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HOUSTON The National Hurricane Center released Thursday its official 76 page report on Hurricane Harvey and its impacts on Texas and the rest of the United States. history, after accounting for inflation, behind only Katrina in 2005.

“The latest NOAA damage estimate from Harvey is $125 billion, with the 90% confidence interval ranging from $90 to $160 billion. The mid point of the estimate would tie Katrina (2005) as the costliest United States tropical cyclone, which was also $125 billion.”

READ Full report National Hurricane Center data

“At least 68 people died from the direct effects of the storm in Texas, the largest number of direct deaths from a tropical cyclone in that state since 1919,” the report stated.

In Southeast Texas there were 19 deaths attricbuted to the storm and its aftermath with five in Jefferson County, nine in Orange County, one in Hardin County and two each in Newton and Jasper County.

In August 2017, Harvey rapidly intensified into a category 4 hurricane before making landfall along the middle Texas coast. The storm stalled, with its center over or near the Texas coast for four days, “dropping historic amounts of rainfall of more than 60 inches over southeastern Texas.”

“Harvey was the most significant tropical cyclone rainfall event in United States history, both in scope and peak rainfall amounts, since reliable rainfall records began around the 1880s. The highest storm total rainfall report from Harvey was 60.58 inches near Nederland, Texas, with another report of 60.54 inches from near Groves, Texas.”

At least 160,000 structures were flooded in Harris and Galveston counties, according to the NHC report.

Outside of the Houston area, serious flood damage was reported farther east in Jefferson, Orange, Hardin and Tyler counties, with about 110,000 structures flooded.

Other notes from the NHC report:

In Southeast Texas. “Beyond the Houston metro area, the most serious flood damage was noted farther east in Texas over Jefferson, Orange, Hardin and Tyler counties, with about 110,000 structures (about one third of the total structures damaged by Harvey) in those counties flooded.

Flooding induced by widespread rainfall amounts of 40 inches resulted in several oil and gas refineries in the Golden Triangle area (southeastern Texas between Beaumont, Port Arthur and Orange) going offline for days, and consequently gas prices in the United States spiked to their highest levels in two years.

Record water levels were seen on Pine Island Bayou, the Lower Neches River and Cow Bayou.

A bridge collapse occurred at the Highway 96 Bridge over Village Creek near Silsbee, and flood

waters inundated parts of I 10 in Rose City, Vidor and near the city of Orange.

Historic flooding was also reported in many cities across these counties, including Port Arthur, Lumberton, Warren, Groves, Bevil Oaks, Sour Lake, Hamshire, Fannett, China, Silsbee, Lakeview, Mauriceville and northeastern Beaumont.”

In Jefferson County. “The heaviest rain shifted eastward into Jefferson County on 28 30 August, which was located in the deformation zone and near the stationary front (Fig. 15), leading to the absolute rainfall maxima in that area.

Harvey also produced heavy rain over Louisiana,
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with a peak amount of 23.71 inches recorded west of Vinton.

Radar data, however, suggests an estimate of about 40 inches for a maximum value, which is considered more representative of peak rainfall in that state since there were few observations over extreme southwestern Louisiana”

Major to record flooding occurred in Liberty County along the Trinity River with numerous roads inundated including FM 787. Many homes and subdivisions were either cut off or inundated, specifically north of the city of Liberty and in the Grenada Lakes Estates subdivision. Significant damage occurred along the banks of the river due to high flows and several utility lines were severed due to the loss of poles in the vicinity of the Romayor gauge. Record river levels were also observed on the east fork of the San Jacinto River causing significant flooding in Cleveland, Williams and Plum Grove. High flows caused significant scouring of the state 105 (business) road; other roads were washed out as well, with bridge washouts or closures observed in many parts of the county. At least 1,000 homes were damaged in the county.

In Chambers County, record floods over the lowlands occurred along the Trinity River. Cedar Bayou was out of its banks in many locations, with significant flooding observed in Baytown. Numerous roads and homes were inundated across the county, including extensive flooding in the Milam Bend subdivision. High flows from the Trinity River impacted the navigation community for several weeks. An estimated 3,000 homes were damaged, and numerous businesses had significant damage.”

“In Fort Bend County, major flooding occurred with both the Brazos and San Bernard Rivers experiencing record floods. Major to record flooding occurred along the Brazos River from Richmond to Rosharon. Significant home flooding occurred in areas of Simonton, Richmond, Rosenburg, and Thompsons. Nearly 200,000 people were evacuated due to levee concerns and restrictions. Major to record flooding also occurred on the San Bernard River at both East Bernard and Boling, with the hardest hit area being Tierra Grande. At least 8,500 homes in this county were damaged by Harvey.

In Brazoria County, the Brazos and San Bernard Rivers experienced record water levels, which caused widespread floods across the county. The hardest hit communities were in Baileys Prairie, Richard and West Columbia. Widespread major flooding on the Brazos River and Oyster Creek led to numerous roads and homes flooding in Columbia Lakes, Mallard Lakes, Great Lakes, Riverside Estates and the Bar X Ranch subdivisions, as well as homes on CR 39. Flooding damaged the bridge over Cow Creek at CR 25, making it impassable. Major flooding also occurred along the San Bernard River at Sweeny with widespread inundation of the west floodplain. The Phillips 66 refinery took on water near Little Linville Bayou. Hanson Riverside Park was inundated, and water overtopped the Phillips Terminal, halting all vessel traffic. High flows from the Brazos and San Bernard Rivers caused navigation problems for several weeks. Over 9,000 homes experienced flood damage from the storm.

In Wharton County, widespread catastrophic flooding occurred from both the Colorado and San Bernard Rivers, causing Highway 59 to close between Hungerford and El Campo. The flooding inundated areas of Wharton, with hundreds of homes and businesses under water in many communities including Hobben Oaks, Bear Bottom, Elm Grove, River Valley and Pecan Valley. Other areas such as Glenflora, Peach Acres and the Orchard were hard hit. Major to record flooding also occurred on the San Bernard River at both East Bernard and Boling, with the hardest hits areas being El Lobo and New Gulf. Major lowland flooding occurred with many homes (including some on the second story) and businesses being inundated, and the cotton crop was decimated. An estimated 2,000 homes were damaged or destroyed in the county.

PHOTOS: Animal rescue during Harvey

Major lowland flooding occurred in Matagorda County along the Tres Palacios River. Many roadways were under water, and homes in the El Dorado Country, Oak Grove, and Tres Palacios Oaks subdivisions flooded. Major flooding also occurred on the Colorado River at Bay City as levees were overtopped by 2 ft of water. High flows from the Colorado and Tres Palacios Rivers impacted river navigation for several weeks. Roughly 2,900 homes were damaged in the county.

In San Jacinto County, major lowland flooding occurred on the Trinity River near Goodrich with damage and debris noted near the boat ramp and channel in proximity to the river gauge. Major flooding occurred upstream near Lake Livingston, with roads and many homes south of the lake being inundated. About 3,
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300 homes were damaged in the county.

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Inca Tea is piping hot.

Its path hasn’t been without hiccups or hurdles, but it has been steady since its founding four years ago. And the company’s most recent investment will bring a significant amount of production to its headquarters in Cleveland’s Slavic Village.

Ryan Florio started the purple corn tea company in February 2014, inspired by a trip to the Inca Trail in Peru a couple years earlier. That first year, the company was based in Florio’s parents’ home and sales were a little less than $50,000. In 2018, the company has its own headquarters in Slavic Village, with plans to soon open a freestanding cafe nearby, and Florio expects the company’s sales to reach $1 million, including franchise fees and proceeds from a licensing agreement.

Up until now, the company has outsourced the manufacturing of its main product: bagged tea. But Florio, who describes himself as the company’s TeaEO, has wanted to bring that in house since the beginning.

At the end of January, Inca Tea received two Fuso machines, one to make tea bags and one to automatically put those bags into envelopes. The machines, which cost about $300,000 together, can make rectangular or pyramid tea bags, turning them out at 80 bags a minute.

The addition of the machines will lower production and shipping costs and allow the company to package just in time products, Florio said. The company will no longer have to meet an outside co packer’s minimum run requirements. Inca Tea will continue to get the majority of its tea blended off site, but will now package all of its bagged teas and assemble the boxes in house. It has six different blends of bagged tea available, in addition to a variety of looseleaf blends, which the company also packages in tins on site in Cleveland.

And Florio is looking to use the new equipment to serve as a co packer for other companies, a business he’ll run under the name Burning River Tea Co.

“Right now, my current production would maybe occupy that machine about a month out of the entire year,” Florio said. “So I’ve got 11 months that machine sits dormant that I can co pack for other people.”

Inca Tea has stretched its reach in other ways, too. Last year, Florio had hoped to begin bottling tea. Instead of doing that on its own, Inca Tea entered into a licensing agreement with a local company to produce Inca Buch, a bottled kombucha. Inca Tea receives 10% in royalties for the product, Florio said, and with the parameters the company has set, it is set to receive at least $25,000 from the agreement. The product entered the market in September.

Inca Tea has also begun making unpackaged blends for restaurants and cafes and partnered with Cleveland’s Platform Beer Co. to create a cider with its chai blend, both in the fourth quarter of 2017. Last year, Inca Tea made about $600,000 in sales, Florio said.

One plan for 2017 that didn’t come to fruition was the opening of a cafe at the company’s then new headquarters at 6513 Union Ave.

“If I can’t do something the right way, whether it’s packaging, or the perfect blend of tea, I’m not going to release it to the public,” Florio said. “And this wasn’t the right thing.”

Instead, Florio and his business partner and good friend, Zach Colodner, bought a building at 5601 Broadway Ave. in May of 2017, where Inca Tea will soon open a freestanding cafe. In total, Florio and Colodner now own seven buildings in Slavic Village, the majority of which will be rented out. Those were purchased in 2016 and 2017, and Florio said the two have spent about $700,000 in total. That includes renovation of the space for the Inca Tea warehouse and cafe, as well as the purchase of all seven buildings, he said.

Christopher Alvarado, executive director for Slavic Village Development, said Inca Tea’s investment in its headquarters on Union Avenue is helping to change the perception of the neighborhood. He doesn’t think the Cleveland Chain Reaction investment competition a program inspired by LeBron James’ “Cleveland Hustles” reality show would have come to Slavic Village if it wasn’t for Inca Tea. That competition is leading to the opening of some new small businesses. (Inca Tea took part in the program but didn’t end up receiving any investments.)

Alvarado said it’s “meaningful” to see a company like Inca Tea show that work can be done in less expensive neighborhoods like Slavic Village, which sits on Cleveland’s southeast side. Slavic Village has a strong location and a high commercial vacancy rate, but its historic buildings need a lot of work to be habitable again, he said.

Anisa Rrapaj, managing partner at Inca Tea Cafe, expects the Slavic Village cafe to open within two to three months. In addition to the tea, that location will have food, coffee and a kombucha bar. The cafe will be about 1,400 square feet, more than double than what the original plan would have offered, Florio said. The Broadway location also has more traffic passing by it every day than the headquarters on Union, and parking will be less of a problem there.

Inca Tea also has plans to open a second cafe at Cleveland Hopkins International Airport, where its first cafe is located. The new location is expected to open in February. Rrapaj said she will manage all three of the company’s cafe locations. Florio recently hired 15 new employees for the cafes, bringing Inca Tea’s total employment to 24 full time and part time workers.

Rrapaj got her start at Inca Tea about three years ago as a part time barista, but Florio’s “passion and dedication” has inspired her to stick with the company and help him grow it.

Both new cafes will be franchises. Florio and Rrapaj will be the owners of the new airport cafe, while the Slavic Village location is a five person partnership that includes Florio, Rrapaj and Colodner. Though Florio has gotten interest over the years from people who wanted to franchise Inca Tea, he wanted to make sure he had the right people behind those franchises.

“I’m still in that process of building my brand,” Florio said.

And now, he has three models for potential franchisees to choose from, as well. So far, he said he’s gotten interest from people who want to set up franchises in other airports across the country, and he plans to do some site inspections in the next couple of months.
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East Midtown isn far from Trump Tower, but it an area built for Hillary Clinton: 54 percent of voters are white women and nearly40 percent of female residents are over 40.

“I’m a life long ultra liberal Democrat,” said Juliana Nash, 78, Murray Hill resident and Eleanor Roosevelt Democratic Club member. “She’s wonderful, I think Hillary has experience.”

Another potential key factor favoring Clinton: voter turnout is historically high in the area, with about three quarter of eligible voters usually casting ballots.

Tiffany Townsend, district leader of the Eleanor Roosevelt Democratic Club, said older residents typically take strong interest in elections. She said it’s different for some younger people in the area. “Students just out of undergrad or in graduate school don’t always see themselves in the neighborhood in the long term,” she said.

Local women interviewed said it time, after the first African American president, to make history again by electing the first female president.

Molly Hollister president of the Kips Bay Neighborhood Alliance, called Clinton a voice. Trump, she said, is all the wrong buttons, so I think a lot of women are planning to vote for Hillary.”
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A lot of things aren’t like they used to be, but every once in a while, you can find a little corner of the world where change has not erased the reality of the good old days. One of those places is the Kumback Caf in Perry.

Founded in 1926, the Kumback claims to be the oldest caf in Oklahoma with the same name and same location.

The original building burned in 1941, but, like the Phoenix, it was resurrected and remains a fixture on the north side of the town’s courthouse square. It was first owned by Eddie Parker, who was legendary not only for his good food but for his generosity. Many stories are told about famous and infamous people who have eaten here.

The original caf was tiny only six stools at the counter. One night, in the ’30s, a gunman entered the eatery. “You need to tell your customers to leave,” he told Eddie, who was cooking behind the counter. Eddie complied and locked the door as the other diners left.

From seeing a limo outside, Eddie knew this wasn’t any ordinary stick up. The gunman told Eddie he wasn’t there to rob the place. “I want the biggest steak in the house,” he told the wary owner.

The unwanted guest put his gun on the floor and sat on one of the stools, talking, as Eddie cooked steak and eggs. “He was kind of pleasant,” Eddie related later. “He ate and paid his bill $1.50 and left the biggest tip I’d ever had, 10 or 20 dollars.”

As Eddie unlocked the door, the man turned to him and said, “Do you know who I am?”

“No, sir,” Eddie replied.

“I’m Pretty Boy Floyd,” he said, as he went out the door.

It was a story that Eddie dined on for many years. The Kumback, officially named Kumback Lunch, became a gathering spot for the whole town of Perry and any notables who were passing through. Politicians campaigned here and Gov. Marland was a regular visitor. He even loaned Eddie money when things got difficult during the Depression.

During World War II, Eddie gave a free steak to any soldier in uniform. And any member of the Perry baseball team who hit a home run got the same treatment.

And he gave a job to 13 year old Tony Macias, a budding athlete in the town. Tony went on to attend the University of Oklahoma where he was a standout wrestler, named All American in 1960. Tony married his high school sweetheart, Marilee, and the couple moved to Oregon where he was coaching at a junior college.

Eddie, in the meantime, had turned the operation of the restaurant over to his wife, Kate. She ran the business until 1973. When she was ready to retire, she remembered Tony and called him to see if he would be interested in buying the restaurant. Tony and Marilee returned to Perry to continue the tradition of the Kumback Caf.

The restaurant has grown through the years, but some things haven’t changed. The Art Deco marquis still hangs over the door, its neon sign signaling a great place to stop for a bite. A section of glass tiles accents the deco dcor.

Inside, the walls are covered with years of photos of celebrity visitors, local sports teams and vintage signs. There’s even an OSU Pistol Pete on one wall. Tony, true to his Sooner roots, likes to tell folks that it was an Aggie who named the caf, trying to spell “Come Back.”

There are lots of reasons to return. Almost everything is homemade. Barbecue is a favorite selection, but, for me, there’s only one true test of a good Oklahoma restaurant chicken fried steak. Tony cuts the meat himself and it’s all fresh and hand breaded. It’s served with real mashed potatoes you’d be surprised how many restaurants use instant and cream gravy. The meat was so tender I could cut it with my fork. The gravy was smooth and creamy with just a kick of pepper.

No one should leave without a piece of pie all home made either by Tony or by Nancy Alexander, who has been baking for the Kumback for 15 or 20 years. Coconut is the most popular selection but I went for the lemon meringue worth every calorie.
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After months of extensive renovations to the bar, dining room and kitchen, DiCillo Tavern this week to a gleeful, elbow to elbow crowd, which included longtime patrons and city officials.

here to recognize the DiCillo family, said Mayor Anthony DiCicco. a great family, what a great establishment. We lucky to have such a wonderful neighborhood bar in our community. It my pleasure to be here.

stayed open the entire seven months, said Annette DiCillo, who owns the business with her father, Pete. bar never closed, so we still had our regulars coming in. We closed the kitchen in May last year and worked on renovating the dining room, too. We tackled this project in two phases.

why it took longer than anticipated, DiCillo said of the family funded project. crew had to reload everything when they were finished for the night. We couldn afford to close we didn want our customers going anywhere else.

has been redone, from the ceiling to the floor. We added new items to the menu, and we run specials all week. Every hour is happy hour here. Dine in specials will be $1 off every $5 spent on food.

The bar/restaurant, which staffs seven full time employees, will now be open on Saturday evenings.

lot of bars didn have food every day years ago, said DiCillo,
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who worked at the tavern for 35 years in about every capacity, and lived upstairs from the bar for a time. all the big places started coming in and we felt it was time.

Prohibition was repealed, we were the first liquor license east of Belvoir (Boulevard), DiCillo said. grandfather worked the bar until 1954, when he bought it, just after my father was discharged from the U. S. Air Force. My father then went to work with him. There is so much history here.

place was always a melting pot, and it changed but also stayed the same over the years, the 70 year old retiree said, between sips of Miller Lite. from all professions came in here. You had lawyers, doctors, electricians, carpenters, you name it. It just remains a good, neighborhood place, like the mayor said.

in here every day, and I would always come here instead of the library, Kalous laughed. was always a second home to a lot of people, and it still is. The DiCillo family is the best. They are Mayfield. Pete is a great guy;
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he give you the shirt off his back. You always welcome here. This new look doesn change the old feel.

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Council also voted to close smaller portions of Spadina, 11th Street West and Avenue H South so a perimeter fence can be built to protect the water treatment plant. Council voted unanimously to close Spadina south of the plant almost all the way to the Gordie Howe Bridge.

Coun. Hilary Gough, who represents the King George neighbourhood where the plant is located, voted alone against the three road closures near the plant, calling the issue huge struggle. spent two and a half hours debating the matter and hearing from 14 speakers, most of whom opposed the closures.

been dreading today for quite some time, Gough said during council public hearings. is very frustrating. It frustrating because we been talking about this for a very, very, very long time. closure of the small portions of roads so the fence can be built stems from an assessment by Public Safety Canada (PSC) that recommended a more secure facility. Saskatoon water treatment plant is the only known plant of its kind in North America dissected by a road, Avenue H.

Closure of the longer stretch of Spadina was recommended by the city administration to prevent motorists from taking shortcuts through residential neighbourhoods, particularly Holiday Park. The speakers in favour of the Spadina closure live in Holiday Park. About 600 vehicles use that stretch of road daily in the summer and about 220 use it daily in winter.

are really tough issues and I really struggle with them, Coun. Randy Donauer said. actually hate closing public access to the river at any time. speakers dismissed presumed concerns about terrorist attacks as unlikely to be prevented by a fence. Coun. Troy Davies noted the greater security is directed at preventing more mundane threats, like a vehicle colliding with the plant.

Donauer said he locks the door to his home, even though he knows it will not prevent all threats.

won stop everything,
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he said. won stop a terrorist attack or a drone attack. also cited the recent spate of suspicious packages in the city and noted the plant provides water to nearly a third of the province residents.

would have never thought I see a bomb go off at a provincial courthouse here in Saskatoon and one did just a few months ago, he said.

Barb Stefanyshyn Cote, who operates a distillery south of the city, said she came to speak on behalf on 15 businesses in the area that rely on access to Saskatoon via Spadina.

Stefanyshyn Cote said closing down Spadina would create a dark back alley. The city plans to take steps to make sure the area remains safe.

She also questioned whether protecting the plant is worthwhile, since the water intake facility is located farther south, outside city limits.

probability of a terrorist attack in Saskatoon, Saskatchewan thank goodness is very low, Stefanyshyn Cote said. are not Manchester, England. Jorgenson, the city general manager of transportation and utilities, clarified that the city was not compelled to follow the recommendation from the PSC assessment. The administration and plant management have long supported a more secure facility, he said.

Closing the roads and building the fence is expected to cost about $1.6 million.

Several speakers suggested council was being steered by an inflexible administration determined to close roads unnecessarily.

walls will not secure our water supply, said John Dubets, past president of the King George Community Association. will only consolidate a bureaucratic empire. Randy Rooke of the Rural Municipality of Corman Park appeared before council to reiterate the RM opposition to closing Spadina.
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In our never ending quest for truth, justice and the American way, I like to start off this portion of my new era of commentary with a serious complaint.

It has to do with entertainment needs of people my age (26 90) when they are watching television, and I sorry to have to tell you this but some of them have nothing else to do. They need to know what they are watching.

If we can all get together and help by writing this column and you by spreading the word and talking about it, think how much better the world would be.

There is very little information being published to inform the unsuspecting public what it might be watching on television.

One example is when fans are watching a basketball game on television. They are so totally concentrated on watching the game that when commercials come on they are unable to concentrate on the ads, missing any information the networks like to put out about upcoming movies or other important ads.

Now I must interrupt this commentary because I must let you in on some inside information.

I am going to reveal the identities of my two new executive assistants.

Assistant number two is my younger daughter, Kimberly Cleary. She is chief typist. And please don add washer to this title. Far too many people add bottle washer to titles because they think it is funny. But most of the time it is not funny and half the time it is not even true. So, let us agree that Kimberly does the typing but does not wash any bottles. If she does,
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I am not aware of it.

Assistant number one is my older daughter Diane Sicurezza who does not do any typing.

Please note that I referred to her typing the column. Actually, it is entered into a computer, but I do not have the space here to explain the difference between typing and entering something into a computer.

Please be advised that they both mean about the same thing.

As far as Andrew is concerned, he has not broken anything yet but because he is my great grandson, if he does all is forgiven.

Here is my serious complaint referred to above: The Turner Classic Movie Channel is no longer publishing its monthly magazine called NOW PLAYING.

This an egregious mistake.

I could probably give you a thousand examples of why dropping the publication was a mistake. It was a veritable gold mine of information about the films on TCM. There is nowhere else I know of where you can now get all this information.

Cable television where I live is a whole other subject. It is next to impossible to watch an entire professional or college football game where I live. It is not the fault of the people who provided the network and it is certainly not my fault.

Every time I bring this problem to his attention, Nino comes rushing to my place to try to fix it. But there is nothing he can do and I sympathize with him. Afterword we spend a lot of time talking about the problem. Nino works for the retirement community where I live, Vista Springs Quail Highlands.

It is an impossible situation.

I have been dealing with impossible situations for many years. They all seem to come full circle after a while. For example, building the Perry Nuclear Power Plant and Lost Nation Road were at one time impossible situations but like all impossible situations they become straightened out in time.
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In early April 2012, President Obama signed into law two separate acts that will have a profound effect on hedge funds. The implications of these two new laws, the JOBS Act and the STOCK Act, are discussed below.

The JOBS Act: allows advertising in hedge fund offerings and increases the permitted number of investors in certain funds

On April 5, 2012, President Obama signed the Jumpstart Our Business Startups Act (JOBS Act). In addition to crowdfunding and emerging company IPO rules that have little if any relevance to private fund advisors, the JOBS Act (i) removes the general solicitation and general advertising prohibition for offerings made pursuant to Rule 506 of Regulation D of the Securities Act of 1933 (Securities Act); and (ii) raises the equity holder threshold in the Securities Exchange Act of 1934 (Exchange Act) that triggers public company reporting from 500 to 2,000 persons. These amendments represent significant changes to the regulations governing the offering process for private funds and the manner in which issuers may conduct these offerings.

Rule 506 is the safe harbour for private placements on which most hedge funds rely to avoid Securities and Exchange Commission (SEC) registration as a public offering.

The JOBS Act directs the SEC, within 90 days of enactment, to revise Rule 506 to eliminate its current prohibition on general solicitation and general advertising provided that the only purchasers in the private fund are ccredited investors The SEC rules must require an issuer offering securities pursuant to Rule 506 to take reasonable steps to verify that purchasers of the securities are accredited investors, using such methods to be determined by the SEC.

Practically speaking, sponsors of private funds under Rule 506 will have a much broader array of marketing tools at their disposal. Pending the enactment of the SEC rules, which could contain further restrictions, a sponsor may be able to use advertising, newspaper or magazine articles, public Internet websites, media broadcasts and interviews, social media, mass email campaigns, and public seminars or meetings to solicit investors and sell interests in the private fund as long as all of the actual investors are accredited. The use of advertising eliminates the method in place today, where a sponsor must have or establish via narrow protocols a substantive pre existing business relationship with a prospective investor.

These developments add flexibility but may not represent unmitigated positives for fund managers. The removal of the ban on general solicitation does not refer directly to Securities Act Section 4(2). Thus, sponsors of private funds should be aware that if they broadly advertise as they are now allowed, they may not be allowed to fall back on the exemption from registration under Section 4(2) if they fail to satisfy the exemption under Rule 506. Also, the duty to verify accredited status is a departure from current law that allows a fund to rely on a representation from an investor in the absence of a reason to doubt it. Finally, antifraud rules and specific advertisement content rules, especially for registered advisors, may be a trap for the unwary advertiser.

The JOBS Act may have unintended consequences on other various laws that currently do not permit general advertising and with which sponsors of private funds must comply. For instance, one exemption from registration as a commodity pool operator requires that the fund interests are sold ithout marketing to the public and the federal oreign private adviserexemption and certain state laws prohibit unregistered investment advisers from olding themselves outas advisers to the public. At this time, it is uncertain how engaging in general advertising will implicate these laws.

Important note:Because the JOBS Act does not directly amend Rule 506, there may be some questions as to the precise extent of the relief from the general solicitation and general advertising prohibition, if any, until the SEC promulgates its rules on the topic. It is also possible that the 90 day deadline for adoption of such rules could be extended.

Headcount limit raised to 1,999

The JOBS Act amends the Exchange Act to provide that an issuer is not required to register its securities with the SEC (and thus become subject to public company reporting requirements) unless it has a class of equity security (other than an exempted security) that is eld of recordby either (i) 2,000 persons or (ii) 500 persons who are not ccredited investors The JOBS Act would thus significantly increase the 499 record holder limit with which private funds relying on the exemption from registration under Section 3(c)(7) of the Investment Company Act of 1940 must currently comply. Funds exempt under Section 3(c)(1) of the Investment Company Act are limited to 100 beneficial owners, so this change has no impact on them.

It appears that 3(c)(7) funds will no longer be limited to 499 investors but may have up to 1,999 accredited investors.

The STOCK Act: prohibits trading based on material nonpublic information

On April 4, 2012, President Obama signed the Stop Trading on Congressional Knowledge Act (STOCK Act). This law prohibits members of Congress and other federal government officials and employees from trading on material nonpublic information they obtain based on their position or responsibilities. citizens for purposes of the federal securities laws. The existence of such a duty previously had been subject to scholarly debate.

Information obtained indirectly may be considered insider trading

By explicitly imposing such a fiduciary duty on governmental persons, the STOCK Act makes clear that trading on information obtained through government channels can serve as the basis for a federal securities law violation. As a result, hedge funds that obtain material nonpublic information from lawmakers or other public officials can be exposed to potential liability. The law prohibits ipping that is, when a person who obtains material nonpublic information in violation of a fiduciary duty provides the information to another person who trades on it. The tipper and tippee can both be liable for insider trading. Liability can also extend beyond the first recipient and apply to other recipients further down the chain. The isappropriation theoryextends liability for insider trading to outsiders who trade while in possession of material nonpublic information in violation of a fiduciary duty.

Where a public official passes prohibited information directly or indirectly to a hedge fund that in turn trades on it, the fund and its managers can be held liable for insider trading if they were aware the information was material and nonpublic.

As demonstrated by the recent wave of prosecutions involving the use of expert network firms by hedge funds, the government has aggressively pursued insider trading cases based on this theory of liability.

The final version of the STOCK Act did not contain reforms targeted at political intelligence firms but rather requires a study of the industry by the comptroller general.

Sponsors of hedge funds must be aware of the ramifications these two new laws will have on their ability to solicit new investors and their ability to trade based on nonpublic information received from governmental officials.

Scott R. MacLeod has spent 100 percent of his practice over the last 22 years forming and representing investment funds, investment advisers and related investment management clients. He has formed and represented a wide spectrum of investment funds and investment advisers including hedge funds, mutual funds, private equity and venture capital funds, offshore funds, group trusts, and bank collective and common trust funds. Mr. MacLeod has also represented investment advisers, banks and their trust and investment departments, and pension plans as institutional investors.

James S. Crenshaw practices exclusively in the area of investment management, primarily forming and advising hedge funds and investment advisers.

Christopher P. McHugh is an associate in the firm’s Public Companies and Securities Practice. He concentrates practice on the formation and representation of investment funds, including hedge funds and private equity funds. He also advises institutional investors with respect to their fund investments.

Amy R. Rigdon practices in the area of corporate and securities law. Her practice includes investment management, mergers and acquisitions, general corporate law, and litigation. Specifically, her experience includes forming and providing counsel to investment advisers and onshore and offshore hedge funds. Ms. Rigdon advises clients on a range of matters, including federal and state registration and exemptions, compliance with state blue sky laws, fund offering documents, commodities registration and exemptions, legal fiduciary obligations of investment advisers and broker dealers, and various compliance and regulatory issues. Additionally, Ms. Rigdon’s practice includes drafting private placement memoranda for funds, drafting fund contracts with service providers, and drafting registration statements, amendments and withdrawals for investment advisers. She also has experience with derivative transactions and civil litigation. Ms. Rigdon is a member of the firm’s Investment Management team.
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The would like to thank the community for their support in this case.

This is a developing story and will be updated as more information becomes available. and discovered what appeared to be a disturbance with some items missing. She walked out of the house to call 911, and IMPD responded on a robbery call.

Police found a 75 year old man inside of the home.

Now,IMPD said they are searching for a 2015 white Ford Mustang that was taken from this morning’s scene.

The license plate number is 590JMT. IMPD said occupants of that vehicle are wanted for questioning in connection with the murder. If you see the vehicle you’re asked to call 911.

Initially, IMPD put out a search call for his stolen Hummer, but they later located it in the neighborhood around noon.

Neighbors said the vehicle had been sitting on the street for a few days.

“I noticed that Hummer has been sitting there for quite a few days and I thought that was out of place, because I knew nobody owned a hummer in that corner,” one neighbor said.
Discount mulberry discount store Outlet IMPD locate white Mustang sought after death of 75

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Getting behind the wheel of a vehicle while under the influence of alcohol or drugs is not only very dangerous, but is likely to result in costly, perhaps even life altering expenses.

Often a DUI charge leads to a suspended driver license that brings with it additional cost and difficulties.

In Municipal Court recently a Minot man pleaded guilty to a second charge of driving under the influence/actual physical control and driving under suspension. His court ordered fines and fees amounted to $1,950. However, when additional expenses were included, his out of pocket costs for 2017 due to DUI/DUS exceeded $3,300. He also was sentenced to one week in jail.

That was just the start. Additional costs would come from license reinstatement fees and increased insurance cost, if an insurer could be found.

A DUI offense can result in suspension of a driver license. Court fines and fees for driving under suspension is set at $275. If a chemical dependency evaluation is ordered the cost is variable dependent upon income but can be as much as $444.75. In addition there is $150 due to the Department of Transportation. A DOT reinstatement fee, alcohol related, is $100.

If an offender is required to enroll in the 24/7 sobriety program, which is conducted through the Ward County Sheriff Office, there are additional costs as well. Offenders are required to pay $2 per day. Most are enrolled for a year, meaning an additional expense of $730. Some will choose an even more expensive method of monitoring.

have a Scram bracelet that priced at $120 dollars with a $50 activation fee, said Chris Ray, Ward County sheriff office. also five dollars a day but it allows people a little more leeway, or freedom, if they can come back at prescribed times. They are paying for convenience. court sometimes orders those charged with DUI to attend a Victim Impact Panel. The cost of attending a Victim Impact Panel, $50, is the least expensive item on the list but can have one of the most influential impacts on a person life. Joni Anderson oversees the Victim Impact Panel at Rehab Services of Minot.

Anderson urges everyone to before you drink and have a plan to get home safely. That the main message conveyed during sessions of the panel where impaired drivers face the reality of their actions. Because many victims of impaired drivers don want to relive the experience, Anderson says she often calls upon professionals to bring home a message.

have a retired highway patrolman who talks about accidents he come upon, said Anderson. Zietz, a former police officer, talks about making better choices in their lives. She tells them to look in the mirror and start fresh.
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