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The threat from a looming wave of maturing commercial real estate loans has been well telegraphed to investors, but it's possible the metrics they are using to protect themselves from risk are flawed. Many investors have been avoiding bank stocks with high concentrations of commercial real estate (CRE) exposure. Investors have been punishing regional bank stocks, especially when the bank's commercial real estate exposure tops more than 300% of its total equity . While the latter two have some exposure to New York City real estate, both banks benefit from strong management teams, he said. (New York real estate markets are navigating both falling office values as well as the dynamics of rent-regulated multifamily properties.)
Persons: Erika Najarian, Stephens, Matt Breese, Breese, Webster, Najarian, Piper Sandler, Scott Siefers, Siefers, generalists Organizations: Owners, KBW, Regional Banking, UBS, Federal Deposit Insurance Corp, Federal Reserve, Kansas City Fed, NBT Bancorp, Webster, National Bancorp, Micron Technology, Financial Group, Citizens Locations: New York City, York, . Connecticut, New, New York, Providence, R.I
Pharmacy startups like Capsule and Truepill are crumbling in the fight against pharmacy giants. But in the past year, the pharmacy startups have begun to crumble. Plus, each chain has thousands of stores across the country, providing the convenience that the pharmacy startups seek to replicate with tech. The digital-pharmacy shakeoutAnalysts suggested that healthcare startups with pharmacy components, rather than pure-play pharmacy startups, are best positioned to succeed. Truepill CEO Sid Viswanathan TruepillBut the pharmacy startups that have attempted to offer additional services have largely shelved those efforts in recent months.
Insiders in the banking sector snapped up shares of their own companies in what could be a show of faith as the unfolding crisis sent stocks sharply lower. The collapse of Silicon Valley Bank, Signature Bank and Silvergate Capital prompted regulators to provide emergency rescue actions that calmed immediate funding concerns. Stephens Bank said about 40% of banks in its coverage have disclosed insider purchases since March 6. A total of 11 insiders at Valley National Bancorp bought shares in the past two weeks, including purchases by its CEO and several directors. PacWest shares have rebounded 9% this week, but are still down 63% this month.
Dec 14 (Reuters) - Oregon Governor Kate Brown, who leaves office at the beginning of the year, has commuted the death sentences of all 17 inmates facing capital punishment in the state, leaving them to serve life in prison without the possibility of parole. The Democrat said she decided to use her executive clemency powers to commute the sentences because she believes capital punishment is immoral. Legal and ethical questions have swirled around capital punishment in the United States in recent years as states have found it difficult to procure drugs to carry out the death penalty. Nine years later, the state's department of corrections closed its death row and reassigned condemned inmates to special or general population housing units. Due to the COVID-19 pandemic and policy changes, the number of executions in 2021 fell to 11, the fewest since 1988.
CNN —Gary Strieker had every reason to be a pessimist. Gary Strieker, who passed away in July 2022, helped establish CNN's presence in Africa. Courtesy Strieker family Born in the tiny Illinois farm town of Breese in 1944, Gary Gerard Strieker moved to San Diego, California at a young age. Courtesy Strieker family Strieker is remembered by his family and colleagues as a quiet, humble man who never lost his optimistic spirit or tireless energy for making the world a better place. Courtesy Strieker family Strieker was the network's only correspondent on the African continent for some time, covering the AIDs epidemic in the 1980s and other major moments in history, including the 1994 genocide in Rwanda.
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