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Your black plastic kitchen utensils aren’t so toxic after all. But you should still toss them, group saysMore than $225 million allocated to support rural law enforcementThe National Sleep Foundation recommends that adults between the ages of 18 and 64 aim for 7-9 hours of sleep per night. However, this range is just a general guideline and may not be appropriate for everyone. Some individuals may function best with more or less sleep than the recommended amount.
Inspire Faithward Mid Cap Momentum ETF (NYSEARCA:GLRY) Shares Down 1.2% – Should You Sell?
Local Mayor Vows to Resist Trump’s Mass Deportation PlanArsenal moved into second place in the Premier League table with a 1-0 win over Ipswich at the Emirates. In their final fixture of 2024, Kai Havertz scored the only goal of the game midway through the opening period. Arsenal’s victory takes them back to within six points of leaders Liverpool, having played one match more than the Reds, and a point clear of Chelsea following their Boxing Day defeat to Fulham. Ipswich, although much improved in the second half, have now lost five of their last six games, and remain just one place off the bottom of the table, three points away from safety. Mikel Arteta’s men have been rocked by Bukayo Saka’s hamstring injury which could keep the England winger, who has nine goals and 13 assists this season, out of action for the next two months. Gabriel Martinelli was handed the unenviable task of filling Saka’s shoes on Arsenal’s right-hand side and the Brazilian was involved in the only goal of the evening. The Ipswich defence failed to deal with Martinelli’s cross, with the ball falling to Leandro Trossard on the opposite side of the area. Trossard fought his way to the byline before fizzing his cross into the box for Havertz to convert from a matter of yards. It was Havertz’s third goal in four matches, his 12th of the season, and no less than the hosts, who at that stage of the match had enjoyed a staggering 91.4 per cent of the possession, deserved. Heading into Friday’s fixture, Arsenal had lost only one of their last 75 Premier League games when they had opened the scoring, and their triumph here rarely looked in doubt following Havertz’s strike. Havertz thought he had doubled Arsenal’s lead with 34 minutes gone when he converted Gabriel Jesus’ cross. But Jesus – handed his third successive start for the first time in a year – strayed into an offside position in the build-up. When referee Darren England blew for half-time, Ipswich had failed to touch the ball in Arsenal’s box, becoming just the second side to do so in the Premier League this season. Nottingham Forest were the other, away at Liverpool, before they went on to inflict Arne Slot’s sole defeat of his tenure so far. And for all of Arsenal’s possession, while they held just a one-goal advantage, Ipswich knew they were still in the game. An encouraging start to the second half for the Tractor Boys ensued, albeit without testing David Raya in the Arsenal goal. Shortly after the hour mark, Gabriel should have settled any growing Emirates nerves when he arrived unmarked to Declan Rice’s corner, but the defender headed wide of Arijanet Muric’s post when it looked easier to score. Martin Odegaard then forced a fine fingertip save from Muric at his near post after a mazy run and shot from the Arsenal skipper. Rice’s stinging goal-bound volley from the following corner was blocked by Dara O’Shea as Arsenal pushed for a game-killing second. Havertz should have tapped home Trossard’s header but he fluffed his lines. And moments later, substitute Mikel Merino’s effort was diverted from danger by a diving Muric. Ipswich looked to catch Arsenal on the counter, but the match ended without them registering a single effort on Raya’s goal. Ipswich fans goaded their opponents with chants of “boring, boring Arsenal”, but it was the Gunners who enjoyed the last laugh as they saw out 2024 with a win which keeps the pressure on Liverpool.
Sampath Bank secures top honours at Best Corporate Citizen Awards
As Reed aptly summarized, "It was a tough match, but everyone did well. We will keep fighting, keep believing, and keep pushing ourselves to achieve great things."49ers QB Brock Purdy, DE Nick Bosa out, Brandon Allen to start at Green BayMany stocks performed well in 2024, but none better than those powered by artificial intelligence (AI). The technology fueled the bull market this year, with a few dozen stocks powering the S&P 500 ( ^GSPC -1.11% ) to a roughly 27.5% gain (as of Dec. 26). After such a phenomenal run, many popular AI names are expensive, with investors betting that these companies continue to grow at high rates and that their markets only get bigger. A good AI play trading at a reasonable multiple is a rarity these days. However, just a few weeks ago, a new AI stock joined the Nasdaq and could become a Wall Street darling in 2025. Better yet, it doesn't trade at an astronomic valuation. Back in the mix AI infrastructure company Nebius Group ( NBIS -3.46% ) got back in the mix a few months ago when the company rejoined the Nasdaq exchange after a three-year hiatus. The Russian company Yandex previously owned Nebius. After Russia invaded Ukraine, the U.S. imposed sanctions on companies linked to Russia. However, earlier this year, Yandex split off its international assets in a $5.4 billion deal. Four AI businesses split off from Yandex and into the Amsterdam-based Nebius company, including cloud, data labeling, edtech, and autonomous vehicles. Nebius essentially offers AI-as-a-service, providing companies and developers building AI models with access to graphics processing unit (GPU) clusters and a cloud platform. AI is expensive to build internally, but is becoming a technology that most businesses can't ignore if they want to stay relative. For instance, ServiceNow used Nebius to increase throughput on their conversational chatbot from 400 evaluation tasks per week to as many as 3,000 tasks a day. Nebius got a huge endorsement when it closed a $700 million private financing that included the large venture capital firm Accel and AI chip king Nvidia . Nebius has a special partnership with Nvidia, and its website says its customers will be the first to access Nvidia's new Blackwell chips. There has already been some excitement about the stock. Nebius came back onto the Nasdaq at $20 in late October, and shares are up over 41% since. Becoming the next AI darling Nebius got another big endorsement from Citron Research's Andrew Left, who said Wall Street has yet to catch on to Nebius' appeal. No analysts cover the stock, which isn't a huge surprise because it only returned to the Nasdaq a few months ago, and it can take analysts a long time to create and publish an initiation report. The company's financials are attractive. In its most recent quarter, Nebius grew revenue by 766% year over year and trimmed its losses by 45%. Nebius also has nearly $2.3 billion of cash and cash equivalents and very little debt. The company is investing $1 billion in GPU clusters in Paris and also doing a major expansion to its data center in Finland. Management expects the company's annualized revenue run rate to increase to the range of $750 million to $1 billion by the end of 2025. Nvidia shares trade at 47 times forward earnings , which isn't exactly unique in AI these days. While Nebius isn't a competitor and leverages Nvidia's chips, the company is expected to turn profitable next year and trades below 8 times forward earnings. Considering the projected growth of revenue and earnings and its growing market, this is a bargain. Left compares Nebius to Coreweave , a similar AI infrastructure company rumored to soon go public at a $35 billion valuation. Nebius has a roughly $6.7 billion market cap right now. The official announcement of Coreweave's IPO and ensuing registration statement could help better define the market for Nebius. Nebius is also likely still tricky for investors due to geopolitical events in recent years and its ties to Russia. However, investments from Accel and Nvidia are an important sign of legitimacy, and it's hard to find a quality name like Nebius trading at valuations this low.
In a quaint rural village nestled amidst lush greenery and tranquility, a perplexing incident has stirred up a storm of conflicting opinions among its residents. The incident revolves around the mysterious arrival of a lost female master's graduate, and the varied accounts provided by the villagers regarding her reception. As the truth remains shrouded in ambiguity, it is imperative to delve deeper into the intricacies of the situation to uncover the underlying realities.In the age of social media and digital influencers, where beauty standards are constantly evolving and being redefined, the photo of Zhang Baizhi and Yang Zi serves as a reminder that beauty is not restricted to one particular aesthetic or image. It is a multifaceted and inclusive concept that encompasses a wide range of expressions, styles, and personalities. As these two talented actresses demonstrate, true beauty lies in diversity, individuality, and the courage to be authentically oneself.
PLAINS, Ga. — Jimmy Carter, the 39th President of the United States and a Nobel Peace Prize winner whose post-White House life was steeped in fighting for human rights and personally helping build homes through Habitat for Humanity, has died. He was 100. Carter passed away Sunday afternoon in Plains, Georgia, The Carter Center announced . The organization shared in Feb. 2023 that the former president had entered home hospice care. A few months later, the family shared that former first lady Rosalynn Carter was diagnosed with dementia. She passed away in November 2023. While family members have since shared they didn’t expect the former president to go on much longer after Rosalynn’s death, Carter defied expectations and on Oct. 1 became the first U.S. president to live a full century. James Earl Carter, Jr. was born in Plains, Georgia, on Oct. 1, 1924. Peanut farming and devotion to the Baptist Church were mainstays of his upbringing. After graduating from the Naval Academy in 1946, Carter went on to marry Rosalynn Smith. After he served seven years as a naval officer, Carter returned to Plains. He first entered the political world in 1962, serving two terms in the Georgia state senate. Eight years later, Carter was elected governor of Georgia, and held that office from 1971 to 1975. Carter was the Democratic nominee for president in 1976 and went on to defeat incumbent Pres. Gerald Ford in the general election, 297 electoral votes to 240. Carter is the last Democratic presidential nominee to win the states of Alabama, Mississippi and Texas. “I would hope that the nations of the world might say that we had built a lasting peace, based not on weapons of war, but on international policies that reflect our own most precious values,” Carter said in his inaugural address. Among his accomplishments in the Oval Office, Carter helped calm tensions in the Middle East as he facilitated the Camp David Accords, signed by Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin in 1978. Carter also created two new cabinet-level departments – the Department of Energy and the Department of Education. But there were controversies, particularly in the final 14 months of his presidency. The Iran Hostage Crisis saw 66 American diplomats and citizens held hostage in the U.S. Embassy in Iran. In an attempt to free the hostages, Carter ordered a military operation that failed, killing eight American servicemen. After 444 days, the hostages were freed on January 20, 1981 -- the day Carter's successor, Ronald Reagan, took office. Carter also ordered a U.S. boycott of the 1980 Summer Olympic Games in Moscow to protest the Soviet Union invading Afghanistan. Sixty other nations also boycotted. The Soviets would return the gesture by boycotting the 1984 Olympics in Los Angeles. Carter lost a bid for a second term to Reagan in what was both an electoral vote and popular vote landslide . After leaving Washington, Carter’s spent his time advancing human rights around the world. In 1982, he established The Carter Center in Atlanta. “I’ve been humbled to get to know people around the world and to see that, in effect, all people on earth are the same in the eyes of God, and should be the same in the eyes of each other – worthy of respect, care and love,” Carter said. His work abroad won him the 2002 Nobel Peace Prize. Carter also continued to give back at home through his involvement with Habitat for Humanity. He also taught Sunday school and was a deacon at the Maranatha Baptist Church of Plains. "We can choose to alleviate suffering. We can choose to work together for peace. We can make these changes — and we must," Carter once said. Carter holds the distinction of living longer than any other former president. He and wife, Rosalynn, also hold the record of the longest-married couple in presidential history – with the couple celebrating their 77th wedding anniversary on July 7, 2023. Carter is survived by three sons, one daughter, 11 grandchildren and 14 great-grandchildren. Next up in 5 Example video title will go here for this video Next up in 5 Example video title will go here for this video
The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk’s news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity. Read MoreBLOOMINGTON — Nearly half an hour into the first game of their existence, the Bloomington Bison found themselves trailing 2-0. After five years without professional hockey in the Twin Cities, as the new ECHL team kicked off its inaugural run with a lone preseason game, questions hung in the air. What does hockey mean to Bloomington-Normal? And what does Bloomington-Normal mean for hockey? The Bison's ownership group, Hallett Sports & Entertainment, also owns the Indy Fuel, a well-established ECHL franchise with a decade under its belt in the Indianapolis area to solidify its fanbase and space in the community. Bloomington Bison forward Chongmin Lee (77) looks at a video replay during a break in play against the Toledo Walleye on Saturday, Dec. 14, 2024, at Grossinger Motors Arena. Bloomington, on the other hand, has had four different hockey organizations at Grossinger Motors Arena since it opened in 2006. The USHL Central Illinois Flying Aces were the most recent, but they were not at the highest level of play hosted by the venue. That distinction belonged to the defunct Bloomington Thunder of the SPHL, a professional ice hockey independent minor league a step below the ECHL with no NHL affiliate organizations. While a preseason game generally means little to the overall outlook of an organization, uncertainty gnawed at the hockey fans who remembered welcoming other teams — and bidding them farewell. Some wondered whether the Bison, offering the highest level of professional sport seen in the Twin Cities, would succeed. Could they? Suddenly, lightning flashed. Someone wearing a white Bison sweater with the number 77 on his back flew up the wing into the offensive zone — a two-on-one break — snapped a wrist shot and breathed life into the fanbase with the team's first-ever goal. Chongmin Lee, a 25-year-old forward from South Korea, skated to center ice, hugged his teammates and absorbed the joyful noise of the crowd. The moment's significance was not lost on him. "I want people to know that everything we do achieve, it's going to be the history of the Bloomington Bison," he said in a recent interview. Less than three months after that first game, Lee's contributions have continued to drive the team's early successes. Heading into Saturday night's home game against the Kalamazoo Wings, he and captain Eddie Matsushima tied for the highest-scoring players with 19 points each. Lee also led the team in assists with 15 and was among a handful of Bison who had played in all 26 games. Nearing the midpoint of the season, Lee spoke with a Pantagraph reporter inside the locker room at Grossinger Motors Arena after a recent practice. Bloomington Bison forward Chongmin Lee (77) tries to regain control of the puck from Toledo Walleye's Mitchell Lewandowski (67) in the first period on Saturday, Oct. 19, 2024, at Grossinger Motors Arena. He was barefoot, wearing shorts and a T-shirt. A large bag of ice, taped around his right thigh, slowly melted onto the floor as Lee talked about growing up with hockey, moving across oceans to pursue his passion and working toward his hopes for the Bison and their host city. "It's really special, for sure ... Everything we do, everything we accomplish, it's just history," he said. "So, yeah, I really appreciate it. And I want to make this year special for myself and for the team." Building a team In January, the ECHL — a professional developmental hockey league equivalent to AA in minor league baseball — accepted Hallett Sports & Entertainment's application for an expansion team in Bloomington. That team would become the 29th in the ECHL, which serves as a proving ground for some players on their way to the higher American Hockey League and National Hockey League. Later in May, the New York Rangers were announced as the Bison's primary NHL affiliate, and Phillip Barski was named head coach and general manager for the 2024-2025 season. (The Carolina Hurricanes also later announced a working agreement with the Bison.) Bloomington Bison forward Chongmin Lee (77) speaks with captain Eddie Matsushima (15) after the team scored a goal against the Iowa Heartlanders on Wednesday, Nov. 27, 2024, at Grossinger Motors Arena. Filling the roster was the first item on Barski's to-do list. "It's a very big undertaking, you know," he said. In other professional sports leagues, the addition of one or more new teams coincides with an expansion draft. Existing teams will select a number of players to "protect" from the draft, and the new teams can build a roster from the "unprotected" players. Most recently, the NHL held an expansion draft in 2021 when the Seattle Kraken were formed. The ECHL is a different story, though. "There's no expansion draft here," Barski said. Building a team meant marketing Bloomington-Normal to prospective players, many of whom had never been to Central Illinois. "It was very challenging to recruit this team because nobody knew anything about Bloomington," Barksi said. "They didn't know where Bloomington, Illinois, was." At the start of 2024 , Lee was playing for HL Anyang in the Asia League in South Korea. A friend from their national team had an advantageous connection, Lee said. "My buddy from (our) national team, he had an awesome agent. I asked him, 'Can I talk to him?' ... I said I'm interested in going to the ECHL. And he said he will work on it," Lee said. Bloomington Bison forward Chongmin Lee (77) stands next to forward Eddie Matsushima (15) during a hockey game Saturday, Nov. 23, 2024, at Grossinger Motors Arena. "I really like playing with him," Lee said of Matsushima, the team captain. When Barski received "some random email from an agent that I didn't know about who had (Lee) on a list," he was intrigued. "It didn't take very long for us. We watched a couple of shifts (with Lee), and I was like, 'Oh my God,' you know," the coach recalled. "His athleticism jumps out at you. His speed jumps out at you. His physicality jumps out at you. The shot. "I mean, it was a pretty quick process on our end to be like, 'Oh my god.' Like, 'We want this guy in our locker room. We want him to be a part of the organization.' ... We jumped on it pretty fast," Barski said. The attraction was mutual, Lee said. Soon, he was headed for Bloomington, over 6,500 miles from the home in Seoul, South Korea, where his love of the sport began. Chasing dreams Lee's passion for hockey took root at a young age. "There (were) not many hockey rinks back home when I was really young," he said. Still, both of his older brothers found a way to play the sport. At one of their practices, when Lee was just 5 years old, his dad asked if he would like to play, too. A young Chongmin Lee and a teammate in South Korea are shown in this provided photo. "I said yeah," Lee recalled. "And then we got all the random hockey gear (that was) left, I put it on, and I went on the ice. That was my first (hockey) memory." Lee found success on the ice in South Korea, but "I always thought about going overseas (to) play hockey." At just 15 years old, he got that chance when an agent connected him with the Vancouver North East Chiefs of the British Columbia Elite Hockey League. Lee's brothers encouraged him to seize the moment. Such an opportunity "doesn't come as often, so I should take it," Lee said, recalling their advice. "So I did." Lee packed everything up, traveled across the Pacific Ocean and settled into western Canada, where he finished school while playing hockey — and learning a new language. "It was a challenge for me," Lee said. "I wasn't able to speak any English back then." Despite the communication barrier and distance from his family, Lee thrived on the ice and built a community with his teammates, he said. "I don't have family here (in North America)," Lee said. "So I wanted someone ... people like my teammates to be my family." Those same teammates drove Lee to continue playing and pursuing his dreams, he said. Seeing his friends advance and playing at higher levels of hockey — from junior hockey to the college level and beyond — pushed him forward. "After college, they wanted (to) go pro, so I wanted (to) go pro," he said. "So, yeah, that kind of ... (kept) motivating me." After playing for the Chiefs, Lee joined the BCHL , a junior hockey league in British Columbia, Canada. From 2017 to 2020, he played for the Spruce Kings in Prince George, some 320 miles north of Vancouver. A young Chongmin Lee playing for Prince George's Spruce Kings in Canada. His journey would hit a major snag in 2020, when he had been slated to play for the University of Alaska-Anchorage. The COVID-19 pandemic and budgetary issues led to the university to cancel the season and ultimately end the program. "I didn't have a team for a year," Lee recalled. "That was a really hard time for me." In 2021, he crossed another ocean — this time, to Sweden — to keep his hockey dreams alive. During his two years in the land of the Vikings, Lee played for Nässjä HC and Tranås AIF, two semi-professional organizations. About 140 miles southwest of Stockholm, the Swedish municipality of Tranås has a population of roughly 15,000. Such a stark contrast with Lee's previous homes — the Vancouver metro area has 2.6 million residents, Seoul over 9 million — made it harder to connect with people, he said. "Obviously, they speak really well in English, but they still speak (more often) in Swedish," he said. "And I was in a really small town." Though Bloomington-Normal is no Seoul, Lee said it has proven more similar to the "second home" he experienced while playing in Canada. "It feels comfortable," he said. 'Ready to go, all the time' The Bison list Lee at 5 feet, 11 inches tall and 185 pounds — not the biggest person on the ice . While he also isn't the smallest, outranking several of his teammates in height and weight, Lee acknowledged that his size can be a disadvantage. "I'm not a big guy. And when I (went) to Canada the first time, I was really young, and my body wasn't ready," he said. "My body wasn't built to play against like, 6-1, 200-pound guys." The average height in the ECHL , according to data on eliteprospects.com , is 6 feet, 1 inch, and players' average weight clocks in at just over 191 pounds. Compare that with the NHL average of 6 feet, 2 inches and 201 pounds , and it becomes clear that Lee is punching up, as it were. He had to adjust how he played after leaving South Korea, he said: "Use my speed, make a quick play, not hang on to (the puck) too long. Yeah, speed, obviously is (the skill) that I need to focus on." Bloomington Bison forward Chongmin Lee (77) stands in front of Kalamazoo Wings goaltender Ty Young (33) during the second period of a game on Saturday, Dec. 28, 2024, at Grossinger Motors Arena. Lee is meticulous about his diet and conditioning, Barski said, working just as hard off the ice as he does on it. "He really takes care of his body. I mean, when you see him, he's like a physical specimen," Barski said. "You know, he's not the tallest, necessarily, but he's built really well. And he takes a lot of pride in that ... he's a consummate professional." The way Lee attacks the offensive zone with his quickness has two primary effects, Barski said: 1) puts the defense on their heels and 2) speeds up his teammates. Barski "We talk a lot about ... slowing the team down and speeding our team up. Those, to me, are like a two-pronged approach," Barski said. "So his ability to speed the game up slows down the other team and puts them in some really tricky situations." Matsushima, listed as the same size as Lee, brings a similar style of play. "I think I learned a lot from him, actually," Lee said of Matsushima, whose ECHL experience includes three seasons with the Tulsa Oilers. "I see him, how he uses his speed, and I added that to my game. And then I started seeing (the game better). I start playing more comfortable and confident." Matsushima said the two have had a connection from the start, largely due to their shared speed and approach to the game. "We're both just just very similar players in the sense that we're just ready to go all the time," he said Saturday night. "We just kind of have the understanding that when one of us says to go, there's no second thought. We both just go." That speed, combined with seeing the game slowed down, is what led to Lee's fateful first goal. "Coach always says, 'See play, make play.' If you don't see it, don't force it," Lee said. Driving through the offensive zone that day, Lee was joined by fellow forward Gavin Gould, No. 91. "I saw Gouldie on the other side (of the ice). I couldn't make that pass," Lee said. Instead of forcing a tough pass, "I just, like, shot it. I shot the five hole (between the goalie's legs), and it went in." Lee hopes whatever success he finds, coupled with his discipline and consistent practice, will help to inspire his teammates, as well. "I think, when guys are looking at me, 'If that guy can do it, everyone else can do it (too),'" he said. Locking into a steady work ethic, day in and day out, can be tough, Barski said. "Things in pro hockey can get very monotonous," he said. "You show up at the same time. You do the drills ... So it kind of becomes this malaise." Professional athletes, by their nature, are highly motivated. But that doesn't necessarily make coaching and practicing at a high level easy, Barski said. "The trickier part, potentially, is — how do you make it fun?" he said. Such an approach involves looking at the hockey player as a whole, not simply who he is on the ice or in the locker room. "We'll do that in a multitude of ways," Barski said, "whether we're doing, like, a team bonding activity here where we're doing something a little different, out of the ordinary, or, you know, just having individual meetings, checking in with the guys." Bloomington Bison forward Chongmin Lee (77) watches the play during a game against the Kalamazoo Wings on Saturday, Dec. 28, 2024, at Grossinger Motors Arena. The goal is a culture that encourages players to be excited about practice and open to coaching. "Obviously, we're a new team with a new organization, we will take a little bit of time" to develop the team's character and culture in the locker room, Lee said. Some of the Bison players are in their first ECHL season. "We have lots of rookie guys and guys who are coming from junior hockey. So we need, we definitely need a little more time ... for that culture," Lee said. "But it's coming. It's coming, and we're getting better and better every day." Moving forward While some ECHL players could be a few years or even months away from making it in the NHL, many still have a lot to learn. "If they knew everything, they wouldn't need us. We'd be out of a job," Barski said with a chuckle. One area in which Lee has shown improvement is on-ice communication, he said. "He's quiet," Barski said. "And that might be a culture thing. We're actually trying to pull that out of him, especially on the ice." Not that being quiet and reserved is a bad thing, the coach added. "You know, at the end of the day, we don't want anyone to be anything that they're not. If you're quiet, be quiet," Barski said. "But on the ice, it is a little bit of a detriment to be quiet because one of the ways to, obviously, help a teammate is by communication." After a few months with the Bison, Lee has started opening up and talking more during drills, practices and games. Bloomington Bison forwards Chongmin Lee (77) and Eddie Matsushima (15) return to the ice after a break in play during a game against the Toledo Walleye on Saturday, Dec. 14, 2024, at Grossinger Motors Arena. "We feel comfortable that he feels comfortable that we can start trying to ... add that to his toolbox, so to speak," he said. Part of the newfound comfort might come from Lee's off-the-ice activities. "I do hang out with our teammates when we don't have games," he said. "And I went to Chicago one time. It was fun." One thing he'd like to do, when he has a chance, is catch a Chicago Blackhawks game live to see star center Connor Bedard . Drafted No. 1 overall by Chicago in 2023, Bedard hails from North Vancouver, British Columbia — next to Lee's old stomping grounds in Canada. And who knows — Lee could find himself sharing ice with Bedard one day. After all, at least five of his teammates have been called up to the Bison's American Hockey League affiliate, the Hartford Wolf Pack, at various times this season. Playing for the team in Connecticut would put Lee one step away from the NHL. Until then, you can catch him on the ice at Grossinger Motors Arena, his number 77 a blur as he races up and down the ice. WHAT: Bloomington Bison vs. Kalamazoo Wings WHEN: 3 p.m. Sunday, Dec. 29 WHERE: Grossinger Motors Arena, 101 S. Madison St., Bloomington THEME: Sunday Family Fun Day. Kids get a voucher for a free hot dog, chip, cookie and soda. There will also be a postgame skate with Bison players. TICKETS: $20-$71, available at bloomingtonbisonhockey.com or Ticketmaster, or call the Bison ticket office at 309-965-4373, ext. 2. Lifelong hockey enthusiast Adam Morris follows the growth of the Bloomington Bison in their first season. The ECHL holiday break is over. As the Bison face the Kalamazoo Wings in a weekend set that includes two home games, here's a look at what to expect. Are there parallels between the Bloomington Bison and their primary NHL affiliate? Columnist Adam Morris checks out the New York Rangers in person. The Bison are in their third month of existence, but their presence in Bloomington-Normal has already started to take root. After their five-game run against the Iowa Heartlanders ended with two consecutive losses, the Bloomington Bison can look forward to a change of scenery — and opponent. As we bask in the glow of holiday decorating and Thanksgiving leftovers, columnist Adam Morris takes stock of his gratitude as a Central Illinois hockey fan. When the Bison and Iowa Heartlanders play, penalties will be a factor. There have been 171 penalty minutes handed out, including 13 roughing calls and nine major penalties. Power plays, leadership and stamina: Three takeaways from the Bloomington Bison's first winning weekend at Grossinger Motors Arena. As the Bloomington Bison lose their top goaltender to a higher league, a grueling schedule in the coming weeks could become the team's proving ground. The Bloomington Bison's owners believe fans will be impressed with the higher level of play at Grossinger Motors Arena — but that only works if they're there to see it. Are you struggling to keep up with the Bison's ever-changing roster? You're not alone. Here's why the new Bloomington hockey team is uniquely positioned in its league — and how it could be an advantage. "Was it a little disappointing that the Bison did not come out of last weekend with a win? Of course. ... What I did see, though, felt just as encouraging." It's always exciting to see the start of something new. That's what fans are getting with the Bloomington Bison — on the ice and behind the glass. When the Bloomington Bison drop the puck in their preseason matchup Saturday, it will represent potentially best chance for sustained professional hockey in the Twin Cities. Contact D. Jack Alkire at (309)820-3275. Twitter: @d_jack_alkire Looking for more Bison coverage? Check out our new pages on social media! Facebook: facebook.com/bisonhockeyextra Instagram: instagram.com/bisonhockeyextra X (formerly Twitter): x.com/bisonextra Get in the game with our Prep Sports Newsletter Sent weekly directly to your inbox! General Assignment Reporter {{description}} Email notifications are only sent once a day, and only if there are new matching items.
One of the standout features of this season is the introduction of the new game mode, Time Warp. In Time Warp, players will find themselves thrust into a chaotic battlefield where time and space are constantly shifting. With unpredictable events and challenges at every turn, Time Warp promises to test the skills and teamwork of even the most seasoned players. Whether you're a casual player looking for some fast-paced action or a competitive player seeking new challenges, Time Warp has something for everyone.President Anura Kumara Dissanayake, AKD in short, in his address to Parliament on 21 November 2024, announced two strategies to make Sri Lanka a thriving nation and a beautiful country under the rule of his political alliance1. One is immediate, picking the low hanging fruits in common parlance, and the other is medium to long-term that will create a turning point in the economy. This requires investment of funds for providing working capital to maintain the existing level of output, known commonly as GDP, and for investment capital for expanding the size of the economy. The necessary funds for investment should be provided by domestic savings generated by the Government and the people by consuming less than the income. If there is a paucity of such savings, funds should be acquired from external sources – use of the savings made by foreigners – by way of grants, direct investments, investment in the share market or Government securities or loans from friendly countries or commercial markets. This last source is not immediately available to Sri Lanka since it will take time for the country to create conditions conducive for attracting such funds. Hence, the major emphasis should be placed in the current period on domestic savings. Financial institutions will supply domestically generated funds by mobilising savings from the public and making the same available to prospective fund users by way of loans. They will also expand their supply base by creating multiple deposits and credit using the reserve money being supplied by the Central Bank. Hence, the main responsibility for funding the economy rests on financial institutions. According to the financial results released by commercial banks for the first nine months, they have made after tax thumping profits. While there is no objection to their making profits – because they are profit making institutions – they should also help the economy to come out of the present low growth scenario. The economy has just come out of a prolonged recession2 till the second quarter of 20233. The period ahead is also not promising since the average annual economic growth is projected to be at around 3% during 2024 to 2026,4 much lower than the average annual growth rate of 4.5% maintained by the country in the post-independence period.5 Any major internal or external economic shock disrupting economic activities could push this positive low growth to the negative region making matters more complicated for banks as well as for people. In this background, banks are expected to adopt conservative strategies to protect their balance sheets and consequentially, the funds supplied by depositors. To attain this goal, they should be selective in lending, shun borrowers devoid of potential to repay, increase interest rates to mitigate the risks and uncertainties, and consolidate existing good borrowers to keep the non-performing loan portfolios at a level that will not dent the net worth. The country is presently going through a deflationary situation with the inflation rate moving to the negative region at 2.1%% by end November 20246. This is an underperformance in relation to the flexible inflation target of the Central Bank under which the annual inflation should be maintained at least at 3% per annum. Hence, the central bank has space to cut the interest rates further and expand the credit levels. Commercial banks and other financial institutions should align themselves to this new development. For that, they should come up with innovative loan products to help the borrowers. This is a conflicting choice because attaining one goal will necessarily mean sacrificing the other. Following either goal exclusively is disastrous for banks as well as for the national economy. If banks end up with toxic balance sheets due to following the national goal of expanding inclusive lending, the stressed financial system will be a burden to the taxpayers. This is because, in terms of the new Central Bank Act, it is the responsibility of the Government to bailout problem financial institutions by providing solvency financing, known as long-term capital, to them. For that purpose, the Central Bank’s money printing power cannot be used except for liquidity financing in the form of short-term funds which is only supplementary to the major bailout packages being offered.7 Hence, the full burden of rescuing a sick financial system devolves on the taxpayers who are also stressed by the high levels of taxes they must pay as individuals. With the limited capacity within the Treasury, it is unlikely that the Government could provide the needed funding for rescuing a sickened financial system. But if banks follow an exclusive strategy of protecting their balance sheets, the timeline of the needed economic recovery will be shifted to the future making it difficult for banks to prosper in a slow-recovering economic system. Banks being creators of financial assets can prosper in the long run only if the real economic activities are doing well. If the real economy does not perform well, assets of banks which are solid in good times will start melting down leading to a severely disastrous financial crisis in the long run. This was the main cause of the global financial crisis of 2007-9 in which aggressive housing loans of US banks granted without due diligence became non-performing due to the slowdown of economic activities.8 Hence, in a recession-hit economy, the job of a banker is like that of an acrobat walking on a tight rope. In the circumstances, how should the banks strike a compromising balance between these two conflicting objectives? They cannot go against the national policy individually or as a system jointly. Any quick recovery will benefit them more than any other economic agent within the system. Hence, it is in the interest of the banks to help the government achieve a quick economic recovery and banks can do so by expanding the lending base. But this does not mean that banks should relax their loan assessment criteria to accommodate the increased demand for loans which may have failed to pass the test of prudence in terms of viability or purpose. Viability will ensure that the borrowers have the potential to service the loans as agreed. The purpose will ensure that they will make the highest contribution to the national product so that they will help the economy to attain a quick recovery. Complying with both requirements will help banks as well as the national economy since both are connected to each other like the bark to the trunk of a tree. Hence, banks should make a fair number of internal adjustments to gain capability for playing the game safely. These adjustments are strenuous, and pain-stricken but necessary if both the national economy and the individual banks are to succeed in a low-performing economy. The following, while not being exhaustive, are some of those adjustments that should be made forthwith. Capacity development of the staff by retraining them to assess the loan applications of the stressed-out borrowers: In a recession-hit economy, like the bankers, the borrowers are also stressed-out due to the struggle which now they must make first to survive and then to succeed in a secured livelihood. Hence, any loan being granted is a measure to take that stress out of him. That requires a banker to extend a supportive hand to the borrower. If he does not do so, the prospective borrowers will be driven to the informal money lenders who will supply the needed funds more conveniently but at rates and under conditions that will not help them to sustain their businesses. Informal money lenders deliver loan funds within hours of agreeing to the borrowing arrangements.9 It is a convenience to the borrowers. However, the borrower should pay interest at about 10% per month and repay the full amount within 100 days in which instalments are recovered daily.10 It is this last condition which puts the borrower in a tight jacket because it is unlikely that he will be able to earn enough liquid cash daily to service the loan. Consequently, many borrowers have been driven to eternal indebtedness from which they can never escape. Therefore, the supportive hand which a banker should extend to a stressed-out borrower should necessarily involve a loan product that is delivered conveniently, on one hand, and helps the borrower resuscitate his business and make a positive contribution to the growth of both the lender and the national economy, on the other. This also requires the banks to change their lending policy. Building a risk reserve to accommodate failing loans: Lending by adopting a relaxed loan assessment strategy to help the stressed-out borrowers is a risky affair. Many loans can become non-performing because the economic environment faced by these borrowers may suddenly change due to unfriendly man-made as well as natural external shocks. Of the man-made shocks, the change in the government policy to the disadvantage of the borrower concerned is prominent. For instance, the Government which is bent on raising its revenue base irrespective of its adverse impact on the recovery or the sustenance of the economy may impose new taxes that will completely derail the business line of the borrower concerned. For instance, take the case of a borrower who is in the handloom fabric weaving business. If a new value added tax is imposed on the locally made fabric, the borrower concerned is unable to sell his product in the market according to his previous sales projections. If his cash flow is disrupted due to the declined sales, he is unable to service his loan. Similarly, external economic shocks may also disrupt his cash flow projections. If the borrower’s project fails due to these factors beyond his control, the loan can become non-performing. To cover the risks arising from such non-deliberate loan defaults, there should be a risk covering reserve funds within the bank. This is in addition to the provisions made under Basel accords.11 This fund can be established by transferring a portion of the profits of a bank. If a bank follows this policy, it need not depend on the Government’s support to prevent its balance sheet from becoming toxic. Effective supervision of loans granted to stressed-out borrowers: Loans can become non-performing when the project for which the bank has granted a loan is not effectively supervised by the banker. This happens specifically in the case of micro and small and medium enterprise loans. This MSME sector is the backbone of the economy since it is responsible for more than a half of the total employment and the output in the economy.12 Close supervision by the banker will allow him to identify in advance the problems brewing in a business of a borrower and take effective preventive action to avoid loan losses. Introducing a venture capital type financing for start-up businesses:13 In an economy which is recovering from recession, the new entrants to business will provide an additional impetus to its recovery process. The way to accommodate such start-ups is through venture capital financing, in which the banker and the start-up entrepreneur get together to make the business dream of the borrower a reality. The technical knowhow and the business acumen are possessed by the prospective new entrepreneur. The banker supports him by providing the necessary capital and managerial cum business wisdom to him. In this case, the banker is not a lender, but a part owner. If the business fails, the bank is also required to assume losses. Because of this risk factor, the banker has all the reasons to effectively participate in the management of the business. But to do so, the bank’s staff should be retrained to provide the necessary managerial inputs to a start-up business. It is also necessary that the bank should employ workers with multiple disciplines, like finance, management, science, technology, or engineering. They should be provided with tailor-made training to make them effective participants in a business venture. In summary, the role of a banker in a recession-hit economy is different from his role in a well performing economy. He is required to protect his balance sheet from becoming toxic because he has the prime responsibility to protect the funds of the depositors. But at the same time, he cannot ignore the role that he should play in helping the economy to attain a quick economic recovery. Such a recovery is essential for him to succeed in the long run as a banker. The asset base of a banker is solid if the economy is solid. If the economy does not perform well or below its potential, the asset base will begin to melt down, forcing him to close doors. Such an eventuality can be avoided if the banker adopts strategies to make a difficult but necessary internal adjustment. This is like walking on a tight rope balancing the conflicting personal interests and the needs of the national economy. It is those banks which can strike the right balance that will succeed in a recession-hit economy. 1 An English translation is available at: https://pmd.gov.lk/news/the-full-speech-delivered-by-president-anura-kumara-dissanayake-at-the-inauguration-of-the-first-session-of-the-tenth-parliament/ 2 A practical definition of an economic recession is recording a negative economic growth for two consecutive quarters; an economic depression is a severe recession with a negative annual growth of more than 10%; see: https://www.imf.org/external/pubs/ft/fandd/2009/03/pdf/basics.pdf . 3 Department of Census and Statistics, Growth of Quarterly GDP at Constant Prices 2016-2023. 4 IMF, Sri Lanka Country Report 23/116. 5 Central Bank of Sri Lanka, Annual Report 2022, Special Statistical Appendix, Table 2. 6 https://www.statistics.gov.lk/InflationAndPrices/StaticalInformation/MonthlyCCPI/CCPI_20241129E 7 Section 36 of the Central Bank Act provides for the grant of such liquidity financing only to ‘solvent’ financial institutions. Hence, insolvent financial institutions cannot get even the liquidity financing from the central bank. Liquidity financing to insolvent financial institutions can be made by the central bank in exceptional circumstances on an ‘unconditional and irrevocable’ guarantee given by the government. 8 See: https://www.rba.gov.au/education/resources/explainers/the-global-financial-crisis.html#:~:text=The%20catalysts%20for%20the%20GFC,built%20houses%20in%20some%20areas. . 9 For details of Sri Lanka’s informal money market, see, Berensmann, Kathrin et.al , 2002, Informal Financing of Small Scale Enterprises in Sri Lanka, Working Paper 10/2002, German Development Institute, Bonn. 10 Wijewardena, W.A., 2019, “Fixing Lending Rates and Waving Farmer Loans: Two Policies That Do Not Augur Well For Borrowers” Colombo Telegraph, https://www.colombotelegraph.com/index.php/fixing-lending-rates-waiving-farmer-loans-two-policies-that-do-not-augur-well-for-borrowers/ . 11 For details, see: Majnoni, Giovanni at.al., 2004, Bank Capital and Loan Loss Reserves Under Basel II: Implications for Emerging Countries”, World Bank Policy Research Working Paper, 3437; https://documents1.worldbank.org/curated/en/426261468765318403/310436360_20050014104409/additional/WPS3437.pdf . 12 Wijewardena, W.A., 2023, Misconceived resilient economy needs fixing by restoring broken supply chains, Daily FT; https://www.ft.lk/columns/Misconceived-resilient-economy-needs-fixing-by-restoring-broken-supply-chains/4-753818 . 13 For details, see: Davila, Antonio, Foster, George and Gupta, Mahendra, 2000, Venture Capital Financing and the Growth of Startup Firms, Research Paper No 1667, Graduate School of Business, Stanford University.
