Speaker insists Vermont Legislature will go home May 7

first_imgAnne Galloway is editor of vtdigger.org by Anne Galloway, www.vtdigger.org(link is external) April 27, 2011 Spring is in the air, and the internal atmosphere of the Golden Bubble is a little odd at the moment. Lawmakers have finished their hardest exams (the budget, tax and health care bills), but they still have all these assignments left that must be finished in order to avoid getting an incomplete. That doesn’t mean there won’t be changes made to bills in conference or that there won’t be differences of opinion over legislation that is still in motion on the House and Senate sides over the next 10 days.But, Smith said, ‘I don’t think we’ve seen the bill that could blow up.’The bills still in the hopper most likely to launch a volley once they’re in play: telecomm, energy, recidivism and the jobs bill. Several issues attached to those bills, namely a retroactive current use penalty reversal for a logging violation by the national corporation Plum Creek, and the governor’s plan to fund the Clean Energy Development Fund using a grant program instead of a tax credit could be trouble.Smith says it all comes down to timing. He’d like to get the energy and jobs bills out, but he seemed to indicate there could be a few incompletes in the offing. ‘Time is getting short,’ Smith said. ‘Energy is currently on the list. I hope it will pass.’There are still a number of items to check off the list, including the medical marijuana dispensaries bill (passed by the Senate, passed out of House Human Services on Tuesday, 8-2), the public records bill (expected to come out of Senate Government Operations today), the open meeting bill (passed by the Senate, now in the House), the palliative care bill (passed by the House, now in the Senate), and the childcare worker unionization bill. The latter, which Smith supports, is expected out of committee next Monday, whether it will meet muster before adjournment is an open question.Smith said he will ask lawmakers in the House to come in on Monday, which they typically have off, in order to make the May 7 deadline.Them’s the rulesThe House GOP, is small (48 members) and consequently unable to turn bills, but at the beginning of the session, Rep. Don Turner, R-Milton, minority leader, and Rep. Patti Komline, R-Dorset, assistant minority leader, made two demands of the Democratic leadership that have had lasting impact. One was a requirement that every bill come with a ‘fiscal note,’ a rundown of any budgetary impacts a piece of legislation might have from the Vermont Joint Fiscal Office.The second is a 24-hour rule for all legislation that comes to the floor. By rule, that’s the standard time in which legislation must be presented to members. Typically, though, as is the case in the Senate, rules are suspended in the interest of expediency. Turner has said members need a full day to read bills before they come to a vote.The House GOP has said, in no uncertain terms, that it will not allow the House Democratic leadership to suspend the rules to rush bills through the same day. Period. And, because the House needs a three-quarters majority to do so, it can’t move to suspend without GOP votes.A case in point? The health care reform bill, H.202, which was held up today because the House GOP wouldn’t suspend the rules to allow the bill to go to conference committee.House Speaker Shap Smith said his schedule has built-in the 24-hour rule in place.Turner is unshakable on this score. If it gets late in the session, and rule suspensions are called for to meet the May 7 deadline for adjournment, too bad. They remain immutable. ‘The Speaker controls the schedule,’ Turner said. ‘If bills sat in committee for three to four months we get blamed ‘ then we hear you didn’t suspend the rules, so it’s your fault.’Both the House and the Senate have named ‘conferees,’ or the representatives for conference committee.Another sticking point between the Speaker and the minority party is likely to be the appointees for the health care conference committee. Turner wants to make sure there is a GOPer in the mix, and he seems to think the Speaker won’t name a Republican on the committee. (Smith has yet to name the members.)Turner is ready to invoke the Mason’s legislative manual and call for a point of order if the Speaker makes that omission.Is the Speaker required to name a member of the minority party on conference committees? No, according to Smith. Will he name a Republican to the committee? ‘Someone from their team should have voted for the bill,’ is his ready response. Mason’s rules are trumped by the practice of the House, and in practice, lawmakers from the minority party who voted for the bill are appointed. Problem is, not a single member of the House GOP cast a yea for H.202. Smith said to expect a skirmish over that one.Turner points to an exception in 2009 when Rep. John Morley was named to the budget conference, even though he voted against it. Smith said he broke with practice that one time because he needed someone on the committee who could communicate directly with the administration ‘ the year the House overrode the budget over Republican Gov. Jim Douglas’ veto.Here’s a list of the conferees for the money bills.AppropriationsHouse: Heath, Johnson, Acinapura (R)Senate: Kitchel, Sears, Snelling (R)Miscellaneous taxHouse: Ancel, Branagan (R), SharpeSenate: Cummings, MacDonald, Ashe (P/D)Capital construction billHouse: Emmons, Myers (R), HooperSenate: Harwell, Mazza, Benning (R) last_img read more

Private debt activity slowed sharply in 2019, but 2020 starts crowded

first_imgFundraising and deal-making in the private debt market declined sharply last year although fund managers have kept launching new vehicles, according to data provider Preqin.In 2019, 152 funds reached a final close, securing a combined $107bn (€96bn) from investors, the lowest annual total since 2015 and an 11% decrease compared with 2018.Last year marked the first time since 2014 that the industry did not cross the 200 and $100bn thresholds for fund closes and fundraising volumes, according to Preqin.There were 830 private debt-backed deals with an aggregate value of $48bn in 2019, marking the end of a steady rise in the number of deals and aggregate deal value since 2009. At the beginning of this month there are 436 funds in the market targeting a combined $192bn, compared with 399 and $168bn in January 2019, respectively, and 354 and $169bn at the start of 2018.“Suggestions that the [private debt] market has reached saturation are not fully substantiated, but many investors do seem to be holding off on making commitments, and fundraising has seen its largest ever year-on-year decline,” said Tom Carr, head of private debt at Preqin.“But long-term appetite among investors remains robust, and fund managers certainly believe that there is significant potential yet to be tapped. They will point to declining dry powder as an indication that they are still able to put capital to work, and this may prompt investors to start making commitments again and boosting 2020 fundraising activity.”BNPP AM partners with German SME loan originatorIn other news, BNP Paribas Asset Management (BNPP AM) has added a Germany prong to its small and medium-sized (SME) alternative financing platform, partnering with German digital SME finance provider platform creditshelf.Creditshelf will originate unsecured SME loans between €500,000 and €5m with a term of five to eight year for BNPP AM’s institutional investor clients. The asset manager will make the final credit decision on the loans.Stéphane Blanchoz, head of BNPP AM’s SME alternative financing business, said: “Our partnership with creditshelf will allow us to bring our unique SME loan product to the German market, alongside our existing offering in the UK and the Netherlands.”Banks in Germany do not typically offer terms of five to eight years for unsecured growth financing, noted Daniel Bartsch, founding partner and board member of creditshelf.BNPP AM’s SME alternative financing platform is part of the asset manager’s private debt and real assets investment group. It already has strategic partnerships with origination platforms CODE Investing and Caple; it has a 10% stake in the latter. In 2018 there were nearly 1,400 deals with a total deal value of more than $75bn.center_img Dry powder fell from a peak of $292bn at the end of 2018 to $261bn as of December 2019. This marks the first time the cash pile shrank since 2014 as fund managers deployed capital at a faster pace than they raised it during the year.However, new funds continue to be launched and the marketplace is more crowded than it has been since 2017, according to Preqin’s data.last_img read more

Setback: Bundesliga side FC Cologne reports 3 coronavirus positive tests after resumption of training

first_imgImage Courtesy: CBS SportsAdvertisement wNBA Finals | Brooklyn Vs936h9Wingsuit rodeo📽Sindre E1r82gq( IG: @_aubreyfisher @imraino ) aoWould you ever consider trying this?😱6jnfr1Can your students do this? 🌚3a7yzRoller skating! Powered by Firework World sport has been on hold since the novel Coronavirus outbreak turned into a pandemic and started spreading globally. After several postponements in the past months, many top European football leagues have started to cancel the ongoing season. However, some leagues have still kept the current season on hold, one of them being the Bundesliga. FC Cologne, one of the popular clubs out of the German league had even resumed training. The unfortunate result of it is three confirmed COVID-19 cases in the club.Advertisement Image Courtesy: CBS SportsWhile the German government has postponed any decision regarding any sporting activity in the country until May 6th, some Bundesliga clubs, including FC Cologne are already populating the training grounds, even though there is no confirmed date on the restart of the league yet.However, after the confirmation of three Coronavirus cases, Cologne has put their entire squad, officials and staffs undergo testing on Thursday. The news was confirmed through a statement on the club’s official website.Advertisement “FC Köln had the entire team and coaching staff, along with the backroom staff, tested on Thursday for COVID-19. Three people tested positive, all are symptom free.” the statement read.“After an assessment of the cases by the responsible health authorities, the three people who tested positive will go into a 14-day quarantine at home,” the statement added.Advertisement Cologne has also chosen not to reveal the identities of the three COVID-19 affected patients.“The health and private sphere of players and staff have priority above all else,” Horst Heldt, Cologne’s managing director added on the situation, “the previous measures, as well as the strategy of regular tests, have proven themselves so that we can now react with individual solutions.”Christian Seifert, chief executive of German Football Association (DFL) had recently touched on the option of a behind closed doors return of Bundesliga on 9th May. Although, with the further delay on the government’s announcement regarding sports, it is unlikely that there will be any footballing action in Germany in the upcoming weeks.Cologne currently sit in 10th position in the league table, with 32 points from 25 matches.Germany has seen over 164,000 positive Coronavirus cases till date, and 6736 patients have succumbed to the virus.If you like reading about MMA, make sure you check out MMAIndia.com Also follow India’s biggest arm wrestling tournament at ProPanja.comAlso read-US Women’s football team goes to court over equal pay…and loses due to insufficient evidence!Serie A clubs unanimous in their decision to finish the season Advertisementlast_img read more