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FACT FOCUS: Claims blame ‘woke’ policies on bank’s demise

Published Tue, 05 Nov 2024 06:45:34 GMT

As Wall Street reels from the swift demise of Silicon Valley Bank — the biggest American bank failure since the 2008 financial meltdown — some social media users are honing in on a single culprit: its socially aware, or “woke,” agenda. But the Santa Clara-based institution’s professed commitment to diversity, equity and inclusion, or DEI, wasn’t a driver of the bank’s collapse, say banking and financial experts. Its poor investment strategies and a customer base prone to make devastating bank runs were.Here’s a closer look at the facts.CLAIM: Silicon Valley Bank failed because it focused on “woke” policies such as diversity, equity and inclusion.THE FACTS: The nation’s 16th largest bank collapsed because of poor investment and risk strategies that left the bank with insufficient cash to weather a mass withdrawal of assets from its largely tech sector customers, who have been particularly hard hit in the current economy, financial and banking experts explain. There’s also no ev...

Hexo reports net loss of $11.1 million in second quarter, lower revenues

Published Tue, 05 Nov 2024 06:45:34 GMT

GATINEAU, Que. — Hexo Corp. reported a net loss of $11.1 million in its latest quarter, up from a year earlier, when it reported a loss of $690.3 million, which included $616 million in one-time impairment charges.The Gatineau, Que.-based cannabis company’s net revenues for the second quarter of the company’s financial year were $24.2 million, down 54 per cent from a year earlier and down 32 per cent from the previous quarter. Hexo attributed the year-over-year lower net revenues to decreased market share and performance in Ontario, Alberta and Quebec. It attributed the decline in net revenues from the previous quarter to a variety of factors including Quebec competitors cutting prices and some products being placed on hold because of pricing reductions in Ontario.President and CEO Charlie Bowman said while cannabis prices have dropped sharply across the market, it’s Hexo’s view that slashing prices isn’t a sustainable strategy. Chief financial officer ...

How a life-altering illness led a teen to wheelchair basketball stardom

Published Tue, 05 Nov 2024 06:45:34 GMT

Ibrahim Odza may only be 13-years-old, but he has left quite the mark on the wheelchair basketball scene. You can find him most days shooting hoops at Variety Village. His passion for basketball started a few years ago. Before that, his choice of sport was soccer. The pivot from soccer to basketball happened at the beginning of the pandemic when Ibrahim was visiting family in Macedonia. A year before that he was diagnosed with a cavernoma on his spine, a benign tumour.“We decided to take a trip to Europe for six months and then our trip got extended for over a year because we were stranded,” says Lindita Odza, Ibrahim’s mother. “Our flights were booked for March 13 to come back and see a follow up appointment, but COVID happened so we were stranded in Macedonia for a couple of extra months.” In September of 2020, while there, Ibrahim started having back pain and lost the ability to walk. An MRI revealed the cavernoma ruptured and Ibrahim underwent surgery in Macedonia...

Guards union says second pigeon with a backpack found in B.C. prison

Published Tue, 05 Nov 2024 06:45:34 GMT

VANCOUVER — A pigeon wearing a tiny empty backpack has been captured inside a federal prison in British Columbia, in what a union official says was likely another plan by inmates to smuggle drugs. The discovery at the Matsqui prison in the Fraser Valley comes just a few months after another pigeon was captured carrying a bird-size backpack full of crystal methamphetamine at the Pacific Institution right next door. John Randle, the Pacific regional president at the Union of Canadian Correctional Officers, says the latest pigeon’s pack was made of blue jeans and bedsheets, materials easily available to inmates. He says the pigeon was found inside the jail on Feb. 27, while the first bird was caught on the prison grounds. Randle says there’s an elementary school close by and pigeons smuggling drugs are a real concern, especially if it lands at the wrong place.After the backpack was removed, the bird was released, and police in Abbotsford say they’re investigating the ...

Shedd Aquarium fears millions in lost revenue with NASCAR's arrival

Published Tue, 05 Nov 2024 06:45:34 GMT

CHICAGO — Leaders at Chicago's Shedd Aquarium fear it could lose several millions of dollars this summer due to NASCAR holding a race in Grant Park. In less than four months, NASCAR’s big street race is coming to downtown Chicago. The two-day event will run July 1-2, but preparation for the race will start nearly a month earlier. NASCAR's arrival this summer has promoted unease among some Shedd Aquarium officials who worry about lost revenue amid one of the museum's busiest times."We’re on a peninsula and the access is constrained. I know that on a busy weekend, it’s already tough and adding an event like this, with this many road closures, is going to have an impact," said Meghan Curran, chief marketing and experience officer for the Shedd Aquarium. NASCAR unveils names, logos for Chicago Street Race Shedd officials say during the July 4 weekend, they see at least 10,000 guests per day, generating $2-3 million in revenue. Officials also expect a summer camp that runs the week of ...

Illinois eliminated in the first round of the NCAA Tournament by Arkansas

Published Tue, 05 Nov 2024 06:45:34 GMT

DES MOINES - In many ways, it was a game that encompassed an entire season of basketball for one of the teams that took the floor at Wells Fargo Arena. Unfortunately for Illinois, it led to a quick elimination from the NCAA Tournament. Inconsistent throughout and unable to get sustained momentum, the ninth-seeded Illini trailed almost the whole way in their West Region first round game against Arkansas in Des Moines. Despite a few late pushes, Illinois was eliminated by the Razorbacks 73-63. Brad Underwood's team finished the season 20-13 having made the NCAA Tournament for a third-straight year but once again failing to have a sustained run in the "Big Dance." The Illini haven't made an appearance in the Sweet 16 since 2005.Arkansas led by ten points at the half as the Illini shot just 27.6 percent from the floor as they were out of rhythm on that end of the court. They'd try a few times to rally in the second half and even got the Arkansas lead down to five with 2:30 left on a dun...

HHS announces more funding for low-income Americans for heating, cooling bills

Published Tue, 05 Nov 2024 06:45:34 GMT

WASHINGTON (NEXSTAR) -- More assistance is on the way for low-income Americans who need help with their heating and cooling bills."It allows our families to have a bit of breathing room," Office of Community Service Director Dr. Lanikque Howard said.Dr. Howard says more than $500 million are being made available to cover the low-income home energy assistance program known as LIHEAP."LIHEAP makes home energy more affordable for those individuals who may be struggling to make ends meet," Dr. Howard said.The funds are in addition to the one billion awarded last month to help with crisis assistance and weatherization services, to make these homes energy efficient."To bring down those bills, but to reduce our energy consumption as well," Dr. Howard said.Dr. Howard says the money can also be used by communities to better prepare for unexpected weather events, like noreasters and heat waves."To really support households who might be in need after these kinds of natural disasters," Dr. Howa...

How your freshly gardened plants will fair in the upcoming weather

Published Tue, 05 Nov 2024 06:45:34 GMT

AUSTIN (KXAN)  –  Austinites and others in Central Texans will wake up to some pretty cold temperatures Friday morning—some potentially even seeing snow flurries.The low temperatures sweeping into Central Texas this St. Patricks Day morning are a little later in the season than we might usually see, according to KXAN meteorologists.  MORE: Accumulating snow possible Saturday morning in the Hill Country If you recently filled your garden with fresh flora, you may be feeling a little concerned about this aberrant weather. KXAN talked to Senior Horticulturist Julie Marcus from the Wildflower Center about what folks can do and expect.  “I would take a little extra care of plants that have just been put in the ground,” Marcus said. “Even if they are native plants,” Marcus said.“Definitely make sure they have a good layer of mulch… or if somebody has a light sheet they want to put over some of those new plantings and if they are still in containers, I would probably bring them...

4 things we learned from the Chicago Bears, including how tradition helped lure in linebacker Tremaine Edmunds

Published Tue, 05 Nov 2024 06:45:34 GMT

The Chicago Bears formally introduced five of their free agent signings Thursday at Halas Hall. General manager Ryan Poles also spoke with reporters for the first time since trading the No. 1 pick in next month’s draft. Poles again emphasized the Bears won’t be able to fix everything this offseason while also expressing his excitement for adding receiver DJ Moore as a weapon for Justin Fields.There was plenty of ground to cover as a busy two-month stretch of roster restocking continues for the Bears. Here are four things we learned.1. The Bears have grand visions for new linebacker Tremaine Edmunds.Edmunds agreed to a four-year, $72 million deal with $50 million guaranteed and will be pushed to produce at a high level in Matt Eberflus’ system. Poles praised Edmunds for his speed, length and ability in coverage and believes he will be a galvanizing leader within the culture the Bears are trying to build.“He’s special,” Poles said.After the Bears tr...

St. Paul man gets 15 years in federal prison for illegally possessing a pistol at Union Depot

Published Tue, 05 Nov 2024 06:45:34 GMT

A St. Paul man was sentenced this week to 15 years in federal prison for being a felon in possession of a firearm.According to court documents, Geraldo Jay Dilworth, 35, was waiting to board a train at the Union Depot in St. Paul on March 17, 2022, when officers learned he was a suspect in a crime. Officers found a Springfield Armory .45-caliber pistol in his fanny pack during his arrest at the train station.Dilworth pleaded guilty to the charge in November and was sentenced Tuesday by U.S. District Court Judge Susan Richard Nelson.Because Dilworth has multiple prior felony convictions in Ramsey and Washington counties, including domestic assault and terroristic threats, he is prohibited under federal law from possessing firearms or ammunition.Related ArticlesCrime & Public Safety | Two men charged in killing of Hugo man outside Fridley Cub Foods Crime & Public Safety | Pregnant woman hospitalized after St. Paul shooting has died Crime & P...