergone. In a message to the Sakharov Network (the network of past winners of the Sakharov Prize), his wife, Zeng Jinyan, said: “I am very worried about what could happen to him if he is not treated and released as soon as possible.”Zeng, who has herself been under house arrest in Beijing for years, yesterday formally asked the prison authorities to release Hu on medical grounds. Hu was sentenced to three and a half years in prison in 2008 on a charge of “inciting subversion of state authority.”A total of 35 European Parliament members (MEPs) of the Greens, ALDE, EPP and S&D groups, including Daniel Cohn-Bendit and Graham Watson, are the first signatories of a Sakharov Network petition calling for Hu’s photo to be hung outside the parliament building in Brussels. A photo of Burmese democratic opposition leader Aung San Suu Kyi, who – like Hu – is a Sakharov Prize laureate, is already displayed on the building’s facade.“When one of the Sakharov Prize laureates is in danger of dying, the European Parliament and, through it, all of Europe must use all possible means to save them,” the Sakharov Network said. “Today there is an urgent need to save Hu Jia.”The Network added: “If China wants the Shanghai 2010 Expo, which is supposed to embody universal values, to be a success, then it must show compassion and tolerance towards its dissidents.” to go further Receive email alerts News ChinaAsia – Pacific Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes Help by sharing this information Organisation center_img RSF_en April 27, 2021 Find out more News News ChinaAsia – Pacific China: Political commentator sentenced to eight months in prison China’s Cyber ​​Censorship Figures June 2, 2021 Find out more Newslast_img read more

June 12

Adnan Hassanpour

first_imgInformation hero Adnan Hassanpour Razan Zaitouneh Syria Find out more IranMiddle East – North Africa Receive email alerts Help by sharing this information to go further Said Matinpour Iran Find out more IranMiddle East – North Africa center_img Abdul Bary Taher Yemen Find out more Follow the news on Iran The “dean” of Iran’s imprisoned journalists, Adnan Hassanpour was the editor of Asou (Horizon), a now closed weekly, in Marivan, in a western region where most of the population is Kurdish. A Marivan revolutionary court sentenced him to death in 2007 on charges of spying, separatist propaganda and subversive activities against national security. Thanks to his lawyer, and international pressure, the supreme court overturned the death sentence in 2008 after deciding he could not be regarded as mohareb (an enemy of God). When retried, he was finally sentenced to 15 years in prison in 2009. He is in poor health and, according to the latest news, he has been sent to Zahedan prison in the northeastern province of Sistan. So now he is serving a double sentence – imprisonment and exile. Siamak Qaderi Iran Find out more Hanan Al-Mqawab Libya Find out more See morelast_img read more

June 2

Jellyfish procède à l’acquisition de 5 sociétés en appui de l’expansion mondiale de ses nouvelles…

first_imgLocal NewsBusiness Rob Pierre, Chief Executive Officer, Jellyfish Jellyfish procède à l’acquisition de 5 sociétés en appui de l’expansion mondiale de ses nouvelles capacités numériques TAGS  Facebook Pinterest WhatsApp WhatsAppcenter_img By Digital AIM Web Support – February 23, 2021 Facebook Twitter Twitter Pinterest Previous articleBig 12 schedules 12 makeup games week before league tourneyNext articleShuler leads Ole Miss past No. 24 Missouri 60-53 Digital AIM Web Supportlast_img read more

May 31

Back in the Saddle

first_imgMontgomery’s ascension to the FHA’s top position wasn’t an easy one, to say the least. Despite his previous tenure as commissioner from 2005 to 2009—he served under Presidents George W. Bush and Barack Obama—his experience didn’t exactly make for the smooth second confirmation most would expect.His most recent Senate confirmation hearing? Montgomery said it was almost the complete opposite of his first one.“I’d been at the White House and I had already been vetted, so that side of it was fairly quick,” he said of his 2005 confirmation. “I was able to get through a process up on the Senate known as unanimous consent. I got through the committee without any objection.”The first time around, the process took a mere 60 to 65 days, he said. This time, the gap between Montgomery’s appointment— which took place in September 2017—and his eventual confirmation on May 23, 2018, was a whopping eight months. “I can’t imagine that the private sector functions that way,” he said. “We’re a $1.2 trillion book in single-family—$1.3 trillionif you add it all together. It’s critical for us to serve our mission, that we better interact with our partners out there, whether they’re lenders or servicers. There’s been some amazing technological advances in this industry over the last ve or 10 years, and we’ve mostly been left behind.”Still, it’s not just the agency itself that will benefit from technological- and process-related change within the FHA. Montgomery said the end goal is to help homebuyers, lenders, and servicers, too.“We don’t operate in a vacuum,” he said. “We have to operate through lender partners and servicing partners who, in turn, help citizens of our country who want to use FHA. So to the degree that we can wring out those inefficiencies and bring some sort of common sense improvements, I think that makes the process certainly better for the homeowner, maybe for the servicer, and, hopefully, for us.”Changes don’t happen overnight though. Modernization is on the agenda but, Montgomery said, “We can’t just wave a magic wand.”“It’s like turning the oil tanker around,” he said. “It’s lumbering and slow, but there’s some common sense things I think we can do that could at least signal to the folks out there that rely on us that we also rely on them—that we heard you and we’re going to make some changes.” Brian Montgomery Federal Housing Finance Agency FHFA HOUSING HUD mortgage Senate Housing Committee U.S. Department of Housing and Urban Development 2018-11-08 Rachel Williams After sitting vacant for more than four years, the role of Federal Housing Administration (FHA) Commissioner has finallybeen filled. Though there were temporary leaders during that time—Acting Commissioner Dana Wade and Senior Advisor Adolfo Marzol, for example—a presidentially appointed, Senate-confirmed commissioner hasn’t been at the helm since 2014. November 8, 2018 2,077 Views Montgomery likens the vacancy—as well as the now 4.5-year one currently afoot in the office of Public and Indian Housing—to a corporation without a CEO. Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago THE MISSING CEO HIS SIGHTS ARE SETWhen looking ahead, Montgomery said his goals for FHA are twofold: first, strengthen its capital and second, modernize the agency’s processes and technologies.On the former, Montgomery explained, “We have a responsibility to the taxpayers to help balance our mutual mortgage insurance fund and to keep us in an actuarially sound position,” he said. “So, ‘strengthen our capital’ is always tantamount to what we do. Managing our risk is always extremely important.”But xing the agency’s technology, which Montgomery said “has been there a long time,” could help in that regard, too.“Our technology was insufficient my last tenure and, by and large, that technology’s still there,” he said. “Fixing that allows us to not only bring some economy to the scale, but also to help wring out inefficiencies and ultimately actually save us money. This is something that was actually cited in an audit by the Office of Inspector General last year.”Some of the work has already begun. Under the last administration, Montgomery said FHA’s loan-review system, defect taxonomy, and electronic appraisal-delivery system were all overhauled.“Credit goes to them. ey also helped develop the FHA technology roadmap, which we’ve updated,” he said. “That will allow us to move generationally ahead. It hasn’t been done because of the expense, and that’s something I’m trying to do right now, working with Senate and House appropriators and authorizers to hopefully get FHA the money that it needs.”But there’s still room for improvement. As of June this year, FHA had 135 outages in its single-family systems. FHA Commissioner Brian Montgomery is back for round two, but he didn’t have an easy road getting there. Montgomery sits down with DS News to talk tech, strategy, and serving the American people.Editor’s Note: This feature originally appeared in the November issue of DS News, out now. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post “My ethics agreement with HUD and the Office of Government Ethics spells out the limited circumstances under which I would be required to recuse myself,” Montgomery said. “It will not interfere with my ability to perform the duties of FHA Commissioner.”During Montgomery’s two-hour hearing, he discussed everything from the housing crisis and resulting underwriting standards to affordable rental housing and mortgage insurance.“Public service is an honor that I take very seriously, and if confirmed, I will do my best to, once again, further equal access to affordable rental, housing, and homeownership opportunities, and seek solutions to restore vitality to the housing market,” Montgomery told the Senate.He also lauded FHA’s performance during the housing crisis, which occurred during his first tenure as commissioner.“FHA played no role in the housing boom or the collapse, but it was FHA, quite frankly, that stepped in and provided more than a trillion dollars in mortgage liquidity that helped more than 8 million families purchase or retain their homes between 2008 and 2012, and I am extremely proud of the effort that the HUD career staff played in that role,” he said. “Putting an exclamation point on that role, one noted economist said in 2011, quote, ‘If FHA lending had not expanded after private mortgage lending collapsed, the housing market would have cratered, taking the economy with it.’’’When Montgomery was finally confirmed seven months later, HUD Secretary Dr. Ben Carson called to congratulate him.“Brian brings a wealth of housing knowledge and experience to HUD, having held this position in two previous administrations, and we are excited to welcome him back to the agency,” Carson said in a statement. “FHA’s work is critical to HUD’s mission of advancing sustainable homeownership opportunities and quality affordable housing for all Americans. Brian understands this better than anyone and will be ready on day one to address the challenges of today’s housing market.” Back in the Saddle Servicers Navigate the Post-Pandemic World 2 days ago About Author: Rachel Williams The Best Markets For Residential Property Investors 2 days agocenter_img It’s a problem that Brian Montgomery, who was officially confirmed to the position in May, said is doing the country a disservice.“At the end of the day, it’s the American people that lose out,” Montgomery said. “My position was vacant. There hadn’t been a confirmed FHA commissioner since October of 2014. That’s almost four years that position was vacant.” Data Provider Black Knight to Acquire Top of Mind 2 days ago “ That person is the de facto CEO. Could you imagine?” he asked. “ The Public and Indian Housing budget is $25 billion. The FHA budget is $10 to $11 billion. Can you imagine a $10- to $11 billion-dollar company not having a CEO for four years?”Still, the agency wasn’t without guidance during those four years, Montgomery said. He applauds the work of Wade and Marzol, saying they “did a great job”—especially given the difficulty nonconfirmed leaders face in government positions.“Once you have the Senate-confirmed person in the position, it’s much easier to get things done,” Montgomery said. “It’s never easy, but it’s much easier to get things done when the Senate-confirmed person is in there.” Ultimately, a Senate confirmation gives the commissioner more clout—more authority to get things done, Montgomery said. And at an agency that, as he calls it, is “the hallmark for first-time homebuyers,” getting things done is vital. Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Related Articles Demand Propels Home Prices Upward 2 days ago Previous: Digitally Driven Next: The Industry Pulse Sign up for DS News Daily TAKING ON TERM NO. 2 FULL STEAM AHEADNow that the lengthy confirmation process has finally come to a close, Montgomery is plowing full steam ahead, working 12-hour days to steer the ship—and all that is inherent.Most of his time, Montgomery said, is spent in meetings. After all, he’s not just the head of FHA’s single-family unit. He’s also in chargeof the agency’s $90 billion-dollar multifamily portfolio and its $35 billion-dollar portfolio of healthcare facilities and nursing homes.“I’d say, probably, eight hours of my day is in meetings with my staff,” he said. “As you can imagine, there’s a lot of meetings discussing everything impacted within those different program offices.”There’s also the work Montgomery does with other groups—public housing, community planning, and development, etc., to name a few—as well as his speaking engagements and other public appearances, all of which are aimed to further the FHA’s goals and better its work with partner agencies and lenders.Montgomery even spoke at the recent Five Star Conference and sat down with the Mortgage Servicing Alliance to get input from the ‘boots on the ground,’ as he put it.“I like to think we need to hear from what’s happening from what I call ‘boots on the ground’—the day-to-day practitioners, whether it’s in default servicing, loss mitigation, origination, or property management,” he said. “While you can certainly hear that things aren’t working in Washington, D.C., I like to get out to the rest of the country, and this conference, in particular, has provided a great opportunity to do that. Whether it’s me speaking or, more importantly, me listening, I’m able to hear from the day-to-day FHA practitioners what’s working, what’s not working, what could work better, and how it could work better.” Share Save “FHA borrowers are somewhere between 81 to 83 percent first-time homebuyers,” he said. “It’s also been the hallmark of a lot of minority homebuyers.”Because of its unique ability to serve these cohorts—particularly minorities—the FHA is going to be of growing importance in the coming years, Montgomery said. He estimates that 70 percent of new homebuyers will be minorities in 20 years, with Latinos leading the pack in terms of FHA purchases.“We need to make sure FHA is there to help serve that market,” Montgomery said. “Not just for first-time homebuyers, but also to play the so-called counter-cyclical role that FHA has performed heroically several times in our nation’s past, especially after the housing market collapsed in 2007 and 2008, when FHA stepped in.” Subscribe “ This most recent time, the hearing was the complete opposite,” Montgomery said. “I’m the same person, right? Assistant secretaries and commissioners would typically go through unanimous consent. is go-around they’re doing the 30-hour rule for almost every nominee. That’s 30 hours of debate.”During his most recent Senate confirmation hearing, the Trump appointee faced opposition from Sens. Elizabeth Warren and Sherrod Brown, both who questioned his past work with The Collingwood Group—which helped some of the nation’s biggest lenders navigate programmatic and legal challenges. ey also called into question his ability to put aside potential conflicts—particularly with past Collingwood clients like U.S. Bank and Wells Fargo—should he be confirmed. Home / Daily Dose / Back in the Saddle Tagged with: Brian Montgomery Federal Housing Finance Agency FHFA HOUSING HUD mortgage Senate Housing Committee U.S. Department of Housing and Urban Development in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more