GAM Holding sets out plan to pay back investors amid £5.8bn fund crisis

Share Louis Ashworth GAM Holding, the embattled Swiss asset manager, will begin next month to liquidate funds that had been frozen after it suspended the investment director who ran them, the group said today.The asset manager announced earlier this month that it would liquidate nine funds, representing total assets worth SFr7.33bn (£5.82bn). Tuesday 28 August 2018 2:21 pm GAM Holding sets out plan to pay back investors amid £5.8bn fund crisis Shares in GAM tumbled last month after it announced it had suspended one of its top portfolio managers, Tim Haywood, following an internal investigation.It has accused Haywood of breaching policy on gifts and entertainment and using personal email improperly, and raised questions about his record keeping and risk-management procedures.Read more: 60% of asset management firms ‘preparing for hard Brexit’The company said: “All fund investors will receive their proportionate interest in cash from the liquidation process”.It added the priority “is to maximise value for the fund investors throughout the liquidation process, while ensuring equal and fair treatment to all. Because these funds have a mix of mainly liquid assets and some less liquid assets, GAM is focused on ensuring balance between value maximisation with speed of liquidation.” Alexander Friedman, GAM’s chief executive, said: “The suspension and the subsequent decision to liquidate the ARBF funds has been a difficult process, but necessary to ensure that we deliver on our principles of acting in the best interests of all fund investors and treating them equally and fairly. This does not take away from the fundamental strength of GAM as a diversified asset manager.”Read more: UK buyers are returning to the City’s property marketThe funds expect to make the first payments in early September. These would return between 74 per cent and 87 per cent of the UCITS funds, which are Luxembourg and Irish-domiciled, and between 60 per cent and 66 per cent of assets in the Cayman master fund and the associated Cayman and Australian feeder funds.GAM, which is headquartered in Zurich, manages around SFr163.8bn, and employs over 900 people in 14 countries. It offers investment management alongside private labelling services. whatsapp whatsapp read more

Outdated research is driving markets towards a pedestrian investment environment

first_imgHowever, the market has not yet found a natural accepted level for what the value of a typical single stock research note should be.The buy-side will continue to pay for small cap research for the next 18 months, in order to decide who the best providers are, and what “reasonable” research houses actually look like. Only when that point is reached will they have enough data to make informed decisions on whether or not it is more economical to do their own research.This is the window of opportunity for research houses. This means embracing new tools to produce content that is interesting to read, insightful, and unique. A failure to adapt to the new “normal” could be very costly.Read more: Financial advisers warn incoming round of red tape will hurt the industry Outdated research is driving markets towards a pedestrian investment environment The equity research industry has had to contend with a wave of changes over the past few years. The growth of passive investing, increased in-house research capabilities, and new fintech challengers have all placed significant strains on the business model of a traditional equity analyst.It was the implementation of the revised Markets in Financial Instruments Directive (known as Mifid II) in January 2018 that accelerated and exaggerated these trends in a huge shake-up of the industry. The onus is now on that same industry to keep up with these changes and stay relevant in this new world. This could be using satellite imagery to demonstrate footfall on the high streets, analysing Twitter feeds to show sentiment, or even methods such as natural language processing on a chief executive’s talking updates.In particular, small and mid-cap equities are the hunting ground for active fund managers, and continue to be where the biggest growth opportunities remain. For fund managers, it is crucial to find the analysts or research firms who deliver a good service, to provide the edge over their competitors, and deliver returns for their clients.However, while boutique analysts are starting to bring a fresh approach to research, most of the traditional houses are yet to embrace change, and we have seen a decline in both the quality and quantity of investment research produced.A lack of liquidityThe decline of more traditional equity research means coverage of stocks will be focused on the larger end of the market. Under-pressure analysts will be less likely to take a risk producing research on obscure smaller caps when they know that blue chips will continue to drive the trading flows.Meanwhile, smaller research houses will be unwilling to take risks too. A few wrong calls and they will be out of business. Unfortunately, a significant amount of traditional equity research today still gets it wrong. Analysts were largely forgiven for poor research in the old “bundled” world (where research and trading services were sold together). But now that there is an explicit price on each research note, it needs to improve.Read more: Mifid II loopholes are already paving the way for Mifid IIISurely the true measurement of quality research in a post-Mifid II era is to help traders make a decision, one based upon a recommendation that is driven by a new and alternative theory, which ideally is presented to the client ahead of the next company update?In today’s market, however, there are too many people analysing companies using methods and tools that are now outdated in the digital age. The result is a lack of substance or innovative views across most research. Therefore, it is no surprise that most investment institutions have stopped paying for it.The role of technologyThe only way to deliver true unique insight in today’s market is to use alternative data sets, that ignore bias and gut feeling. The analysts now delivering the highest quality research are not afraid to embrace new technologies to analyse their stocks. Michael Horan whatsapp whatsapp This trend – coupled with the increasing adoption of passive products in the UK market – will lead to increased investment in large cap stocks and a more pedestrian investment climate. This means even more consolidation of assets in UK large caps, and a reduction in liquidity for the smaller end of the market.Even for those who have had a buy recommendation for a small cap stock, it can be difficult to find the other side or to get a risk price, even in today’s market. This trend can only continue, and will help passives grow even further.Over the long term, a focus on large cap indices from both research houses and investors means that we could see a hit to smaller company initial public offerings, largely due to a lack of investment appetite, meaning fundraising will need to come from other sources.If interest rates remain lower for longer, it is far more attractive for a company to issue a bond, because the payments are low and they don’t have to pay a dividend. Bonds also come with the bonus of not giving away a share of their company.Crunch time for researchIn a Mifid II world, it is more important than ever for research houses to stay relevant. The quality of research is under forensic measurement like it has never been before. Share Tuesday 18 September 2018 11:38 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushlast_img read more

Alaska prisons to open for visitation, regardless of vaccination status

first_imgCoronavirus | Crime & Courts | State GovernmentAlaska prisons to open for visitation, regardless of vaccination statusApril 28, 2021 by Lex Treinen, Alaska Public Media Share:Spring Creek Correctional Center in Seward. (Anne Hillman/Alaska Public Media)Alaskans in the state’s jails and prisons will be allowed to receive visitors beginning Friday, regardless of whether they are vaccinated for COVID-19.The Department of Corrections announced Wednesday that it was getting rid of the requirement that inmates be vaccinated in order to receive visitors.There are still limitations with the new policy. Physical contact isn’t allowed. Instead, visits will be limited to phone calls in a secure room between a glass barrier. And because of the high demand for visits after a year of COVID-19 restrictions, prisons are limiting visits to 45 minutes once per week, according to Angela Hall, who leads a support group for inmates’ families.“It’s basically one step up from nothing, you know, but at least it’s something,” she said.Hall said her group was previously considering legal action against the Department of Corrections over the vaccine requirement, which prevented her from visiting her husband, an inmate at Wildwood Correctional Complex in Kenai. Hall says he decided not to get vaccinated because of concerns about side effects but felt pressure to get one under the previous policy.“We didn’t think it was right that they would be discriminating between non-vaccinated and vaccinated people,” she said.Health officials have repeatedly stressed that the COVID-19 vaccines approved by the FDA are safe and effective.Anchorage Correctional Complex is still closed to visitors due to recent COVID-19 cases. There are currently four active cases at the jail, a Department of Corrections spokesperson said in an email.About half of the 4,800 Alaskans in state custody have been vaccinated against COVID-19, according to department data.Share this story:last_img read more

Elite Guards Form to Quash Anti-Kim Activity

first_img There are signs that North Korea is running into serious difficulties with its corn harvest North Korea’s leader Kim Jong Eun hasreportedly organized a new unit of “elite guards,” tasked with covertly conducting surveillance operations to counterthreats against him, Daily NK has learned. “The nascent unit, which falls under the DefenseSecurity Command [DSC] of the Chosun People’s Army, began to take form last yearand finished this February,” a source in North Hamkyung Province told Daily NKon Tuesday. “On the surface, it falls under the DSC, but it’s really more like a private unit right under Kim Jong Eun.” She added, “The ‘elite guards’ aren’t tasked with monitoring military officials but all authority figures in general, reporting every bit of information back to Kim Jong Eun,”the source said. “This is to cut off all potential elements that could lead toany type of rebellion and see that all ‘anti-state forces’ are stamped out.” Many of the core tasks assigned to thisspecial unit run parallel to those of the Escort Command, one of the main units thatguarantees the security of North Korean leader Kim Jong Eun, the wider Kimfamily, and top elites. However, the “elite guards” especially focus on preemptive strikes– monitoring sources of potential threat and isolating them if deemed necessary, accordingto the source. The very existence of the new unit suggests the potential for anti-state forces to emerge, she went on, adding that the move further reflects the young leader’s distrust of even his most loyal officials and “broader scale instability.”“Following the execution of Jang Song Thaek,Kim Jong Eun wants to instill a heightened sense of fear among authorities and demonstrate his intentions to boost surveillance and quash any semblance of anti-state activity,” the source speculated.*The content of this article was broadcast to the North Korean people via Unification Media Group. By Daily NK – 2015.04.24 11:58am Facebook Twitter AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] SHARE News RELATED ARTICLESMORE FROM AUTHORcenter_img Elite Guards Form to Quash Anti-Kim Activity North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) US dollar and Chinese reminbi plummet against North Korean won once again News News NewsEconomylast_img read more

Despite blocking attempts, news of Kim Jong Nam’s death suffuses North…

first_img News Rumors of Kim Jong Nam’s assassination have crossed the Sino-North Korean border and reached inland to regions as far as Pyongyang, the capital city, according to inside sources. In order to block the news from spreading, the North Korean authorities are tightening up surveillance and control in the border region, but this is having little effect.   In addition to the news of Kim Jong Nam’s assassination, North Korean citizens are also hearing rumors about the deportation of North Korea’s Ambassador to Malaysia, Kang Chol.  “Ethnic Korean-Chinese people and traders are sharing the news with Pyongyang representatives who visit the area,” said an inside source from Pyongyang during a telephone call with Daily NK on March 9. “These Pyongyang representatives spend a long time abroad, which gives them a good opportunity to be exposed to international news. They became aware of the assassination incident while abroad, and have relayed the story to people back home. Bit by bit, the rumor spread until it could no longer be suppressed.”  These representatives who get dispatched abroad are not affiliated with foreign embassies, but are rather engaged in trade ventures with foreign currency-earning operations. This includes activities in industries like construction and forestry, and the representatives invest in factories with North Korean laborers and act as liaisons for those searching for North Korean laborers.   The authorities have put a gag order on mentioning the assassination and are monitoring the population to enforce the rule, so no one is publicly discussing the incident. But most have mentioned it to their family members, and the information has spread from there. “It is difficult to publicly discuss information that has been learned while abroad, but they typically tell their family, friends, and co-workers, that this news ‘is just for us.’ That is how the rumor started to spread. In particular, the wives of the representatives spread word of the assassination while in the marketplace,” the source explained. The marketplace is serving as a catalyst for the spread of new information related to the assassination of Kim Jong Nam. Merchants who travel all over the country gather together in the marketplace to trade stories and rumors that they have learned about while on the road. This has accelerated the speed at which the rumor has spread. Markets near the border became an early source of the rumor’s spread soon after the assassination popped up in the headlines. Now, a North Pyongan Province source said, “It has already become commonplace to hear people talking about Malaysia in the markets. Market vendors and even little kids are walking around saying, ‘Malay, Malay.’” “We hear lots of rumors in the market stalls,” she explained. “We heard that Kim Jong Un’s brother Kim Jong Nam had died and that the North Korean Ambassador [Kang Chol] to Malaysia has been expelled.”  She explained that North Koreans, on the whole, know that deportation is usually a punishment for a large transgression, and are using it as fodder for jokes, saying things like, “You’re deported!” if someone makes a mistake.  “Even though most people do not know exactly why he was deported, we know that a foreign ambassador has to commit a significant affront to be deported from the host country,” she noted.The Pyongyang source expressed similar sentiments, pointing out that “however much they try to crack down, this is human society. All humans have the urge to learn new information and spread it once they’ve learned it. In particular, this incident is one that North Korean residents could not have expected or even imagined. That’s why it’s spreading so quickly.” “Up until the 1990s, Pyongyang residents referred to Kim Jong Nam as ‘The Heir.’ For those who remember those times, this incident comes as a shock.” But some are already reverting to reticence. “Starting from a few days ago, North Korean traders suddenly became quiet on the issue of the Kim Jong Nam assassination. When asked about it, they simply say, ‘I don’t know.’ This is likely a response to the authorities issuing a gag order that bars North Koreans from discussing the topic. The order is being followed up with tightening surveillance and controls,” a source in the Sino-North Korea border region reported.“It has become harder to communicate with traders from places like Sinuiju and Hoeryong. When I talk with them on the phone, they speak strictly about business and don’t mention anything about current affairs. This might be an indicator that the authorities have even stronger surveillance equipment than they did in the past.”  RELATED ARTICLESMORE FROM AUTHOR News AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] SHARE Despite blocking attempts, news of Kim Jong Nam’s death suffuses North Korea News center_img There are signs that North Korea is running into serious difficulties with its corn harvest US dollar and Chinese reminbi plummet against North Korean won once again North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) By Daily NK – 2017.03.13 5:36pm NewsEconomy Facebook Twitterlast_img read more

Make HIV Testing as A Condition for Employment Illegal – Nelson

first_imgRelatedMake HIV Testing as A Condition for Employment Illegal – Nelson RelatedMake HIV Testing as A Condition for Employment Illegal – Nelson RelatedMake HIV Testing as A Condition for Employment Illegal – Nelson FacebookTwitterWhatsAppEmail Opposition Senator Dwight Nelson, has called on the government to amend the Labour Relations and Industrial Disputes Act, to make it illegal for employers to screen prospective employees for HIV/AIDS.In a resolution brought before the Senate on Friday (Oct.13), Senator Nelson noted that the practice, which he claimed was widespread among Jamaican workplaces, was discriminatory as a prerequisite for employment.The practice, he said further, violated the “fundamental principles and rights at work, undermines efforts for prevention and care and transgresses the International Labour Organization’s (ILO) Conventions 111 and 115, which Jamaica has ratified”.Senator Nelson’s resolution comes in the wake of calls from Chief of Epidemiology and AIDS in the Ministry of Health, Professor Peter Figueroa, that HIV/AIDS testing must only be done at the discretion of the worker.Citing the National Policy on HIV/AIDS, which was accepted unanimously by Parliament last year, Professor Figueroa outlined that, “HIV testing should not be conducted for purposes of employment. This policy is critical in order to avoid discrimination against employing persons, who are living with HIV/AIDS”.While stating that he was in support of health programmes at workplaces, which included private and confidential medicals with voluntary HIV testing, Professor Figueroa said there was no justification for excluding persons living with HIV from the workplace.center_img Make HIV Testing as A Condition for Employment Illegal – Nelson UncategorizedOctober 17, 2006 Advertisementslast_img read more

Logan Art Gallery helps with Christmas gift list

first_imgLogan Art Gallery helps with Christmas gift list Amanda Slater is one of the artists involved with Logan Art Gallery’spop-up store which opens on December 4.The City of Logan’s best artists, craft workers and designers have joined forces for a Christmas extravaganza.They are taking part in the annual Logan treasures: art, craft and design pop-up store which is part of the latest round of exhibitions which open this Friday (December 4).Six of the store’s artists will host a demonstration day in two sessions at the Logan Art Gallery this Saturday (December 5).Participants can drop into the gallery any time between 11am and 12.30pm or between 2pm and 3.30pm.Artists will demonstrate feature print-making, bobbin lace making, acrylic pouring, jewellery, knitting and handmade cards.Social distancing requirements apply within the gallery.The pop-up store, now in its seventh year, has become a Logan tradition and the ideal way to find a handmade and unique Christmas gift.As part of this exhibition round, Daisy Hill artist Richard Blundell will return to the gallery to mark a significant milestone.The artist is celebrating 50 years living in Logan with his fifth solo exhibition Gathering Gold featuring a new series of paintings.Richard will be at the gallery on the exhibition opening night to discuss his works.A staggered opening will be held.Limited numbers of visitors can attend 30-minute sessions at 5pm, 5.45pm or 6.30pm this Friday (December 4).Bookings are essential and can be made by calling 3412 5519.Also featured in this exhibition round will be Faraimo Paulo in his first solo exhibition – Eleni – Navigators of Polynesia.Faraimo often uses his family as models in his works and this exhibition will feature recent paintings depicting traditional stories from Samoa.Regional Arts Development Fund (RADF) recipients Merri Randell and Chris Denaro will present The Krabi Project in the Young People’s Gallery.This exhibition documents the making of an animated film about a fiddler crab from Logan trying to find his family.This project is supported by RADF which is a partnership between Logan City Council and the State Government to support local arts and culture.Logan Art Gallery is on the corner of Jacaranda Ave and Wembley Rd, Logan Central.It is open from 10am to 5pm between Tuesday and Saturday.Entry is free. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Central, council, culture, Daisy Hill, demonstration, Family, gold, Government, Jewellery, local council, Logan, Logan City, Logan City Council, Polynesia, project, Samoa, younglast_img read more

2020 Christmas ornaments with masked flair

first_imgBev Birdwell sells her hand-painted ornaments at the Camas Gallery at 408 NE 4th Ave.Everyone will remember 2020 for a variety of reasons, but COVID-19 will be at the top of most people’s lists. Schools are closed, businesses have either shut down or are working under very modified conditions, and the world discovered Zoom meetings.Everyone has had to adapt and be flexible. So how did one local artist respond?Bev Birdwell has painted for over 30 years. She teaches painting in her home art studio. But for 13 years, she has hand-painted Christmas tree ornaments and sold them at the annual “America’s Largest Christmas Bazaar” at the Portland Expo Center. This year, the event’s sponsor went bankrupt — a casualty of the COVID-19 restrictions. The event was cancelled, with many vendors losing their deposits.Brainstorming ideas, Bev and a friend came up with the idea of characters on ornaments wearing masks. The ultimate symbol of 2020 — a Covid Christmas ornament.Artist Bev Birdwell shows off her unique Covid-themed Christmas ornaments at the Camas Gallery. The creative characters all feature masks and are designed to put a smile on your face. Photo by Mike SchultzArtist Bev Birdwell shows off her unique Covid-themed Christmas ornaments at the Camas Gallery. The creative characters all feature masks and are designed to put a smile on your face. Photo by Mike SchultzBev sells her hand-painted ornaments at the Camas Gallery at 408 NE 4th Ave. They’ve been flying out the door, says owner Marquita Call. You might say they’ve gone viral.People are calling from around the country. Call just shipped an order to Washington, DC, and another to California. She’s sold ornaments to people in Chicago and Atlanta as well.Like the idea of a Santa wearing a mask? Or how about a masked Santa carrying an American flag, with Frosty the Snowman saluting Santa and the flag? There’s a masked Santa holding his bag of toys and a roll of toilet paper. Bev has come up with a considerable number of creative characters.How about Santa and Mrs. Claus with masks, a piece of mistletoe, and leaning towards each other for a Christmas kiss?  For Camas, she’s got a masked Joe Papermaker, the school mascot. For golfers, a masked Frosty is using a candy cane as a golf club with another candy cane marking the pin and the hole. There’s a masked Santa holding a roll of toilet paper in each hand, and a masked Angel holding a red heart. Or a masked Christmas tree with “Oh Quaran Tree” title wearing a 2020 toilet paper banner.We asked what’s selling the best? “Every one of them are flying out of here,” said Call.  “Well over $3,000 so far. I was just at UPS with 13 going to California. I mean, it’s just been insane.” That’s a good problem for a business owner and an artist to have.A display in the Camas Gallery shows off the variety of Covid-themed Christmas ornaments created by Bev Birdwell. Photo by Mike SchultzA display in the Camas Gallery shows off the variety of Covid-themed Christmas ornaments created by Bev Birdwell. Photo by Mike SchultzBirdwell recently helped the American Cancer Society with a fundraiser. Many of her ornaments were offered as incentives to donate to this worthy charity. During the year, Birdwell normally teaches painting from her home with Arts Desire studio. Several years ago she was hired by Susan Scheewe to promote Scheewe paints in Taiwan department stores. But she’s having fun much closer to home this year. Bev is delighted that her unique ornaments are putting smiles on people’s faces at the end of a year marked by COVID.You can see more at the Camas Gallery Facebook page here.AdvertisementThis is placeholder textTags:CamasClark CountyLatestshare 0 Previous : Vancouver City Council approves six month extension of moratorium on fossil fuel facilities Next : Vancouver Parks and Recreation unveils weekly outdoor activities for all agesAdvertisementThis is placeholder text 2020 Christmas ornaments with masked flairPosted by John LeyDate: Friday, December 11, 2020in: Newsshare 0 last_img read more

Re-Shaping Local Recycling

first_img Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. China stopped accepting American plastics earlier this year and, on Feb. 15, so did Flathead County, which had been collecting loads of plastic and tin at containers throughout the county for years.Eight months later, what some hoped would be a temporary action by the Chinese has lingered and in the Flathead Valley it has become more and more difficult, with fewer and fewer options available, for frustrated residents to send their waste somewhere other than the landfill.It’s a struggle that isn’t lost on the man who oversees that landfill, Flathead County Public Works Director Dave Prunty.“We haven’t heard anything on how long ‘temporary’ would be is the best way to phrase it,” Prunty said. “There’s no financial incentive at this point to open it back up; there’s nothing that we see at this point in time that would make logical or financial sense.”For years, China was the single biggest player in the recycling market, gobbling up as much plastic and steel (usually tin cans) as it could from around the world. But over time, China’s recycling facilities were inundated with problematic materials, namely plastic bottles or containers that had not been properly cleaned and incompatible plastics, ones marked something other than 1 or 2, which are the only plastics that Flathead County was supposed to collect.Instead, Prunty said, residents deposited material that could not be recycled, and evidently so did other cities, counties and states around the country. That, ultimately, is what led to China making its decision to pull the plug on American recyclables.“We don’t do a very good job, even in our little program,” Prunty said. “We’ve done all we can and people don’t care. They just kept throwing everything that’s plastic in there.”The county contracts with Valley Recycling, and they ultimately made the decision to stop collecting the recyclable plastics and tin since they could no longer dispose of them in a fiscally responsible way.“If we were in San Francisco, on the coast, and you have a port over there and there’s not a cost, then recycling is a heck of a lot more cost-effective,” Prunty said. “But we don’t have the industry here … so we’ve got to ship it out on a truck and send it to Seattle.”Prunty said that even though plastics amount to a tiny portion of the total refuse the county collects, around .05 percent, there is value in practicing good recycling and not just because it would reinforce the concept of living sustainably to younger generations.“Recycling is more costly for us, usually double to triple the cost of putting the raw material in the landfill, and one side says ‘let’s just landfill it all,’” he said. “Well, over time, you put all those materials in there, over 90 to 95 years (the expected life of the landfill), and landfill space is very costly and very important. We want to make it last as long as possible.”There is one community, Whitefish, still accepting plastic recycling with its vendor, North Valley Refuse, at the corner of Columbia Avenue and Railway Street. Those materials are sent to a single-stream facility, one that processes different types of waste together and separates out recyclable materials. Whitefish residents can also have their recyclables picked up curbside, for a fee, by contacting City Hall.Whitefish, not coincidentally, has been increasingly more focused on its environmental footprint in recent years, adopting a Climate Action Plan in December 2016 that included a goal of accepting more recyclable materials.“If you can do the recycling locally — create the recycled products, ground down the glass — it’s much more environmentally friendly to collect it here and use it here,” Karin Hilding, senior project engineer for the City of Whitefish, said.Glass is not accepted in Whitefish but Hilding said that could be on the table in future years, possibly in conjunction with Xanterra. Glacier National Park’s concessionaire, Xanterra currently accepts glass from the public at its offices in Columbia Falls and has used that material in a number of its own landscape, concrete and other projects.Matt Folz, Xanterra’s director of sustainability, said the company has seen a more than 40 percent increase in glass collection each year since the program began in 2014 and that the community collection site received more than 1,000 pounds of glass each day during the peak summer months.Glass collected in Columbia Falls is picked up by New World Recycling, processed using their glass pulverizer — the only one of its kind in the Flathead Valley — and then sold by New World, including back to Xanterra. New World does not accept glass directly from community members.New World, however, is also facing significant change. Owner Teri Schneider said a personal issue is forcing she and her family to close the business they have owned and operated for eight years at the end of December, although she is hopeful a local buyer will step forward to keep the pulverizer going.“It’s something everybody wants here,” Schneider said. “We’ve put our blood, sweat and tears into this business and it was very hard to say goodbye.”Despite the challenges, Folz and Hilding are still bullish on the future of recycling in the Flathead Valley. Both cited the work being done by the nonprofit group Citizens for a Better Flathead and its WasteNot program that promotes sustainable waste collection and disposal.“I’m in the business of sustainability so I’m always optimistic,” Folz said. “But it’s one of those things where we’re going to have to be better at recycling and have to look at local solutions, and not look at larger markets or other countries.”Flathead County does still accept cardboard and paper recycling at Valley Recycling collection sites. To view a list of locations, click here.To learn more about the WasteNot program, visit www.wastenotproject.org. Those interested in acquiring New World Recycling and its glass pulverizer should contact Schneider at (406) [email protected]last_img read more

Council to consider naming Ramelton street after Professor William Campbell

first_img Pinterest Facebook By admin – November 9, 2016 Pinterest Twitter LUH still not ready to restore IT systems 75 positive cases of Covid confirmed in North Google+ Council to consider naming Ramelton street after Professor William Campbell Lárionad Acmhainní Nádúrtha CTR to take part in new research project Twitter Further drop in people receiving PUP in Donegal center_img Options to name a street or place in Ramelton after Nobel prize winner William C Campbell are to be examined.Earlier this year, the council hosted a Civic Reception in recognition of Prof Campbell’s outstanding achievement in jointly winning the 2015 Nobel Prize in Physiology or Medicine.Prof Campbell was born in 1930 in Ramelton and was instrumental in the discoverty of a drug which proved to have “extraordinary efficacy” in treating River Blindness.Councillor Ian McGarvey has welcomed backing for the proposal, saying Professor Campbell is just one of a number of people worthy of recognition in Ramelton………….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/11/iancampbell.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Homepage BannerNews WhatsApp RELATED ARTICLESMORE FROM AUTHOR Gardai continue to investigate Kilmacrennan fire Pregnant women can receive Covid vaccine at LYIT’s vaccination centre Facebook WhatsApp Google+ Previous articleASTI suspend action as attempts to solve pay row intensifyNext articleDonald Trump is President-Elect of the USA admin last_img read more