Mes: agosto 2020

SHAREHOLDER ALERT: WeissLaw LLP Investigates Varian Medical Systems, Inc.

NEW YORK, Aug. 3, 2020 /PRNewswire/ —


SHAREHOLDER ALERT: WeissLaw LLP Investigates Varian Medical Systems, Inc.

NEW YORK, Aug. 3, 2020 /PRNewswire/ —

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Varian Medical Systems, Inc. («VAR» or the «Company») (NYSE: VAR) in connection with the proposed acquisition of the Company by Siemens Healthineers AG (Frankfurt: SHL).  Under the terms of the acquisition agreement, VAR shareholders will receive $177.50 in cash for each share of VAR common stock that they own.

If you own VAR shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/varian-medical-systems-inc/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw is investigating whether VAR’s board acted to maximize shareholder value in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the valuation of the deal will be fully and fairly disclosed to VAR shareholders.  

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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SOURCE WeissLaw LLP

SHAREHOLDER ALERT: WeissLaw LLP Investigates Jernigan Capital, Inc.

NEW YORK, Aug. 3, 2020 /PRNewswire/ —


SHAREHOLDER ALERT: WeissLaw LLP Investigates Jernigan Capital, Inc.

NEW YORK, Aug. 3, 2020 /PRNewswire/ —

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Jernigan Capital, Inc. («JCAP» or the «Company») (NYSE: JCAP) in connection with the proposed acquisition of the Company by NexPoint Advisors, L.P.  Under the terms of the acquisition agreement, holders of the Company’s common stock will receive $17.30 in cash for each share that they own, while holders of the Company’s Series B Preferred stock will receive $25.00 per share in cash plus all accrued dividends.

If you own JCAP shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/jernigan-capital-inc/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw is investigating whether JCAP’s board acted to maximize shareholder value in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the valuation of the deal will be fully and fairly disclosed to JCAP shareholders.  These issues are of particular concern given that Series B Preferred shareholders will receive nearly $7.00 more per share than common shareholders upon consummation of the proposed transaction.  Additionally, at least one analyst set a price target of $20.00 per JCAP share, or approximately $3.00 above the per-share merger price. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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SOURCE WeissLaw LLP

USW Seeks Intervention to Save Titanium Sponge Plant, Citing National Security, Defense Concerns

PITTSBURGH, Aug. 3, 2020 /PRNewswire/ — The United Steelworkers (USW) today urged Congress and the Trump administration to act immediately in the interest of saving TIMET’s titanium sponge plant in Henderson, Nev., from permanent closure.

PITTSBURGH, Aug. 3, 2020 /PRNewswire/ — The United Steelworkers (USW) today urged Congress and the Trump administration to act immediately in the interest of saving TIMET’s titanium sponge plant in Henderson, Nev., from permanent closure.

Last year, in a Section 232 investigation, the U.S. Department of Commerce concluded that without the Henderson facility, the country would be completely dependent on imports for titanium sponge and scrap and lack the surge capacity required to support defense and critical infrastructure needs in an extended national emergency.

TIMET announced on July 13 that it intended to idle the facility. The company has already begun ratcheting down operations and laying off workers. Another wave of 17 were laid off today.

«Americans already rely on foreign imports for too many necessities, such as surgical masks and other personal protective equipment,» said USW District 12 Director Gaylan Prescott, «and we cannot risk our national security by depending on other countries to supply titanium for our military airplanes, helicopters and aerospace equipment.»

Prescott said that if TIMET follows through on its plan to close Henderson, the U.S. would be forced to import sponge from the only six other countries with production capacity: China, Japan, Russia, Ukraine, Kazakhstan or India.

«With so much more than jobs at stake, the USW will not allow TIMET to deprive our nation of this critical resource without a fight,» Prescott said. «Before it’s too late, President Trump and congressional leaders from both parties must take action to prevent compromising our national defense.»

The USW represents 850,000 men and women employed in manufacturing, metals, mining, pulp and paper, rubber, chemicals, glass, auto supply and the energy-producing industries, along with a growing number of workers in public sector and service occupations.

More information, contact: Bill Locke, 702-271-0029 

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SOURCE United Steelworkers (USW)

INTC INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Intel Corporation

NEW YORK, Aug. 3, 2020 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Intel Corporation («Intel» or the «Company») (NASDAQ: INTC) between  April 23, 2020  and July 23, 2020, inclusive (the «Class Period»). The lawsuit filed in the United States…

NEW YORK, Aug. 3, 2020 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Intel Corporation («Intel» or the «Company») (NASDAQ: INTC) between  April 23, 2020  and July 23, 2020, inclusive (the «Class Period»). The lawsuit filed in the United States District Court for the Northern District of California alleges violations of the Securities Exchange Act of 1934.

If you purchased Intel securities, and/or would like to discuss your legal rights and options please visit Intel Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that Intel had identified a defect mode in its 7-nanometer process that resulted in yield degradation; (2) that, as a result, the Company would experience a six-month delay in its production schedule for 7-nanometer products; (3) that Intel was reasonably likely to rely on third-party foundries for manufacturing its 7-nanometer products; (4) that, as a result of the foregoing, Intel was reasonably likely to lose market share to its competitors who are already selling 7-nanometer products; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On July 23, 2020, after the market closed, Intel disclosed production delays for its 7-nanometer products after the Company had «identified a defect mode in our seven-nanometer process that resulted in yield degradation.»

On this news, the Company’s share price fell $9.81, or approximately 16% to close at $50.59 per share on July 24, 2020.

If you wish to serve as lead plaintiff, you must move the Court no later than September 28, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Intel securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/intelcorporation-intc-shareholder-class-action-lawsuit-stock-fraud-288/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s «Plaintiffs’ Hot List» thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com

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SOURCE Bernstein Liebhard LLP

RM LAW Announces Class Action Lawsuit Against Velocity Financial, Inc.

BERWYN, Pa., Aug. 3, 2020 /PRNewswire/ — RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Velocity Financial, Inc. («Velocity Financial» or the «Company») (NYSE: VEL) pursuant to the Company’s January 2020 initial…

BERWYN, Pa., Aug. 3, 2020 /PRNewswire/ — RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Velocity Financial, Inc. («Velocity Financial» or the «Company») (NYSE: VEL) pursuant to the Company’s January 2020 initial public offering («IPO»).

Velocity Financial shareholders may, no later than September 28, 2020, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Velocity Financial and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

According to the complaint, Velocity held its IPO on January 22, 2020, offering shares at $13.00 per share for gross proceeds of approximately $100.7 million. In its offering documents, Velocity touted it «ha[d] developed the highly-specialized skill set required to effectively compete in this market» and that this allowed Velocity to have «a durable business model capable of generating attractive risk-adjusted returns for [its] stockholders throughout various business cycles.» However, Velocity’s offering documents failed to disclose that many of Velocity’s loans were in non-accrual status and at least 90 days past due by the time of its IPO. Velocity’s true financial condition was revealed on May 13, 2020, when Velocity released its financial results for the first quarter of 2020, the same quarter as its IPO, revealing that its net income decreased 50% sequentially during the quarter to just $2.6 million and that its proportion of non-performing loans had accelerated to $174 million, nearly double the unpaid principal amount year-over-year. Velocity later revealed that by April 2020, non-performing loans accounted for 9.9% of the Company’s total portfolio, which was expected, but not disclosed in the offering materials. On this news, Velocity’s share price fell more than 80%, to close at just $2.53 per share on May 15, 2020.

If you are a member of the class, you may, no later than September 28, 2020, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as «lead plaintiff.»  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.

For more information regarding this, please contact RM LAW, P.C.  (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at rm@maniskas.com or click here.   For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here. 

 RM LAW, P.C. is a national shareholder litigation firm.  RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT:      

RM LAW, P.C.

Richard A. Maniskas, Esquire

1055 Westlakes Dr., Ste. 300

Berwyn, PA 19312

484-324-6800

844-291-9299

rm@maniskas.com

 

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SOURCE RM LAW, P.C.

VEL INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Velocity Financial, Inc.

NEW YORK, Aug. 3, 2020 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the common stock of Velocity Financial. («Velocity» or the «Company») (NYSE: VEL) issued in connection with Velocity’s January 2020 IPO (the «Offering Materials»).  The lawsuit filed in the United States District Court for the…

NEW YORK, Aug. 3, 2020 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the common stock of Velocity Financial. («Velocity» or the «Company») (NYSE: VEL) issued in connection with Velocity’s January 2020 IPO (the «Offering Materials»).  The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Act of 1933.

If you purchased Velocity securities, and/or would like to discuss your legal rights and options please visit Velocity Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

According to the lawsuit, the Registration Statement featured false and/or misleading statements and/or failed to disclose: (1) that a significantly higher proportion of its loan portfolio had become non-performing loans; and (2) any information regarding the onset of the coronavirus, including whether the coronavirus was adversely impacting the real estate market or the Company’s business, operations or financial condition.

On May 13, 2020 Velocity issued a release and investor presentation and held an earnings call providing the Company’s financial and operational results for the first quarter of 2020.  The Company stated that its net income decreased 50% sequentially during the quarter to just $2.6 million.  The Company also confirmed that the suspension of loan origination would continue for an indeterminate amount of time, effectively halting all potential growth in the Company’s loan portfolio.  In addition, the Company stated that its proportion of non-performing loans had accelerated to $174 million, nearly double the unpaid principal amount year over year, and constituted 8.17% of the Company’s total portfolio, 252 basis points over the prior year.  Velocity’s portfolio yield also fell 32 basis points sequentially to 8.57% due in substantial part to the rising number of non-performing loans.

If you wish to serve as lead plaintiff, you must move the Court no later than September 28, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Velocity securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/velocityfinancial-vel-shareholder-class-action-lawsuit-stock-fraud-287/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s «Plaintiffs’ Hot List» thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com

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SOURCE Bernstein Liebhard LLP

National Safety Council Announces Finalists for 2020 Green Cross for Safety Awards

ITASCA, Ill., Aug. 3, 2020 /PRNewswire/ — Today the National Safety Council announced the finalists for the 2020 Green Cross for Safety awards, given annually to individuals and organizations that have demonstrated leadership in keeping people safe from the workplace to anyplace. 

ITASCA, Ill., Aug. 3, 2020 /PRNewswire/ — Today the National Safety Council announced the finalists for the 2020 Green Cross for Safety awards, given annually to individuals and organizations that have demonstrated leadership in keeping people safe from the workplace to anyplace. 

«This year’s Green Cross for Safety award finalists represent the broad reach of exceptional safety practices – and are an example to others,» said Lorraine M. Martin, president and CEO of the National Safety Council. «The finalists show true dedication to keeping their employees and communities safe. We are excited to recognize their work at our virtual awards celebration in October.»

Finalists for the 2020 Green Cross for Safety awards are:

Safety Advocate, sponsored by FirstGroup – Recognizes those who have made a significant impact on safety by raising awareness and bringing about change

  • CPS Energy/Xcel Energy
  • National Center for Rural Road Safety
  • Save the Michaels of the World

Safety Excellence, sponsored by the Board of Certified Safety Professionals – Recognizes a corporation, coalition or organization that relentlessly pursued safety

  • Caesars Entertainment Corp.
  • La-Z-Boy Inc.
  • Walgreens

Safety Innovation, sponsored by UPS – Recognizes a researcher, corporation or organization that approached a long-held challenge and developed a transformative response to the problem

  • Driver Alcohol Detection System for Safety, Driven to Protect Virginia
  • The Dow Chemical Company
  • Illinois Tollway

Winners will be announced at the 2020 Green Cross for Safety awards celebration Oct. 1. This year’s event will take place virtually. To learn more, visit greencross.nsc.org.

About the National Safety Council
The National Safety Council is America’s leading nonprofit safety advocate – and has been for over 100 years. As a mission-based organization, we work to eliminate the leading causes of preventable death and injury, focusing our efforts on the workplace, roadway and impairment. We create a culture of safety to not only keep people safer at work, but also beyond the workplace so they can live their fullest lives.

Connect with NSC:
Facebook 
Twitter 
LinkedIn 
YouTube 
Instagram

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SOURCE National Safety Council

Global Semiconductor Sales Increase 5.1 Percent Year-to-Year in June; Q2 Sales Down Slightly Compared to Q1

WASHINGTON, Aug. 3, 2020 /PRNewswire/ — The Semiconductor Industry Association (SIA) today announced worldwide sales of semiconductors were $34.5 billion in June 2020, an increase of 5.1 percent from the June 2019 total of $32.9 billion. Sales in June were 0.3 percent less than the May 2020 total of $34.6 billion. Sales…

WASHINGTON, Aug. 3, 2020 /PRNewswire/ — The Semiconductor Industry Association (SIA) today announced worldwide sales of semiconductors were $34.5 billion in June 2020, an increase of 5.1 percent from the June 2019 total of $32.9 billion. Sales in June were 0.3 percent less than the May 2020 total of $34.6 billion. Sales during the second quarter of 2020 were $103.6 billion, an increase of 5.1 percent over the second quarter of 2019, but a small decrease of 0.9 percent compared to the first quarter of 2020. Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. SIA represents 95 percent of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.

«Second-quarter semiconductor sales were roughly flat compared to the first quarter, and the global industry continues to post year-to-year sales increases, but significant uncertainty remains for the second half of the year due to ongoing macroeconomic headwinds,» said John Neuffer, SIA president and CEO. «Sales into the Americas stood out in June, increasing nearly 30 percent year-to-year.»

Regionally, sales increased on a year-to-year basis in the Americas (29.0 percent), China (4.7 percent), and Asia Pacific/All Other (0.4 percent), but decreased in Japan (-2.2 percent) and Europe (-17.1 percent). On a month-to-month basis, sales increased slightly in the Americas (3.1 percent) and Japan (1.1 percent), but decreased in China (-0.4 percent), Asia Pacific/All Other (-1.5 percent), and Europe (-6.0 percent).

For comprehensive monthly semiconductor sales data and detailed WSTS forecasts, consider purchasing the WSTS Subscription Package. For detailed historical information about the global semiconductor industry and market, consider ordering the SIA Databook.

June 2020

Billions

Month-to-Month Sales                              

Market

Last Month

Current Month

% Change

Americas

7.38

7.60

3.1%

Europe

2.89

2.72

-6.0%

Japan

2.87

2.90

1.1%

China

12.32

12.28

-0.4%

Asia Pacific/All Other

9.17

9.04

-1.5%

Total

34.63

34.53

-0.3%

Year-to-Year Sales                         

Market

Last Year

Current Month

% Change

Americas

5.89

7.60

29.0%

Europe

3.27

2.72

-17.1%

Japan

2.97

2.90

-2.2%

China

11.73

12.28

4.7%

Asia Pacific/All Other

9.00

9.04

0.4%

Total

32.86

34.53

5.1%

Three-Month-Moving Average Sales

Market

Jan/Feb/Mar

Apr/May/Jun

% Change

Americas

7.37

7.60

3.1%

Europe

3.39

2.72

-19.9%

Japan

2.88

2.90

0.5%

China

11.52

12.28

6.6%

Asia Pacific/All Other

9.68

9.04

-6.7%

Total

34.85

34.53

-0.9%

Media Contact
Dan Rosso
Semiconductor Industry Association
202-446-1719
drosso@semiconductors.org

About SIA
The Semiconductor Industry Association (SIA) is the voice of the semiconductor industry, one of America’s top export industries and a key driver of America’s economic strength, national security, and global competitiveness. Semiconductors – the tiny chips that enable modern technologies – power incredible products and services that have transformed our lives and our economy. The semiconductor industry directly employs nearly a quarter of a million workers in the United States, and U.S. semiconductor company sales totaled $193 billion in 2019. SIA represents 95 percent of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, SIA seeks to strengthen leadership of semiconductor manufacturing, design, and research by working with Congress, the Administration, and key industry stakeholders around the world to encourage policies that fuel innovation, propel business, and drive international competition. Learn more at www.semiconductors.org.

About WSTS
World Semiconductor Trade Statistics (WSTS) is an independent non-profit organization representing the vast majority of the world semiconductor industry. The mission of WSTS is to be the respected source of semiconductor market data and forecasts. Founded in 1986, WSTS is the singular source for monthly industry shipment statistics.

 

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SOURCE Semiconductor Industry Association (SIA)

Coronavirus (COVID-19) Update: Daily Roundup

SILVER SPRING, Md., Aug. 3, 2020 /PRNewswire/ — The U.S. Food and Drug Administration (FDA) today continued to take action in the ongoing response to the COVID-19 pandemic:

  • The FDA issued emergency use authorizations (EUAs) to Siemens for its ADVIA Centaur…

SILVER SPRING, Md., Aug. 3, 2020 /PRNewswire/ — The U.S. Food and Drug Administration (FDA) today continued to take action in the ongoing response to the COVID-19 pandemic:

Additional Resources:

Media Contact: Lee.Herring@fda.hhs.gov
Consumer Inquiries: 888-INFO-FDA

The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products.

U.S. Food and Drug Administration (FDA) logo (PRNewsfoto/FDA)

 

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SOURCE U.S. Food and Drug Administration

Pastor Donte Hickman of the Southern Baptist Church and Senator Chris VanHollen (D-MD) collaborated on the Neighborhood Economic Development and Opportunity Act That Was Introduced Today

BALTIMORE, Aug. 3, 2020 /PRNewswire/ — For nearly 20 years I have led the Southern Baptist Church and our Mary Harvin Transformation Center Community Development Corporation in East Baltimore with a divinely inspired vision to transform our church and community into the Kingdom of God, where people can find decent and affordable housing, be educated, work, and live, while worshiping God safely with their families. 

For the last three years we took our…

BALTIMORE, Aug. 3, 2020 /PRNewswire/ — For nearly 20 years I have led the Southern Baptist Church and our Mary Harvin Transformation Center Community Development Corporation in East Baltimore with a divinely inspired vision to transform our church and community into the Kingdom of God, where people can find decent and affordable housing, be educated, work, and live, while worshiping God safely with their families. 

For the last three years we took our plans and pleas to make churches the hub of the solution for the forgotten neighborhoods of East Baltimore to all corners of Washington, D.C.  While everyone took the time to listen, Senator Van Hollen (D-MD) got to work and acted,» Hickman said. «Our fantastic senator introduced the bill that we suggested to advance our effort to make churches and nonprofits the delivery points for rebuilding neighborhoods nationwide.»  

«The church, as a community stakeholder and trusted partner, has the responsibility to evolve our outreach and evangelism.  We have always tried to restore the heart and soul of people through worship,» Hickman noted.

«We also have a second responsibility in neighborhoods where we worship that have experienced decades of neglect.  Our responsibility is to rebuild properties, and streets, and parks in those neighborhoods so that people have a decent place to live, work, and worship near their church,» Hickman explained. 

Combining those ingredients and integrating them is the missing link to solving the problems that we see today.  To that end, Hickman has partnered with the community and neighboring churches to develop the East Baltimore Revitalization Plan, a grassroots Master Plan that was adopted by the City of Baltimore’s Planning Department.

Hickman’s program now includes other churches and faith based organizations in each of the quadrants of Baltimore City to expedite change.  While the Southern Baptist Church had some success with building affordable housing and making huge property and land acquisitions, there is always a funding gap in the most neglected neighborhoods where we pastor.   

«We are hopeful that his bill that we suggested to authorize and fund the financial gap and deliver the solutions through plans developed by churches, faith-based groups, and non-profits will be quickly acted on and included in the COVID recovery legislation,» Hickman explained. 

If so, faith based institutions can integrate their work to restore people and rebuild neighborhoods and places to live and enjoy life around churches as an anchor. «We can do this for God’s glory when this bill passes, because we will be able to fill the funding gaps. This is what I’ve been advocating and fighting for with the Trump Administration and Democrats and Republicans in Congress,» Pastor Hickman concluded.

Pastor Hickman was raised in Edmondson Village, an inner city community in West Baltimore and now pastoring in Broadway East, an inner city community in East Baltimore. He knows that there is no dearth of talent, energy, giftedness, intellect and initiative in the urban communities. But what Baltimore and other cities need besides fairer opportunities are a removal of the overwhelming obstacles, barriers and distractions that make it all but impossible but for a few exceptions to pursue and accomplish dreams, become gainfully employed, build families, strengthen communities, and make America better for all. 

The health and economic disparities in urban communities has suppressed both the monetary and moral values so severely that these distressed areas are impossible to be revitalized without the right public spending and gap financing that bolsters and compliments private investment and federal tax credit programs such as Opportunity Zone Tax Credits.

«With this bill the faith based communities and non-profit partners that have local plans for their neighborhoods can lead, collaborate, and help to successfully transform our communities neighborhood by neighborhood.  We can rid the blight, poverty, illness and violence that has plagued the forgotten and misunderstood citizens of not only East Baltimore, but all of our inner city communities across America,»  Hickman explains as his vision.  

«In Baltimore and cities across our nation, we know our local non-profits and faith-based neighborhood organizations serve as the heartbeat of their surrounding communities, bringing people together and helping those in need. These organizations are uniquely positioned to understand the economic hardships facing residents of our cities – and how best to address them – but are often overlooked in the federal grant process. This legislation opens the door for new partnerships and taps into the local expertise of these organizations in our work to strengthen urban areas and improve economic development initiatives. I’m proud to introduce this bill – and to have worked with partners in Baltimore on this concept, and I will be pushing for Senate consideration of this important measure,» said Senator Van Hollen. 

«The church, as a community stakeholder and trusted partner, has a responsibility to rebuild properties, streets, and parks in our neighborhoods so that people have a decent place to live, work, and worship near their church. For the last three years we took our plans and pleas to make churches the hub of the solution for the forgotten neighborhoods of East Baltimore to all corners of Washington, D.C. While everyone took the time to listen, Senator Van Hollen got to work and acted. We are hopeful that his bill will be quickly acted on and included in the COVID recovery legislation. If so, faith based institutions can integrate their work to restore people and rebuild neighborhoods and places to live and enjoy life around churches as an anchor,» said Pastor Donte Hickman of the Southern Baptist Church.

Media Contact:
Pastor Donte Hickman
Pastorhickman@southernbaptistchurch.org
443-248-3862

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SOURCE Southern Baptist Church