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SAN FRANCISCO (AP) — California cities and counties still don't know how much they'll have to pay for Gov. Gavin Newsom's pandemic program to house homeless people in hotel rooms after the Federal Emergency Management Agency said in October that it was limiting the number of days eligible for reimbursement. Homeless advocates heralded it as a novel way to safeguard residents who could not stay at home to reduce virus transmission. FEMA agreed to pay 75% of the cost, later increasing that to full reimbursement. Robert J. Fenton, the regional administrator for California who wrote the October letter, told CalMatters, which was first to report on the discrepancy last week, that the policy was not new.

Persons: Newsom's, —, Gavin Newsom, ” Newsom, Robert J, Fenton, CalMatters, ”, Brian Ferguson, Cal OES Organizations: FRANCISCO, —, Gov, Federal Emergency Management Agency, FEMA, Emergency Services, Associated Press, Cal Locations: — California, California

LOS ANGELES (AP) — The first of two back-to-back atmospheric rivers drenched Northern California on Thursday, flooding roads while triggering statewide storm preparations and calls for people to get ready for powerful downpours, heavy snow and damaging winds. Forecasters also said the Central Coast could see waves up to 18 feet (5.4 meters) high on Thursday and Friday. The storm came a week after heavy rain caused flooding that inundated homes and overturned cars in the county. Last winter, California was battered by numerous drought-busting atmospheric rivers that unleashed extensive flooding, big waves that hammered shoreline communities and extraordinary snowfall that crushed buildings. ___Associated Press journalists Nic Coury in Capitola, California, and Scott Sonner in Reno, Nevada, contributed to this report.

Persons: Brian Ferguson, Cal OES, ” Ferguson, Joshua Whitby, “ There’s, ” Whitby, Daniel Swain, Swain, Snow, Nic Coury, Scott Sonner Organizations: ANGELES, San, San Francisco Bay Area, National Weather Service, Bay, Service, California Governor’s, Emergency Services, University of California, Yosemite National, Associated Locations: Northern California, San Francisco Bay, Coast, Central, Pacifica, San Mateo County, Humboldt County, Eureka, San Diego County, Hawaii, California, Oregon, San Diego, Capitola, Monterey Bay, Los Angeles, Sierra Nevada, Sierra, Lake Tahoe, Yosemite, Reno , Nevada, Capitola , California

☆ A value fund manager who's beaten 99% of his peers in the last three years explains how he avoids bad investments — and makes the case for 3 stocks he loves heading into 2024
▼ + stars: | 2023-11-05 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The 31-year market veteran has achieved enviable results since the start of 2005 while running the BNY Mellon Dynamic Value Fund (DAGVX) alongside co-manager Brian Ferguson. How to invest — and common mistakes to avoidLike all value fund managers, Bailer refuses to overpay for stocks — regardless of how enticing their businesses look. "It's a philosophy that's based on looking for stocks with great valuations, but not stopping with great valuations," Bailer said. Companies in the BNY Mellon Dynamic Value Fund must have both quality fundamentals and improving business momentum, Bailer said. The six largest stocks in the BNY Mellon Dynamic Value Fund were in one of two sectors, as of September 30: financials and healthcare.

Persons: John Bailer, Brian Ferguson, it's, Bailer, we've, headwinds, they've, he's, Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger Organizations: Value Fund, Companies, Value, Firms, Berkshire, JPMorgan Locations: Berkshire

CNN —Hurricane Hilary is expected to slam into Southern California on Sunday as a rare tropical storm, unleashing floods, fierce winds and heavy downpours as residents evacuate, parks and beaches close and first responders brace for water rescues. Although Hilary is forecast to move north from Baja California into Southern California Sunday afternoon, its impacts will be felt earlier. First responders have also pre-positioned to respond quickly and perform water rescues from flooded areas, state officials said. There are “more than 7,500 boots on the ground” already deployed to help protect from the impact of Hurricane Hilary, according to the release from Newsom’s office. “There will be power outages across Southern California,” Ward said.

Persons: Hilary, it’ll, Gavin Newsom, “, ” Newsom, Cabo San Quintin –, Hilary “, we’ve, ”, Nancy Ward, Angelus Oaks, Brian Ferguson, Hurricane, ” Ward, – Organizations: CNN, National Hurricane Center, . California Gov, Cabo San Quintin, Southern California Sunday, California Governor’s, Emergency Services, National Oceanic, Atmospheric Administration, Residents, Home, Saturday, Visitors, Los, Los Angeles County Sheriff’s, National Weather Service, Silverado, Electricity, Southern California Edison, US Navy, Major League Baseball, Foxes, Hollywood Locations: Southern California, San Diego, California, Mexico, Punta Abreojos, Cabo, Baja California, California , Nevada, Arizona, Los Angeles, San Bernardino County, Oak Glen, Forest Falls, Northeast, Catalina, California’s, City of Avalon, Los Angeles County, Colorado, , California, Orange County, Orange, Angeles County

☆ An earthquake destroyed their California home days before Christmas. They still have to pay the mortgage
▼ + stars: | 2023-07-02 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +14 min

A 6.4 magnitude earthquake had just struck Rio Dell, California, upending homes and lives for the community of 3,400 people near Oregon. “It’s a gamble to not have it,” Rio Dell City Manager Kyle Knopp said. A whopping 90% of homes in California aren’t covered by earthquake insurance, according to Glenn Pomeroy, CEO of the California Earthquake Authority, a nonprofit quake insurer established by the state. Gavin Newsom proclaimed an emergency for Humboldt County, where Rio Dell is located, in part to help local governments access services. Despite seeing how costly earthquake damage can be, she doubts she’ll buy earthquake insurance for her next home.

Persons: CNN —, Jacqui McIntosh, Rio, McIntosh, ”, unlivable, “ It’s, Fred Greaves, “, Kyle Knopp, Glenn Pomeroy, ” Brian Ferguson, Knopp, ” Knopp, Randy Jensen, ” Jensen, Jensen, Jane Tyska, ” Pomeroy, that’s, Pomeroy, Gavin Newsom, Michelle Bushnell, Bushnell, it’s, Keith Porter, Kent Porter, Bolt, Porter, ” Porter, ‘, Alyssa Jorgensen, Jorgensen, didn’t, ” McIntosh Organizations: CNN, Dell, California Earthquake Authority, California Governor’s, Emergency Services, Mendocino Triple Junction, FEMA, Rio Dell, Reuters, Rio Dell Water, Media, East Bay Times, San, Small Business Administration, Institute, The Press Democrat, Mitigation, retrofits, Earthquake, California Earthquake Locations: Rio Dell , California, Oregon, Rio Dell, California, It’s, Mendocino, Cape Mendocino, Northern California, Montecito, Beverly Hills, Malibu, Rio, Humboldt County

☆ Communities near California's reformed Tulare Lake are unlikely to flood this year, officials say
▼ + stars: | 2023-05-23 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

California officials Monday said communities near Tulare Lake will likely not experience drastic flooding this year as weather conditions improve following a series of powerful atmospheric river storms that refilled the basin. Several weeks ago, scientists and officials had warned of worsening floods in the Central Valley due to a large amount of snowpack from the Sierra Nevada melting and sending more water into the basin. The forecasting prompted concerns over potential levee breaches and displacement of residents in communities such as Corcoran and Stratford. However, officials said they no longer expect those communities to flood due in part to state efforts to raise levees and farmers' work to divert more water for irrigation. Gavin Newsom said the state would spend $17 million to bolster the levees protecting Corcoran from floods.

☆ Crypto is either dead in the water or about to notch new records as soon as next year - it depends on who you ask
▼ + stars: | 2023-04-25 | by ( Max Adams | ) www.businessinsider.com time to read: +6 min

You can scroll a bit further down for the market's reaction to the stunning Tucker Carlson announcement, but for today, we're turning our attention to crypto. If you ask Chamath Palihapitiya, that's because crypto crossed the wrong people and now it's dead, at least in the US. While crypto may be "dead in America," bitcoin is still going to $100,000. The housing market is close to bottoming and that could stave off a bad recession. That's according to Morgan Stanley, which wrote in a research note that housing is linked to broader business cycles.

☆ A fund manager who beat 95% of competitors in the last 2 years explains how he finds 'tremendous opportunities' for value creation and returns amid today's volatile stock market
▼ + stars: | 2023-04-24 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +3 min

Companies with healthy balance sheets and access to low or no-cost funding are likely to outperform. Ferguson is a fund manager for the BNY Mellon Dynamic Value Fund at Newton Investment Management. Across all sectors, Ferguson believes that companies with strong balance sheets and good liquidity will widely outperform their peers, especially in the face of a looming economic slowdown. Strong balance sheets in particular can help businesses endure turbulent times, since companies aren't forced to issue — and eventually pay back — a lot of high-cost debt. Likewise, Ferguson is currently bullish on the energy sector due to its incredibly strong balance sheets and focus on return of capital versus growth.

☆ Rain blamed for 17 deaths in California, a state primed for very different natural disasters
▼ + stars: | 2023-01-11 | by ( Tim Stelloh | Tim Stelloh Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

The deaths have been reported across the state — from San Bernardino County in the south to Mendocino County in the north, according to the California Governor’s Office of Emergency Services. The 1990s was possibly the last time California had this much rain at once, he said. Josh Edelson / AFP - Getty ImagesAnother 34,000 people remained under evacuation orders across the state, Newsom said Tuesday. The parent was rescued, but the boy vanished in surging floodwaters, county sheriff’s spokesman Tony Cipolla said. The sheriff’s office resumed a search Tuesday morning after “extreme” weather hampered the effort Monday, Cipolla said.

☆ The December jobs report sent mixed signals. Here's what it means for markets.
▼ + stars: | 2023-01-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The December jobs report is another data point that signals the Fed has more work to do to cool the economy. "A labor market this strong means an imminent recession is highly improbable," Indeed Hiring Lab economist Nick Bunker wrote in a note. While stocks usually sell off after these strong reports, fearing the worst from the Fed, Friday saw a strong rally. History suggests there are very strong odds the stock market gains 20% this year after last year's bludgeoning. Tesla stock has tumbled to multiyear lows.

☆ Two fund managers who were the toast of Wall Street in 2022 told us how they've built a working 25-year partnership and consistently won at stock picking
▼ + stars: | 2023-01-05 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

BNY Mellon mutual fund managers John Bailer and Brian Ferguson belong in the second camp. Over time they started to collaborate more closely thanks to their shared approach to value stocks. In time, the two began working together on coverage of large cap value stocks as well. Bailer has run the Income Stock Fund since the end of 2011. The Income Stock Fund has one additional criterion: the fund prioritizes dividends that are at least 50% greater than the yield of the average S&P 500 company.

☆ The managers of two of the best stock funds of 2022 told us about the 3 highest-conviction names in their portfolios
▼ + stars: | 2022-12-23 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Together, they run two of the highest-returning stock funds of 2022. BNY Mellon fund managers John Bailer and Brian Ferguson have done well at avoiding those sorts of traps. Bailer runs a dividend-focused stock fund that's returned 12% a year for investors over the last decade and earned a four-star rating, according to Morningstar. In a joint interview, Bailer and Ferguson told Insider about a couple of current favorites from across their portfolios. (3) Berkshire Hathaway (BRK.A)Warren Buffett is a legendary value investors himself, of course, and his Berkshire Hathaway conglomerate is a favorite for a lot of investors.

☆ Focusing on fundamentals helped these two BNY Mellon funds outperform in 2022
▼ + stars: | 2022-12-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

John Bailer and Brian Ferguson don't chase growth stocks. And that's an approach that's helped their five- and four-star-rated mutual funds beat this year's market rout. "What I'm talking about is a focus back on fundamentals in the market," said Bailer, a portfolio manager at Newton Investment Management, a subsidiary of BNY Mellon. In nearly two decades, the managers delivered roughly 300 basis points in alpha to investors, Bailer said. "With these high oil prices, good refining margins, they've been able to build a lot of cash," Bailer said.

☆ As climate change makes wildfires worse, FEMA faced with calls to change
▼ + stars: | 2022-12-19 | by ( Sharon Bernstein | ) www.reuters.com time to read: +6 min

Building at the bottom of a hill would keep the station from experiencing the worst fires, which tend to run uphill. But Mayor Chris Rogers says the Federal Emergency Management Agency (FEMA) denied funding in part due to rules designed to protect infrastructure harmed in storms from flood damage, saying the proposed new location was in a flood zone. Devastating fires in Santa Rosa and communities elsewhere in California led survivors to press for changes in the way the agency handles wildfires. In Santa Rosa, a midsized city about 55 miles north of San Francisco, the Tubbs Fire in 2017 raced through established suburban areas, jumping six lanes of highway, destroying homes. But without help from FEMA, it has taken a while to put together rebuilding resources, Rogers said.

Khorry Ramey entered the state prison in Bonne Terre, Missouri, on Tuesday morning to visit her father, Kevin Johnson, for a final time. Khorry Ramey with her father, Kevin Johnson, and her son, Kiaus. While she could not be inside the prison, Johnson's witnesses included his spiritual adviser, the Rev. Khorry Ramey and her father, Kevin Johnson. Kevin Johnson at the courthouse in Clayton, Mo., in 2007.

The execution of a Black death row inmate can proceed Tuesday evening after Missouri's highest court rejected a claim that the case was tainted by racial bias and determined the claim would most likely not be successful in legal challenges. The Missouri Supreme Court's decision released late Monday allows the state to continue with its planned execution of Johnson, 37, by lethal injection. Mike Parson, a Republican, said in a statement he would not grant him clemency "for his horrendous and callous crime." Keenan said in a court filing that he also sought a stay in Johnson's execution because the team of prosecutors during his trial has declined to cooperate with his investigation. Johnson was arrested in July 2005 in the fatal shooting of Kirkwood Police Officer William McEntee in suburban St. Louis.

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