Categoría: Geovanny Vicente

Port Aransas Conservancy Wins Contested Case Hearing

PORT ARANSAS, Texas, Feb. 5, 2021 /PRNewswire/ — On both environmental and economic grounds the Port Aransas Conservancy (PAC) has been contesting the industrialization of Harbor Island, within the city limits of Port Aransas. After receiving hundreds of complaints about the Port of Corpus Christi Authority’s (PCCA) plans for a desalination plant there, the Texas Commission on Environmental Quality (TCEQ) referred the matter to the…

PORT ARANSAS, Texas, Feb. 5, 2021 /PRNewswire/ — On both environmental and economic grounds the Port Aransas Conservancy (PAC) has been contesting the industrialization of Harbor Island, within the city limits of Port Aransas. After receiving hundreds of complaints about the Port of Corpus Christi Authority’s (PCCA) plans for a desalination plant there, the Texas Commission on Environmental Quality (TCEQ) referred the matter to the State Office of Administrative Hearings (SOAH) for a contested case hearing before two administrative law judges (ALJ). The judges recommended to TCEQ that they deny PCCA’s discharge permit application.

Among other favorable rulings, the ALJ concluded, «After considering the evidence and argument the Port Authority has not met its burden to prove that the proposed discharge will not adversely impact the marine environment, aquatic life, and wildlife, including spawning eggs and larval migration.»

PAC President James King was understandably upbeat. «The contested case ruling today by two administrative law judges recommending the denial of the TCEQ Discharge Permit is a huge victory for the city of Port Aransas, our coastal ecosystem, and the folks who love this part of Texas. This victory was made possible by our excellent team of attorneys and by the overwhelming support of many donors, citizens, and our strong local science community. The Port Aransas Conservancy is pushing back on the Port of Corpus Christi on its plan to industrialize our backyard and PAC is fully engaged in opposing that folly.»

About the Port Aransas Conservancy

The Port Aransas Conservancy is a 501(c)(4) environmental advocacy non-profit whose goal is to foster a balance of conservation and economically sustainable uses for Port Aransas and its surrounding neighborhood and waterways while recognizing that our community and economy is dependent on tourism and fisheries within a healthy barrier island coastal ecosystem.

Media Contact:
John Donovan
512-673-9585
290957@email4pr.com

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SOURCE Port Aransas Conservancy

Vladimir Potanin: We Learned Our Lesson and Remain Committed to Industrial and Environmental Safety

MOSCOW, Feb. 5, 2021 /PRNewswire/ — Today’s Arbitrazh Court of the Krasnoyarsk region decision to collect 146.2 billion rubles ($1.9bln) from Norilsk Nickel in damages for the fuel spill at TPP-3 in Norilsk is a lesson not only for our company, but also a signal for the entire business community, said Vladimir Potanin, the head of the mining giant Norilsk Nickel appearing live on a national TV newscast on Friday. «We learned this lesson…

MOSCOW, Feb. 5, 2021 /PRNewswire/ — Today’s Arbitrazh Court of the Krasnoyarsk region decision to collect 146.2 billion rubles ($1.9bln) from Norilsk Nickel in damages for the fuel spill at TPP-3 in Norilsk is a lesson not only for our company, but also a signal for the entire business community, said Vladimir Potanin, the head of the mining giant Norilsk Nickel appearing live on a national TV newscast on Friday. «We learned this lesson well. We are carrying out the instructions of the President to eliminate the consequences of the accident and to restore the ecosystem.» – he said.

Potanin added that today’s decision indicates the seriousness with which the state treats environmental issues. «We will be treating the issues of ecology and industrial safety with even greater seriousness from now on.» – Mr. Potanin asserted. In his address he also announced a $4.6bln commitment to strengthening industrial safety and environmental programs at Nornickel – the largest financial allocation of this kind. It exceeds the damages fine of $1.9bln over two times, a figure questioned by independent experts and the Company itself. Nornickel launched a wide-scale environmental rescue effort from the first hours after the accident and created a financial allocation to cover the official damages bill announced earlier.  

The Arbitrazh Court of the Krasnoyarsk region has concluded its proceedings in consideration of the claim by the Russian Federal Service for Supervision of Natural Resources («Rosprirodnadzor») for 148 billion rubles ($1.9bln) against NTEK, Nornickel subsidiary, seeking compensation of damages caused to the environment as a result of the diesel fuel spill accident on 29 May 2020. In its final hearing today, the Court decided to award the damages claimed by Rosprirodnadzor in the amount of RUB 146.2bln (USD 1.9bln). The cause of the spill was one of the fuel tanks rupture and collapse due to subsidence of the storage supports. 

About 

MMC Norilsk Nickel is a diversified mining and metallurgic company, the world‘s largest producer of palladium, high-grade nickel and a major producer of platinum and copper; it also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint Petersburg Stock Exchanges; ADRs are traded over the counter in the U.S. and on the London, Berlin and Frankfurt Stock Exchanges.

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SOURCE MMC Norilsk Nickel

AANA, Rural Health Action Alliance Call on Congressional Leaders to Take Action to Improve Healthcare Access in Rural America

PARK RIDGE, Ill., Feb. 5, 2021 /PRNewswire/ — (AANA) — As rural America continues to struggle with the impact of the COVID-19 pandemic, the American Association of Nurse Anesthetists (AANA) joined 15 other healthcare organizations urging Congress to bring equitable access to care in rural America and bridge the rural divide.

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PARK RIDGE, Ill., Feb. 5, 2021 /PRNewswire/ — (AANA) — As rural America continues to struggle with the impact of the COVID-19 pandemic, the American Association of Nurse Anesthetists (AANA) joined 15 other healthcare organizations urging Congress to bring equitable access to care in rural America and bridge the rural divide.

Members of the Rural Health Action Alliance (RHAA), a coalition of healthcare providers and facilities who provide high-quality, evidence-based care to millions of Americans, recently sent a letter to House Speaker Rep. Nancy Pelosi, Minority Leader Rep. Kevin McCarthy, and Senate Leaders Sen. Mitch McConnell and Sen. Chuck Schumer outlining policies that would improve rural health outcomes during the pandemic and beyond.

Members of the RHAA noted that even with declines in new cases of COVID-19 during the past few weeks, the death rate in rural America continues at record levels. It has also become clear that rural America faces an uphill battle on vaccine deployment compared to urban areas. To help curb the devastation caused by COVID-19 and help deploy the vaccine to all corners of the United States, members of RHAA are calling on Congress to build upon the December appropriations and COVID-19 relief package to pass more needed relief for rural providers.

«Certified Registered Nurse Anesthetists (CRNAs) are the primary providers of anesthesia care in rural settings and have been instrumental in delivering care during this public health crisis,» said AANA President Steven M. Sertich, CRNA, MAE, JD, Esquire. «The pandemic has illustrated the disparities that exist in our healthcare system, and it is vital that relief packages and healthcare delivery policies address the unique challenges facing rural healthcare providers, both in the delivery of care and in provider reimbursement.»

In the past decade, 120 rural health facilities have closed. With nearly 1 out of 5 Americans living in rural communities, access to healthcare can be a daily struggle that impacts preventative and emergency care. For healthcare to remain a viable industry in rural areas, RHAA is asking Congress to permanently remove unnecessary regulations that were waived during the pandemic, including physician supervision requirements for CRNAs, and keep in place flexibilities to telehealth.

«Providing quality care to patients where they live, without long car rides, helps keep communities healthy. CRNAs can play an important role in providing this life-saving care management,» said President Sertich. 

During the COVID-19 pandemic, nurse anesthetists across the country have  been essential in addressing the deadliest part of the disease in addition to providing top-of-the-line anesthesia care. They have served as experts in airway management, hemodynamic monitoring, management of patients on ventilators, and overall management of critically ill patients.  

RHAA is committed to continuing to collaborate to support rural health and healthcare.  The AANA joined the National Rural Health Association, American Podiatric Medical Association, American Nurses Association, American Psychological Association, National Association of Rural Health Clinics, American Optometric Association, National Organization of State Offices of Rural Health, National Association of Pediatric Nurse Practitioners, National League for Nursing, American College of Nurse-Midwives, American Association of Nurse Practitioners, and American Physical Therapy Association.

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SOURCE American Association of Nurse Anesthetists

PriceSmart Announces Election of New Directors; Voting Results from 2021 Annual Meeting of Stockholders and Declaration of Semi-Annual Dividend

SAN DIEGO, Feb. 5, 2021 /PRNewswire/ — PriceSmart, Inc. (NASDAQ: PSMT) today announced the election of two new members to the Board of Directors and other results from the Company’s 2021 annual meeting of stockholders held on February 4, 2021.

SAN DIEGO, Feb. 5, 2021 /PRNewswire/ — PriceSmart, Inc. (NASDAQ: PSMT) today announced the election of two new members to the Board of Directors and other results from the Company’s 2021 annual meeting of stockholders held on February 4, 2021.

Joining PriceSmart’s Board of Directors are the following individuals:

Patricia Márquez has served as Dean of the Joan B. Kroc School of Peace Studies at the University of San Diego since 2014, and in July 2020 she started her dual role as Associate Provost for Academic Planning and Innovation and Dean of the Joan B. Kroc School of Peace Studies. Her research has focused on the intersection of business and social value creation, with an emphasis on poverty alleviation through market mechanisms. Prior to joining USD, Dr. Márquez was a professor and dean at IESA, a School of Business in Caracas, Venezuela from 2003 to 2005.

David Snyder has served as a senior counsel at Pillsbury Winthrop Shaw Pittman, LLP since 2018 and previously served as a partner from 1993 until 2017 in the firm’s Corporate and Securities practice. During 25 years as a partner, Mr. Snyder also served as Pillsbury’s executive vice-chair for two years and on the firm’s managing board for 15 years. Mr. Snyder has been a practicing attorney for over 40 years, focusing on corporate finance and has significant experience representing and advising public companies and their boards.

«We are pleased to welcome two new directors who have experience that will especially strengthen our board in the area of environmental and social responsibility and on governance matters,» said PriceSmart CEO Sherry Bahrambeygui. «We look forward to Dr. Márquez’s participation as a recognized expert in environmental and social responsibility matters. She will serve as the Chair of the new Environmental and Social Responsibility Committee of our Board of Directors. Dr. Márquez has dedicated her career to driving innovation for achieving prosperity, peace, justice, and social change. We also welcome Mr. Snyder, who has over 40 years of legal experience representing and advising public companies and their boards on governance and compliance matters in addition to broad experience in executive management.»

At yesterday’s annual meeting of stockholders, ten nominees were elected to the PriceSmart, Inc. Board of Directors, including Dr. Márquez and Mr. Snyder.  Each director elected will continue to hold office until the next annual meeting of stockholders of PriceSmart, or until the director resigns or a successor is elected or appointed.  In addition to Dr. Marquez and Mr. Snyder, the following directors were elected yesterday: Sherry S. Bahrambeygui, Jeffrey Fisher, Gordon H. Hanson, Beatriz V. Infante, Leon C. Janks, Mitchell G. Lynn, Robert E. Price and Edgar Zurcher.

Stockholders also approved, on an advisory basis, the compensation of the Company’s executive officers for fiscal year 2020, approved an amendment to the Company’s 2013 Equity Incentive Award Plan and ratified the selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending August 31, 2021. A final report on voting results will be filed with U.S. Securities and Exchange Commission within four business days following the date of the annual meeting of stockholders. 

On February 4, 2021, the Company’s Board of Directors declared an annual cash dividend in the total amount of $0.70 per share, with $0.35 per share payable on February 26, 2021 to stockholders of record as of February 15, 2021 and $0.35 per share payable on August 31, 2021 to stockholders of record as of August 15, 2021. Future dividends and the establishment of record and payment dates is subject to determination by the Board of Directors in its discretion, after its review of the Company’s financial performance and anticipated capital requirements, taking into account the uncertainty surrounding the ongoing effects of the COVID-19 pandemic on our results of operations and cash flows.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 47 warehouse clubs in 12 countries and one U.S. territory (eight in Costa Rica and Colombia; seven in Panama; five in the Dominican Republic, four in Trinidad and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). The Company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in the spring of 2022. Once these three new clubs are open, the Company will operate 50 warehouse clubs. 

This press release may contain forward-looking statements concerning the Company’s anticipated future revenues and earnings, adequacy of future cash flows, omni-channel initiatives, proposed warehouse club openings, the Company’s performance relative to competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, but are not limited to, statements containing the words «expect,» «believe,» «will,» «may,» «should,» «project,» «estimate,» «anticipated,» «scheduled,» and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: adverse changes in economic conditions in the Company’s markets, natural disasters, compliance risks, volatility in currency exchange rates, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of member or business information, cost increases from product and service providers, interruption of supply chains, COVID-19 related factors and challenges, including among others, the duration of the pandemic, the unknown long-term economic impact, the impact of government policies and restrictions that have limited access for our Members, and shifts in demand away from discretionary or higher priced products to lower priced products, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company’s most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law.

For further information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to ir@pricesmart.com.

 

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SOURCE PriceSmart, Inc.

COVID Accelerates Digital Disruption and Innovative Business Models in the Insurance Sector

LOS ANGELES, Feb. 5, 2021 /PRNewswire-PRWeb/ — Changing risk landscapes and worsening loss ratios are shifting the role of insurance companies from risk mitigation to risk prevention. Additionally, the pandemic has put new pressures on business models. Newer risks, evolving customer expectations, and increased competition combined with business continuity challenges have made digital transformation a top priority for insurance carriers. Insurance companies are significantly investing in building…

LOS ANGELES, Feb. 5, 2021 /PRNewswire-PRWeb/ — Changing risk landscapes and worsening loss ratios are shifting the role of insurance companies from risk mitigation to risk prevention. Additionally, the pandemic has put new pressures on business models. Newer risks, evolving customer expectations, and increased competition combined with business continuity challenges have made digital transformation a top priority for insurance carriers. Insurance companies are significantly investing in building digital capabilities to optimize core operations, create nontraditional products, and enhance and personalize the customer experience.

These emerging trends are covered in Avasant’s new Insurance Digital Services 2021-2022 RadarView™ report. The report is a comprehensive study of digital service providers in the insurance space, including top trends, analysis, recommendations, and a close look at the leaders, innovators, disruptors, and challengers in this market.

Avasant evaluated 29 providers using three dimensions: practice maturity, investments and innovation, and partner ecosystem. Of those 29 providers, we identified 21 that brought the most value to the market during the past 12 months.

The report recognizes service providers in four categories:

  • Leaders: Accenture, Capgemini, Cognizant, IBM, TCS, and Wipro
  • Innovators: DXC, HCL, Infosys, NTT DATA, and Tech Mahindra
  • Disruptors: Atos, Coforge, EXL, Genpact, and LTI
  • Challengers: CGI, Mindtree, Mphasis, Virtusa, and WNS

Anupam Govil, a partner and the head of insurance practice with Avasant, congratulated the winners noting, «The pandemic has exacerbated vulnerabilities in traditional insurance business models. Customers expect more personalized solutions that align with their lifestyle and budget. Carriers need to leverage behavioral economics and collaborative ecosystems to compete in the post-COVID economy.»

Some of the findings from the full report include the following:

Property and casualty (P&C) insurance companies should:

1.    Leverage behavioral economics, IoT, and telematics to develop personalized insurance plans and proactively mitigate risks.

  • Use behavior incentivization through telematics and real-time monitoring technologies to offer more flexible and usage-based insurance (UBI) products, especially for auto coverage.
  • Create offerings that enable early warning alerts and preventive maintenance due to the industry seeing a gradual shift from risk management to risk prevention. With the expansion of smart home technology and digital touchpoints, insurers need to develop more customized offerings tailored to a customer’s lifestyle and habits.

2.    Modernize existing channels, and explore alternate channels for distribution and engagement.

  • Acquire new digital capabilities to enable direct customer engagement for P&C insurers heavily dependent on intermediaries. Enable, simultaneously, a more personalized interface with agents and brokers to retain loyalty and maintain a balanced strategy. Redesign distribution methods to enable effective digital sales driven by a personalized agent-customer virtual interaction. Build highly-engaged communities that unite people around shared interests and purpose and foster higher brand loyalty.

Life and annuity (L&A) companies should:

1.    Leverage wearables and analytics to manage policyholders’ health, and provide personalized value-added services.

  • Monitor policyholders’ health and lifestyle by using IoT devices, such as wearables, sensors, and connected medical equipment. Incentivize healthy habits through premium discounts and rewards.
  • Prevent or mitigate adverse incidents by predicting risk for disease, mortality, and health status of customers through predictive analytics.

2.    Reimagine business by accessing and integrating insurtech capabilities and harnessing the power of big data.

  • Increase the pace of innovation and strengthen existing capabilities by investing in insurtechs focused on three key domains: health monitoring, customer experience, and behavioral/social media analytics.
  • Harness the potential of big data from sources such as internet search histories, social media, criminal records and GPS-enabled devices for personalized advertising and promotions, cross-/up-selling, lapsation/attrition control, and fraud prevention.

Reinsurance companies should:

1.    Accelerate transition from human-led to AI-led risk modelling and premiums determination.

  • Scale-up AI adoption for determining optimal pricing policies by performing real-time risk assessments and improving predictions of client damages.
  • Develop AI-powered risk modeling techniques in-house or partner with specialized companies like Risk Management Solutions (RMS) or AIR Worldwide (AIR) to ascertain optimal risk premiums.

2.    Expand reinsurance offerings in emerging risk areas to gain early mover advantage and address nontraditional competition

  • Develop and enhance reinsurance product offerings to cover emerging risk areas like cybersecurity, autonomous vehicles, and smart manufacturing (using 3D printing).
  • Invest in or partner with start-ups to leverage niche domain expertise in priority areas such as developing cyber-risk models and integrating risk management solutions for auto manufacturers.

«One of the biggest challenges for insurers today is leveraging technology to build and improve their businesses while enhancing the customer experience,» said Avasant’s Lead Analyst, Amrita Keswani. «It has become important for insurance companies to have a reliable partner.»

The full report also features detailed RadarView profiles of the 21 service providers, along with their solutions, offerings, and experience in assisting insurance carriers in digital transformation.

This Research Byte is a brief overview of the Insurance Digital Services 2020-2021 RadarView™ report

Media Contact

Swapnil Bhatnagar, Avasant, +1 310 643 3030, contactus@avasant.com

 

SOURCE Avasant

State Lawmakers, Racial Justice Advocacy Groups Demand Solutions to Deep Disparities in COVID-19 Death, Wealth and Connectivity for Seniors in Illinois

WHO:

AARP Illinois, the Chicago Urban League, The Resurrection Project,  Asian Americans Advancing Justice Chicago , Rep. Theresa Mah, Sen. Jacqueline Collins, Sen. Robert Peters come together for first-of-its-kind statewide initiative.

WHEN:

Monday, Feb. 8, 10 a.m.

WHAT:…

WHO:

AARP Illinois, the Chicago Urban League, The Resurrection Project,  Asian Americans Advancing Justice Chicago , Rep. Theresa Mah, Sen. Jacqueline Collins, Sen. Robert Peters come together for first-of-its-kind statewide initiative.

WHEN:

Monday, Feb. 8, 10 a.m.

WHAT:

Armed with devastating new research, leaders hold virtual press conference pledging to do their part to «Disrupt Disparities» in Illinois and create a state where older adults can  age with the economic stability, health care resources and digital connectivity they need to lead healthy, stable and rewarding lives. Among research findings:

  • African American, Latino and Asian American older adults statewide are getting sick and dying of COVID-19 at rates much higher than their share of the population
  • African American/Black seniors are three times more likely to live in poverty, Latinos and Asian Americans are almost twice as likely as whites.
  • More than a third of Illinois African American/Blacks and Latinos over 65 have no internet access at all at home.

WHERE:

Zoom press conference

Register before Monday to receive an embargoed copy of report:

https://aarp-org.zoom.us/meeting/register/tJcqc-CurTIuGN1JcG0xkBeigLB_Ou1rJqEv

Contact:

Monika Wnuk, AARP Illinois

mwnuk@aarp.org/ (773) 742-3743

/PRNewswire/ — Feb. 5, 2021

SOURCE AARP Illinois

nTIDE January 2021 Jobs Report: Recovery stalls for people with disabilities

EAST ANOVER, N.J., Feb. 5, 2021 /PRNewswire-PRWeb/ — National Trends in Disability Employment (nTIDE) – issued semi-monthly by Kessler Foundation and the University of New Hampshire

As COVID-19 outbreaks continue to affect national and local economies, the job market struggled to maintain momentum, according to today’s National Trends in Disability Employment – Monthly Update (nTIDE), issued by <a target="_blank"…

EAST ANOVER, N.J., Feb. 5, 2021 /PRNewswire-PRWeb/ — National Trends in Disability Employment (nTIDE) – issued semi-monthly by Kessler Foundation and the University of New Hampshire

As COVID-19 outbreaks continue to affect national and local economies, the job market struggled to maintain momentum, according to today’s National Trends in Disability Employment – Monthly Update (nTIDE), issued by Kessler Foundation and the University of New Hampshire’s Institute on Disability (UNH-IOD). In the coming months, prospects for recovery may improve as vaccine availability increases and the federal government implements new public health measures and considers additional economic relief.

nTIDE COVID Update (month-to-month comparison)
In the Bureau of Labor Statistics (BLS) Jobs Report released Friday, the employment-to-population ratio for working-age people with disabilities decreased from 29.4 percent in December 2020 to 28.7 percent in January 2021 (down 2.4 percent or 0.7 percentage points). For working-age people without disabilities, the employment-to-population ratio also decreased from 70.9 percent in December 2020 to 70.5 percent in January 2021 (down 0.6 percent or 0.4 percentage points). The employment-to-population ratio, a key indicator, reflects the percentage of people who are working relative to the total population (the number of people working divided by the number of people in the total population multiplied by 100).

«In January, we saw a decrease in the employment-to-population ratio as COVID-19 infections spiked across the nation following the Christmas and New Year holidays,» said John O’Neill, PhD, director of the Center for Employment and Disability Research at Kessler Foundation. «We should see improvement in the employment-to-population ratio in coming months as the stimulus bills kick in and vaccines are more widely distributed,» he added.

The labor force participation rate for working-age people with disabilities decreased from 33.2 percent in December 2020 to 32.8 percent in January 2021 (down 1.2 percent or 0.4 percentage points). For working-age people without disabilities, the labor force participation rate also decreased from 75.7 percent in December 2020 to 75.5 percent in January 2021 (down 0.3 percent or 0.2 percentage points). The labor force participation rate is the percentage of the population that is working, not working and on temporary layoff, or not working and actively looking for work.

«The labor force participation rate for people with disabilities also declined slightly in January,» noted economist Andrew Houtenville, PhD, research director of the University of New Hampshire’s Institute on Disability. «Over the course of the pandemic, we have seen people with disabilities staying engaged in the workforce by either working, actively looking for work, or still expecting to be recalled. The decline in January may reflect the reinstatement of restrictions to stop the increasing spread of COVID-19.»

Traditional nTIDE Numbers (comparison to the same time last year)
The employment-to-population ratio for working-age people with disabilities decreased from 30.7 percent in January 2020 to 28.7 percent in January 2021 (down 6.5 percent or 2 percentage points). For working-age people without disabilities, the employment-to-population ratio also decreased from 74.4 percent in January 2020 to 70.5 percent in January 2021 (down 5.2 percent or 3.9 percentage points).                                                                     

The labor force participation rate for working-age people with disabilities decreased from 33.6 percent in January 2020 to 32.8 percent in January 2021 (down 2.4 percent or 0.8 percentage points). For working-age people without disabilities, the labor force participation rate also decreased from 77.4 percent in January 2020 to 75.5 percent in January 2021 (down 2.5 percent or 1.9 percentage points).

In January 2021, among workers ages 16-64, the 4,279,000 workers with disabilities represented 3.1 percent of the total 138,541,000 workers in the U.S.

nTIDE COVID Update – Friday, February 19 at 12:00 pm Eastern
Stay tuned for our mid-month update about the employment of people with disabilities as we follow the impact of COVID-19 and look at the numbers in more detail.

Ask Questions about Disability and Employment
Join our nTIDE Lunch & Learn series today, February 5, at 12:00 pm Eastern. This live broadcast, hosted via Zoom Webinar, offers attendees Q&A on the latest nTIDE findings, provides news and updates from the field, as well as invited panelists to discuss current disability-related findings and events. Today, Day Al-Mohamed, author, filmmaker, and disability policy executive, joins Dr. Houtenville, Dr. O’Neill from Kessler Foundation, and Denise Rozell, Policy Strategist at AUCD. Join live or watch the recordings at: ResearchonDisability.org/nTIDE.

NOTE: The statistics in the nTIDE are based on Bureau of Labor Statistics numbers but are not identical. They are customized by UNH to combine the statistics for men and women of working age (16 to 64). nTIDE is funded, in part, by grants from the National Institute on Disability, Independent Living and Rehabilitation Research (NIDILRR) (90RT5037) and Kessler Foundation.

About Kessler Foundation
Kessler Foundation, a major nonprofit organization in the field of disability, is a global leader in rehabilitation research that seeks to improve cognition, mobility, and long-term outcomes — including employment — for people with neurological disabilities caused by diseases and injuries of the brain and spinal cord. Kessler Foundation leads the nation in funding innovative programs that expand opportunities for employment for people with disabilities. For more information, visit KesslerFoundation.org.

About the Institute on Disability at the University of New Hampshire
The Institute on Disability (IOD) at the University of New Hampshire (UNH) was established in 1987 to provide a coherent university-based focus for the improvement of knowledge, policies, and practices related to the lives of persons with disabilities and their families. For information on the NIDILRR-funded Employment Policy and Measurement Rehabilitation Research and Training Center, visit ResearchonDisability.org.

For more information, or to interview an expert, contact:
Carolann Murphy, 973.324.8382, CMurphy@KesslerFoundation.org.

Media Contact

Carolann Murphy, Kessler Foundation, 973.324.8382, CMurphy@KesslerFoundation.org

 

SOURCE Kessler Foundation

Spanish Broadcasting System, Inc. Reports Select Preliminary Estimated Financial Results For The Fourth Quarter 2020

MIAMI, Feb. 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today its select preliminary estimated financial results for the fourth quarter 2020.

The Company expects net revenue to be between $39.1 million and $40.2 million, growing 31% to 34% as compared to the three months ended September 30, 2020. Net revenue is expected to be…

MIAMI, Feb. 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today its select preliminary estimated financial results for the fourth quarter 2020.

The Company expects net revenue to be between $39.1 million and $40.2 million, growing 31% to 34% as compared to the three months ended September 30, 2020. Net revenue is expected to be flat from the comparable political period for the three months ended December 31, 2018 and a decrease of 13% to 15% as compared to the three months ended December 31, 2019. The Company expects Adjusted OIBDA to be between $15.3 million and $16.4 million, which represents an increase of 81% to 94% as compared to the three months ended September 30, 2020. Adjusted OIBDA is expected to decrease 18% to 24% as compared to the three months ended December 31, 2019. The Company expects cash and cash equivalents at December 31, 2020 to be $28 million. 

Adjusted OIBDA is a supplemental financial measure that is not prepared in accordance with GAAP.  Adjusted OIBDA is not a measure of operating performance determined in accordance with GAAP, and should not be considered in isolation nor construed as an alternative to operating income, net (loss) income or cash from operating, investing or financing activities, each as determined in accordance with GAAP. Moreover, Adjusted OIBDA is not a measure determined in accordance with GAAP and thus is susceptible to varying interpretations and calculations.

We calculate Adjusted OIBDA by adding back to operating income (i) depreciation and amortization, (ii) (gain) loss on the disposal of assets, net, (iii) recapitalization costs, (iv) impairment charges, (v) executive severance, (vi) other operating income or expense and (vii) stock-based compensation to operating income. Currently, we are unable to provide a reconciliation for Adjusted OIBDA to net income (loss) (the most comparable GAAP measure) because a final review of the underlying amounts to reconcile Adjusted OIBDA to net income (loss) has not been completed.

The foregoing preliminary estimates presented in this press release are based on the Company’s current expectations, are unaudited and may be adjusted as a result of, among other things, the completion of the Company’s quarterly and annual financial closing procedures and audit by the Company’s independent registered public accounting firm. Actual results may differ materially from those disclosed in this press release.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching 95% of the U.S. Hispanic audience. SBS also owns MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including La Musica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.

Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «intend,» «may,» «might,» «objective,» «ongoing,» «plan,» «predict,» «project,» «potential,» «should,» «will,» or «would,» and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in this press release and include statements regarding our intentions, beliefs or current expectations. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, our substantial indebtedness and high leverage, our highly competitive industry, our ongoing response to the COVID-19 pandemic, our dependency on revenue and operating income from a limited number of markets, unpredictability of sales in the advertising industry, our ability to attract listeners, viewers and advertisers to our broadcast radio and television operations, the popularity and appeal of our content, our ability to maintain and renew distribution agreements, impact from tax reform and any new tax legislation, our ability to respond to rapid changes in technology, content creation, services and standards, our ability to protect our business from cybersecurity risks, performance of key employees, on-air talent and program hosts, reputational damage to our brands and legal or governmental proceedings and regulatory and other legislative compliance, including compliance with the Federal Communications Commission. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. We do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

Contacts:

Analysts and Investors

Analysts, Investors or Media

José I. Molina

Brad Edwards

Chief Financial Officer

The Plunkett Group

(305) 441-6901

(212) 739-6740

SOURCE Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. Reports Select Preliminary Estimated Financial Results For The Fourth Quarter 2020

MIAMI, Feb. 5, 2021 /PRNewswire/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today its select preliminary estimated financial results for the fourth quarter 2020.

The Company expects net revenue to be between $39.1 million and $40.2 million, growing 31% to 34% as compared to the three months ended September 30, 2020. Net revenue is expected to be flat from the…

MIAMI, Feb. 5, 2021 /PRNewswire/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today its select preliminary estimated financial results for the fourth quarter 2020.

The Company expects net revenue to be between $39.1 million and $40.2 million, growing 31% to 34% as compared to the three months ended September 30, 2020. Net revenue is expected to be flat from the comparable political period for the three months ended December 31, 2018 and a decrease of 13% to 15% as compared to the three months ended December 31, 2019. The Company expects Adjusted OIBDA to be between $15.3 million and $16.4 million, which represents an increase of 81% to 94% as compared to the three months ended September 30, 2020. Adjusted OIBDA is expected to decrease 18% to 24% as compared to the three months ended December 31, 2019. The Company expects cash and cash equivalents at December 31, 2020 to be $28 million. 

Adjusted OIBDA is a supplemental financial measure that is not prepared in accordance with GAAP.  Adjusted OIBDA is not a measure of operating performance determined in accordance with GAAP, and should not be considered in isolation nor construed as an alternative to operating income, net (loss) income or cash from operating, investing or financing activities, each as determined in accordance with GAAP. Moreover, Adjusted OIBDA is not a measure determined in accordance with GAAP and thus is susceptible to varying interpretations and calculations.

We calculate Adjusted OIBDA by adding back to operating income (i) depreciation and amortization, (ii) (gain) loss on the disposal of assets, net, (iii) recapitalization costs, (iv) impairment charges, (v) executive severance, (vi) other operating income or expense and (vii) stock-based compensation to operating income. Currently, we are unable to provide a reconciliation for Adjusted OIBDA to net income (loss) (the most comparable GAAP measure) because a final review of the underlying amounts to reconcile Adjusted OIBDA to net income (loss) has not been completed.

The foregoing preliminary estimates presented in this press release are based on the Company’s current expectations, are unaudited and may be adjusted as a result of, among other things, the completion of the Company’s quarterly and annual financial closing procedures and audit by the Company’s independent registered public accounting firm. Actual results may differ materially from those disclosed in this press release.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching 95% of the U.S. Hispanic audience. SBS also owns MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including La Musica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.

Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «intend,» «may,» «might,» «objective,» «ongoing,» «plan,» «predict,» «project,» «potential,» «should,» «will,» or «would,» and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in this press release and include statements regarding our intentions, beliefs or current expectations. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, our substantial indebtedness and high leverage, our highly competitive industry, our ongoing response to the COVID-19 pandemic, our dependency on revenue and operating income from a limited number of markets, unpredictability of sales in the advertising industry, our ability to attract listeners, viewers and advertisers to our broadcast radio and television operations, the popularity and appeal of our content, our ability to maintain and renew distribution agreements, impact from tax reform and any new tax legislation, our ability to respond to rapid changes in technology, content creation, services and standards, our ability to protect our business from cybersecurity risks, performance of key employees, on-air talent and program hosts, reputational damage to our brands and legal or governmental proceedings and regulatory and other legislative compliance, including compliance with the Federal Communications Commission. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. We do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

Contacts:

Analysts and Investors

Analysts, Investors or Media

José I. Molina

Brad Edwards

Chief Financial Officer

The Plunkett Group

(305) 441-6901

(212) 739-6740

Cision View original content:http://www.prnewswire.com/news-releases/spanish-broadcasting-system-inc-reports-select-preliminary-estimated-financial-results-for-the-fourth-quarter-2020-301223242.html

SOURCE Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. Announces Launch Of $310 Million Senior Secured Notes Offering

MIAMI, Feb. 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today that it has launched an offering of $310 million in aggregate principal amount of senior secured notes due 2026 (the «Notes»). The Notes will be guaranteed on a senior secured basis by certain of the Company’s subsidiaries, and secured, subject to certain exceptions, on a first-priority basis by the Notes collateral.

The…

MIAMI, Feb. 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — Spanish Broadcasting System, Inc. (the «Company», «we», «us», or «SBS») announced today that it has launched an offering of $310 million in aggregate principal amount of senior secured notes due 2026 (the «Notes»). The Notes will be guaranteed on a senior secured basis by certain of the Company’s subsidiaries, and secured, subject to certain exceptions, on a first-priority basis by the Notes collateral.

The Company expects to use the net proceeds of this offering along with cash on hand (i) to repay its 12.5% senior secured notes due 2017, (ii) along with certain other consideration, to repurchase and/or redeem all of its outstanding 10 3/4% Series B cumulative exchangeable redeemable preferred stock, $0.01 par value (the «Series B Preferred Stock») and (iii) to pay related fees and expenses.

The Notes and the related guarantees are being offered in the United States to persons reasonably believed to be «qualified institutional buyers» pursuant to Rule 144A under the Securities Act of 1933, as amended (the «Securities Act»), and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release does not constitute a redemption notice for the Series B Preferred Stock and is not an offer to purchase or a solicitation of an offer to sell the Series B Preferred Stock.

About Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. (SBS) owns and operates radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. SBS also operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations reaching 95% of the U.S. Hispanic audience. SBS also owns MegaTV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including La Musica, a mobile app providing Latino-focused audio and video streaming content and HitzMaker, a new-talent destination for aspiring artists. For more information, visit us online at www.spanishbroadcasting.com.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «intend,» «may,» «might,» «objective,» «ongoing,» «plan,» «predict,» «project,» «potential,» «should,» «will,» or «would,» and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. They appear in this press release and include statements regarding our intentions, beliefs or current expectations. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, our substantial indebtedness and high leverage, our highly competitive industry, our ongoing response to the COVID-19 pandemic, our dependency on revenue and operating income from a limited number of markets, unpredictability of sales in the advertising industry, our ability to attract listeners, viewers and advertisers to our broadcast radio and television operations, the popularity and appeal of our content, our ability to maintain and renew distribution agreements, impact from tax reform and any new tax legislation, our ability to respond to rapid changes in technology, content creation, services and standards, our ability to protect our business from cybersecurity risks, performance of key employees, on-air talent and program hosts, reputational damage to our brands and legal or governmental proceedings and regulatory and other legislative compliance, including compliance with the Federal Communications Commission. All forward-looking statements made herein are qualified by these cautionary statements and risk factors and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. We do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

Contact:
Analysts and Investors
José I. Molina
Chief Financial Officer
(305) 441-6901

SOURCE Spanish Broadcasting System, Inc.