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☆ These 28 regional and community banks exceed regulators' threshold for high commercial real estate concentration risk: here's what's really at stake.
▼ + stars: | 2024-03-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.

Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida

☆ 5 ways to help boys cultivate friends and combat loneliness
▼ + stars: | 2024-01-30 | by ( Phyllis L. Fagell | ) edition.cnn.com time to read: +10 min

Like Kaden, many boys want to spend time with friends but lack the skills needed to connect. Here are five ways you can help boys form satisfying friendships to combat loneliness and its damaging effects. Do your boys have individual friends and friend groups? Help boys take social risksFor boys who need logistical help, “Say, ‘I want you to text three people,’” said Christopher Pepper, a teacher who coordinates boys’ groups in San Francisco Public Schools. Help boys read social cuesAt Sterling Hall School in Toronto, teachers facilitate community circles to teach boys how to repair friendships and show empathy, said principal Rick Parsons.

Persons: doesn't, CNN — Lori Oberbroeckling, Kaden, “, ’ ”, Oberbroeckling, ”, Ioakim Boutakidis, we’ve, Janice McCabe, She’s, ” McCabe, Mayur, Mitch Prinstein, Prinstein, Dave Keeler, Christopher Pepper, Ryan Wexelblatt, ” Boutakidis, We’re, Andrew Reiner, ” Prinstein, ‘ I’ve, Katie Hurley, Jed Foundation’s, Sameer Hinduja, Hurley, ‘, Daryl Howard, Howard, “ They’re, Rick Parsons, ’, ” Pepper, Reiner, they’re, ” Phyllis L Organizations: CNN, California State University, Fullerton, New York University, Dartmouth College, Getty, American Psychological Association, San Francisco Public Schools, Pew Research Center, Cyberbullying Research, Florida Atlantic University, Technology, Diversity, Cowboys, Sterling Hall School, Chrysalis Group, “ Locations: Phoenix, College, San, Tucson , Arizona, America, Toronto

President Barack Obama won Florida in 2008 and 2012, but Trump carried the state in 2016 and 2020. AP VoteCast found that Biden won just 54% of the state’s Latino voters in 2020, down substantially from his national average of 63%. For example, Biden won Miami-Dade and Palm Beach counties in 2020, but by lower margins than Hillary Clinton did in 2016. "The assumption that Florida will necessarily be an easy victory for Republicans is questionable.”Both Florida parties have been hit by infighting. The Republicans recently ousted their state party chair, Christian Ziegler, after he got caught up in a sex scandal.

Persons: Joe Biden, Donald Trump, Biden, Barack Obama, Trump, AP VoteCast, Hillary Clinton, Kevin Wagner, Wagner, Ron DeSantis, Christian Ziegler, “, Evan Power, Nikki Fried, Fried, ” Fried, ___ Spencer, Josh Boak Organizations: WASHINGTON, Republican, Trump, Democratic National Committee, Florida, Republicans, Democrats, Senate, AP, Democratic, Miami, Dade, Fort, Bureau of Labor Statistics, Florida Atlantic University, Republican Gov, GOP, Democratic Party, Associated Press Locations: Florida, Trump's, Lago, Miami, U.S, Midwest, Northeast, Palm Beach, Fort Lauderdale, West Palm Beach, Beach, Fort Lauderdale , Florida

☆ Opinion: Why Ron DeSantis turned out to be a loser
▼ + stars: | 2024-01-29 | by ( Opinion Ilene Prusher | ) edition.cnn.com time to read: +8 min

Ron DeSantis was touted as a rising star with a clear path leading to the Republican nomination in 2024 and possibly into the White House itself. DeSantis also championed the policies that Trump voters claimed to want more of, like a hard line on abortion, expanded gun access and removing progressive prosecutors. The thing that DeSantis didn’t have over the billionaire reality TV star-turned-president – Trump’s personality – turned out to be a fatal flaw. Marco Rubio and Rick Scott – were unwilling to lend their support to DeSantis’ flailing campaign, endorsing Trump instead. Or one could look at DeSantis’ charmless offensive and conclude that his presidential ambitions will never be more than that – ambitions.

Persons: ”, “ Donald Trump, Ron DeSantis, Prusher Jordana Miller, DeSantis, –, Joe Biden, Scott Maxwell, “, “ Ron DeSantis ’, Mickey Mouse, ” Ana Navarro, Gary Fineout, Trump, Ron DeSanctimonious, doesn’t bode, Brandon Girod, Democrat Andrew Gillum, Joseph Ladapo, Marco Rubio, Rick Scott –, ’, Hillary Clinton, Barack Obama –, Clinton Organizations: Florida Atlantic University, CNN, New, Florida Gov, Republican, Harvard Law School, Yale University, Trump, Orlando Sentinel, Disney, Business, POLITICO, Florida Republicans, DeSantis, White, Pensacola News, Democrat, Sens, Democratic, Twitter, Facebook Locations: Florida, Iowa, New Hampshire, Miami, POLITICO Florida, Tallahassee, Sunshine

☆ How the 1970s oil crisis created the right turn on red
▼ + stars: | 2024-01-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

New York CNN —In America, traveling through red lights on right turns has become a rule of the road. States introduced it as a gas-savings measure: The theory was that it would reduce idling at red lights. Right-on-red was a gas-savings tool during the 1970s oil crisis. There has been little national research in recent years on the effect of right-on-red turns on pedestrian safety. Banning right on red is not a “panacea for pedestrian safety problems,” Dumbaugh said, but could help prevent pedestrian and car accidents in busy intersections.

Persons: Woody Allen, Hall ”, he’d, Marty Lederhandler, Hyoung Chang, ”, Eric Dumbaugh, Jason Dozier, Bill Clark, RTOR, Banning, ” Dumbaugh, that’s, don’t Organizations: New, New York CNN —, AP, New York City —, Washington D.C, MediaNews, Denver Post, Florida Atlantic University, Atlanta City, Nationwide, Governors Highway Safety Association, Getty, Research, Atlanta, Republican, ” Locations: New York, America, California, Los Angeles, United States, New York City, Connecticut, Atlanta, Denver, Indianapolis, Raleigh, Washington, San Francisco, Indiana

☆ Wall Street and money moved into South Florida, driving up prices. Now some residents want to move out.
▼ + stars: | 2023-10-22 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +10 min

They're looking to nearby smaller cities in South Carolina, North Carolina, Georgia, and Tennessee. They're picking places like Knoxville, Tennessee; Greenville, South Carolina; Huntsville, Alabama; and Asheville, North Carolina; which she collectively refers to as "the Villes." AdvertisementAdvertisementWhy CEOs moved their lives — and their businesses — to FloridaWall Street moved to South Florida in droves in 2020 and 2021. Billionaire hedge-fund CEOs — like Citadel's Ken Griffin — paid record-shattering amounts for South Florida homes , added offices, and moved their businesses there entirely from New York, Chicago, and Silicon Valley. They bought a 2,400-square-foot, four-bedroom home on an acre of land for the same price in Greenville, South Carolina.

Persons: —, There's, Nicole Panesso, Holly Meyer Lucas, Meyer Lucas, Ken Griffin —, Brian Guzman, Guzman, Jonathan Miller, Ken Griffin, PATRICK T, FALLON, It's, Larry Ellison, Miller, Michael Bordenaro, Greg May, Marcia Straub, Keller Williams, Jill Cody, she's, Ryan Wilson, Jami, Alexander Spatari, Jami Wilson Organizations: Service, Sunshine State, Census Bureau, Orlando, Coral, Fort Myers, Florida Wall, Billionaire, Guzman Advisory Partners, Getty, West Palm Beach, Florida Atlantic University, Silicon, Oracle, South, South Florida metros, Fortune, Miami, Homes, Army Locations: Florida, Greenville, Knoxville, South Florida, Chattanooga , Tennessee, South Carolina, North Carolina , Georgia, Tennessee, Knoxville , Tennessee, Greenville , South Carolina, Huntsville , Alabama, Asheville , North Carolina, Realtor.com, Asheville, Miami, Gulf Coast, New York, Chicago, Silicon, West Palm, Fort Lauderdale, Palm Beach, Texas, North Carolina, Greensboro, Fort

☆ Banks report continued pain on commercial real estate loans
▼ + stars: | 2023-10-18 | by ( Matt Tracy | ) www.reuters.com time to read: +4 min

REUTERS/Amr Alfiky/File photo Acquire Licensing RightsOct 18(Reuters) - A number of U.S. banks saw continued pain in the third quarter on delinquent commercial real estate (CRE) loans in their portfolios, as stress in the sector persists. As a result, banks recorded continued provisions for credit losses and charge-offs from the previous quarter, driven by their non-performing (NPL), or delinquent, CRE loans. Borrowers have struggled to refinance their CRE loans as property values have declined and interest costs have risen. Some $20 billion of office commercial mortgage-backed securities, which bundle together individual loans, mature in 2023, according to real estate data provider Trepp. "While overall credit quality remains strong across our portfolio, the pressures we anticipated within the commercial real estate office sector have begun to materialize," PNC Chief Financial Officer Robert Reilly told analysts.

Persons: Amr Alfiky, Cole, that's, Morgan Stanley, Goldman Sachs, JPMorgan, Mayra Rodriguez Valladares, Wells, Robert Reilly, Matt Tracy, Lananh Nguyen, Jonathan Oatis Organizations: REUTERS, Florida Atlantic University, Bank of America, Trepp, Regulators, JPMorgan, Citigroup, PNC, Thomson Locations: New York City, U.S

☆ How Florida became America's 2nd-most-valuable housing market
▼ + stars: | 2023-10-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Florida beat out New York to become the country's second-most-valuable housing market, Zillow said. Of the top six markets that gained the most value since the onset of COVID-19, four are in Florida. The market boom is driven by an influx in new residents putting more demand on the housing stock. Florida welcomed 655,000 new residents since the start of the pandemic, according to Census estimates reported by Insider in March. Stefanie Mortenson traded her life in Virginia for a $159,000 tiny home near Tampa, Florida.

Persons: Zillow, —, Stefanie Mortensen, Stefanie Mortenson, Noelle Lane, Nicole Panesso, There's, David Triana Organizations: Florida, Service, Sunshine, Bloomberg, Florida Atlantic University, Florida International University, Tampa, North, Coral, Lakeland, Cape Coral, Joint Center for Housing Studies, Harvard University Locations: New York, Florida, California, Tampa, Miami, Jacksonville, Orlando, Virginia, Tampa , Florida, North Port, Palm, Gulf Coast, Naples, Cape, Georgia, Tennessee, Nicole Panesso South Florida, Fort Lauderdale, Chattanooga , Tennessee, Clermont , Florida

☆ Florida Turtle Nests Are Doing Great. When They Hatch, Expect Mostly Girls.
▼ + stars: | 2023-09-26 | by ( Elizabeth Anne Brown | ) www.nytimes.com time to read: +1 min

Green sea turtles had an exceptional nesting season on Florida’s beaches in 2023, with volunteers counting more than 74,300 nests, according to preliminary data. That beats the previous record, from 2017, by a staggering 40 percent. “The increase is an explosion” and a welcome surprise, said Simona Ceriani, a research scientist who coordinated the annual survey for the Florida Fish and Wildlife Conservation Commission, the state agency that regulates and manages wildlife. Sea turtles don’t reach sexual maturity until their twenties or thirties, so what Florida is seeing now is very likely the result of conservation measures put in place after green sea turtles were listed under the Endangered Species Act in 1978, Dr. Ceriani said. Those impressive nesting numbers are just “half the story,” according to Jeanette Wyneken, a professor at Florida Atlantic University who has studied nesting sea turtles for more than three decades.

Persons: Simona Ceriani, Ceriani, Jeanette Wyneken Organizations: Florida Fish and Wildlife Conservation Commission, Florida Atlantic University Locations: Florida

The only other U.S. high-speed line is Amtrak's Acela service between Boston and Washington, D.C., which began in 2000. Brightline began planning in 2012. A 2018 partnership with Richard Branson's Virgin Group to rebrand Brightline as Virgin Trains USA quickly soured. According to the lawsuit, Brightline says Virgin “ceased to constitute a brand of international high repute, largely because of matters related to the pandemic." He said Brightline’s accommodations “compare really well to some of the best trains” he’s taken in Europe, where high-speed rail between cities is common.

Persons: Florida's Brightline, It's, Mike Reininger, John Renne, Brightline, ” Renne, Richard Branson's, Virgin “, hasn’t, Eric Flowers, ”, ” Brightline, Reininger, ” Reininger, Robert Barr, You’ve, Barr Organizations: MIAMI, Fortress Investment, West Palm Beach, D.C, Amtrak, Florida Atlantic University's Center for Urban, Environmental Solutions, Miami -, Richard Branson's Virgin Group, Virgin Trains USA, Virgin, Orlando Locations: United States, Miami, Orlando, West Palm, Southern California, Las Vegas, Boston, Washington, Florida, Tampa, Jacksonville, Miami - Orlando, London, U.S, West, County, We’re, Vero, Brightline’s Miami, South, Florida’s, Europe

☆ These 34 real estate markets provide the best value for US homebuyers looking to build long-term equity instead of paying record-high rent
▼ + stars: | 2023-08-30 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Hopeful homebuyers can use price-to-rent ratios to see where the best deals are. Decade-high mortgage rates and a housing market shortage have made homebuying complicated for everyone, and impossible for many. That way, buyers can get an attractive deal and build equity instead of getting caught in a housing market bubble. Below are the 34 such markets, along with the price-to-rent ratio as of July 31, the average price-to-rent ratio since March 2015, and the current premium to that long-term average. Only one city — New Orleans, Louisiana — has a discounted price-to-rent ratio, meaning that the city is especially appealing for buyers right now.

Persons: Ken Johnson, Johnson, Eli Beracha, William Hardin of, Beracha, — New Orleans , Louisiana — Organizations: Florida Atlantic University, Florida International University, Florida Atlantic, William Hardin of Florida International University Locations: West Coast, East Coast, Florida, — New Orleans , Louisiana

☆ A Florida Republican running for Congress says DeSantis may have tanked his own political career in the state by running against Trump
▼ + stars: | 2023-07-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Republican Alan Pincus told WaPo that DeSantis may have tanked his political future in Florida over his 2024 bid. DeSantis once led Trump in earlier Florida surveys of the Republican presidential primary. But Trump has continued to dominate the GOP race and DeSantis has had to reboot his campaign. DeSantis once led in early Florida polling among the GOP presidential contenders. But even in the Sunshine State, he's fallen behind Trump — in a head-to-head contest, the latest Florida Atlantic University/Mainstreet Research survey had Trump leading DeSantis 54%-37%.

Persons: Alan Pincus, WaPo, DeSantis, Trump, Ron DeSantis, Donald Trump, Sen, Tim Scott of, Charlie Crist, Republican Alan Pincus —, —, Pincus, he's, Vivek Ramaswamy Organizations: Trump, Republican, GOP, Service, Democratic Rep, Republicans, Washington Post, Sunshine State, Florida Atlantic University, Mainstreet Locations: Florida, Wall, Silicon, Tim Scott of South Carolina

☆ Homebuyers flocking to Florida have driven cities in the state to become the most overvalued in the US
▼ + stars: | 2023-07-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Florida now contains five of the 10 most overvalued cities in the US, thanks to hoards of newcomers in recent years. Tampa, Florida is now the third most overvalued housing market in the country, with buyers paying a 43% premium. Of the top 10 most overvalued housing markets in the US, five are now located in Florida, according to a recent study from Florida Atlantic University and Florida International University. That's a big jump from August 2021, when Florida had zero cities that cracked the top 10. High mortgage rates have driven up borrowing costs for buyers, while limited housing supply has pushed prices higher.

Persons: —, That's, Ken Johnson, Johnson Organizations: Service, Florida Atlantic University, Florida International University, North, Coral, Lakeland, FAU, Sun, Sunshine State Locations: Florida, Tampa , Florida, America, North Port, Palm, Mississippi, Miami

☆ Why cities want to ban new drive-thrus
▼ + stars: | 2023-06-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Magnets of traffic and congestion, drive-thrus discourage walking, public transit use and visits to neighboring businesses. A host of cities and regions want the sprawl to stop: Atlanta lawmakers will vote this summer on whether to ban new drive-thrus in the popular Beltline area. Minneapolis; Fair Haven, New Jersey; Creve Coeur, Missouri; Orchard Park, New York, and other cities have banned new drive-thrus in recent years. Experts say pedestrian safety can be improved by tightly managing access along arterial roads and locating drive-thrus away from them. Cities push backAtlanta City Councilman Jason Dozier proposed a bill this year to block new drive-thrus around the Atlanta Beltline, a pedestrian trail along a 22-mile railroad corridor.

Persons: Creve, ”, David Dixon, Jack, Wendy’s, Sweetgreen, Taco Bell, Leonard Ortiz, Eric Dumbaugh, David Paul Morris, Dixon, Stantec, Jason Dozier, Dozier’s, “, ” Dozier, Marilyn Nieves, iStockphoto, Levi Thatcher, Charlotte, Keba Samuel Organizations: New, New York CNN, Starbucks, Smithsonian, Companies, MediaNews, Orange, Register, Florida Atlantic University, “, CNN, Bloomberg, Atlanta City, Atlanta, Atlanta Beltline, Sugar House, Sugar, Transportation, Charlotte Planning, Charlotte City Locations: New York, Atlanta, Minneapolis, Fair Haven , New Jersey, Creve Coeur , Missouri, Orchard, , New York, Southern California, Long, Pittsburgh, Mesa , Arizona, “, ”, California, Santa Ana , California, driveways, Atlanta’s, Salt Lake City, Charlotte, WCNC

☆ These are the top 10 cities where Americans are overpaying for houses
▼ + stars: | 2023-06-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The housing market remains tight, and some US cities are seeing homes that are listed more than 40% above their historical value. New data from Florida Atlantic University broke down the most overpriced housing markets in the country. Five of the 10 most overpriced cities are located in Florida. FAU researchers compiled current home price data and compared it to historical trends to find which places Americans were overpaying the most. Below are the 10 most overpriced US cities, with the percentage signifying the premium between current prices and long-term pricing trend.

Persons: —, Ken H, Johnson Organizations: Florida Atlantic University, Service, Florida Atlantic University . Atlanta, FAU Locations: Florida, Atlanta , Georgia, Detroit , Michigan, Tampa , Florida, North Port , Florida, Coral , Florida, Memphis , Tennessee, Lakeland , Florida, Charlotte , North Carolina, Palm Bay , Florida, Winston , North Carolina

☆ Flesh-eating bacteria on beaches: What to know
▼ + stars: | 2023-06-09 | by ( Kristen Rogers | ) edition.cnn.com time to read: +8 min

Out of more than 100 Vibrio species, about 12 — the most common in the US being Vibrio vulnificus, Vibrio parahaemolyticus and Vibrio alginolyticus — can cause a human illness known as vibriosis. Vibrio vulnificus is the species that can cause flesh-eating infections, known as necrotizing fasciitis. Vibrio bacteria can enter through even minor wounds, including cuts, scrapes, scratches, recent piercings, new tattoos or surgical incisions. Even though the risk of a Vibrio vulnificus infection is low, if contracted the effects can be severe. Around 1 in 5 people infected with Vibrio vulnificus die, sometimes within a day or two of getting sick.

Persons: Daniel Slim, Vibrio, vulnificus, it’s, ”, Jae Williams, wasn’t, Tracy Mincer, “, Linda Amaral, Williams, “ It’s, ” Williams, parahaemolyticus, Hurricane Ian, Vibrio vulnificus, Don’t Organizations: CNN, Research, Florida Atlantic University, US Centers for Disease Control, CDC, Florida Department of Health, Florida, Branch Oceanographic Institute, University of Amsterdam Locations: Florida, United States, Africa, Gulf of Mexico, Cancun, AFP, Caribbean, Hurricane, sargassum

☆ A giant seaweed mass heading for Florida's beaches is full of potentially dangerous bacteria that threatens a 'pathogen storm,' a study found
▼ + stars: | 2023-06-03 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +4 min

A giant stretch of Sargassum seaweed is headed toward the beaches of Florida and Mexico. The interplay between plastic marine debris and bacteria could cause a "pathogen storm," a study found. The potentially dangerous Vibrio can stick to the plastic debris that gets caught in the mass of seaweed, the study found in seawater samples from the Caribbean and Sargasso seas. While there are some fears about the bacteria's "flesh-eating" qualities, experts told LiveScience this possibility was relatively uncommon. "What is important is that individuals should take caution," Jae Williams, a spokesperson for the Florida Department of Health, told LiveScience.

Persons: —, Linda Amaral, Andrew, Kofi Jones, Vibrio, Tracy Mincer, Mincer, LiveScience, sargassum, Jae Williams Organizations: Service, NASA, Research, Florida Atlantic University, Royal Netherlands Institute for Sea Research, Florida Department of Health Locations: Florida, Mexico, Sargassum, Caribbean, Lakes, sargassum, St, Barbados

☆ A man destined for Alzheimer's defied that fate. Now scientists want to know how
▼ + stars: | 2023-05-15 | by ( Brenda Goodman | ) edition.cnn.com time to read: +5 min

He seems to have been protected by a rare gene change that enhanced the function of a protein that helps nerve cells communicate. Scientists say that understanding how this gene change defended his brain may help prevent Alzheimer’s in other people. “Another big insight from this case is, it seems like maybe you don’t need this everywhere in the brain,” Arboleda-Velasquez said. This is the pathway that is important for extreme protection against Alzheimer’s,’ ” Arboleda-Velasquez said. The sister of the man in the new study also shared the rare protective gene change, and it helped her, but not as much.

☆ The Link Between Highly Processed Foods and Brain Health
▼ + stars: | 2023-05-04 | by ( Sally Wadyka | ) www.nytimes.com time to read: +2 min

They’re increasingly edging out healthier foods in people’s diets and are widely consumed across socioeconomic groups. “The problem is that in order to make the products taste better and better, manufacturers make them less and less like real food.”What effect do ultraprocessed foods have on mental health? Recent research has demonstrated a link between highly processed foods and low mood. A 2022 study that followed nearly 11,000 Brazilian adults over a decade found a correlation between eating ultraprocessed foods and worse cognitive function (the ability to learn, remember, reason and solve problems). It’s possible that eating a healthy diet may offset the detrimental effects of eating ultraprocessed foods.

☆ Banks are finally admitting they have a problem with billions of dollars in looming real-estate defaults
▼ + stars: | 2023-05-01 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

This earnings season, some major banks bucked tumult in the sector by raking in record revenues and surpassing Wall Street expectations. The bank separately disclosed $725 million of "non-accrual loans" tied to office assets — debts that are already delinquent on payments. That was a nearly fourfold increase in dollar volume of bad office loans over the previous quarter held by the bank. Even some loans tied the nation's robust market for apartment buildings have faltered recently. Anderson said about $760 billion of office loans were held by banks, which amounts to roughly 35% of their commercial-real-estate debt.

☆ Those Seaweed Blobs Headed for Florida? See How Big They Are.
▼ + stars: | 2023-04-19 | by ( Elena Shao | ) www.nytimes.com time to read: +6 min

Scientists say they spotted more than 13 million tons of Sargassum, a yellowish-brown seaweed, drifting in the Atlantic Ocean last month — a record for the month of March. NORTH AMERICA March 2023 Atlantic Ocean The Great Atlantic Sargassum Belt grew to an estimated 13.5 million metric tons of seaweed this spring. Tangles of the goopy, leafy seaweed have already begun to wash ashore beaches in southern Florida and Mexico. Floating mats of seaweed accumulate in the central Atlantic Ocean for much of the year. But during the spring and summer, patches of it are carried by ocean currents toward the Caribbean, eastern Florida and elsewhere along the Gulf Coast.

PALM BEACH, Florida, April 4 (Reuters) - A subdued former President Donald Trump lashed out on Tuesday at New York prosecutor Alvin Bragg for bringing criminal charges against him and declared himself the victim of election interference without offering evidence. "I never thought anything like this could happen in America," Trump told supporters gathered at his Mar-a-Lago home in Palm Beach, Florida. Trump accused Manhattan District Attorney Bragg of being out to get him "before he knew anything about me." "Trump should not be held above the law - if he does something wrong he should be held liable like anybody else. Reporting by Nathan Layne and Rich McKay in Palm Beach; Writing by Steve Holland; Editing by Christian Schmollinger and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Ricardo ArduengoPALM BEACH, Florida, April 4 (Reuters) - A subdued former President Donald Trump lashed out on Tuesday at New York prosecutor Alvin Bragg for bringing criminal charges against him and declared himself the victim of election interference without offering evidence. "I never thought anything like this could happen in America," Trump told supporters gathered at his Mar-a-Lago home in Palm Beach, Florida. Trump accused Manhattan District Attorney Bragg of being out to get him "before he knew anything about me." "Trump should not be held above the law - if he does something wrong he should be held liable like anybody else. Reporting by Nathan Layne and Rich McKay in Palm Beach; Writing by Steve Holland; Editing by Christian Schmollinger and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

San Diego State will play UConn in the NCAA men's basketball national championship game on April 3. ETHow to watch the NCAA national championship game in the USYou can watch the NCAA men's basketball national championship game on CBS or Paramount Plus. If you don't already have access to CBS via antenna or cable TV, Paramount Plus is the cheapest way to watch the NCAA national championship game. How to watch the NCAA national championship game in CanadaThe NCAA men's national championship game will air on TSN networks in Canada; TSN offers monthly streaming passes for $20, four month passes for $49.96, and annual passes for $199.90. How to watch the NCAA national championship game in the UKIn the UK, you can watch the NCAA men's national championship game with ESPN Player, which costs £10 a month or £70 a year.

☆ March Madness shows how NIL money and the transfer portal are starting to reshape the balance of power in college sports
▼ + stars: | 2023-03-31 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +4 min

Nearly two years into NIL, its impact on college sports is starting to show during March Madness. Most of the teams the Final Four — in both men's and women's basketball — have strong NIL backings. Changes to NIL and the transfer portal have created a "perfect storm that's allowed some schools to bank talent," one expert said. LSU's Angel Reese has the most NIL deals of any college baller, Just Women's Sports reported based on data from SponsorUnited, which tracks NIL deals. "The transfer portal and NIL happening at same time, to me, that's the perfect storm that's allowed some schools to bank talent," Dosh said.

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