Two workers approach the entrance to Life Care Center in Kirkland, Wash., on March 13. An association that represents nursing homes is asking for billions of dollars in federal relief funds to cope with the coronavirus crisis.; Credit: Ted S. Warren/AP

With more than 11,000 resident deaths, nursing homes have become the epicenter of the COVID-19 crisis. Now, they're asking the federal government for help — $10 billion worth of help.

The American Health Care Association, the trade organization for most nursing homes, called the impact on long-term care facilities "devastating." In a letter sent this week to the Federal Emergency Management Agency and Health and Human Services Secretary Alex Azar, they ask for the federal government to designate relief funding from the CARES Act for nursing homes the way it has for hospitals.

The money would be used for personal protective equipment, salaries for expanded staff, and hazard pay. In addition, some of the funds would make up lost revenue for nursing homes that have been unable to admit new residents because of the outbreak.

The AHCA also wants nursing homes to have more access to testing and some members of Congress want that too. This week, 87 members of the House of Representatives sent their own letter to Azar, as well as to Seema Verma, the administrator of the Centers for Medicare and Medicaid Services, which regulates nursing homes. The letter asks those agencies to direct states — which have received billions of dollars for increased testing — to give priority to long-term care facilities.

The letter also notes that nursing homes are now required to report their numbers of COVID-19 infections and deaths to the Centers for Disease Control and Prevention, but that they can't meaningfully do this unless they can test everyone in the facility.

Democrats in both the House and the Senate have also introduced legislation intended to make things safer for both nursing home staff and residents. The bill would require nursing homes to take a range of actions, from providing better infection prevention, to supplying sufficient protective gear, to protecting a resident's right to return to the nursing home after they've been treated for COVID-19 at a hospital.

This content is from Southern California Public Radio. View the original story at SCPR.org.

A man walks past Low Library on the Columbia University campus in New York City on March 9.; Credit: Mark Lennihan/AP

On Thursday, Columbia University and Pace University joined a growing number of colleges — including University of Miami, Drexel University and the University of Arizona — facing legal complaints aimed at their response to the coronavirus pandemic.

Thursday's suits were filed in federal court on behalf of Xaviera Marbury, a student at Pace, and an unnamed student at Columbia. Both complaints say students are owed reimbursement as well as damages for services that are no longer available now that campuses are closed. In both cases, those services include:

I. Face-to-face interaction with professors, mentors, and peers;
ii. Access to facilities such as computer labs, study rooms, laboratories, libraries, etc.;
iii. Student governance and student unions;
iv. Extra-curricular activities, groups, intramurals, etc.;
v. Student art, cultures, and other activities;
vi. Social development and independence;
vii. Hands-on learning and experimentation; and
viii. Networking and mentorship opportunities.

Marbury's complaint says her dorm rent costs $9,380 for the semester; she lost access to her dorm for approximately half the semester, the complaint says, but Pace is only offering to reimburse $2,000. Similarly, the Columbia complaint says that the student was refunded just 11% of their mandatory fees for the semester. The complaints also claim that though classes continue, their degree will eventually be worth less on the job market.

Marie Boster, a spokeswoman for Pace University, pointed out that the college is still offering services like tutoring and counseling along with classes remotely. "The faculty, staff and leaders of Pace continue to work tirelessly to support our students during this challenging time," she says. Columbia University had no comment on the suit.

The complaints, filed by a personal injury law firm in South Carolina, seek class action status on behalf of Columbia and Pace students. That same firm, Anastopoulo Law Firm, is also behind the suits against the University of Miami and Drexel.

"Universities are not delivering those services that students and their families have paid for," Anastopoulo attorney Roy T. Willey IV tells NPR. "It's not fair for the universities with multi-million dollar endowments to keep all of the money that students and their families have paid."

If the suits gain traction, the resulting damages would be a further blow to colleges already reeling from the financial impacts of the coronavirus. As NPR's Elissa Nadworny has reported, college endowments have taken a hit, some schools have begun to announce hiring freezes and others are looking at merging or closing their doors.

This content is from Southern California Public Radio. View the original story at SCPR.org.

; Credit: CSA-Archive/Getty Images

This week, U.S. Education Secretary Betsy DeVos announced that more than $300 million from the first coronavirus rescue package will go to two education grant competitions for K-12 and higher ed.

States will be able to apply for a piece of the $180 million allotted to the "Rethink K-12 Education Models Grant" and $127.5 million allotted to the "Reimagining Workforce Preparation Grant."

The money is 1% of the more than $30 billion set aside for education in the CARES Act. Those billions are intended to help states with the highest coronavirus burden.

States can access the money by creating proposals to fund virtual or work-based learning programs. The grant categories include two of DeVos' pre-existing pet policy ideas: "microgrants" that go directly to home-schooling families, and microcredentials that offer a shorter path to workforce preparation.

On the higher ed side, the secretary has long pushed for workforce-oriented education and shorter paths to a degree. She's been praised for this stance by online and for-profit colleges, while traditional institutions have been less sanguine.

Similarly, the secretary is a longtime advocate of alternatives to public schools, including home schooling. She has praised programs like Florida's Gardiner Scholarship, which provides up to $10,000 to the families of children with special needs to support home schooling. Last fall, DeVos proposed a $5 billion "Education Freedom Scholarship" program, which would have used federal tax credits to support, essentially, a voucher program that families could use both for private schools and home schooling.

While this week's announcement is significant for the policy directions it signals, it's a comparatively small amount of money. Education groups have asked the federal government for $200 billion (with a B) more in funds to maintain basic services.

This content is from Southern California Public Radio. View the original story at SCPR.org.

; Credit: LA Johnson/NPR

When Congress allocated money for higher education in the coronavirus rescue package, it set aside nearly $350 million for colleges that had "significant unmet needs."

Most of that money has now been allotted by the U.S. Department of Education to small, private colleges that serve just a fraction of U.S. college students. Meanwhile, public colleges — which serve more than 70% of all college students — are facing a steep drop in state funding.

The 20 institutions that received the most amount of money from the unmet-need fund serve less than 3,000 students combined, and about half are religious schools — including Bible colleges and seminaries — several of which serve less than 100 students.

Don't see the graphic above? Click here.

Lawmakers designed this unmet-need fund to give priority to any higher education institution that has received less than $500,000 through the CARES Act's other pots of funding. As a result, a school like Virginia Beach Theological Seminary, which serves 47 students, is eligible to receive $496,930 in federal aid.

"Imagine you had a special reserve fund to deal with a big crisis and you spent over 90% of that in one fell swoop on vacation tickets," or something that "wasn't as necessary in the moment," says Ben Miller, the vice president for postsecondary education at the left-leaning Center for American Progress. Miller argues larger public colleges, including community colleges that serve tens of thousands of students, should be getting more financial support. He calculates the department allocated more than $320 million of the $350 million on relief for small colleges, most of them private.

"As a result, they only have about 8% of the dollars they originally got here left to help any other college in the country that might be most affected," he says.

As with other CARES Act funding, in order to receive the money, an institution would still need to request it from the Department of Education.

Much of the CARES Act's more than $14 billion for higher education is being distributed according to the number of full-time low-income students a college serves, which is measured through federal Pell Grants.

The $350-million unmet-need fund followed a different formula. Miller says for this particular pot, schools that did not receive $500,000 or more from other available CARES Act funds were given the difference between what they did receive and $500,000 limit.

"So the result is that the smaller you are and the less money you've already gotten, the more you get from this program," Miller says.

But $350 million can only go so far. Education Secretary Betsy DeVos was given the discretion to choose which schools would benefit from the fund, and by how much.

Some schools were baffled when they learned they had been allotted hundreds of thousands of dollars in relief, and many weren't aware they were even eligible for the money. Brad Smith, the president of Bakke Graduate University in Dallas, which was allotted $497,338 in federal aid, says he didn't learn of his school's eligibility until he was contacted by NPR.

"I don't know anything about this," Smith says, noting that his school hadn't asked for additional federal help. "I'm taking responsibility to find out what it means."

An Education Department spokesperson tells NPR, "In order to receive this funding, an institution will need to request it. Any institution that does not need this money should simply decline to request it so schools will not be in the position of having to return unneeded funds."

The department says, once the requests are processed, any remaining funds will be redistributed through competitive grants.

This content is from Southern California Public Radio. View the original story at SCPR.org.

; Credit: LA Johnson/NPR

When Congress allocated money for higher education in the coronavirus rescue package, it set aside nearly $350 million for colleges that had "significant unmet needs."

Most of that money has now been allotted by the U.S. Department of Education to small, private colleges that serve just a fraction of U.S. college students. Meanwhile, public colleges — which serve more than 70% of all college students — are facing a steep drop in state funding.

The 20 institutions that received the most amount of money from the unmet-need fund serve less than 3,000 students combined, and about half are religious schools — including Bible colleges and seminaries — several of which serve less than 100 students.

Don't see the graphic above? Click here.

Lawmakers designed this unmet-need fund to give priority to any higher education institution that has received less than $500,000 through the CARES Act's other pots of funding. As a result, a school like Virginia Beach Theological Seminary, which serves 47 students, is eligible to receive $496,930 in federal aid.

"Imagine you had a special reserve fund to deal with a big crisis and you spent over 90% of that in one fell swoop on vacation tickets," or something that "wasn't as necessary in the moment," says Ben Miller, the vice president for postsecondary education at the left-leaning Center for American Progress. Miller argues larger public colleges, including community colleges that serve tens of thousands of students, should be getting more financial support. He calculates the department allocated more than $320 million of the $350 million on relief for small colleges, most of them private.

"As a result, they only have about 8% of the dollars they originally got here left to help any other college in the country that might be most affected," he says.

As with other CARES Act funding, in order to receive the money, an institution would still need to request it from the Department of Education.

Much of the CARES Act's more than $14 billion for higher education is being distributed according to the number of full-time low-income students a college serves, which is measured through federal Pell Grants.

The $350-million unmet-need fund followed a different formula. Miller says for this particular pot, schools that did not receive $500,000 or more from other available CARES Act funds were given the difference between what they did receive and $500,000 limit.

"So the result is that the smaller you are and the less money you've already gotten, the more you get from this program," Miller says.

But $350 million can only go so far. Education Secretary Betsy DeVos was given the discretion to choose which schools would benefit from the fund, and by how much.

Some schools were baffled when they learned they had been allotted hundreds of thousands of dollars in relief, and many weren't aware they were even eligible for the money. Brad Smith, the president of Bakke Graduate University in Dallas, which was allotted $497,338 in federal aid, says he didn't learn of his school's eligibility until he was contacted by NPR.

"I don't know anything about this," Smith says, noting that his school hadn't asked for additional federal help. "I'm taking responsibility to find out what it means."

An Education Department spokesperson tells NPR, "In order to receive this funding, an institution will need to request it. Any institution that does not need this money should simply decline to request it so schools will not be in the position of having to return unneeded funds."

The department says, once the requests are processed, any remaining funds will be redistributed through competitive grants.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Oil snapped a three-day gain as exchange-traded funds avoided nearer-term contracts.

The Enterprise and Endeavour both have temporary displays, but their museums need help to make plans for permanent homes a reality.

New Hampshire, New Mexico, Montana, Minnesota, and Utah have completed 30% of their home weatherization projects, unlocking additional program funding.

The U.S. Department of Energy's Advanced Research Projects Agency-Energy (ARPA-E) has awarded $151 million to 37 forward-thinking energy research projects.

A few towns are doing just fine, thanks to a blank check written in the wake of the Gulf oil spill.

'Soup for Syria' by Barbara Abdeni Massaad compiles international recipes to raise funds for food relief for Syrian refugees.

The proportional refunds for customers in distress follows Admiral's flat £25 payment but broker customers are not included in the £30m LV has set aside for rebates.

NDML is asking for some of Pool Re’s £6.6bn cash to be used to help businesses in the leisure and hospitality sector which have been hit by coronavirus.

Investing is not a competitive event, ever. You don't need to beat the market. You need to accomplish a set of personalized goals. Avoid what the crowd is doing and shun investment products. Consumers buy products; Investors buy securities.

Great link Twitter More information like this. To see more, read this. Keywords: Financial planning approach, Build your portfolio, San francisco asset protection, Investment advisor search, What is an investment advisor, Top financial advisors. Graphics: Post

The post Five Ways a Certified Financial Advisor Can Help You Optimize Your Funds appeared first on RSS News Feed.

Donating money to charities can be a great way for a family to make an impact on their community, and to create a lasting legacy.  Charitable donations can also make sense as a way to eliminate tax liability. Many times, when a family is considering a donation to charity, the donation they will fund the […]

The post Donor Advised Funds and Foundations appeared first on RSS News Feed.

Nine housing projects are currently being developed: five in the East Coast, two in the West Coast and another two – in Roseau City. The scheme was made possible thanks to the small island's successful Citizenship by Investment (CBI) Programme.

MyUS.com will match every dollar that is donated up to $10,000 (USD) through Friday, January 31, 2020 at 11:59 pm ET.

Bunch & Brock, Attorneys at Law, encourages individuals with financial difficulties to improve their financial situation by using their tax refund to file for bankruptcy.

Strategic venture capital fund of funds comes to the final close

Praxis Mutual Funds strongly urges the SEC to reconsider the proposed rules

1. OSHA Issues Additional Guidance on COVID as Recordable Illness

On April 10, 2020, OSHA released updated enforcement guidance for recording cases of COVID-19. The guidance clarifies that OSHA’s recordkeeping requirement for COVID-19 as a recordable illness applies to those in the healthcare industry and emergency response organizations. OSHA will not enforce its recordkeeping requirements to employers outside of these sectors.

NECA’s Look Ahead: NECA has been working with OSHA to make this clarification to ensure that NECA contractors are not responsible for recording COVID-19 on their OSHA 300 logs on the basis that it is impossible to prove COVID-19 was contracted on the jobsite.

2. GSA Issues Order Allowing Electronic Signatures for Bonding

NECA Government Affairs has worked with allied groups in the construction industry to push the General Services Administration (GSA) to issue an order allowing bonding vendors and sureties to use electronic signatures instead of the typically required ‘wet’ signatures. By doing so, our contractors can receive bonding, necessary on a majority of jobs, sooner and with less unnecessary contact during these challenging times.  We are pleased to announce that this reform was recently issued. While this strictly applies to only GSA contracts, NECA government affairs, along with others, is working to spread this reform to the entirety of the federal government.

NECA’s Look Ahead: Our contractors commend the GSA for their prompt response and reasonable revision. NECA will continue to work with the GSA and other construction industry groups to push for responsible reform and the removing of barriers to our industry’s reinvigoration.

3. NECA Calls for Additional Funding for Paycheck Protection Program

NECA and many of its Chapters joined over two hundred trade associations in sending a letter to Congress to urge emergency funding for the Paycheck Protection Program (PPP). The PPP has been very successful and widely utilized by the construction industry according to the Small Business Administration. The program ran out of funding on April 16, 2020.

NECA’s Look Ahead: With both the House and the Senate officially out of session until May, it  seems unlikely that Congress will be able to agree to and pass by unanimous consent, NECA remains committed to urging Congress to continue to fund this important program and return to Washington D.C. to start critical negotiations for Phase IV COVID-19 legislation. 

Franklin fiasco will not have any bearing on other mutual funds: Nilesh Shah

Swaraj said this while chairing a meeting of India Development Foundation of Overseas Indians, a trust established to supplement development efforts.

Siddaramaiah further stressed Karnataka's pro-NRI stance by pointing to the newly-released policy catering to their interests

As the financial markets scenario is changing, it is important to review and modify (if needed) the existing asset allocation. However, before going ahead, you should consult your financial advisor.

Amfi data released on Friday showed SIP inflows fell 3 per cent to Rs 8376.11 in April.

The Franklin Templeton Mutual Fund fiasco seems to have hit the debt mutual fund space very hard. The data released by Association of Mutual Funds in India or Amfi reveals that most debt mutual fund categories have witnessed outflows in the last month.

​​ET Wealth studies the quality of papers held by the five largest schemes of different debt fund categories to see if investors should be worried.

You should explore the `pause your SIP’ option offered by mutual funds before finalising to stop your mutual fund investments through SIPs.

The global economy is already in recession. Travel and tourism, restaurants, movie theatres and scores of other businesses have suddenly come to a standstill.

Investors and advisors alike have been very unkind to this Thirteen Lakh Crore category of Mutual Funds, because of one of its sub categories: Credit Risk Funds, managed by Franklin Templeton Mutual Fund.

If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

Credit risk funds have always been vulnerable to its investments of up to 65% (and more) in the lower-rated instruments. To earn higher returns than the rest of the debt categories, the fund manager buys high-yielding, low credit quality bonds.

If you're wondering what could be common between a game of relay and a cyclical mutual fund, there are quite a few to state.

Equities are true blue wealth creators in the long term - this is probably the most preached mantra, but seldom practiced!

An alternate option, in this case are Equity Linked Saving Schemes (ELSS) or tax-planning mutual funds as they are popularly known.

In the past two weeks, at least five companies have either issued, or announced plans to issue, non-convertible debentures worth a total of Rs 5,500 crore, as per information available from filings with stock exchanges.

The Department of Justice announced today that the Western Union Remission Fund began its first distribution of approximately $153 million in funds forfeited to the U.S. government from the Western Union Company (Western Union) to over 109,000 victims located in the United States and abroad. These victims, many of whom were elderly victims of consumer fraud and abuse, will be recovering the full amount of their losses.

The Department of Justice announced today that it has repatriated to Malaysia approximately $300 million (RM 1.292 billion) in additional funds misappropriated from 1Malaysia Development Berhad (1MDB), Malaysia’s investment development fund, and laundered through financial institutions in several jurisdictions, including the United States, Switzerland, Singapore and Luxembourg.

A Lake Worth, Florida, businessman pleaded guilty today to tax evasion and willful failure to file a Report of Foreign Bank or Financial Account, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Ariana Fajardo Orshan for the Southern District of Florida.

The Securities and Exchange Commission today voted to adopt rule amendments to implement certain provisions of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act relating to business…

The announcement follows MLB's decision that refunds could be issued.

On Tuesday, June 9, 2009, the National Park Service began a project to reconstruct the South Kaibab Trail in Grand Canyon National Park. The project is funded, in part, with funds from the American Recovery and Reinvestment Act. https://www.nps.gov/grca/learn/news/grand-canyon-national-park-begins-trail-reconstruction-project-using-funds-received-under-presidents-economic-recovery-plan.htm

The National Park Service continues to accomplish work on projects at Grand Canyon National Park that have been funded, in part, through the American Recovery and Reinvestment Act of 2009 (ARRA). https://www.nps.gov/grca/learn/news/national-park-service-continues-repair-and-reconstruction-projects-at-grand-canyon-with-funds-from-the-american-recovery-and-reinvestment-act.htm

Under clear blue skies the National Park Service and Havasupai tribal members held a ribbon cutting ceremony today for newly constructed housing in Supai Camp located within Grand Canyon National Park. https://www.nps.gov/grca/learn/news/5aug10-2_news.htm

Former iHEARTMEDIA Top 40 KHTS (CHANNEL 933)/SAN DIEGO morning co-host STEVE KRAMER, now hosting his "CERTIFIED MAMA'S BOY" podcast, raised over $6000 to feed third shift … more

ENTERCOM's BOSTON cluster aired a special "Feed NEW ENGLAND Radiothon" on TUESDAY (5/5), raising funding to provide 156,684 meals for people in need through GREATER BOSTON FOOD … more