Red Cross funds study into how Fort McMurray wildfire affected First Nation

first_imgThe Canadian PressMelanie Dene still remembers the harrowing ordeal of driving through fiery hell during the evacuation of Fort McMurray six months ago with her two young daughters.The chaos of traffic-choked roads, the thick smoke from the massive northern Alberta wildfire and flames so hot that her car stalled _ its engine on fire _ are all still fresh in her mind.“It was scary and I was like ‘Oh my God,” she said. “I just started praying and telling my girls that it was going to be OK.“There was just fire dropping everywhere. I just can’t get that image out of my head. My first thought was we are going to die.”Dene and her family lost their home and all of their belongings in the fire but made it out safely. They now live in Edmonton.She and others are now the subject of a research study into how the wildfire affected First Nation and Metis communities in and around the Fort McMurray region.The Canadian Red Cross is funding research, which involves talking to people whose homes were destroyed in the city, who faced food shortages in outlying communities and those who can no longer hunt, trap or pick berries because of the charred terrain.The study involves five First Nations that make up the Athabasca Tribal Council along with the Wood Buffalo, Willow Lake and Chard Metis communities and other organizations.Maggie Farrington, CEO of the tribal council, said they hope to learn how to help communities recover from the fire and be better prepared for future disasters. The council estimates about 10,000 Indigenous people live in the region, including some who lost homes in some of the hardest hit city neighbourhoods.The $500,000 study is being conducted by a consulting firm and will include asking people to share what happened to them during the fire.“There is a healing element in telling stories,” Farrington said. “At some point their stories will contribute to a larger dialogue to help build a resiliency that we really hope will be the ultimate result of this research.”The report is to be completed in 18 months and its findings are to be shared with governments.Farrington said Indigenous people are determined to bounce back from the wildfire, including eight of her staff who lost homes in the blaze.The tribal council building survived, but the flames scorched the teepee lodge polls the organization uses for ceremonies. Staff simply scraped off the charred areas so they can be used again.Before May 3, Dene always thought of fire as a source of warmth, not as something mean and destructive. She said it took time before she could even look at a campfire, but finally came to terms with her fear.During a birthday celebration for one of her daughters she made a point of looking directly into the flames in a fireplace.“It was really hard for me. I was terrified. But I did it,” she said.“It has been six months and I still feel that we are still experiencing the trauma.”news@aptn.calast_img read more

Thousands of travellers affected in Europe by Ryanair strike

first_imgMADRID – Thousands of travellers in Europe saw their plans disrupted Friday after airline Ryanair cancelled more than 200 flights because of strikes by cabin crew in Spain, Belgium, Holland, Portugal, Italy and Germany.The budget airline says it had informed passengers of possible disruptions ahead of time, giving them time to adjust.In Tenerife, Spain, hundreds of passengers queued at Ryanair counters and dozens more at the Madrid airport as 86 flights of the low-cost company from or to Spain were cancelled, affecting some 16,000 passengers, according to Spanish unions.The unions blame the Ireland-based company for breaking talks over the company’s ratio of outsourced workers, working conditions and their demand for local contracts instead of Irish ones.In a statement Thursday, the company blamed cabin crews of competitors for organizing the strikes and blocking “significant progress” in labour negotiations.But the Brussels-based European Cabin Crew Association, which says it has more than 35,000 members, supported the walkout over what it described as the airline’s “inflexibility, single-mindedness and unreasonable behaviour.”The association alleged Ryanair was intimidating strikers by threatening them with job losses.As the company and labour groups traded accusations, some passengers left on the ground by the cancellations were galled.“They (Ryanair) sent me a text saying, ‘Have a look at your email.’ I don’t have an email,” said Eddie Hughes from Norfolk, England, at Madrid airport.Spanish cabin crew workers’ unions said cancellations could be increasing throughout the day. Airports in Valencia, Mallorca and Tenerife are the most affected, the unions said.In Portugal, 13 morning flights were cancelled and in the Netherlands, 14 of 22 flights were cancelled.last_img read more

UK leader deploys ministers to sell Brexit deal to public

first_imgLONDON — British Prime Minister Theresa May is deploying 30 members of her government throughout the country to rally support for her deal on leaving the European Union.Treasury chief Philip Hammond and Health Secretary Matt Hancock are among the senior ministers who are making appearances around Britain in an effort to win popular support for the agreement and put pressure on lawmakers to approve the deal.May says people in Britain “want us to get on with it,” and that it is important ministers speak with communities to explain how her Brexit deal “works for them.”The House of Commons is scheduled to vote on the plan Tuesday. May has shrugged off calls to postpone the vote despite forecasts that lawmakers are likely to reject it.The Associated Presslast_img read more

Morocco and India Sign Extradition Agreement for ‘Fugitive Offenders’

Rabat – Indian Minister of State for Home Affairs Kiren Rijiju and Moroccan Minister of Justice Mohamed Aujjar signed the agreement on Monday, November 12, in New Delhi.The purpose of the agreement is to “strengthen bilateral cooperation with Morocco and enhance effectiveness and provide a broad legal framework for prevention, investigation and prosecution of crimes; as well as in tracing, restraint and confiscation of funds meant to finance terrorist acts,” a statement by the Indian home affairs ministry said.Aujjar is making a VIP visit to India on November 11-18. The agreement will also provide a legal base for extraditing fugitive offenders “who are accused of economic offences, terrorism and other serious offences”, according to Indian Ianslive news outlet.As part of the agreement, both parties will cooperate in serving summons, judicial documents, and letters of request, and in executing judgments, decrees, and arbitral awards.Both ministers reiterated their firmness to jointly counter the threats of organized crime and terrorism.The Indian Cabinet Committee on Economic Affairs (CCEA) approved the signing of the extradition agreement between Morocco and India on Thursday, November 8.India and Morocco enjoy friendly bilateral relations. This year, both countries signed many agreements and MoUs on different sectors including air service, tourism, social programs, mining and geology, and information technology. read more

UN force mourns peacekeepers murdered in eastern Chad

The United Nations Mission in the Central African Republic and Chad (MINURCAT) today expressed its dismay over the killing yesterday of a peacekeeper and two soldiers of the European Union force (EUFOR) by a fellow soldier in a camp in Abeché in eastern Chad. “A French soldier of the EUFOR military operation killed two of his cohorts as well as a Togolese UN peacekeeper for reasons yet to be determined,” the Mission said in a news release issued in N’Djamena. Chadian authorities, in collaboration with France and EUFOR, are investigating the incident and searching for the perpetrator. MINURCAT reiterated its full confidence in EUFOR and conveyed its condolences to the families of the victims. In September 2007, the Security Council approved the establishment of a UN-mandated, multidimensional presence, including EU military forces, in Chad and CAR to help protect civilians and facilitate humanitarian aid to thousands of people uprooted due to insecurity in the two countries and neighbouring Sudan. On 15 March, UN peacekeepers took over the military and security responsibilities of EUFOR after the Council approved the deployment of an additional 5,500 blue helmets to serve with MINURCAT. 8 April 2009The United Nations Mission in the Central African Republic and Chad (MINURCAT) today expressed its dismay over the killing yesterday of a peacekeeper and two soldiers of the European Union force (EUFOR) by a fellow soldier in a camp in Abeché in eastern Chad. read more

NBC says it has surpassed 1 billion in Olympic ad sales

NBC says it has surpassed $1 billion in Olympic ad sales by The Associated Press Posted Mar 29, 2016 9:05 am MDT Last Updated Mar 29, 2016 at 11:05 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email NEW YORK, N.Y. – NBC says that it has surpassed $1 billion in advertising sales for the upcoming Olympics in Rio de Janeiro, Brazil, and is on pace to set a record for the most national advertising sold for any single event.By contrast, the network announced reaching the $1 billion sales milestone only two days prior to the opening of the 2012 Olympics in London.Seth Winter, advertising chief for NBC Sports, said Tuesday that the sales are an indication of advertisers’ desire for big-event programming. Unlike many Olympics, NBC will be able to televise live events in prime time from Rio; the Brazilian city is one hour ahead of the eastern United States.The Brazilian Olympic games are set to begin Aug. 5. read more

Downhole technology specialist Qteq buys Surtech and WellServ

first_imgQteq clients will soon have access to a series of new, innovative measurement sensors and systems to provide borehole data, after the business agreed to acquire Perth-based subsurface data logging company Surtech Systems Pty Ltd.Qteq also agreed to acquire Directional & Measurement Whilst Drilling (MWD) company WellServ Pty Ltd, in a cash and scrip transaction. These will be Qteq’s third and fourth acquisitions for this financial year.Surtech is a leading provider of downhole geophysical measurements and utilises a fleet of 23 vehicles across Australia, with main bases in Perth and Brisbane.The acquisitions will provide the Brisbane-based company with Surtech’s industry-leading systems to collect accurate data on the composition and behaviour of subsurface rocks.Surtech founder and Managing Director Martin Mulliner, who launched the company more than 20 years ago, said the integration of the two businesses would provide many opportunities.“We will build on our shared vision to offer the most innovative subsurface services and technology in Australia, across all georesources,” Mulliner said.Qteq CEO and Chair Simon Ashton said he was delighted to welcome Martin and the Surtech team to the Qteq Group.“It is a complementary acquisition which greatly enhances our service capability, with operational bases now established in Western Australia, South Australia and Queensland,” Ashton said.“It will accelerate the market adoption of our BMR (Borehole Magnetic Resonance), Spectroscopy and LWD (logging-while-drilling) services that we are currently developing.“Qteq has grown from 40 employees, since launching in August 2017, to more than 110 today, and has managed explosive growth in demand for our services.“We are an example of a thriving Australian company, more than 90% owned by our Australian staff and management, that creates new opportunities through developing and applying technology.”last_img read more

Water Meter Installation Goes Wrong Pic of the Day

first_imgClick here to see a larger version. (Image Credit: Seán O’Rourke)Water has since been restored to local residents and the company apologises for any inconvenience caused.Read: Dublin man stops Irish Water workers installing meter at home 12 different times > Click here to see a larger version. (Image Credit: Seán O’Rourke)WHILE SOME PEOPLE may not be keen on having a water meter connected to their home’s supply, how would they feel about Irish Water installing a beautiful water feature in their front garden?One resident of Brookhaven Park in Blanchardstown, Dublin was treated to just that as workers installed an eight metre high fountain in their front garden.Kinda.Irish Water confirmed that there was an issue with a burst pipe on the street this morning.In conjunction with Fingal County Council, a crew was on the ground within an hour this morning and water has now been restored to the number of houses affected in the Brookhaven Estate.last_img read more

Sound Stack le hautparleur iOS de Soundfreaq

first_imgSound Stack: le haut-parleur iOS de SoundfreaqSoundfreaq a fabriqué un haut-parleur exclusivement orienté vers la gamme de produit Apple…Pour mieux en extirper les sustantifiques notes ?Soundfreaq a conçu un dock pour Apple appelé Sound Stack. Compatible avec les iPod, iPod Touch, iPhone et iPad, il s’agit d’un haut-parleur de haute qualité sans câbles encombrants. Il est également possible d’utiliser le Sound Stack avec le Bluetooth et le Wi-Fi, bien que cela demande plus d’énergie.À lire aussiLe baladeur : du walkman au MP3… 30 ans d’évolutionDisponible pour le prix de 400 dollars (environ 290 euros), le haut-parleur sans fil Sounfreaq Sound Stack mesure un peu plus de 5 cm. Ses deux subwoofers actifs délivrent des basses naturelles et le système de traitement du son UQ3 permet de délivrer un rendu sonore de grande fidélité.Soundfreaq espère toucher le grand public avec un produit de qualité au rendu sonore élaboré. Sa compatibilité avec toute la gamme Apple offre probablement à ce matériel la diffusion qu’il mérite. Le 6 novembre 2011 à 14:09 • Maxime Lambertlast_img read more

Aldridge scores 26 Portland routs Charlotte

first_imgPORTLAND — The Rose Garden reception for Joel Przybilla and Dante Cunningham was warm and appreciative and chock full of admiration. The Trail Blazers weren’t quite as welcoming. Meeting their former teammates for the first time since they were traded away nine days earlier, Portland players were merciless amid the reunion. Their first and second units dominated. They got production out of everyone who took the floor. And in allowing the fewest points they have all season, the Blazers crushed the Bobcats, 93-69. “We played defense to try to keep it close,” Blazers forward LaMarcus Aldridge said. “We finally found our rhythm in the second half. That was big for us.” Yes, the first 24 minutes of Saturday’s game was certainly no study in aesthetics. Despite leading 40-35 at the break, Portland finished the first half shooting 37 percent. Charlotte, meanwhile, was at 39 percent. It was even uglier from behind the 3-point line, in which the Blazers were 2 of 11 and the Bobcats 1 of 6.If Portland head coach Nate McMillan delivered an inspiring locker-room speech at halftime is unknown, but the Blazers morphed into a different team in the second half. That was much in part due to the second unit. Point guard Patty Mills made just four shots Saturday, but all came from beyond the arc as he finished with 12 points. Brandon Roy played just 20 minutes Saturday, but he capitalized on it by by scoring 10 points.last_img read more

Video of young boy helping elderly woman up stairs goes viral

first_imgMILLEDGEVILLE, Ga. (WSVN) — A young Georgia boy’s random act of kindness has gone viral for all the right reasons.Riley Duncan posted a video on Facebook that shows a young boy helping an elderly woman with a walker climb up a set of stairs.The 8-year-old was in a car with his family when he saw the woman crossing the street. He stopped traffic and rushed over to help her, Duncan told WSB-TV.The boy didn’t know he was being recorded as he held the woman’s arms and slowly guided her up each stair. She gave the boy a hug for his kindness.“She told him that he’s special,” the boy’s mother told the news station.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.last_img read more

Workbooks gifted to govt school students

first_imgSangareddy: Prerna Shikhana Foundation distributed Telugu and Mathematics workbooks to the students of government school at Khammampalli on Thursday. Speaking on the occasion, ZPTC of Munipalli, P Meenakshi Saikumar appreciated the organisation for the gesture. She told the students to utilise the opportunities like this. She also said that government schools were also competing on par with private schools. Coordinator of the organisation T Suresh, sarpanch Jasmine, SMC chairman Salomi, Urdu medium chairman Farooq Patel, Ambedkar youth village president T Rajender, HM and teachers were present.last_img read more

Armando Walle Will Run For ReElection To Texas House Of Representatives

first_imgFlorian MartinState Representative Armando Walle (fourth from the right) has announced he is running for re-election to the Texas House of Representatives.State Representative Armando Walle announced Wednesday he is running for re-election to the Texas House of Representatives.Walle, a Democrat, will be running for his sixth term to represent House District 140, which includes north Houston and Aldine.“After much consultation and consideration with my family, friends, and community, I have decided to run for re-election to the Texas House,” Walle said in a statement.The Representative added that his “experience and knowledge” will be “more important than ever given the work that remains at the state level in the aftermath of Hurricane Harvey as well as in our fight for strong neighborhood schools, good-paying jobs, and quality healthcare for our families.”Last week, Walle declared his candidacy to succeed U.S. Representative Gene Green, after the Congressman announced he will not seek re-election for the 29th Congressional District.“We will dearly miss Congressman Gene Green’s experience, strong work ethic, and commitment to the people of the 29th Congressional District of Texas. Since his retirement announcement, I have seen optimism and excitement for a new generation of leadership,” Walle’s statement noted about Green and added: “I look forward to continuing engagement with the community on how we can best move forward.” Sharelast_img read more

When Australian Masterchef comes for breakfast

Bringing together the hospitality fraternity, a breakfast session with Masterchef Australia host George was organised in the Capital recently. This early morning session, organised by Fine Food India, brought the who’s who from the hospitality business, chefs and restaurateurs to talk about food. George Calombaris made up for the absence of his co-host Gary Mehigan and said: ‘Gary is totally Bollywood. He would have loved to be here had he felt better.’ Also Read – ‘Playing Jojo was emotionally exhausting’Goerge said what is special about Masterchef Australia is that it has roped in cuisines from across the world. There was a whole round of questions the restaurateurs and the public asked George. On being asked about his status as a celebrity chef, he said: ‘I deny the concept of the celebrity chef. I am a chef, that’s it.’For the young food enthusiasts who had gathered there who dreamt of becoming chefs in future, George said, ‘It is very important to engage oneself in cooking and also know where the raw material comes from. The farms ideally and not the supermarkets.’ Also Read – Leslie doing new comedy special with Netflix‘I buy only my toilet papers from the supermarket,’ quipped the chef.About Indian food he said Gary knew more than him. ‘He could actually tell you when and where the food originated and how was it used and all that.’ As for himself, the chef admitted that he couldn’t help wonder about the Indian food especially jalebis which are fermented lactose. ‘It is amazing to see such diverse food culture wherever we go,’ said the 34-year-old chef.When asked whether it is more important to have technical skills or creative ones, he said that it is a mix of both. ‘There are a lot of chefs with so much technical skills and then there are those who does it differently. So we need both these.’‘There is also Nigella, who absolutely makes anything out of the leftovers. This is also something different,’ he added.  The event was concluded with an elaborate breakfast spread. read more

Revealing the charm of Cham

first_imgIndira Gandhi National Centre for the Arts (IGNCA)  is hosting an International Conference on Cham Art Heritage of Vietnam. The Cham people are the inhabitants of mountainous region of Central-South Vietnam, Cambodia and Laos. The Cham civilization has been focus of studies and conferences in the field of history, language, religion, culture, art and architecture. However, its inner connections and its external relations have so far not been studied in depth.  Also Read – ‘Playing Jojo was emotionally exhausting’The two-day international conference will comprises of academic sessions and cultural programmes on both the days and Odishi dance recital by Madhavi Mudgal and disciples on its closing day. The event will be inaugurated on 25 April at IGNCA. The conference will be carried out in six sessions and one sub-session.The proposed panels of the conference are: Polynesian, Indian and Indigenous context of Cham art, interface of art and ecology in Cham art, connections of Cham art with Indian and South East Asian art styles, Cham architecture and its connection with India and South East Asia, Chams musical instruments in the wider context of Indian and South East Asian traditions, many research on Champa based on epigraphy and recent field work including Bhasa and Sahitya sastriya study of the inscriptions of Champa. The various sessions will be chaired by eminents like- Satya Vrat Shastri, Anton O. Zakharov, Phan Thi Thu Hien, Ganga Nath Jha, Philippe Delanghe, Himansu Prabha Ray, Zsuzsanna Renner, Claude Jacques and Lokesh Chandra.last_img read more

First Suvidha Train from Gorakhpur to Delhi on July 13

first_imgThe first Suvidha Train will be shown green flagon July 13. It will run between Gorakhpur and Anand Vihar (Delhi). The booking is open from Wednesday. This train will run from July 13 to July 30.The train number 05027 Gorakhpur-Anand Vihar biweekly Suvidha special train will start every Monday and Wednesday from Gorakhpur at 08:55 pm and will reach Anand Vihar next day at  11am. It will have stops at Khalilabad, Basti, Gonda, Lucknow, Muradabad. In the other direction, the train number 05028 Anand Vihar biweekly Suvidha special train will depart every Tuesday and Thursday at 2 pm and will reach Gorakhpur next day at 05:10 am.last_img read more

In The Herd – Dana White Im not talking to Jon Jones

first_img Advertisement UFC President, Dana White has successfully pulled UFC 200 out of its Jon Jones induced nosedive like Sully Sullinger. On Thursday, he announced that Light Heavyweight Champion Daniel Cormier will fight 41 year old UFC legend Anderson Silva on less than short notice at 200. White brokered the last second fight while still reeling from the gut punch of Jon Jones’ positive PED test and removal from the fight just days prior to the biggest event in the history of the sport.White joined The Herd today, and told Colin that after news of the Jones suspension broke, Silva reached out to him and was eager to take the fight.“When I walked off the stage that night with Daniel Cormier, Anderson Silva called me on the phone. And said he wants this fight. I was like, ‘You’re kidding me.’ this is awesome.  If you look at Anderson Silva’s record, undefeated at 205 pounds. Has looked better than he’s ever looked in his career at 205.”When Colin switched the topic to Jon Jones, White’s  disdain for the former champ was palpable. He made it clear he’s sick of dealing with Jones. “I’m not talking to Jon Jones. There’s no reason for us to talk. The guy is a professional. I truly believe, look I’m not the biggest Jon Jones fan right now, but I truly believe that he did take a supplement that had this stuff in it, and it wasn’t intentional. I truly believe that.But at the same time, c’mon. You’re 28 years old, you’re probably the greatest talent to ever set foot in this sport. Right? Call USADA and tell them what supplements you’re taking. You know? You’ve already been through this history of absolute madness. Forget doing this to us, why would you do this to yourself.”It sure doesn’t sound like Dana White and Jon Jones will be getting together for Thanksgiving this year.“I’m not talking to him. There’s no reason for us to talk.” – @danawhite GOES OFF on Jon Jones. #TheHerd— Herd w/Colin Cowherd (@TheHerd) July 8, 2016last_img read more

Why hello there

first_imgCosta Rican President Carlos Alvarado posed for a photo shoot while in France at the invitation of President Emmanuel Macron.Alvarado participated in the Paris Peace Forum at the Villette Conference Hall, a new annual event based on international cooperation and aimed at tackling global challenges and ensuring durable peace. Facebook Comments Related posts:Evangelicals make up quarter of Costa Rica’s new assembly Costa Rica prepares for presidential inauguration in downtown San José PHOTOS: Carlos Alvarado is sworn in as Costa Rica’s 48th president Carlos Alvarado urges global push to end Nicaragua crisislast_img read more

Australians flocking to Switzerland

first_imgAnil (Swiss Air), Rayomand (Titlis Rotair), Mark (Luzern Tourism), Evelyn (Switzerland Tourism), Richard (Rail Europe), Francois (Lake Geneva Region Tourism), Daniela (Jungfrau), Markus (Swiss Consulate General) Australian visitor numbers to Switzerland in January 2011 were up 13.4 per cent on the year before, as more and more Aussie travellers discover the delights of the central European nation. Speaking at an exclusive lunch held at the private residence of the Swiss Consulate General yesterday, Switzerland Tourism Australia and New Zealand director, Evelyn Lafone, pointed to many reasons for the growth in numbers from Australia. “We opened a marketing office in Sydney [in] June last year, focusing on promoting the Swiss summer and winter seasons, as well as the major cities,” Ms Lafone said. “Also the Australian dollar is extremely favourable against the Franc at the moment, making Switzerland better value than ever.” Echoing this sentiment was the Titlis Rotair regional director of sales, Rayomand Choksi, who said that business from Australia had grown “two-fold in the past four years”. “With the exception of Japan and Korea, Mt Titlis is the number one mountain destination for Asian travellers … and we are confident that our success in Asia can be replicated here [Australia]” Mr Choksi told e-Travel Blackboard. “We are very successful with the younger generation in Australia, especially now through Contiki.” Lake Geneva Region’s vice president and marketing director, Francois Michel, told e-Travel Blackboard that Australian travellers to the Lake Geneva region usually stayed an ideal three to four nights, longer than tourists from other parts of the world. “Lake Geneva is often called a small piece of Switzerland because you have everything here … and it is year-round destination,” Mr Michel said. Mr Michel also alluded to the increase in the number of bed and breakfasts opening in the region. “20 years ago they didn’t exist,” Mr Michel said. Jungfrau director of sales, Daniela Fuchs, said that there were a lot of younger people from Australia coming to the region, telling e-Travel Blackboard that the Jungfrau was now the “mecca of Europe, in terms of outdoor activities”. “We will also be celebrating the centenary of the Jungfraujoch on 1 August next year, which is the Swiss National Day,” Ms Fuchs said. Following the formalities, guests of yesterday’s event, including Swiss Consulate General Markus Meli, were treated to a Swiss buffet lunch prepared by top Swiss-Italian restaurant Bei Amici.Click here to view photos from the Switzerland roadshow Source = e-Travel Blackboard: M.Hlast_img read more

Congressman to Introduce Bill to Prevent Pay Increase for CEOs of GSEs

first_img May 6, 2015 498 Views Fannie Mae Freddie Mac The Federal Housing Finance Agency 2015-05-06 Seth Welborn Congressman to Introduce Bill to Prevent Pay Increase for CEOs of GSEs U.S. Congressman Ed Royce (R-California) has announced that he plans to submit legislation by the end of the week to prevent a potential pay increase for Freddie Mac CEO Donald Layton and Fannie Mae CEO Timothy Mayopoulos.The Federal Housing Finance Agency (FHFA) has given Freddie Mac and its fellow GSE, Fannie Mae, authorization to review the salaries of their respective CEOs, Layton and Timothy Mayopoulos. Both CEOs made $600,000 each without bonuses in 2014. The pay reviews for the top executives at the GSEs are largely due to concerns that the Enterprises will not be able to stay competitive because their CEOs make less than some lower-ranked executives.Earlier this week, FHFA director Mel Watt directed Freddie Mac to submit a proposed executive compensation for the CEO position that could be as high as $7.26 million a year, the 25th percentile of the market.Royce said in a statement on his website that it is “unconscionable” that Freddie Mac would elevate the pay of its CEO to that level while taxpayers are still on the hook. The fact that the GSEs are still under conservatorship of the FHFA, where they have been since September 2008, is still a contentious one among politicians and stakeholders in the housing market.Nearly seven years ago, Fannie Mae and Freddie Mac needed a combined $187.5 billion taxpayer bailout to continue operations. They returned to profitability in 2012, but their future profitability remains in doubt; just last week, a stress test administered by the FHFA revealed that the GSEs would need a bailout of up to $157 billion when certain hypothetical adverse economic conditions were applied.”At a time when American families are still struggling to find their footing financially, it is absolutely unconscionable that regulators would allow the taxpayer-bailed out Freddie Mac to pay its CEO over $7 million dollars a year,” Royce said. “Just last week a stress test of the GSEs showed the possibility of a future taxpayer bailout to the tune of $150 billion, yet FHFA appears to be pursuing the pre-crisis model of private gains and public losses. We can’t simply put the blinders on and say the GSEs are just like other companies. We need to move towards a model that allows the private sector to compete on a level-playing field, not one where Fannie and Freddie act like the private corporations with taxpayers on the hook for losses. In the interim, I will be introducing legislation to block this potential hike in CEO pay.”center_img in Daily Dose, Featured, Government, News Sharelast_img read more