‘No Profit’ amid Soaring Exchange Rate

first_imgAs part of its regular reporting strategy on the economy, the Daily Observer’s Business Desk Thursday, June 12, visited the Waterside Market, where several Liberian-owned businesses complained of hardship which they blamed largely to the skyrocketing of the exchange rate between the United States and Liberian dollars.The markers say they are selling at a loss and sometimes even as wholesalers and distributers continue to sell to them at higher price.The US dollar is traded at L$89 for US$1, even as high as L$90, in some places. With the rising depreciation of the Liberian dollar to the US dollar, the marketers want some kind of action taken by the government to mitigate the situation.The fact that these local businesses keep the wheel of the economy turning at the bottom level on a daily basis, they represent very crucial players because they buy and sell what the ordinary population eats and uses every day.Therefore, every major thing that affects their businesses directly affects the households—-that is how important and critical these marketers and petty traders are to the economy.Earlier this week, our business desk was at Rally Time Market where marketers expressed their frustration at President Ellen Johnson Sirleaf, accusing her of poorly managing the economy.They said they are angry with the President for doing little or nothing to arrest the rising exchange rate situation and punish businesses for unlawfully hiking prices.The team later moved to Waterside Market Thursday where scores of small business owners, once again, raised similar complaint against the President including the rising exchange rate and inflation.Mr. Joseph Fayia Korbengai, who trades in flowers at the Waterside Market, noted that the soaring foreign exchange rate in the country is causing problem for him and other smaller businesses, thereby dipping their profit levels.Mr. Korbengai, who says that he buys the flowers by parts from wholesalers for L$250 or L$300, noted that he modifies the flowers and design them before selling.He currently sells a well-designed flower bucket for US$10.00. “I used to sell the bucket for L$500.00 when the price was down,” he said. “But because of the sharp increment in the US rate, Korbengai explained “everything has gone up.”This man emphasized that his profit has plunged as a result of the inflation. “My wife and I are sustained from this business, but with low profit, things are tough,” Korbengai said.He suggested to the government through its requisite agency to help provide loan scheme for small Liberian businesses that would help empower them.This Liberian entrepreneur observed that access to finance remains a major challenge for small businesses because small businesses are not strong enough to meet with the collateral requirements by banks and other financial institutions.For her part, Madam Rebecca Sonpon, multipurpose shoes seller, added: “the market is very hard.” According to Madam Sonpon, the price of feet wear cartoon has climbed from US$80 few months ago, to US$125.She noted that at times people buy her goods and sometimes business remains at standstill.Madam Sonpon strongly complained against the foreign exchange market which, she said, is affecting her market greatly, including other small businesses owned by Liberians.Also speaking with our business desk were scores of Yana-boys, who were busy selling used clothes. They also complained about the foreign exchange market as a major determinant for the increment in the prices of goods. George Baryogar, 20, warned that the people will continue to suffer if nothing is done about the foreign exchange challenge.Baryogar and his friends sell T-shirts and blouses at Randall and Water Streets intersection. As George and his friends were busy arranging their goods in the wheelbarrows in the rain, the young guys didn’t forget to tell their government about the suffering being endured by the masses amidst the economic challenge. They called on the government to step in quickly and rescue its people.“The prices of goods are soaring every day, and we are suffering in our own country, but every time the President says the economy is getting better, where?” George Baryogar wondered.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

A Phoenix in Flesh:David Mell Returns Next Week

first_imgIt’s official! David Mell, has confirmed his return to Liberia.Like the mythical Greek phoenix, David Mell has risen from the near-fatal fire that threatened his face and his musical future, and will next week touchdown in Liberia for the first time since a year ago, when he was whisked off to South Africa for rest and recovery.“I’ll be returning home on May 7, 2014, I’m coming home. The number one reason is to see my family, which is personal though. Secondly, I’ll be getting ready for my USA tour and other things.”Time flies.  It has been about one year since the fire accident happened. Many have considered David Mell’s departure a dire necessity – the move that has saved his career.  What many might not quite understand is that Mell experienced unimaginable pain, physiological pain that required more medical attention out of the country. Some believe, however, the time away for David to properly heal from the traumatic and highly publicized burn incident has secured much hope for his career and helped him escape the stigma and uncertainty that could have followed if he had remained in Liberia.“I just came on this side to rest myself; I’ve been through a lot of trauma,” says David in his own words.  “Before being here my fiancée walked out of my life which brought me down and brought disgrace and trauma. Then the following year, the accident hit.  So I’ve been through a lot. I just wanted a new environment where I can go and just breathe and put myself together,” David told LIB Life in an exclusive Facebook Chat interview.According to David, his visit to South Africa was related to his physical health.“Secondly, I was also on medical, serious medication,” he continued. “My left arm almost got damaged from the accident; it was serious, very serious. I spent two months in the hospital in George in Western Cape province. I’m in Pretoria, just north of Johannesburg right now.”Meanwhile, David is all set and prepared to come back home. When asked what he expects from his fans as a welcome home gesture, Mell teasingly says he should be the one handing out the gestures for his undying appreciation towards his fans and their affection.But, according to the Melody Maker, South Africa has been treating him fairly well and will be missed upon his departure.“South Africans love me mainly because of my nationality.  Liberia’s like a hot place [to them] right now; everybody’s talking about it”, he says. “Being a celebrity from [Liberia], I have special attention out here, but can’t wait to get home because I miss the food.”With an expected Appreciation Concert set for May 17, 2014 at the Royal Plus International in Paynesville, David says that he’s ready to show his appreciation to his fans that prayed, fasted and supported his recovery.“I’m so grateful because of what my fans did for me after the accident when I was in the hospital,” he said. “I think I should be the one saying thanks to everybody. That’s why we’ve organized the appreciation concert at the Royal Plus International.”Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Case management system for courts lags

first_imgImplementation is also being delayed to give the staff time to make sure the system would work at all the county’s courts, officials said. The county has already invested heavily in the system and intends to have it in place eventually, Clarke said. Between 2002 and 2006, county officials spent $1 million on staffers to work on the project and another $1 million on equipment, he said. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Los Angeles County courts are lagging behind other jurisdictions in rolling out a new statewide case management system they helped design. San Diego, Orange and Ventura County courts, which also participated in the system’s creation, intend to have the technology in place to handle all cases by the end of the year, officials from those counties said. But Los Angeles officials said they will have only small-claims cases on the system by March 2008, and only in one court, Alhambra. The county would need 12 more full-time information technology staff members – with salaries of $100,000 each – to begin to implement the system, which it cannot afford, said John A. Clarke, the executive officer and clerk of the Los Angeles County Superior Court. last_img read more

Close races in local water district elections

first_imgWilson received 298 votes or 29 percent; White, 275 votes or 26 percent; Stewart, 274 votes or 26 percent and Bolles, 192 votes or 18 percent. All three incumbents – Bolles, Stewart, 84, and Wilson, 68, touted their business and professional experience as well as time on the board. White, 66, also spoke of his business experience and raised concerns about the low rating the water system received in terms of dealing with fires. The three incumbents said the rating was based on misinformation. In addition, improvements are being made. ORCHARD DALE WATER DISTRICT Incumbent Joe Kennedy was elected, but challenger Yvette Stephenson-Rodriguez only led incumbent Clifford Lee by 15 votes. The fourth challenger, Clifford Briggs, was much further behind in this race for two seats on the board that serves much of unincorporated South Whittier. Kennedy received 347 votes or 37 percent; Stevenson-Rodriguez, 240 votes or 25 percent; Lee, 225 votes or 24 percent and Briggs, 134 votes or 14 percent. The race revolved around experience vs. change. Between them Lee, 77, and Kennedy, 84, have more than 40 years on the board. Both said this was no time for inexperience. Briggs, 56, ran his campaign, attacking the board’s decision in May to raise rates. Stephenson-Rodriguez, 37, the only candidate to spend more than $1,000, raised concerns about water quality. PICO WATER DISTRICT Incumbent Robert Martinez, 53, was re-elected, but the race for the second seat may be too close to call. Martinez, 53, received 477 votes or 43 percent; former Pico Rivera Councilman Rick Mercado, 73, 319 votes or 29 percent of the votes and former Pico Water director Richard Briones, 75, 304 votes or 28 percent. J. Fred Silva, Jr., did not seek re-election. A key issue in the race was divisions on the board. The district has been pushed to expand in recent years because of a redevelopment boom in Pico Rivera, growth which has spurred updates and improvements to pipes and valves in the all-well system. mike.sprague@sgvn.com (562) 698-0955, Ext. 3022 airan.scruby@sgvn.com (562) 698-0955, Ext. 3029 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREStriving toward a more perfect me: Doug McIntyre In the Orchard Dale Water District race, Yvette Stevenson-Rodriguez, led incumbent Clifford Lee by 15 votes. Following is a look at all of the area’s water district board races: LA HABRA HEIGHTS WATER DISTRICT Incumbents Roy Stewart and Robert Wilson and challenger Howard White were elected in the race for the Board of Directors. But Ralph Bolles, 85, who had been on the board since 1997 finished fourth in the race for three seats. Special Section: Get the latest elections news and vote tallies NORWALK – Two of three Whittier-area water districts ended up in nearly dead heat and probably are too close to call after Tuesday’s election. While 100 percent of the precincts were counted, uncounted are ballots voted absentee and provisional. Former Pico Rivera Councilman Rick Mercado led former Pico Water director Richard Briones by only 14 votes in the Pico Water District races. last_img read more


first_imgAgus deireadh tagtha le hOireachtas na Samhna 2011 i gCill Airne, Co Chiarraí, tá na hullmhúcháin tosaithe cheana féin d’Oireachtas na Samhna 2012, a reáchtálfar i Leitir Ceanainn, i mí na Samhna seo chugainn.Meastar gur chuir an fhéile seo, a dhéanannan ceiliúradh ar na healaíona dúchasacha Gaeilge, suas le €6milliún le heacnamaíocht Chill Airne i mbliana.D’éirigh léi na mílte Gaeilgeoir a mhealladh chuig an bhaile an deireadh seachtaine seo caite, chun scoth na hamhránaíochta agus rince ar an sean-nós, scéalaíocht, ceol traidisiúnta agus eile a bhlaiseadh. Beidh sé le borradh mór ar an eacnamaíocht áitiúil i nDún na nGall.Coverage of the Oireachtas in Kerry at the weekend can be found in today’s edition of Foinse, inside the Irish Independent. The paper features an exclusive interview with President Mary McAleese.© 2011 donegaldaily.com, all Rights ReservedThe copying, republication or redistribution of donegaldaily.com Content, including by framing or similar means, is expressly prohibited by law. Follow us on www.twitter.com/donegaldailyFollow us on www.facebook.com/donegaldailySell anything on www.donegaldailyclassifieds.comAR AIS I LEITIR CEANAINN -BÍGÍ RÉIDH d’OIREACHTAS NA SAMHNA 2012 was last modified: November 8th, 2011 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:a reáchtálfar i Leitir CeanainnFoinsetá na hullmhúcháin tosaithe cheana féin d’Oireachtas na Samhna 2012last_img read more


first_imgA 15 year old boy has been ordered to do 120 hours community service in lieu of six months detention after admitting attacking a retired nurse in broad daylight.The boy, who was just 14 at the time of the attack in Letterkenny last August, appeared in court with his parents at Milford District Court yesterday.The retired nurse, Mrs Anna McDaid, had to spend nine days in hospital after the attack which happened at 5pm in the afternoon as she was going to her local post office. She was dragged to the ground and was found unconscious by a passer-by while €300 was missing from her handbag.After her ordeal, her husband Joe said his wife still only had 50% use of her left arm and will still need reconstruction of her left shoulder.“She is trying to get on with her life but she will never be the same woman she was,” he said.Her attacker, who cannot be named for legal reasons, admitted later in court that he carried out the mugging because his parents had cut-off his pocket money.Solicitor for the accused, Kieran Dillon, said the boy was ashamed of what he had done and had since changed his life completely.He had now started playing rugby and found the discipline of the game very helpful and that he had also completed a FAS course.Mr Dillon said his client completely understood how Mrs McDaid’s life had been turned upside down and that his client was ashamed of his behaviour.He also offered a further €500 in compensation and a letter of apology to Mrs McDaid.Judge Paul Kelly said the boy was very fortunate that his solicitor had made such an extremely careful and researched plea as the charges were very serious.“People that have dealt with you feel that you are remorseful and that you deserve a second chance.“But you need to make some recompense and I hope that you will reflect on the damage caused to the injured party,” he said.He ordered him to do 120 hours community service in lieu of six months detention and put him on a probation bond for 12 months on his own bond of €500.He is also to comply with all the directions of the probation services and of his training and employment officer and not to reoffend.EndsBOY ORDERED TO DO COMMUNITY SERVICE AFTER ATTACK ON RETIRED LETTERKENNY NURSE was last modified: September 12th, 2011 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Anna McDaidMilford District Courtmuggedlast_img read more

Jones, 63, cracked University of Alabama color barrier

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! ATLANTA – Vivian Malone Jones, one of two black students whose effort to enroll at the University of Alabama led to George Wallace’s infamous “stand in the schoolhouse door” in 1963, died Thursday. She was 63. Jones, who went on to become the first black to graduate from the school, died at Atlanta Medical Center, where she had been admitted Tuesday after suffering a stroke, said her sister, Sharon Malone. “She was absolutely fine Monday,” Sharon Malone said. Jones, a retired federal worker who lived in Atlanta, grew up in Mobile, Ala. She had enrolled at historically black Alabama A&M University in Huntsville when she transferred to the University of Alabama in 1963. The move led to then-Gov. Wallace’s infamous stand in defiance of orders to admit black students. Jones and James Hood, accompanied by then-Deputy U.S. Attorney General Nicholas Katzenbach, enrolled after Wallace finished his statement and left. At an appearance last year in Mobile, she recalled meeting with Wallace in 1996, when the former governor was in frail health. He died in 1998. “I asked him why did he do it,” she said. “He said he did what he felt needed to be done at that point in time, but he would not do that today. At that point, we spoke – I spoke – of forgiveness.” She recalled that she and Hood waited in a car until Wallace read his proclamation. Finally, when he stepped aside, she said, that allowed them to enter the university. “I was never afraid. I did have some apprehensions in my mind, though, especially having gone to segregated, ‘separate, but equal’ schools,” she said. Jones said her religious beliefs gave her confidence to persist, and she graduated in 1965. “God was with me,” she said. Hood left after a few months but returned to receive his doctorate in 1997. Now a retired educator living in Madison, Wis., Hood said Jones was a quiet person in public, but she always provided encouragement to him during the events at Alabama. “She was a very determined person, probably more so than I was,” he said Thursday. He said the agreement between the White House and Wallace’s aides provided that Wallace would step aside. They had already enrolled quietly at the federal courthouse in Birmingham, and all they had to do was pay their fees and leave, he said. He recalled talking to President Kennedy on the telephone. “We knew it was going to be historic but we had no idea what the impact would be,” he said. After graduating, Jones went on to work for the U.S. Justice Department in Washington and for the Environmental Protection Agency in Atlanta, where she retired, her sister said.last_img read more

Nealy 100 Lumberjack football Alumni to attend homecoming

first_imgIn 1993 Dave Albert and his counterparts on Humboldt State football’s offensive line engraved their names into a section of freshly laid cement near the Lumberjacks’ old practice field. On the slab they wrote they would come back in 25 years to reunite at the Lumberjacks’ yearly homecoming game. Today, Albert and the majority of his fellow linemen from the ‘93 team will get together to watch their final game at the Redwood Bowl when HSU hosts Simon Fraser. Kick off is at 6 p.m.It will be a …last_img read more

Brand South Africa & CNBC Africa Special on the Thought Leadership Breakfast at WEF Davos

first_imgOn the morning of 20 January 2016, Brand South Africa together with CNBC Africa hosted an exclusive Thought Leadership Breakfast in Davos – Switzerland, under the theme “Will the 4th Industrial Revolution Benefit South Africa and Africa?”This discussion aimed to contextualise how industrialisation plays a crucial role in achieving the economic growth and social development visualised in South Africa’s National Development Plan and the continent’s Agenda 2063. This gathering saw international government leaders as well as global CEOs deliberate on the role that industrialisation can play in growing South Africa and Africa, in a CNBC Africa hosted panel.That being said – kindly be advised that the Brand South Africa and CNBC Africa Special on the Thought Leadership Breakfast at WEF Davos will air this afternoon (Thursday 28 January 2016) at 13h00 on CNBC Africa Channel 410.The key note address was delivered by the Minister of Trade and Industry – Dr Rob Davies, and panellists included Nicky Newton-King – the Johannesburg Stock Exchanges’  (JSE) CEO; Vasi Naidoo – the Chairman of the  Nedbank Group; Ben Kruger – the Joint-Chief Executive of the Standard Bank Group; as well as Geoffrey Qhena – the CEO of the Industrial Development Corporation (IDC).Team South Africa concluded a successful programme in Davos assuring investors of policy certainty and economic stability:Team South Africa led by President Jacob Zuma – leveraged the presence of international business, analysts and politicians in Davos to assure the global community of the country’s commitment to maintaining policy certainty, fiscal discipline, macro-economic stability and the promotion of inclusive growth and development.  South Africa reiterated that the National Development Plan, the 9 point plan for economic recovery and Operation Phakisa were being implemented with a view to ensuring economic and social growth and development.ABOUT WEF:For over four decades, the World Economic Forum’s mission – improving the state of the world – has driven the design and development of the Annual Meeting programme. The theme of the Meeting this year was ‘Mastering the Fourth Industrial Revolution’The Annual Meeting in Davos-Klosters remains the foremost creative force for engaging the world’s top leaders in collaborative activities focused on shaping the global, regional and industry agendas. Over 2,500 leaders from business, government, international organisations, civil society, academia, media and the arts participated in the 46th Annual Meeting of the World Economic Forum in Switzerland from 20 to 23 January 2016.last_img read more

Retd. Punjab & Haryana HC judge joins AAP

first_imgA retired Punjab & Haryana High Court judge, Justice Zora Singh, joined the Aam Aadmi Party on Monday in the presence of party national convener and Delhi Chief Minister Arvind Kejriwal here.Justice Singh, who had headed a commission that investigated incidents of desecration of the Sri Guru Granth Sahib in Punjab, said he had chosen to join the AAP because of its work in the field of education and health in Delhi.In a statement, the AAP said Justice Singh had been in the judiciary for 35 years and was appointed chairperson of the Haryana Gurdwara Parbhandhak Committee. The erstwhile SAD-BJP government in Punjab had appointed a commission headed by him to prove cases of desecration of the holy book of the Sikhs. Though he submitted his report on June 30, 2016, the Congress government that came to power in 2017 termed it “inconclusive” and set up the Justice Ranjit Singh Commission of Inquiry in April 2017.Welcoming Justice Singh into the party, Mr. Kejriwal and AAP MP from Sangrur Bhagwant Mann said he would strengthen the party.last_img read more