Vermont hospitals see budget increases cut by regulator

first_imgVermont’s chief regulator has decreased Vermont hospital budgets from the requested 6.4 percent system average rate increase to 5.9 percent. This will reduce operating revenues by $5.9 million. Individual hospital rate requests ranged from 4.0 percent to 8.8 percent. The requests totaled an increase of $100.7 million in operating revenues. Brattleboro Memorial Hospital asked for the biggest increase of 8.8 percent and also had the biggest adjustment, resulting in a revised rate increase of 7.1 percent. Several hospitals increases were not adjusted. North Country Hospital in Newport had the smallest increase, 4 percent, which was granted.Paulette J. Thabault, Commissioner of Banking, Insurance, Securities, and Health Care Administration (BISHCA), announced the her decision on 2010 hospital budgets on September 15, 2009. Part of the department s mission is to help ensure that all Vermonters have access to affordable, quality health care.In keeping with that mission, the Legislature recently reaffirmed BISHCA s charge to oversee hospital budgets. Hospitals were asked to do their utmost this year to limit costs to consumers and minimize the impact on insurance rates.Commissioner Thabault said, The budget approval process is always a careful balance of concerns, but we know that hospital expenses make up roughly 40 percent of our health care costs, and those costs directly fuel insurance premiums. The hospitals testified about their budgets at public hearings held over a three-day period before Commissioner Thabault and the Public Oversight Commission (POC).The Vermont hospital fiscal year for 2010 runs from October 1, 2009 through September 30, 2010.The commissioner established the following rates for the FY 2010 hospital budgets:The law requires that hospital budgets must be consistent with the Health Resource Allocation Plan adopted by the Governor on July 1, 2009; must compare to appropriate national, in-state, regional and peer group norms; must evidence efficient and economic operation of the hospital; and must reflect budget performance in prior years. The Commissioner considered the comments of the Public Oversight Commission and also evaluated the following factors:Department targets for inflation and utilization increases, the numerous changes occurring in government and insurance reimbursement, pressures in the overall economy, hospital physician acquisitions, the challenges associated with recruiting medical professionals to Vermont, hospital investments in information technology, the need for operating margins, a hospital s budget performance in prior years, price, quality and patient satisfaction information, and the unique circumstances of each hospital.Source: Vermont Division of Health Care Administration. 9.15.2009last_img read more

Home Builders and Remodelers Association of Northern Vermont award winners

first_imgCondominium Peregrine Design Build49 Commerce Avenue, Unit A1South Burlington, VT 05403802-383-1808 Best Renovated Kitchen – Cost Over $50,000Kitchens by Design1010B Ethan Allen HighwayGeorgia, VT 05468802-524-2900Click Here to see more photos and all entries in this category.Sponsored by r.k. MILES, Inc.Winner Best New KitchenBeacon Hill Builders & Associates505 Beacon HillMorrisville, VT 05661802-888-5589Click Here to see more photos and all entries in this category.  Sponsored by People’s United BankWinner Most Innovative Marketing Piece Craig Hervey Housewright Construction, Inc.5365 Main Street SouthNewbury, VT 05051802-866-5520 Energy Efficiency Award Best Renovated Kitchen – Cost Under $50,000 Neal Speer Construction Company, Inc.20 South River StreetSwanton, VT 05488802-868-4277Click Here to see more photos and all entries in this category.Sponsored by Rice Lumber CompanyWinner Sponsored by Ward & BabbWinner Residential Renovation- under $100,000Resourceful Renovator234 Mill Brook Road Jericho, VT 05465802-999-3430 Residential Renovation Over $401,000 K Puls Management, LLCPO Box 12Bristol, VT 05443802-453-2265Click Here to see more photos and all entries in this category.  Sponsored by Curtis Lumber CompanyWinner Residential Renovation – $101,000-$250,000Sandra Vitzthum, Architect LLC46 East State StreetMontpelier, VT 05602802-223-1806Click Here to see more photo and all the entries in this category.Sponsored by Sticks & StuffWinner Sponsored by Curtis Lumber Company Winner Luxury Home Cost $500,000 to $1,000,000Bickford Construction Corp.PO Box 1536Williston, VT 05495802-872-7600Click Here to see more photos and all entries in this category.  Sponsored by Curtis Lumber CompanyWinner Single Family Home Over 3,000 Square Feet- Cost under $500,000Hayward Design Build302 Mountain View Drive, Suite 300Colchester, VT 05446802-578-3078Click Here to see more photos and all entries in this category.Sponsored by S.D. Ireland Concrete Construction CorporationWinner Most Innovative Design/BuildTom Moore Builder, Inc.PO Box 131Underhill Center, VT 05490802-899-2376Click Here to see more photos and all entries in this category.Sponsored by Sterling Construction, Inc.Winner Tom Moore Builder, Inc.PO Box 131Underhill Center, VT 05490802-899-2376 Sponsored by Efficiency Vermont – Vermont Energy Star HomesWinner Best Associate Website Curtis Lumber Company Inc.349 Leroy RoadWilliston, VT 05495802-863-3428 Best Landscaping Morning Dew Landscaping & Stonework290 Westall DriveRichmond, VT 05477802-760-7577Click Here to see more photos and all entries in this category.Sponsored by Curtis Lumber CompanyWinner Associate of the YearJeff Gephart, VermontWise Energy ServicesPO Box 258Rochester, VT 05767800-893-1997The Associate of the Year Award is presented to the Associate member who has shown the most commitment to the Association over the past year.  This can involve committee participation, attendance at membership events, testifying at the Statehouse, and membership recruitmen/retention to name a few.  This can be presented to an individual or an entire company.  Jeff Gephart of VermontWise Energy Systems has been active in the both the Northern and Southern Home Builders and Remodelers Association since 1994.  His dedication to energy efficiency and green building practices has helped to improve the housing stock in Vermont, and has made Jeff one of the ‘go-to’ experts in the field when it comes to incorporating more green building practices and energy efficiency techniques into a home.  Congratulations Jeff!  Commercial – New / Renovation Vorse Construction & Design, Inc.26 Parsons RoadColchester, VT 05446802-373-4130Click Here to see more photos and all entries in this category. Sponsored by Curtis Lumber CompanyWinner Single Family Home 2,001-3,000 Square Feet Roundtree Construction, Inc.PO Box 99New Haven, VT 05472802-453-4044Click Here to see more photos and all entries in this category. Sponsored by Lang McLaughry SperaWinner Sponsored by Curtis Lumber CompanyWinner Best Builder Website Crowley Construction Company, Inc.154 Brentwood Drive, Unit 4Colchester, VT 05446802-863-1983Click Here to see all other entries in this category. Single Family Home Under 2,000 Square FeetSouth Village Communities, LLC130 Allen Road EastSouth Burlington, VT 05403802-861-7600Click Here to see more photos and all entries in this category.Sponsored by Vermont Housing Finance AgencyWinner Sponsored by RE/MAX North ProfessionalsWinner AWARDS LIST:Lifetime Achievement Award was given to Jim Dousevicz, Dousevicz, Inc. based in Essex Junction, Vermont. Builder of the Year Award was given to Ward Smyth of Turtle Creek Builders Ltd. based in Waitsfield. Remodeler of the Year was awarded to Joe Meccia of Joseph Meccia Builder LLC of Huntington.   Associate of the Year was given to Jeff Gephart of VermontWise Energy Services. Category winners were: Best Landscaping – Morning Dew Landscaping & Stonework, Richmond Commercial: New/ Renovation – Vorse Construction & Design, Inc., Colchester Condominium – Peregrine Design/Build, South Burlington Residential Renovation Under $100,000 – Resourceful Renovator, Jericho Residential Renovation $101,000 – $250,000 – Sandra Vitzthum, Architect, LLC, Montpelier Residential Renovation $251,000 – $400,000 – K Puls Management, LLC, Bristol Residential Renovation over $401,000 – K Puls Management, LLC, Bristol Single Family Home Under 2,000 Square Feet – South Village Communities, LLC, South Burlington Single Family Home 2,001 ‘ 3,000 Square Feet – Roundtree Construction Inc., New Haven Single Family Home Over 3,000 Square Feet:  Cost Under $500,000 – Hayward Design Build, Colchester Luxury Home $500,000 – $1,000,000 – Bickford Construction Corporation, Williston Luxury Home Cost Over $1,000,000 – Perkins Smith Design Build, Shelburne Best New Kitchen – Beacon Hill Builders & Associates, Morrisville Best Renovated Kitchen under $50,000 – Neal Speer Construction Company, Inc., Swanton Best Renovated Kitchen over $50,000 – Kitchens by Design, Georgia Best Bathroom: New / Renovated – Kitchens & Interiors International Design, Shelburne Best Feature – Leach Construction of Vermont, Jericho Best Design Feature – DPF Design, Inc., White River Junction Most Innovative Design Build – Tom Moore Builder, Inc., Underhill Center Best Builder Website – Crowley Construction Co., Inc., Colchester Best Associate Website – Curtis Lumber Company, Williston Most Innovative Marketing Piece – Craig Hervey Housewright Construction, Inc., Newbury Environmental Excellence Award – Yandow Green Builders, St. George Energy Efficiency Award – Tom Moore Builder, Inc., Underhill Center For a complete listing of this year’s winners visit www.vtbuilders.com(link is external)The Home Builders and Remodelers Association of Northern Vermont is a trade association, comprised of 500 members, who build, remodel homes, or supply products and services to the home building industry. The Association is a leading advocate for the affordable construction of housing to all Vermonters.## Environmental Excellence Award Yandow Green Builders5108 Oak Hill RoadSt. George, VT 05495802-343-8308 Sponsored by Curtis Lumber CompanyWinner Sponsored by Efficiency VermontWinner Residential Renovation – $251,000- $400,000 K Puls Management LLCPO Box 12Bristol, VT 05443802-453-2265Click Here to see more photos and all entries in this category.Sponsored by Wallboard Supply CompanyWinner Best Feature Leach Construction of Vermont30 Bradley Bow RoadJericho, VT 05465802-434-5578 Click Here to see more photos and all entries in this category.   Best Bathroom – New/Renovated Kitchens & Interiors International Design3198 Shelburne RoadColchester, VT 05446802-985-8001Click Here to see more photos and all entries in this category.  Sponsored by Curtis Lumber CompanyWinner Sponsored by Curtis Lumber CompanyWinner Best Design Feature DPF Design, Inc.85 North Main Street, Suite 130White River Jct, VT 05001802-295-5064Click Here to see more photos and all entries in this category. Luxury Home Cost over $1,000,000 Perkins Smith Design BuildPO Box 100Shelburne, VT 05482802-985-5464Click Here to see more photos and all entries in this category.Sponsored by Curtis Lumber CompanyWinner Sponsored by Curtis Lumber CompanyWinner On Tuesday, October 18, 2011 the 34th Annual Home Builders and Remodelers Association of Northern Vermont’s (HBRANV) Better Homes Award Banquet was held at the Sheraton Hotel and Conference in Burlington.  Over 375 people involved in the homebuilding business attend this year’s banquet.  This banquet, known as the ‘Academy Awards’ for the Home Building Industry, highlights builders for projects that they submit to the program.   The Home Builders and Remodelers Association of Northern VT 2011 Better Homes Award WinnersScroll down the page to view the full list. Lifetime Achievement Award Jim Dousevicz of Dousevicz, Inc.21 Carmichael Street, Suite 201Essex Jct., VT 05452802-879-4477Picture:  Brad, Jim & Jed DouseviczThe Lifetime Achievement Award is presented to the member who has give much of their life to the building community and has been a member for a number of years.  The past receipients have all been members held in high regard that have made an impact on the housing industry in Vermont.  Jim Dousevicz, of Dousevicz, Inc. is this year’s Lifetime Achievement Award winner.  A member of the Home Builders since he started his company in 1991, Jim has worked tirelessly through the years to provide housing opportunities to countless Vermonters of all ages, from senior citizens living on fixed incomes, to newly married couples looking for their first starter home.  Jim’s commitment to the housing industry has been unparalleled, and today the tradition of a family owned and operated business is carried on as Jim works beside two of his sons, Jed and Brad.  Thank you Jim for your dedication to housing in Vermont and congratulations on receiving the 2011 Lifetime Achievement Award! T. Wayne Kondor Builder of the Year Ward Smyth, CGP, CGB, CAPS of Turtle Creek Builder Ltd.4 Mad River Green, PO Box 760Waitsfield, VT 05673(802) 496-2206 The T. Wayne Kondor Builder of the Year Award, named after the late Wayne Kondor, was developed to highlight a builder member that is involved in the Association, as well as the community.  The past recipients have been members that have given a tremendous amount of time and energy to the Association as well as to their community.  Ward Smyth, of Turtle Creek Builders has been one of the most active members of the Home Builders in recent years.  Serving as President of the Association in 2010, Ward also is a member of the Green Council, and the Government Affairs and Education Committees.  As a strong supporter and proponent of the building trades, Ward regularly testifies on behalf of the Association at the State House in Montpelier, has been interviewed by various media outlets, and has served on study committees as an expert in the residential field.  Ward’s dedication to the industry and profession is unmatched.  Congratulations Ward on being awarded the 2011 T. Wayne Kondor Builder of the Year! Remodeler of the YearJoe Meccia, CGP of Joseph Meccia Builder, LLC 1330 Main RoadHuntington, VT 05462802-578-5903 The Remodeler of the Year Award is presented to a member who specializes in remodeling.  Past recipients have been active in the Remodelers Council, the Association as well as their community.  Joe Meccia, of Joseph Meccia Builder, LLC has been helping people remodel their homes since 1987.  Whatever the customer needs Joe can do.  Whether it’s finishing a bathroom, installing new windows, building a new porch, or a cupola, Joe is ready to help his clients bring their vision for their home to life.  Joe has been an active member of the Association since 2004, has earned his Certified Green Professional designation from the National Association of Home Builders and can be found regularly at Remodelers Council meetings.  Congratulations Joe on being named the 2011 Remodeler of the Year! last_img read more

Builders, bankers and risk

first_imgOur last article, titled “Builders and Bankers,” highlighted the difference in leadership style between builders and bankers, using the analogy of building a hot fire in a wood stove vs. banking the coals to keep the heat constant through a chilly night. Builders can get a blazing fire going from virtually nothing; they’re the serial entrepreneurs, the innovators, the cutting edge leaders of the business world. Think Steve Jobs, Elon Musk, Mark Zuckerberg. Bankers are the leaders who can keep the business going for the long haul. Think Jack Welch, Warren Buffett, Indra Nooyi (PepsiCo).We argued in the last article that the credit union industry has many great bankers, but fewer true builders – and that if we truly want to remain competitive in an increasingly innovative financial services marketplace, we need an equal share of builders. We also noted that builders and bankers generally seek to surround themselves with their own kind, but that this can create real friction, as builders tend to compete with other builders, and bankers tend to compete with other bankers, while builders and bankers working together complete each other. To build a healthy credit union that innovates and creates lasting value out of that creative energy, we need to assemble balanced teams whose leadership styles complement one another, both in our executive suites and our boardrooms.In this installment, we’ll look at some key differences between builders and bankers, focusing on one critical aspect of the characteristics of the two: risk-taking.Builders are unafraid of taking risk. In fact, they thrive on it. They take energy from challenging the status quo, are likely contrarians, and may have something of a rebellious streak. Bankers are willing to assume calculated risks, but prefer to avoid the “unknown unknowns.” They tend to be more cautious, and sometimes may appear to suffer from “analysis paralysis.” Failure is never an option for bankers, while builders tend to forget their failures quickly, and move on to the next challenge.On the flip side, builders often need to be reined in to some degree. Left to their own devices, they may forge ahead down a path whose end can’t be seen, sometimes leading their organizations to the brink of disaster. At that point, their lack of fear of failure can threaten the organization’s long-term well-being. That’s where bankers come in; working as a team, the banker can temper the builder’s swashbuckling style, playing devil’s advocate.Bankers, on the other hand, sometimes need to be pushed to steer into uncharted waters. Their natural tendency is toward the familiar. And that’s where a builder can be a good complement. They challenge the banker to move outside his or her comfort zone, to inspire an element of derring-do.However, both styles must be willing to work in tandem. Both have their egos, and both tend to believe their way is the right way – and will defend their position aggressively. The builder has to be willing to temper his unbridled enthusiasm for the thrill of chasing the unknown, of going for the big hit. The banker has to be willing to step out of the confines of safety and take chances, to swing for the fences. So it’s vital that both be willing to check their egos, avoid the “I told you so” game, and above all, listen to their counterpart.Working together in a healthy environment of mutual respect and open, honest communication, builders and bankers can optimize risk-taking, driving results that otherwise couldn’t be achieved. A team of builders might build an organization that blazes like a comet, only to burn out when it hits the oxygen of reality. A team of bankers might create a “corporate train” that chugs along in perpetuity, but never realizes its full potential, and ultimately is passed by.How did the notable builders we named above create lasting value from what they’d built? Simple: they surrounded themselves with bankers. Steve Jobs brought Tim Cook into Apple when he returned in 1998 to the company he founded, having learned from his earlier mistakes. The fiery Zuckerberg brought Sheryl Sandberg to Facebook in 2008, leading to a shift from novelty to profitability. Musk’s innovative Tesla appears to be still finding its way, perhaps in need of a solid banker to turn the corner from innovative upstart to competitive brand.Similarly, we see very little in the way of innovation from banker-led enterprises such as Berkshire Hathaway and PepsiCo, just steady, stable performance. In fact, Warren Buffett’s success has been predicated on investing in steady-as-you-go, staple companies. You won’t find a high-flying tech start-up in Berkshire Hathaway’s portfolio. And PepsiCo tweaks, but it doesn’t really innovate.We at The Rochdale Group spend the majority of our time focused on risk. Through our work in Enterprise Risk Management (ERM), Risk Appetite, and risk-focused strategic planning, we’ve found that most credit unions do a very good job of mitigating the risk of out-of-pocket losses. This is consistent with the observation that we have more bankers than builders in credit union land; bankers tend to be risk-averse, and the first order of risk aversion is loss aversion.But there’s another side to risk: opportunity cost. We’ve found that credit unions are less adept at mitigating opportunity cost, which again is consistent with our builders and bankers theme. Mitigating opportunity cost means taking calculated risks to capitalize on opportunities, even though doing so may lead us into the unknown. It’s possible – in fact, it’s human nature – to be loss-averse without necessarily being risk-averse (we’ll explore that in our next article).A sound ERM program will enable a well-constructed team of builders and bankers to assess organizational risk, in both quantitative and qualitative terms, helping to strike a balance between the two leadership styles. ERM also focuses on both sides of the risk coin: out-of-pocket loss mitigation and opportunity cost mitigation (i.e., optimized risk-taking). Assessing Risk Appetite is critical in balancing the willingness to assume risk in different situations, aligning that willingness on the part of management with each other, and with that of the board. Both tools are key in effective strategic planning.For more information on incorporating ERM, Risk Appetite and risk-focused strategic planning into your credit union’s toolbox, contact Jeff Owen, Senior Consultant with The Rochdale Group, at (800) 424-4951, ext. 8011 or jowen@rochdalegroup.com. 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Brian Hague Brian has more than 25 years’ experience in financial institutions and the capital markets, and has devoted 21 years to serving credit unions through various roles at CNBS, LLC, a … Web: www.rochdaleparagon.com Detailslast_img read more

NCUA receives $400 million from Credit Suisse settlement

first_img continue reading » The NCUA has received $400 million from Credit Suisse for claims filed in connection with purchases of residential mortgage-backed securities by three corporate credit unions, the agency announced Wednesday.The agency said legal recoveries in connection with the failed corporate credit unions have reached $5.1 billion.Last week, the agency announced that it had recovered $445 million from UBS in connection with similar claims.“NCUA has pursued litigation for nearly six years with the aim of holding responsible parties accountable and reducing the burden of Stabilization Fund assessments on credit unions,” NCUA Acting Board Chairman J. Mark McWatters said.The Credit Suisse settlement are for claims arising from losses that occurred as a result of the purchase of residential mortgage-backed securities by U.S. Central Federal Credit Union, Southwest Corporate Federal Credit Union, and Western Corporate Federal Credit Union. 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Managed business space

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

The Gold Coast’s star property performers revealed in national top 50 list

first_imgAcross Australia, the report highlighted 44 suburbs where the change in median value was more than 10 per cent in the past 12 months. “(The) report provides you with a starting point when considering purchasing property and helps identify areas where change in median value has historically been strong,” the report read. “For sellers, it helps you to understand how your suburb has performed and provides an indication of the likely capital gain you should hope to realise upon sale.” Benowa house prices increased 12.9 per cent to a median value of $928,837, which saw it ranked 18th.Bundall came in at No. 31 thanks to a 11.4 per cent rise to a median house value of $1,042,112. They were two of four Queensland suburbs featured on the list, alongside Port Douglas and the Fraser Coast’s Glenwood. Houses in Howlong, a small country town on the border of NSW and Victoria, topped the list thanks to a median value that jumped 24.2 per cent to $305,209. REIQ Gold Coast zone chairman John Newlands. Picture: Steve HollandReal Estate Institute of Queensland Gold Coast zone chairman John Newlands said there were still a lot of affordable options to be found in Benowa and Bundall. “The affordability in those areas has been quite good and their geographic location (is a selling point),” he said. “The Coast is growing and they are very central locations with quite a large number of schools, shopping centres and not far from the beach.”Mr Newlands said the values for both suburbs, which sat near the million-dollar point, could be skewed due to a lot of sales at the top end, but said if buyers had been priced out of the areas to look to neighbouring suburbs. A property in the Royal Pines estate at 2/5018 Riverwood Grove, Benowa, is on the market for more than $880,000.Harcourts Coastal agent Grant Stephens said Benowa and Bundall were two areas that were finally “catching up” with the rest of the Gold Coast market. More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago“They have been undervalued for some time given their location,” he said. “Those suburbs have played catch up with the rest of the market and that’s why they have jumped so well.“Timing is everything, so get in before they keep rising.” Mr Stephens said Bundall had been attracting a lot of interstate buyers, while Benowa’s Royal Pines resort was drawing a lot of international attention. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWays to get into the property market for less00:29 Australia’s star performers for 2019 have been revealed with two Gold Coast suburbs making the top 50 list.TWO burgeoning Gold Coast suburbs have been named among the country’s star property performers. Benowa and Bundall ranked in CoreLogic’s Top Performing Suburbs report, released this month. The national best 50 list identified the suburbs across Australia that have performed strongly and consistently across an extended period of time. MORE NEWS: Industry slams QLD rental reformsMORE NEWS: Regal residence has jaw-dropping price last_img read more

New deals pour in for Ensco rigs

first_imgOne of Ensco’s jack-up rigs – Copyright SPMac/Flickr – Shared with permission from the photographerOffshore driller Ensco has been awarded a number of new contracts and extensions. While Ensco’s large fleet consists of drillships, semi-submersibles, and jack-ups, the majority of new deals went to the jack-up rig department. In its latest fleet status report issued on Thursday Ensco reported that the semi-submersible Ensco 8503 has been awarded a 100-day contract with Talos Energy in the U.S. Gulf of Mexico that is expected to start in November 2018 and end in February 2019.The rig’s current contract with Deep Gulf Energy expires in August.Further according to the fleet status report, Ensco DS-12 drillship’s contract with Kosmos Energy offshore Suriname has been extended by one well with an estimated duration of 45 days, ending in September.Jack-upsIn the jack-up rig sector, Ensco 115 has been awarded a 10-month contract with Mubadala Petroleum offshore Thailand that is expected to begin in first quarter 2019 until 4Q19. The contract includes one two-month option and three 4-month options.Fieldwood has extended a contract for the Ensco 87 jack-up rig in the U.S. Gulf of Mexico by four P&A wells with an estimated duration of 60 days in total. The contract is expected to end in September 2018.Ensco 87 has also been awarded a two-well contract with ExxonMobil in the U.S. Gulf of Mexico that is expected to start in September and end in November 2018. The deal also includes one 1-well option, one 6-well option and one 3-well options.Talos Energy has extended a contract in the U.S. Gulf of Mexico for the Ensco 75 jack-up by 90 days to December 2018.A contract for the Ensco 122 jack-up with NAM in the Dutch North Sea has been extended by one well with an estimated duration of 90 days.INEOS has extended a contract for the Ensco 121 rig  by one well with an estimated duration of 14 days. The rig is operating in the UK North Sea.Jack-up rig Ensco 140 started a three-year contract with Saudi Aramco offshore Saudi Arabia in July 2018. The rig is contracted until June 2021.Also in the status report, Ensco said that the semi-sub Ensco MS-1 completed a one-well contract with Woodside Energy offshore Australia during second quarter 2018. The semi-submersible rig is currently in Singapore available for work.Ensco 8505 semi-sub contract with Stone Energy in the U.S. Gulf of Mexico transferred to Talos Energy following its acquisition of Stone in May 2018.Finally, Ensco 6001 semi-submersible rig has been sold for scrap value and jack-up Ensco 80 has been cold stacked and classified as held for sale.Offshore Energy Today Stafflast_img read more

Inaugural Sander’s Mod Challenge Tour ready to rock Aug. 18-21

first_imgBy Mike SpiekerFARGO, N.D. – What was once a high-paying, one-night, mid-summer special is now a four-race, full-blown Modified tour.It’s the Sander’s Modified Challenge Tour and it’s set to rip through the Red River Valley of North Dakota and Minnesota in August, featuring the Xtreme Motor Sports IMCA Modifieds.The Sander’s Modified Challenge began in 2012 at Norman County Raceway in Ada, Minn. The first running of the event featured a $1,000 top prize and a total purse of just over $6,000.Since then, the event has continued to grow by leaps and bounds. The payout for the 2015 edition of the Sander’s Mod Challenge boasted an $18,700 purse, meaning last year’s sixth place finisher was able to take home a bigger check than the inaugural winner.With the larger payouts came record-breaking car counts. The first event fielded 18 cars while last year’s race attracted an impressive 44 drivers from six states and one Canadian province.2016 will be a completely different story, however. The Sander’s Mod Challenge is now a tour that will trek through four of the most prominent and historic dirt tracks in the Midwest.It all kicks off Thursday, Aug. 18 at Norman County Raceway for a $2,000 to win event. The following night, the tour will head 45 miles south to another 3/8-mile oval at the newly revived Red River Valley Speedway in West Fargo, N.D., for another $2,000 to win race.Saturday and Sunday, Aug. 20 and 21 will offer a pair of 1/4-mile tracks with the first being Jamestown, N.D., Speedway. Located 90 miles west of Fargo and 95 miles east of Bismarck, the largest car count of the weekend could be seen Saturday night for the $1,500-to-win event.The tour wraps up Sunday evening at Buffalo River Race Park in Glyndon, Minn. The semi-banked oval will play host to the championship event, where another $1,500 will be on the line.Every lap of the 2016 Sander’s Modified Challenge Tour will be broadcast live on IMCA.TV. All four features are Fast Shafts All-Star Invitational ballot qualifying events.Contingency awards include a nightly $100 Out-Pace Racing Products hard charger award, $100 Performance Auto of Fargo tough luck award, and a clean sweep bonus of $250 if a driver can win both his heat and feature.Sander’s Metal Products, Performance Auto, Out-Pace Racing Products and OctaneTrade.com put up the $37,000-plus total purse.For more information, log onto SandersModTour.com.last_img read more

Shantou flying at Galway

first_imgShantou Flyer made it third time lucky over fences in the Guinness Dublin Porter Beginners Chase at Galway. Willie Mullins and Ruby Walsh, who won the opening race on Monday, Tuesday and Wednesday, teamed up once more with 2-1 favourite As De Ferbet, but although he put up a bold effort from the front, he could not shake off Shantou Flyer, who won the argument by two and a quarter lengths. Bowe said: “His hurdles form was very good and he was only touched off in a Grade Two. “I was worried that he might be a bit novicey, but Davy was very good on him and today was the plan. We’ll look for a winners’ race next. “He has run some big races but that’s only his second win.” Colin Bowe’s charge had an encouraging start to his career over fences when runner-up at Limerick in May, but let down favourite backers when pulling up at Down Royal next time. Having bounced back with a decent effort to finish third over hurdles at Tipperary a week and a half ago, he was an 11-4 chance for the opener on day four of the Festival and was always moving well in the hands of Davy Russell. center_img Press Associationlast_img read more

CSA confirm two COVID-19 cases in national squad

first_imgCAPE TOWN (Reuters) – Cricket South Africa (CSA) on Thursday reported two positive COVID-19 tests among national team players who were due to participate in a squad camp taking place this week.CSA tested 50 players and officials prior to the camp, which began on Tuesday and runs to Saturday, and confirmed two positive cases among the group, without naming those infected.The camp is focused on team bonding and was arranged after CSA came under heavy criticism from some former players who claimed there was a culture of racism within the side.“There were no replacements made for the two players who tested positive. All those unable to attend the camp will join the proceedings virtually,” CSA said in a statement on Thursday.Another absentee is former captain Faf du Plessis, due to the imminent birth of his second child.Former captain Graeme Smith, now CSA Director of Cricket, has denied the accusations of racism and says he was unaware of any such incidents during his 11 years in charge of the side.South Africa have this year missed a mix of test and limited overs series against India, Sri Lanka and West Indies due to the COVID-19 pandemic. A number of their leading players are contracted to play in the Indian Premier League, which is due to start next month.last_img read more

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