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Spotlight on Single-Family Rentals

first_img About Author: Donna Joseph Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] January 16, 2019 1,369 Views in Daily Dose, Featured, Market Studies, News, Servicing Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Single Family Rental Space Single-Family Rental Securitizations Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Single Family Rental Space Single-Family Rental Securitizations 2019-01-16 Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The latest single-family rental research from Morningstar Credit Ratings, LLC shows that the rent change for single borrower, and single-family rental securitizations increased by 3.6 percent in November, dropping from a revised 3.8 percent in October. Data indicated that the average vacancy rate declined by 10 basis points to 4.6 percent in November from a revised 4.7 percent in October. Morningstar attributes the decline in vacancy to a corresponding decrease in lease expirations, following a seasonal trend of lower lease expirations and vacancies in the winter months.According to Morningstar, the average retention rate for expiring leases declined 10 basis points to 78.7 percent in October, the latest month available, from 78.8 percent in September. However, it has remained over 75 percent for the past year. Of the 20 metropolitan statistical areas (MSA), Houston MSA had the highest vacancy rate at 6.9percent, up from a revised 6.6 percent in October. This was followed by Denver-Aurora at 6.3 percent, and Indianapolis at 6 percent. The highest blended rent growth was experienced in Sacramento at 6 percent, followed by Las Vegas and Riverside-San Bernardino MSAs at 5.5 percent each, the report indicated.  Lowest rent growth was recorded at 1.7 percent in the Houston and Nashville MSAs. According to Morningstar research, rent growth for properties included in single-family rental securitizations continue to exceed the RentRange rents for three- and four-bedroom properties located in the same MSAs. Analyzing single-borrower performance, the research found a decrease in lease expirations to 5.3 percent in November, a drop from 6.5 percent in October. This decline is also expected to lead to a decline in the vacancy rate in the coming months. The overall turnover rate increased to 3 percent in October, the latest month for which data is available, from 2.7 percent in September. The average delinquency rate increased to 0.7 percent in November, with five transactions reporting delinquency rates of 1 percent or more. Rents recorded an upward spike at 3.6 percent in November, compared with a revised 3.8 percent increase in October, according to the research.Focusing on how to build, manage and grow investment opportunities, 2019 will see an array of housing and mortgage professionals come together at The Guest House of Graceland, Memphis, Tennessee between March 11-13 for the Single Family Rental Summit. The Summit will feature subject-matter experts who will answer questions and offer viable solutions related to property management, acquisition, disposition, and financing. Click here to register for the summit. Share Save Previous: 2019 Real Estate Outlook: What Can Investors Expect? Next: Developments in Bankruptcy and Title Practices Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Spotlight on Single-Family Rentals Spotlight on Single-Family Rentalslast_img read more

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Criterion Relocates

first_imgCriterion, LLC2456 Christian StreetWhite River Junction, Vermont 05001RELEASE: June 7, 2004Contact: Dianne Kenney 802-280-3061Criterion RelocatesWhite River Junction, VT. Criterion, LLC is pleased to announce their relocation to 2456 Christian Street, White River Junction, Vermont.Criterion, LLC was originally established in 2000 as Green Mountain HR, with a focus on Human Resources consulting. In response to clients mounting requests, we have expanded our core services to include executive coaching, management education and meeting facilitation, said Dianne Kenney, owner.The increased space accommodates the continued growth of the company due to expanded service offerings, including in-house seminars.For more information about the Criterion, please email [email protected](link sends e-mail) or phone us at 802-280-3061.last_img read more

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Wellington City Council looking for volunteers to complete housing assessment for grant

first_imgSumner Newscow report — The Wellington City Council is looking for volunteers to assist the city in completing a Housing Assessment Tool which is part of the Community Development Building Grant. There is potential for a $300,000 grant geared to improving affordable housing in Wellington.The first meeting is Thursday, 6:30 p.m., at the Wellington Economic Development office. Currently, there is two city staff members, two council members, two real estate, and two from the general public. The council is looking for representatives from the local churches, hospital, county health department, 353, etc.last_img read more

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Ivory Coast 2021 Africa Cup of Nations gets big budget backing

first_imgYamoussoukro, Ivory Coast | AFP | Ivory Coast Prime Minister Amadou Gon Coulibaly laid the foundation stone of a brand new football stadium in Yamoussoukro on Friday as work accelerated in preparation for the 2021 Africa Cup of Nations.Several thousand people were present at the site for the 20,000-capacity stadium in the political capital, which is expected to be one of six venues for the tournament.Coulibaly promised a budget of 300 million euros ($345 million) investment in infrastructure in preparation of the country’s first hosting of the event since 1984.Work on a separate 60,000-capacity stadium in Abidjan began in 2016, while other new grounds are scheduled at San Pedro and Korhogo, and the renovation of a major stadium at Bouake (40,000) is also on the agenda. Previous editions of the CAN have taken place in January-February but a new format for June-July tournaments with 24 nations rather than 16 will see the event enlarged.The Confederation of African Football (CAF) said there were major delays in the building of infrastructure in Cameroon, scheduled to stage next year’s competition, and that a decision on whether to strip them of hosting rights would be made at the end of November.Morocco, which unsuccessfully bid to host the 2026 World Cup, has lobbied to replace Cameroon as hosts.Share on: WhatsApplast_img read more

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Harlequin Productions Set to Announce its 25th Anniversary Season

first_imgSubmitted by Harlequin ProductionsThe State Theater, built in 1949, is home to Harlequin Productions. Photo courtesy Karen Crooks.Standing on the corner of 4th Avenue and Washington Street, Olympia’s State Theater has been a handsome landmark building since it opened in 1949. It served as a state of the art movie theater until the 1970s when multiplex cinemas displaced locally owned individual houses and by the late 1990s the building was boarded up and left for dead.In the meantime, live theater company Harlequin Productions had grown an audience base of a size that inspired the group to seek its own home. After seven seasons as a renter in the Washington Center, Harlequin took a leap of faith and bought the State Theater, remodeled it to be a beautifully appointed live theater venue, and reopened it in November of 1998. Now, seventeen seasons and roughly 350,000 tickets later, the company is preparing for its 25th Anniversary season.On Sunday evening April 19th from 5-8 pm at the State Theater, Harlequin will host Eclectica!, the company’s annual season announcement celebration, and reveal the lineup for their 25th season. How do you sum up 24 years of theater in Olympia? As Managing ArtisticDirector Scot Whitney puts it, “It’s been quite the ride.”“I was a filmmaker for 16 years,” remembers Whitney. “All I ever wanted to do was tell stories. But over the years, filmmaking became less and less about working with actors and more and more about working with equipment.”So, Scot put together a set of four plays he wanted to direct and set about finding theaters who would produce his shows. However, he was met with theaters who felt the plays he wanted to direct were too avant-garde, too challenging. “Everywhere I went, I was told ‘Oh, you can’t do that in Olympia.’ So I thought, ‘Alright, I’ll do it myself.’”Harlequin Productions was founded in 1991 by a group of five people—Scot Whitney, Linda Whitney, James L. This, Phil Annis and Ronna Smith—who decided that they wanted to produce a more challenging style of theater. They wrote their mission statement, pooled their start-up capital—a whopping $400 cash—and began producing individual shows at the Washington Center Black Box, which seated about 100.After building a small but devoted patron base, Harlequin took on an enormous production of “Hamlet” in 1992 (their second season). The show was staged with an Asian motif on a 20 foot motorized revolve with a cast of 18, an original score, and elaborate fights and dance scenes. “Hamlet redefined the direction of the company,” says Harlequin Artistic Director Linda Whitney. “Who cared if shows of that magnitude overtaxed our resources? They were fun! And no matter how we tried to rein people in, everyone involved was chomping at the bit to make the next production a little bit better.”By 1995, the productions had grown in size and scale so much that the company was outgrowing the Black Box space at the Washington Center. Searching for a permanent home, Harlequin found the State Theater, which had started its life as one of the finest movie theaters on the West Coast. It had fallen on hard times during the cineplexing of America and was chopped into three ill-conceived shoebox theaters. Within a few years, it became a neglected dollar movie house and was finally boarded up and abandoned. The State Theater looked so bad by this time that the company members had few hopes. As Scot Whitney tells it, “To be frank, it was an eyesore in the heart of downtown Olympia. But the price was reasonable. The owner was willing to sell. And it was in superb structural condition. It just needed paint and TLC. And new electrical. And a concessions stand. And marquee. And carpet. And dressing rooms. But the seats were great!”After about a year’s worth of hoping and dreaming, Harlequin Productions made an offer on the State Theater, it was accepted, and the company launched a massive capital campaign to fund the purchase and remodel. They had precisely seventeen months to raise $1.3 million and complete the renovation. And seventeen months later, Harlequin opened the doors on the beautifully remodeled State Theater.Harlequin Productions own comedy troupe, Something Wicked, will perform during Eclectica!The move to the State Theater provided Harlequin the ability to continue producing the challenging works the founders dreamed about in the beginning. In season nine (2000), the company had two productions (The Tempest and Hapgood) selected for permanent collection by the Theater on Film and Tape Archive at the Lincoln Center in NYC. And just over a year ago, the company added improv comedy to the mix with their own troupe, Something Wicked.It’s been an incredible 24-year journey filled with countless magical performances. And on Sunday evening April 19, Harlequin Productions will announce the lineup of their 25th Season.Eclectica! is Harlequin Productions’ annual fundraiser and season announcement party. The event will take place from 5:00-8:00 PM on Sunday April 19 at the State Theater in downtown Olympia and include a catered dinner; no-host bar; live entertainment; a wine toss; a short, live auction; and the announcement of Harlequin’s Season 2016 lineup of shows.“The 2016 Season is Harlequin’s 25th anniversary season,” said Managing Artistic Director Scot Whitney. “We’ve got some surprises in store to mark the occasion.”Entertainment will be provided by the acclaimed musical duo Red & Ruby, featuring LaVon Hardison and Vince Brown. In addition, Harlequin’s improv troupe, Something Wicked, will present live improv comedy.“Eclectica! is always a very fun event,” commented Harlequin Artistic Director Linda Whitney. “Red & Ruby are fabulous, and Something Wicked will be hilarious as always.What better way to celebrate where we’ve been, and where we’re going?”Tickets to Eclectica! can be purchased by calling 360-786-0151, or online at harlequinproductions.org. 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HEAVILY FAVORED ONE LUCKY DANE MAKES LEAD & DEMOLISHES ALLOWANCE FOES BY 9 ¾ LENGTHS, STAMPING HIMSELF A DERBY HOPEFUL IN THE PROCESS

first_imgIDLE SINCE BREEDERS’ CUP JUVENILE, BAFFERT TRAINEE GETS FLAT MILE IN 1:35.48 UNDER BEJARANO                 ARCADIA, Calif. (March 19, 2015)–Idle since running sixth in the Grade I Breeders’ Cup Juvenile at Santa Anita Nov. 1, Bob Baffert’s heavily favored One Lucky Dane came off the bench swinging on Thursday, as he demolished four rival sophomores in Santa Anita’s $58,000 allowance feature, winning by 9 ¾ lengths under Rafael Bejarano while covering one mile in 1:35.48.            Breaking from the outside post position five, One Lucky Dane was sent to the lead aggressively by Bejarano, setting fractions of 23.89, 47.84, 1:11.34 and 1:23.15.            “I thought the number three (Commute, with Elvis Trujillo) was the only other speed and when he broke slow, I put my horse on the lead,” said Bejarano.  “There was no competition for him today.  He was just breezing the whole way and he was much the best.”            An imposing bay colt by Lookin At Lucky, out of the Boston Harbor mare, Echo Harbor, One Lucky Dane was a runaway 9 ½ length maiden special weight winner going a mile two starts back on Oct. 4, and thus registered his second win from five starts Thursday.  Off at 2-5, he paid $2.80, $2.10 and $2.10.            “We were hoping he would do something like that, but he’s coming off a layoff,” said Baffert.  “We were disappointed after the Breeders’ Cup.  We freshened him up, and here he is…I was hoping this would prep him for something real big, so hopefully, it will.”            Owned by Michael Lund Petersen, One Lucky Dane collected $34,800 for the win, boosting his earnings to $92,400.            Off at 7-1 with Kent Desormeaux up, Harmonic sat a close fifth into the far turn and just edged Commute on the wire by a nose for second money.  Harmonic paid $3.20 and $2.20.            Although he broke cleanly, Commute, who was trying two turns for the first time in his third career start, bobbled shortly after the break but was quickly into contention around the Club House turn.  Ridden by Elvis Trujillo and trained by Mark Casse, Commute drew within a half length of One Lucky Dane approaching the quarter pole, but was no match for him thereafter.            The second choice at 2-1, Commute paid $2.10 to show.            Note:  Baffert also noted following the race that another of his talented 3-year-olds, Lord Nelson, who won the Grade II, seven furlong San Vicente Stakes on Feb. 1, and was most recently fourth in the Grade II, 1 1/16 miles San Felipe Stakes March 7, will not run as originally planned in Sunday’s  Grade III Sunland Derby in New Mexico.            “He just ran and I entered him to see if he would bounce back, but he’s…not quite as sharp as I’d want him to be,” said Baffert, who declined to say what might be next for the son of Pulpit.last_img read more

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Droid’s December Boom: Metrics Show Device Use Doubled in One Month

first_imgThe Rise and Rise of Mobile Payment Technology Why IoT Apps are Eating Device Interfaces Related Posts jolie odell Already, the Motorola Droid is the leading Android device on AdMob’s radar, generating a third of all the network’s requests in December. Released just under two months ago, it’s already the top-selling Android device on the market, a title it’s held since a scant fortnight after its launch.Granted, AdMob’s metrics show a small slice of mobile device usage. But they’ve consistently been reliable in showing what mobile users use and need and in predicting trends. We are internally excited about what Android-powered devices will do in the market in the months to come, and I am personally quite optimistic about Droid adoption specifically.Let us know what you think in the comments, particularly if you’re a fanboy or fangirl of a particular device! What it Takes to Build a Highly Secure FinTech … Tags:#mobile#web The Android platform has grown exponentially since mid-2009, but December’s stats show a particular factor that might help catapult the platform to greater heights of user adoption.In figures just released from mobile advertising company AdMob, the Droid singlehandedly boosted calls to their network by nearly 300 million requests while stats for HTC Magic devices remained static and those for HTC’s Dream model actually decreased. In terms of consumer use of the network and acceleration of device popularity, it seems we have a winner.Having been compared extensively with the iPhone, the Droid stands up solidly even under extensive scrutiny. And in terms of 3G network access, we’ve personally seen fewer issues than with any other mobile carrier we’ve tried to date. (Note: I’m a Droid owner and a former iPhone user. I’ve also suffered through my share of BlackBerries, Palms and their ilk.) If any device is to become the iPhone killer, it will be the Droid or something very close to it (here’s looking at you, Nexus One).AdMob’s numbers show that requests from all Android-driven devices increased by 97 percent between October to December in 2009, totaling more than 1 billion requests in December alone. The open platform has also seen a refreshing diversity of devices and manufacturers. AdMob shows that in December, 56 percent of requests were from HTC devices, 39 percent were from Motorola devices and 5 percent were manufactured by from Samsung. And in December, seven devices generated more than three percent of requests each: the Motorola Droid, HTC Dream, HTC Magic, HTC Hero, Motorola CLIQ, HTC Droid Eris and the Samsung Moment. This stat represents a significant increase from just three devices in October (HTC Dream, HTC Magic, and HTC Hero). Role of Mobile App Analytics In-App Engagementlast_img read more

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Video Editing 101: Using the RGB Parade

first_imgThe RGB Parade is a helpful video scope in Premiere Pro for separating out the 3 color channels of digital video: red, green and blue. In this post we explore how to use the RGB Parade to improve your video edits.Want to enhance the color in your video images, while also insuring you stay within a “broadcast safe” range? The RGB Parade is a handy tool for doing just that. Let’s dig in…You can access the RGB Parade in Premiere Pro by clicking on the small spanner icon in the monitor window or by clicking the panel menu at the top right hand side of the panel (the icon that looks like a series of lines with a small downwards facing arrow to the left of them). Then, select whichever scope you require from the displayed list (in this case, the RGB Parade).The RGB ParadeAs you can see the RGB Parade shows the three color channels (Red, Green and Blue) side by side (thus ‘Parade’) in a single scope. The graph should be read as follows:Each of the three color channels represent the whole of the image from left to right. Thus the Red section represents the Red color channel for the whole of the image and not just the first third of the image. Same goes for Green and Blue.The vertical scale from top to bottom shows the intensity or the strength of that color channel at the appropriate part of the video image – such that the brighter parts are shown at the top and the darker parts are shown at the bottom of the image on a scale of 0 to 100. You can see this in the example above as the darker rock is composed of darker colors (left side of the R, G and B) and the water is composed of brighter colors (right side of the R, G and B).The ‘50%’ beside the word ‘Intensity’ at the top of the RGB Parade is only to increase or decrease the intensity of the actual graph itself and will not affect the shot or results in the RBG Parade in any way. This can be a very useful feature when you have subtle areas which are not showing very clearly which can be amplified by turning up the intensity or if the whole graph is too bright in your editing station and only needed for simple reference. In this case the intensity can be turned down so that you can still see the graph but it is not getting in the way of your other Premiere Pro video editing tasks.As can be seem from the clip above, all three color channels are similar to each other which is an indication of a well balanced shot. When I use this graph I tend to look for offset between the color channels (as shown below). This is an indicator of potential problems.Unbalanced Color ChannelsThis may be a slightly extreme example as you can clearly see with your eyes that there is an issue with this shot. However, when we look at the shot with the RGB Parade we can very quickly see that the red channel in particular skews to the top of the graph, indicating a problem. In addition to this, we can see that the blue channel has far less information in the higher or lighter end, again showing that some change may need to be made to this shot.For this example, a simple solution would be to add Premiere Pro’s Fast Color Corrector to this footage. Make a quick adjustment, which will in turn start to balance the channels more for us.Fast Color Corrector (FCC) – Color WheelChange to the Image and RGB Parade after FCC ChangeAnother tool to adjust an individual color channel would be the RGB Curves effect:RGB Curves Effect – With Change to the Blue ChannelAfter RGB Curves Effects AppliedThis type of incremental work can help to correct the shot with valuable feedback from the RGB Parade. It’s worth noting that there may be times when the colors are dynamically skewed or at radically different levels. For example, in the shot above, there is quite a significant amount of red in the actual shot when you take into consideration the wood at the top of the shot, the teapot and other various red items. This in turn would mean that you could expect to have a stronger red channel for much of the shot in comparison to the other channels. So, just because one channel is more dominant than another does not necessarily mean that the shot itself is unbalanced. Be sure to examine the shot yourself and make sure that the feedback in any graph you use is helpful to correct (or grade) a shot.last_img read more

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Maharashtra Assembly polls: No hitch in Shiv Sena-BJP seat-sharing, says Uddhav Thackeray

first_imgThe Shiv Sena’s alliance with the BJP is strong as ever and seat-sharing arrangements for the coming Maharashtra Assembly elections had been decided by the two parties, Sena president Uddhav Thackeray said on Thursday.“We [BJP and Sena] have satisfactorily sorted out the seat-sharing arrangements. The media need not worry about it at this moment. They will come to know at the right time. All the parties in the BJP-Sena Mahayuti (alliance) will be satisfactorily accommodated in the seat-sharing arrangement,” he said.The Sena’s demand for the post of Deputy Speaker of the Lok Sabha ought not to be construed as “disgruntlement” on its part. “The Sena does not believe in doing anything by sly means…Expressing a wish or demanding something by rights [Deputy Speaker’s post] does not mean that we are upset with the BJP. We have made this alliance [with the BJP] on the principles of Hindutva, not for the sake of merely securing two or four Union Cabinet berths,” he said.Rebuking the Opposition, Mr. Thackeray said he had no wish to participate in “the disappointment of those hoping for a rift” within the Mahayuti.Quashing suggestions of any disaffection with the BJP, he said, “Now that everything between the two parties is going fine, we will ensure that this alliance remains firm.” Satisfied with single berth in Union CabinetMr. Thackeray emphasised that he was satisfied with the Sena being given a single berth in the Narendra Modi Cabinet.Sena’s Arvind Sawant is the lone MP to be given the Heavy Industries and Public Enterprise Ministry portfolio.When asked whether he would be touring the drought-hit areas in the State, Mr. Thackeray said the term ‘drought tour’ was a misnomer.“Let us hope that this drought is on its last legs… Our [BJP-Sena] government’s aim has not been to provide empty succor to the afflicted but to ensure that the farmers and locals are well provided in terms of fodder and food. I think the government has done its best to ameliorate the plight of the drought-hit people,” he said.Mr. Thackeray announced that he, along with son, Yuva Sena chief Aditya Thackeray, planned to visit and review the situation in the affected areas in western Maharashtra, Marathwada and Vidarbha this Sunday.Earlier in the day, the Sena president received a rousing welcome by local Shiv Sainiks as he landed in Kolhapur.Mr. Thackeray, along with his wife Rashmi and Mr. Aditya Thackeray prayed at the Mahalaxmi Temple in Kolhapur along with the party’s 16 of the 18 newly-elected MPs. Also present was senior BJP leader and State Revenue Minister Chandrakant Patil.“It was the late Balasaheb’s [Bal Thackeray] dream that the MP from Kolhapur should be from the Shiv Sena. Today, the people of Kolhapur have helped realise that dream by electing Sena MPs from both the Lok Sabha constituencies in the district and I am grateful to them,” said Mr. Uddhav Thackeray.last_img read more

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IOC inspectors face report on tough Olympic work conditions

first_imgIn this Feb. 12, 2019, photo, cranes continue to work at the construction site of the Olympic Village for the 2020 Tokyo Olympics in Tokyo. An IOC inspection team began a routine tour of venues being built for the Tokyo Olympics on Tuesday, May 21, 2019, just days after an international labor union federation derided difficult working conditions at some sites. (AP Photo/Eugene Hoshiko)TOKYO — An IOC inspection team took a routine tour of venues being built for the Tokyo Olympics on Tuesday, just days after an international labor union federation derided difficult working conditions at some Olympic sites.Top International Olympic Committee officials meet in Tokyo this week with local organizers, where labor issues will be on an agenda that includes rising costs, worries about summer heat when the games open in just under 15 months, and complaints about cost cutting from international sports federations.ADVERTISEMENT Sports venues to be ready in time for SEA Games PLAY LIST 00:59Sports venues to be ready in time for SEA Games01:27Filipino athletes get grand send-off ahead of SEA Games00:45Onyok Velasco see bright future for PH boxing in Olympics02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Private companies step in to help SEA Games hosting ‘Rebel attack’ no cause for concern-PNP, AFP Sports Related Videospowered by AdSparcRead Next Duterte wants probe of SEA Games mess Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Two-day strike in Bicol fails to cripple transport Death by overwork, known as “karoshi,” is a problem in Japan with employees often forced to work long hours despite government measures to try to prevent it.Tokyo organizers also say they are trying to cut spending, which drew angry responses earlier this month at an annual meeting of Summer Olympic sports federations. One federation head said she feared a “cheap” look in Tokyo as organizers try to cut items they view as decorative that might be out of the view of television cameras.Francesco Ricci Bitti, head of the Summer Olympic sports federations, is also an IOC member and part of the inspection team. He has promised to push organizers about the cuts.Tokyo appears to be well-financed. The $5.6 billion, privately funded operating budget — the budget to run the games themselves — is twice as large as that for the 2016 Olympics in Rio de Janeiro. In addition, the national government, cities and prefectures are chipping in about $15 billion more to update infrastructure and get the country ready when the games open.Tokyo officials have said operating costs have increased, partly by a decision to use more existing venues. Earlier plans called for constructing new venues, most of which would have been built at government expense.The IOC has repeatedly said it is saving billions by using existing venues. But doing it has also shifted more costs to local organizers.“Because Tokyo 2020 has been promoting the maximum use of existing facilities, naturally Tokyo 2020 is assuming the increased cost of the overlay and temporary facilities projects,” Tokyo spokesman Masa Takaya said in a recent interview with AP.He said the operating budget would not be increased and suggested some cuts were inevitable. Takaya said the cost to remodel existing venues and refit them was 95 billion yen (about $860 million). Yuson said he had not received a response from the Tokyo Metropolitan Government, which is building the Olympic village, nor the Japan Sport Council, a national government body that is building the stadium. The municipal government and the sports council told AP they were reviewing the report but offered few other details.The report said that workers interviewed complained about “a pervasive culture of fear” that discouraged speaking out. It said almost half of the workers interviewed did not have formal contracts, and it found “dangerous patterns of overwork” at both high-profile venues. It said some workers at the Olympic village reported working 28 consecutive days, and up to 26 straight at the national stadium.Yuson said some problems were made worse with tight Olympic deadlines and pressure to finish on time.“The situation is even worse with so-called interns or migrant workers with issues — language, employment contracts and immigration issues,” Yuson said by email. “Massive overtime in construction is really a big problem in Japan.”The report noted that two workers have died on projects for the Tokyo Olympics. The report said the labor federation began monitoring the Tokyo Olympics in 2016 and last interviewed workers in February.ADVERTISEMENT Catholic schools seek legislated pay hike, too DA eyes importing ‘galunggong’ anew Timberwolves retain Ryan Saunders, NBA’s first millennial head coach LATEST STORIES MOST READ Cayetano: Senate, Drilon to be blamed for SEA Games mess Don’t miss out on the latest news and information. Issued last week, the labor report titled “The Dark Side of the Tokyo 2020 Summer Olympics,” focused on labor issues at the new national stadium and the Olympic village — the two centerpiece venues for the Tokyo games.Japan, with an aging and declining population, is short handed in many industries. The government has provided more visas for construction workers tied to the Olympics, and in April started allowing more foreign workers to reside in the country.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsAmbet Yuson, general secretary of Building and Wood Workers’ International based in Geneva, Switzerland, said the critical report had been sent to IOC president Thomas Bach.“We were informed by the IOC that they are in direct contact with the Tokyo 2020 to find remedies,” Yuson said in an email to the Associated Press. View commentslast_img read more

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