Business News 0 commentsShareShareTweetSharePin it First Heatwave Expected Next Week Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. More Cool Stuff Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena HerbeautyWant To Seriously Cut On Sugar? You Need To Know A Few TricksHerbeautyHerbeautyHerbeauty12 Signs He’s Ready To Spend The Rest Of His Life With YouHerbeautyHerbeautyHerbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeautyHerbeautyThe Kardashians Know How To Throw A Good Party!HerbeautyHerbeautyHerbeautyThese Fashion Tips Are Making Tall Girls The Talk Of The TownHerbeautyHerbeautyHerbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeauty faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Subscribe Make a comment Your email address will not be published. Required fields are marked * Community News Walmart announced today it is closing 269 underperforming stores, including the Altadena store at 2408 Lincoln Avenue. It will close January 28, according to a company press release.The move comes as the retail giant eliminates 10,000 jobs as a result of the closures.The Altadena store is one of 154 locations in the U.S. the company is closing, which includes 102 of its small-format stores, Walmart Express. Also covered in the closures are 23 of Walmart’s Neighborhood Markets, 12 Supercenters, seven stores in Puerto Rico, six discount centers and four Sam’s Clubs.Walmart says the closures follow a thorough review of nearly 11,600 worldwide stores that looked at financial performance and strategic alignment with the company’s long-term plans. Outside the U.S., 115 stores are closing.“Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future,” said Doug McMillon, president and CEO, Wal-Mart Stores, Inc. “It’s important to remember that we’ll open well more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it.”Walmart said it hopes to place most of the 10,000 U.S. associates impacted by the closures in nearby locations. Otherwise, the company says it will provide 60 days of pay and, if eligible, severance. It will also provide resume and interview skills training to help associates find their next job opportunity. Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Community News Altadena Walmart Store on List of 269 Store Closures Announced Today From STAFF REPORTS Published on Friday, January 15, 2016 | 2:33 pm Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Name (required) Mail (required) (not be published) Website Community News Top of the News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS
FacebookTwitterLinkedInEmailPrint分享Quartz:The first initial public offering (IPO) in India from the booming renewable energy sector is here.ReNew Power, India’s largest renewable energy producer, is looking to raise Rs2,600 crore ($390 million) through its first public share sale. The move comes just a month after ReNew sealed India’s biggest renewable energy deal when it acquired New Delhi-based Ostro Energy for around $1.5 billion.The company intends to utilize the funds from the share sale to acquire companies and repay loans of certain subsidiaries, among other things. The IPO will comprise a fresh issue of shares worth Rs 2,600 crore, while existing shareholders, including Global Environment Fund, Green Rock Energy and GS Wyvern Holdings, an investment arm of Goldman Sachs, will sell some of their equity.Founded by Sumant Sinha, a former Wall Street banker, ReNew currently has an installed capacity of over 5,800 megawatts (MW) across wind and solar power plants. The seven-year-old company is backed by Goldmans Sachs, Abu Dhabi Investment Authority, Canada Pension Plan Investment Board, among other investors, and is valued at around $2 billion.While New Delhi-based solar power producer Azure Power went public in 2016 and listed on the New York Stock Exchange, ReNew’s will be the first public issue by a homegrown clean energy company on the Indian bourses.The success or failure of ReNew Power’s IPO will also be a benchmark for the rest of the sector. “(The) renewables sector has reached an inflection point now,” said Amit Kumar, a partner at consulting firm PwC, who focuses on the clean energy sector. A successful IPO from ReNew could give other Indian renewable energy players the confidence to raise funds from the Indian market, Kumar added.More: India’s Largest Renewable Power Company Is Set To Go Public ReNew IPO a Clear Indicator of India’s Growing Renewables Sector
It’s of significant concern that most Jamaicans seem to be taking public corruption as normal and acceptable. There are reports of a recent Jamaican poll that revealed the majority of people don’t care about corruption. This is despite the TI Global Corruption Barometer finding some 85 percent of Jamaicans regard the two major political parties as corrupt, and over 70 percent are currently more aware of corruption. Analysis of corruption tends to agree corruption is born out of poverty, and greed among public officials and the already wealthy. While the Jamaican government and Jamaicans generally deserve commendation for the great job in controlling the COVID-19 pandemic in that country, they are failing to control another devastating virus – public corruption. Another worrisome data is the Transparency International (TI) Corruption Perceptions Index (CPI) has ranked Jamaica highly among the more corrupt Caribbean countries in recent years. In 2018, Jamaica was ranked 70 worst corrupt country globally, and 8th in the Caribbean. Barbados was ranked as the least corrupt Caribbean nation. But what’s most needed is a government who places elimination of public corruption at the forefront of its priorities. Unless government ministers, members of parliament and public officials are swiftly, aggressively penalized, including stiff prison sentences, for misusing public funds, the general public will continue taking corruption as a way of life. In 2019 as Jamaica became embroiled in the Petrojam scandal it’s rank worsened to 74 out of 198 nations. Since than incidences of public corruption has widened involving the dismissal of a cabinet minister and public officials involved with corruption at the Caribbean Maritime University, and more recently the removal of portfolio responsibilities of another government minister involved in a scandal related to lands owned by the Ministry of Agriculture. Another minister, usually commended for his ministerial responsibilities, came under scrutiny last week for alleged corruption in his ministry. Also making the news for alleged corruption was a popular ranking member of the opposition People’s National Party (PNP). The practice of corruption worsens when those elected by the people to effectively manage public funds deliberately use these funds to brazenly compensate their romantic partners, family members, and close associates. The answer seems to be through money acquired by corrupt means. Some Jamaicans tend to take it for granted “that everything in Jamaica has a price.” This price includes paying insiders within government agencies special “under-the counter fees” for a variety services including getting licenses, documents, loans, jobs, contracts, placement in choice schools, and even bribing police officers not to issue tickets for traffic violations. Public corruption is a very close relative to crime. If the incumbent, or succeeding Jamaican governments, doesn’t take aggressive measures to eliminate public corruption, how can they succeed in controlling crime? If Barbados, The Bahamas and St. Vincent and the Grenadines can rank high among Caribbean countries with the least public corruption, why can’t Jamaica? It’s full time for a change. This corruption cannot be allowed to prevail. Jamaica does have a public body – The Integrity Commission charged with calling out and reducing public corruption. Obviously, the terms of the commission needs to be strengthened to enable it to be more effective in its role. Visitors to Jamaica, for example, in recent times, have returned and heard to comment on the boom of expensive residential houses, apartment and condominiums in Jamaica, and the number of high-end automobiles being driven by some people. These comments are usually accompanied by the question. “How can Jamaicans afford these residences and these vehicles?” The wealthy in developing countries, seem to be persistent in ascending on the social-economic ladder competing with members of their class for bigger, more luxurious homes in choice neighborhoods, and drive the latest model expensive automobiles. Of course, public corruption is not peculiar to Jamaica or other Caribbean counties. It’s a pandemic-like international problem affecting many global communities and economies, but it seems more prevalent in developing countries, especially some African countries. In recent weeks, news from Jamaica has reported acts of corruption mostly based on nepotism and cronyism, involving senior government ministers, parish councilors, mayors, government and opposition members of parliament, members of government appointed boards, and executives of government agencies. A recent report indicated the cost of corruption to the Jamaican economy is costing the economy 5 percent of GDP or an estimated US$738 million annually. The poor, most struggling to provide for their household, tend to be willing to accept money for serving others corruptly, or willing, paradoxically, to pay corruptly charged fees for special privileges and benefits for their family members. Most of these corrupt practices involved offering jobs and/or plush government contracts to close and often underqualified relatives, paramours, friends; and party political supporters. Several contracts have been offered outside of the protocols established for offering government contracts. A recent report from the Jamaican auditor general indicated contracts offered to build a classroom at the Caribbean Maritime University offered to a Florida based company owned and operated by member of the Jamaican diaspora who did not tender a bid for the said contract within the set deadline.
In making his announcement, Pompeo slammed the regime in Cuba for continuing to jail reporters and pro-democracy activists, suppress dissent, oversee “horrific” physical abuse and prop up President Nicolas Maduro in Venezuela, among other offenses. “The suspension of private charter flights will deny economic resources to the Castro regime and inhibit its capacity to carry out abuses,” Pompeo said in a statement. “This administration will continue to target and cut the revenue the Cuban government earns from landing fees, stays in regime-owned hotels, and other travel-related income,” Pompeo added. The United States is suspending private charter flights to Cuba Eva Marie UZCATEGUI AFP/File The Cuban military and intelligence services own and operate the great majority of hotels and tourism infrastructure in Cuba. The United States said they urge travelers of all nationalities to consider this and to make responsible decisions regarding travel to Cuba. WASHINGTON – The Secretary of State in the United States, Mike Pompeo, on Thursday said that the United States is suspending private charter flights to Cuba as another way to starve the government in Havana of revenue. “Unfortunately, the Castro regime has not changed its repressive and undemocratic behavior. It continues to imprison journalists and democracy activists, to oversee horrific physical abuse, to perpetuate the de facto dictatorship in Venezuela, to repress freedom of religion or belief, and to silence and intimidate those who speak truth about the reality in Cuba,” the US State department statement said.