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Heavy Transport Market Overview and Leading Players: Hitachi Transport System, Fagioli S.p.A., Nationwide Transport Services, Holleman, Van der Vlist, Turk, DB Cargo, Heavy Weight Transport 12-15-2024 09:24 PM CET | Logistics & Transport Press release from: STATS N DATA Heavy Transport Market The Heavy Transport Market is a vital segment of the global logistics and transportation industry, characterized by the movement of oversized and heavy cargo that requires specialized handling and equipment. Its relevance spans various key applications, including mining, oil and gas, construction, and energy sectors. As industries continue to expand, the demand for efficient and reliable heavy transport solutions has surged, positioning this market as a cornerstone of modern supply chains. You can access a sample PDF report here: https://www.statsndata.org/download-sample.php?id=96524 Recent developments in the heavy transport arena have been significantly shaped by technological advancements and strategic collaborations among key players. Innovations in logistics management systems, including the integration of artificial intelligence (AI) and the Internet of Things (IoT), have improved operational efficiency and safety. Moreover, partnerships between companies have fostered resource sharing and enhanced service offerings, further propelling market growth. As the heavy transport sector evolves, stakeholders are encouraged to leverage actionable insights that align with current trends. This includes adopting sustainable practices, enhancing digital capabilities, and responding to the increasing demand for customized solutions. By remaining adaptable to market dynamics, companies can ensure their relevance and competitiveness in this rapidly changing landscape. Key Growth Drivers and Trends The heavy transport market is being influenced by several critical growth drivers. Sustainability has emerged as a primary concern, with companies striving to minimize their environmental footprint. The push for eco-friendly transport solutions is leading to the adoption of alternative fuels and energy-efficient vehicles, which are gaining traction across the industry. Digitization is another pivotal trend reshaping the market. With advancements in technology, businesses are increasingly utilizing digital platforms for logistics management, allowing for real-time tracking, improved coordination, and enhanced customer experience. This digital transformation is not only streamlining operations but also enabling companies to respond swiftly to market demands. Consumer awareness is also driving demand for greater transparency and accountability in heavy transport services. Clients are increasingly seeking providers that offer detailed reporting and visibility into their supply chain processes, creating an opportunity for companies to differentiate themselves based on service quality and responsiveness. Emerging technologies, such as AI integration, are further revolutionizing the heavy transport market. AI-powered analytics are enhancing decision-making and operational efficiency, while product customization is becoming more prevalent as companies seek to meet the specific needs of their clients. The combination of these trends indicates a promising future for the heavy transport market and requires stakeholders to stay informed and agile. Market Segmentation The heavy transport market can be segmented into various categories to better understand its dynamics: Segment by Type - Road: Road transport remains the most common mode for heavy cargo, leveraging an extensive network of highways and roads to facilitate efficient movement. - Rail: Rail transport is increasingly being recognized for its cost-effectiveness and environmental benefits, particularly for transporting bulk materials over long distances. Segment by Application - Mining: The mining sector requires robust heavy transport solutions for the movement of raw materials and equipment, driving significant demand in this area. - Oil and Gas: The oil and gas industry relies heavily on specialized transport services for the delivery of drilling equipment and other vital resources. - Construction: Construction projects necessitate the transportation of heavy machinery and materials, thereby securing a substantial share of the heavy transport market. - Energy and Electricity: The renewable energy sector, including wind and solar, is driving demand for heavy transport solutions to move large components like turbines and panels. - Others: This category encompasses various other industries requiring specialized heavy transport services. Get 30% Discount On Full Report: https://www.statsndata.org/ask-for-discount.php?id=96524 Competitive Landscape The competitive landscape of the heavy transport market is marked by several key players, each contributing uniquely to the industry's growth and innovation. - Hitachi Transport System: Known for its commitment to technological advancement, Hitachi Transport System is leveraging AI and IoT to enhance its logistics solutions. - Fagioli S.p.A.: A leader in heavy lifting and transport, Fagioli is recognized for its innovative engineering solutions tailored to complex logistics challenges. - Nationwide Transport Services: This company focuses on providing comprehensive transport solutions across various sectors, enhancing its service offerings through strategic partnerships. - Holleman: With a strong emphasis on sustainability, Holleman is integrating eco-friendly practices into its heavy transport services. - Van der Vlist: This company is renowned for its expertise in logistics for the aerospace and energy sectors, driving innovation through specialized services. - Turk: Turk is making strides in expanding its operational footprint while enhancing its service capabilities in heavy transport. - DB Cargo: A major player in rail transport, DB Cargo is committed to developing sustainable logistics solutions that align with evolving market demands. - Heavy Weight Transport: This company specializes in transporting exceptionally heavy and oversized cargo, focusing on operational excellence and safety. - Lematics: Known for its advanced logistics solutions, Lematics is pushing the boundaries of technology in heavy transport. - Collett: Collett is a prominent player in the UK market, known for its innovative approach to heavy haulage and logistics. - Viktor Baumann: This company is recognized for its specialized transport services in the construction sector, providing tailored solutions for heavy loads. - Unified Logistics: Unified Logistics aims to enhance service delivery through strategic collaborations and digital tools. - Mammoet: A leader in engineered heavy lifting and transport, Mammoet is known for its innovative projects and industry expertise. - Buckingham: Buckingham specializes in heavy haulage, focusing on customer-centric solutions and operational efficiency. - Carter Heavy Haulage: With a focus on safety and reliability, Carter Heavy Haulage is a trusted name in the transport of oversized cargo. - Holmatro: Known for its hydraulic equipment, Holmatro supports the heavy transport industry by providing essential tools for lifting and moving heavy loads. These companies are not only competing for market share but are also collaborating and innovating to set new standards in the industry. Opportunities and Challenges The heavy transport market presents numerous opportunities for growth, particularly in untapped regions and emerging economies. As industries expand globally, the demand for heavy transport services is expected to rise, creating avenues for companies to establish their presence in new markets. Additionally, evolving consumer preferences toward sustainable and efficient transport solutions provide a unique opportunity for businesses to innovate and differentiate their offerings. However, the market is not without its challenges. Regulatory constraints can complicate operations, particularly for companies operating across borders. Furthermore, operational inefficiencies and talent shortages pose significant hurdles. To address these challenges, companies must invest in workforce development and streamline their processes through technology adoption. By proactively identifying and addressing these challenges, stakeholders in the heavy transport sector can better position themselves for success in an increasingly competitive landscape. Technological Advancements Technological advancements are fundamentally transforming the heavy transport market. The integration of AI is revolutionizing logistics management, enabling companies to optimize routes, enhance fuel efficiency, and improve safety. AI-driven analytics are providing deeper insights into operational performance, allowing businesses to make data-driven decisions that enhance efficiency. Additionally, IoT-driven systems are enabling real-time tracking of heavy cargo, improving visibility throughout the supply chain. This technology not only enhances operational efficiency but also provides customers with the transparency they demand. Virtual tools and simulations are also making waves in the industry, allowing for better planning and execution of heavy transport operations. These advancements are paving the way for a future where heavy transport is more efficient, reliable, and environmentally friendly. Research Methodology and Insights At STATS N DATA, our research methodology employs a comprehensive approach to ensure the accuracy and reliability of our insights. Utilizing both top-down and bottom-up methodologies, we integrate primary and secondary research to gather data from a wide range of sources. Our triangulation process further enhances the validity of our findings, allowing us to present actionable insights that stakeholders can rely on. Through rigorous analysis and a commitment to excellence, STATS N DATA continues to provide valuable insights into the heavy transport market, positioning us as a trusted authority in the field. In conclusion, the heavy transport market is poised for significant growth, driven by technological advancements and evolving consumer demands. By embracing innovation and addressing challenges head-on, stakeholders can tap into the tremendous potential this market offers. For customization requests, please visit: https://www.statsndata.org/request-customization.php?id=96524 Full Heavy Transport Market Report Link: https://www.statsndata.org/report/Global-Heavy-Transport-Market-96524 Related Reports: Financial Process Automation Market https://www.statsndata.org/report/financial-process-automation-market-81156 Hummus and Labneh Market https://www.statsndata.org/report/hummus-and-labneh-market-34908 Amusement Parks and Theme Parks Market https://www.statsndata.org/report/amusement-parks-and-theme-parks-market-7253 automobile Trailers Market https://www.statsndata.org/report/automobile-trailers-market-164855 Construction Camera (Time Lapse Camera) Market https://www.statsndata.org/report/construction-camera-time-lapse-camera-market-89104 John Jones Sales & Marketing Head | Stats N Data Phone: +1 (315) 642-4324 Email: sales@statsndata.org Website: www.statsndata.org STATS N DATA is a trusted provider of industry intelligence and market research, delivering actionable insights to businesses across diverse sectors. We specialize in helping organizations navigate complex markets with advanced analytics, detailed market segmentation, and strategic guidance. Our expertise spans industries including technology, healthcare, telecommunications, energy, food & beverages, and more. Committed to accuracy and innovation, we provide tailored reports that empower clients to make informed decisions, identify emerging opportunities, and achieve sustainable growth. Our team of skilled analysts leverages cutting-edge methodologies to ensure every report addresses the unique challenges of our clients. At STATS N DATA, we transform data into knowledge and insights into success. Partner with us to gain a competitive edge in today's fast-paced business environment. For more information, visit https://www.statsndata.org or contact us today at sales@statsndata.org This release was published on openPR.
Centoni, EVP and Chief Customer Experience Officer at Cisco, Brings Proven Expertise in Elevating Customer Success PLEASANTON, Calif. , Dec. 3, 2024 /PRNewswire/ -- Workday, Inc . (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money , today announced the election of Liz Centoni, executive vice president and chief customer experience officer at Cisco, to its board of directors. Centoni is a seasoned leader who has a passion for leveraging technology to drive customer success and deliver unparalleled experiences. Throughout her career, Centoni has been spearheading initiatives that have significantly enhanced customer satisfaction and loyalty. "Liz's passion for championing customer success aligns perfectly with our unwavering commitment to delivering exceptional customer experiences, making her an ideal addition to our Board," said Carl Eschenbach , CEO, Workday. "Her expertise will be instrumental in ensuring that we continue to exceed customer expectations as we innovate and grow." Centoni has held a range of senior engineering and strategy roles during her 24 years at Cisco. In 2024, she led the company's $28 billion acquisition of Splunk, positioning Cisco at the forefront of the AI revolution. Centoni was also instrumental in developing Cisco's responsible AI framework, and has advocated for equity in tech at events including World Economic Forum's Annual Meeting. She is an active mentor and sponsor of underrepresented groups, including serving as Cisco's global executive sponsor for the Women in Science and Engineering (WISE) program. "Joining Workday's board is an exciting opportunity to collaborate with a company that shares my passion for empowering people and organizations through innovative technology and AI," said Liz Centoni , executive vice president and chief customer experience officer, Cisco. "I'm eager to leverage my experience to further strengthen Workday's customer-centric approach and contribute to its continued growth." Centoni's appointment is effective as of today. About Workday Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money . The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com . © 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders. Forward-Looking Statements This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission ("SEC"), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law. Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available. View original content to download multimedia: https://www.prnewswire.com/news-releases/workday-appoints-liz-centoni-to-its-board-of-directors-302321567.html SOURCE Workday Inc.UnitedHealth projects 2025 operating cash flow below estimates
Vanderbilt’s Head Coach Clark Lea spoke to the media this week about preparing to play LSU. Opening Statement “Excited for the opportunity this weekend and I think the team feels refreshed after the bye. We did everything we could to try to get the legs back for the guys. We played a lot of snaps...The bye comes a little late for us but at a perfect time to try to take a swing here at a challenging finish to the schedule. We need to be strong in all three phases because LSU is a really good team. It’s a prideful program that's going to be looking for a bounceback victory at home so guys are excited for the challenge. We’re excited to go down and compete.” What are you saying to your team ahead of this LSU game? Clark: I know you've played in some tough environments this year but Death Valley at night is no joke. I think we’ve learned a little bit about spending too much time on that stuff because in the end, it's just about how you play. It’s about your performance and though we want them to be aware of the context for the game, the circumstances and how challenging it is, we've taken our program to a lot of tough places. We have a ton of respect for LSU. We have a ton of respect for their stadium, their fan base and their environment. And if we're going to have any chance to battle against their really good team and their tough environment, it's going to be a focus on our execution and making the plays we need to make to neutralize some of that.Centoni, EVP and Chief Customer Experience Officer at Cisco, Brings Proven Expertise in Elevating Customer Success PLEASANTON, Calif. , Dec. 3, 2024 /PRNewswire/ -- Workday, Inc . (NASDAQ: WDAY ), a leading provider of solutions to help organizations manage their people and money , today announced the election of Liz Centoni, executive vice president and chief customer experience officer at Cisco, to its board of directors. Centoni is a seasoned leader who has a passion for leveraging technology to drive customer success and deliver unparalleled experiences. Throughout her career, Centoni has been spearheading initiatives that have significantly enhanced customer satisfaction and loyalty. "Liz's passion for championing customer success aligns perfectly with our unwavering commitment to delivering exceptional customer experiences, making her an ideal addition to our Board," said Carl Eschenbach , CEO, Workday. "Her expertise will be instrumental in ensuring that we continue to exceed customer expectations as we innovate and grow." Centoni has held a range of senior engineering and strategy roles during her 24 years at Cisco. In 2024, she led the company's $28 billion acquisition of Splunk, positioning Cisco at the forefront of the AI revolution. Centoni was also instrumental in developing Cisco's responsible AI framework, and has advocated for equity in tech at events including World Economic Forum's Annual Meeting. She is an active mentor and sponsor of underrepresented groups, including serving as Cisco's global executive sponsor for the Women in Science and Engineering (WISE) program. "Joining Workday's board is an exciting opportunity to collaborate with a company that shares my passion for empowering people and organizations through innovative technology and AI," said Liz Centoni , executive vice president and chief customer experience officer, Cisco. "I'm eager to leverage my experience to further strengthen Workday's customer-centric approach and contribute to its continued growth." Centoni's appointment is effective as of today. About Workday Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money . The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com. © 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders. Forward-Looking Statements This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission ("SEC"), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law. Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available. SOURCE Workday Inc.
KUWAIT: For the fifth consecutive year, Zain has announced its platinum sponsorship of the latest and largest edition of Mirzam Expo, Kuwait’s top interior design and home decoration gathering. This year’s event featured participation from over 200 local and international companies, where Zain showcased its latest 5G solutions, offering customers an innovative home experience. Zain’s continued support for this one-of-a-kind annual event reflects its commitment to supporting outstanding local initiatives that highlight national talent and foster entrepreneurship in Kuwait. The exhibition also serves as a platform for Zain to connect with customers and showcase its portfolio of world-class connectivity solutions. Over the course of six days at its dedicated booth, Zain presented the latest solutions, including advanced routers powered by 5G, enabling customers to enjoy superior speed and stability both inside and outside their homes. The company also introduced visitors to its latest sustainability initiatives. On the sidelines of the exhibition, Zain hosted a special session titled Empowering the Digital Future with Zain, which spotlighted cutting-edge future technologies and the innovative solutions within Zain’s portfolio. The session emphasized how Zain leverages innovation to enhance modern digital lifestyles and empower customers with the latest in connectivity. In addition, Zain’s booth showcased the company’s latest initiatives and programs related to its sustainability strategy. Highlights included efforts to reduce Zain’s environmental footprint, minimize carbon emissions, and promote eco-awareness campaigns within the community, contributing to the achievement of sustainability goals. Mirzam is the leading gathering of its kind for interior design and home decoration. Its fifth edition was the largest in its history, featuring participation from over 200 local and international companies across 300 booths, covering 55 categories related to interior and exterior design, décor, furniture, and home essentials.
WASHINGTON — The House on Wednesday passed a $895 billion measure that authorizes a 1% increase in defense spending this fiscal year and would give a double-digit pay raise to about half of the enlisted service members in the military. The bill is traditionally strongly bipartisan, but some Democratic lawmakers opposed the inclusion of a ban on transgender medical treatments for children of military members if such treatment could result in sterilization. It passed by a vote of 281-140 and next moves to the Senate, where lawmakers sought a bigger boost in defense spending than the current measure allows. The Pentagon and the surrounding area is seen Jan. 26, 2020, from the air in Washington. Lawmakers are touting the bill's 14.5% pay raise for junior enlisted service members and a 4.5% increase for others as key to improving the quality of life for those serving in the U.S. military. Those serving as junior enlisted personnel are in pay grades that generally track with their first enlistment term. Lawmakers said service member pay failed to remain competitive with the private sector, forcing many military families to rely on food banks and government assistance programs to put food on the table. The bill also provides significant new resources for child care and housing. "No service member should have to live in squalid conditions and no military family should have to rely on food stamps to feed their children, but that's exactly what many of our service members are experiencing, especially the junior enlisted," said Rep. Mike Rogers, R-Ala., chairman of the House Armed Services Committee. "This bill goes a long way to fixing that." The bill sets key Pentagon policy that lawmakers will attempt to fund through a follow-up appropriations bill. The overall spending tracks the numbers established in a 2023 agreement that then-Speaker Kevin McCarthy, R-Calif., reached with President Joe Biden to increase the nation's borrowing authority and avoid a federal default in exchange for spending restraints. Many senators had wanted to increase defense spending some $25 billion above what was called for in that agreement, but those efforts failed. Sen. Roger Wicker, R-Miss., who is expected to serve as the next chairman of the Senate Armed Services Committee, said the overall spending level was a "tremendous loss for our national defense," though he agreed with many provisions within the bill. "We need to make a generational investment to deter the Axis of Aggressors. I will not cease work with my congressional colleagues, the Trump administration, and others until we achieve it," Wicker said. Sen. Roger Wicker, R-Miss., speaks with reporters Nov. 21 on Capitol Hill in Washington. House Republicans don't want to go above the McCarthy-Biden agreement for defense spending and are looking to go way below it for many non-defense programs. They are also focused on cultural issues. The bill prohibits funding for teaching critical race theory in the military and prohibits TRICARE health plans from covering gender dysphoria treatment for children under 18 if that treatment could result in sterilization. Rep. Adam Smith of Washington state, the ranking Democratic member of the House Armed Services Committee, said minors dealing with gender dysphoria is a "very real problem." He said the treatments available, including puberty blockers and hormone therapy, have proven effective at helping young people dealing with suicidal thoughts, anxiety and depression. "These treatments changed their lives and in many cases saved their lives," Smith said. "And in this bill, we decided we're going to bar service members' children from having access to that." Smith said the number of minors in service member families receiving transgender medical care extends into the thousands. He could have supported a study asking medical experts to determine whether such treatments are too often used, but a ban on health insurance coverage went too far. He said Speaker Mike Johnson's office insisted on the ban and said the provision "taints an otherwise excellent piece of legislation." Rep. Chip Roy, R-Texas, called the ban a step in the right direction, saying, "I think these questions need to be pulled out of the debate of defense, so we can get back to the business of defending the United States of America without having to deal with social engineering debates." Smith said he agrees with Roy that lawmakers should be focused on the military and not on cultural conflicts, "and yet, here it is in this bill." Branden Marty, a Navy veteran who served for 13 years, said the loss of health coverage for transgender medical treatments could prompt some with valuable experience to leave the military, affecting national security because "we already struggle from a recruiting and retention standpoint." He also said the bill could regularly force service members into difficult choices financially. "It will be tough for a lot of them because of out-of-pocket expenses, especially enlisted members who we know already struggle with food insecurity," said Marty, the father of a transgender teenager. "They don't get paid very much, so they're going to be making a lot of choices on a day-to-day, tactical level." House Minority Leader Hakeem Jeffries, D-N.Y., responds to reporters Dec. 6 during his weekly news conference at the Capitol in Washington. Rep. Hakeem Jeffries, the House Democratic leader, said his team did not tell Democrats how to vote on the bill. "There's a lot of positive things in the National Defense Authorization Act that were negotiated in a bipartisan way, and there are some troubling provisions in a few areas as well," Jeffries said. Overall, 81 Democrats voted for the bill and 124 against it. On the Republican side, 200 voted for the bill and 16 against it. "It's disappointing to see 124 of my Democrat colleagues vote against our brave men and women in uniform over policies that have nothing to do with their intended mission," Johnson, R-La., said. The defense policy bill also looks to strengthen deterrence against China. It calls for investing $15.6 billion to build military capabilities in the Indo-Pacific region. The Biden administration requested about $10 billion. On Israel, the bill, among other things, includes an expansion of U.S. joint military exercises with Israel and a prohibition on the Pentagon citing casualty data from Hamas. The defense policy bill is one of the final measures that lawmakers view as a must-pass before making way for a new Congress in January. Rising threats from debt collectors against members of the U.S. armed forces are undermining national security, according to data from the Consumer Financial Protection Bureau (CFPB), a federal watchdog that protects consumer rights. To manage the impact of financial stress on individual performance, the Defense Department dedicates precious resources to improving financial literacy, so service members know the dangers of notorious no-credit-check loans. “The financial well-being of service members and their families is one of the Department’s top priorities,” said Andrew Cohen, the director of financial readiness in the Office of the Deputy Assistant Secretary of Defense at the Pentagon. But debt collectors are gaining ground. Last quarter, debt collection complaints by U.S. military service members increased 24% , and attempts to collect on “debts not owed” surged 40%. Complaints by service members against debt collectors for deceptive practices ballooned from 1,360 in the fourth quarter of 2023 to 1,833 in the first quarter of 2024. “There’s a connection between the financial readiness and the readiness of a service member to perform their duty,” said Jim Rice, Assistant Director, Office of Servicemember Affairs at the Consumer Financial Protection Bureau. Laws exist to protect the mission readiness of U.S. troops from being compromised by threats and intimidation, but debt collectors appear to be violating them at an alarming pace. “If they’re threatening to call your commander or get your security clearance revoked, that’s illegal,” says Deborah Olvera, financial readiness manager at Wounded Warriors Project, and a military spouse who’s been harassed herself by a collection agency that tried to extort money from her for a debt she didn’t owe. But after she requested the name of the original creditor, she never heard from them again. “The financial well-being of service members and their families is one of the Department’s top priorities.” —Andrew Cohen, Director of Financial Readiness at the Pentagon Under the Fair Debt Collection Practices Act, it’s illegal for debt collectors to threaten to contact your boss or have you arrested because it violates your financial privacy. The FDCPA also prohibits debt collectors from making false, deceptive, or misleading representations in connection with the collection of a debt, even for borrowers with bad credit scores. But according to the data, debt collectors are increasingly ignoring those rules. “Debt collection continues to be one of the top consumer complaint categories,” said a spokesperson at the Federal Trade Commission. The commission released a report earlier this year revealing that consumers were scammed $10 billion in 2023, a new benchmark for fraud losses. In his book Debt: The First 5,000 Years, David Graeber argues that debt often creates a relationship that can feel more oppressive than systems of hierarchy, like slavery or caste systems because it starts by presuming equality between the debtor and the creditor. When the debtor falls into arrears, that equality is then destroyed. This sense of betrayal and the subsequent imbalance of power leads to widespread resentment toward lenders. Photo Credit: Olena Yakobchuk / Shutterstock The debt collector reportedly harassing military service members most was Resurgent Capital Services, a subsidiary of collection giant Sherman Financial Group. The company tacks on accrued interest and junk fees and tries to collect on debts purchased for pennies on the dollar from cable companies, hospitals, and credit card companies, among others. Sherman Financial Group is run by billionaire Benjamin Navarro, who has a reported net worth of $1.5 billion, according to Forbes. Sherman Financial also owns subprime lender Credit One Bank and LVNV Funding, which outsource collections to Resurgent Capital. According to CFPB data, the second worst offender is CL Holdings, the parent company of debt-buyer Jefferson Capital Systems. The company has also been named in numerous complaints to the Better Business Bureau for alleged violations of the FDCPA, such as failing to properly validate debts or update credit reports with accurate information. Under the leadership of CEO David Burton, Jefferson Capital Systems is a wholly-owned subsidiary of CompuCredit Corporation, which markets subprime credit cards under the names Aspire, Majestic, and others. The third most referenced debt collector is publicly traded Portfolio Recovery Associates [NASDAQ: PRAA], which was forced to pay $27 million in penalties for making false representations about debts, initiating lawsuits without proper documentation, and other violations. Portfolio Recovery Associates is run by CEO Vikram Atal. Fourth place for alleged worst offender goes to Encore Capital Group [NASDAQ ECPG], which was required to pay $42 million in consumer refunds and a $10 million penalty for violating the Fair Debt Collection Practices Act. Encore collects under its subsidiary Midland Credit Management Group. These debt collectors all operate under a veritable shell game of company and brand names, almost none of which are disclosed on their websites, sending consumers on a wild goose chase to try and figure out how they’re related to each other. But despite their attempts to hide their tracks behind a smoke screen of subsidiaries, a leopard can’t change its spots, and the CFPB complaint database makes it harder for them to try. Photo Credit: Bumble Dee / Shutterstock Although widely considered a consumer-friendly state, complaints spiked most in California, which saw a 188% increase in complaints filed from the fourth quarter of 2023 to the first quarter of 2024. California is home to 157,367 military personnel, making it the most populous state for active-duty service members. The second-largest increase in debt collection complaints was in Texas, which saw a 66% jump from the fourth quarter of 2023 to the first quarter of 2024. The U.S. Department of Defense reports 111,005 service members stationed in the Lone Star State, which is the third-most populous state for active-duty military. The rising trends do not correlate to the number of military personnel by state. Complaints against debt collectors in Virginia, the second most populous state with 126,145 active duty personnel, decreased by 29% in the same quarter-over-quarter period. And complaints filed quarter-over-quarter in North Carolina, the fifth most populous state with 91,077 military personnel, decreased by 3% in the same period. The third largest percentage increase in debt collection complaints was from service members stationed in Maryland, where alleged harassment reports jumped 112% from the fourth quarter of 2023 to the first quarter of 2024. Maryland ranks number 12 with just 28,059 active duty service members. Fourth place goes to Ohio – the 28th most populous active-duty state – where complaints doubled, followed by Arizona – the 15th most populous military state – where complaints were up 70% in the same quarter-over-quarter period. Photo Credit: PeopleImages.com - Yuri A / Shutterstock In 2007, Congress passed the Military Lending Act to cap the cost of credit to a 36% annual percentage rate, inclusive of junk fees and late charges, for active duty military service members. That rate is still considerably higher than average credit card rates, which range from 8% for borrowers with excellent credit scores to as high as 36% for borrowers with bad credit. But lenders still get hauled into court for violating the MLA. Don Hankey, the billionaire subprime auto lender who funded Donald Trump’s $175 million appeal bond , is among those violators. His company, Westlake Financial, which markets high-interest car loans for bad credit, has been sued twice by the Department of Justice for harassing military service members. In 2017, the DoJ alleged Hankey’s Westlake Financial illegally repossessed at least 70 vehicles owned by military service members. Westlake Financial paid $700,000 to settle the charges. In 2022, Westlake Financial paid $250,000 for allegedly cheating U.S. troops out of interest rates they were legally entitled to. Westlake Financial continues to receive complaints from military service members alleging abusive debt collection practices on its no-credit-check loans. A steady year-over-year increase in the number of complaints filed against Westlake Financial continued from 2020 to 2023. Consumer Financial Protection Bureau data shows a 13% increase in the number of complaints against the company from 2020 to 2021, a 28% increase from 2021 to 2022, and a torrential 119% surge from 2022 to 2023. The numbers suggest systemic complaint-handling processes and inadequate customer service resources. Photo Credit: Cynthia Shirk / Shutterstock On May 16, 2024, a deceptively named predatory lending industry front group dubbed the Community Financial Services Association of America (CFSA) lost a legal attempt to defund the Consumer Financial Protection Bureau. In an effort to deprive Americans of essential consumer protections, the lobby group argued that the Consumer Financial Protection Bureau’s funding structure was unconstitutional. But the Supreme Court denied its claim. In a 7-2 ruling, the Court held that the Consumer Financial Protection Bureau’s funding structure is indeed constitutional. That means the Consumer Financial Protection Bureau cannot be defunded, but it does not mean the agency cannot be defanged. The New York Times suggested that Hankey’s incentive to finance Trump’s $175 million bond could have been a reciprocity pledge to neuter the Consumer Financial Protection Bureau if Trump wins the upcoming U.S. presidential election. If Trump wins a second term, he could replace Consumer Financial Protection Bureau director Rohit Chopra, an American consumer advocate, with a predatory lending advocate. In 2020, the Trump Administration secured a Supreme Court ruling that made it easier for the president to fire the head of the Consumer Financial Protection Bureau. The ruling struck down previous restrictions on when a president can fire the bureau’s director. Like other federal agencies, the Consumer Financial Protection Bureau has also been confronted for overstepping its bounds, pushing too far, and acting unfairly against entities it regulates. Photo Credit: Lux Blue / Shutterstock Seasonality and rising interest rates do not explain the increase in debt collection complaints from service members. The surge in complaints is not tied to predictable seasonal fluctuations or changes in interest rates. The increase in debt collection complaints by service members may point to underlying systemic issues, such as aggressive and predatory debt collection practices that exploit the unique financial vulnerabilities of service members, who face frequent relocations and deployments. Debt Complaints by Service Members The 24% spike in debt collection complaints exhibits no correlation to fluctuations in interest rates. 30-Year Fixed Mortgage Rates Pandemic stimulus checks were also not a factor. COVID-19 relief benefit checks went through three major rounds during the pandemic. The final round of Economic Impact Payments went out in March 2021 . To better understand the rising trend of debt collection complaints, we calculated the increase in the total number of complaints and the percentage increase quarter-over-quarter. For example, New Jersey has the second largest percentage increase in complaints quarter-over-quarter, but the total number of complaints increased by just 16. The data for this study was sourced from the Consumer Financial Protection Bureau (CFPB) complaint database. The dataset specifically targeted complaints filed by U.S. military service members, identified using the tag “Servicemember” within Q4 2023 and Q1 2024. Readers can find the detailed research methodology underlying this news story in the accompanying section here . For complete results, see U.S. Troops Face Mounting Threats from Predatory Debt Collectors on BadCredit.org . Homelessness reached record levels in 2023, as rents and home prices continued to rise in most of the U.S. One group was particularly impacted: people who have served in the U.S. military. "This time last year, we knew the nation was facing a deadly public health crisis," Jeff Olivet, executive director of the U.S. Interagency Council on Homelessness, said in a statement about the 2023 numbers. He said the latest homelessness estimates from the Department of Housing and Urban Development "confirms the depth of the crisis." At least 35,000 veterans were experiencing homelessness in 2023, according to HUD. While that's about half of what it was in 2009—when the organization began collecting data—things have plateaued in recent years despite active efforts to get that number to zero. Although they make up just 6.6% of the total homeless population, veterans are more likely to be at risk of homelessness than Americans overall. Of every 10,000 Americans, 20 were experiencing homelessness. Of veterans living in the United States, that number jumps to 22, HUD data shows. Complicated by bureaucracy, family dynamics, and prejudice, the path from serving in the military to homelessness is a long one. According to a 2022 study by Yale School of Medicine researchers, homelessness typically occurs within four years of leaving the military, as veterans must contend with the harsh reality of finding a job in a world where employers struggle to see how skills on the battlefield transfer to a corporate environment. These days, veterans also deal with historically high rent and home prices, which causes many to rely on family generosity while figuring out a game plan. Stacker examined academic studies, analyzed government data, and spoke with members of the Biden administration, experts, and former members of the armed forces to see the struggles members of the military face when leaving the armed forces. The Department of Veterans Affairs offers transition assistance to the roughly 250,000 service members who leave each year. However, those programs can be burdensome and complex to navigate, especially for those who don't have a plan for post-military life. Only a small portion of veterans have jobs lined up when they leave, according to 2019 Pew Research. Many also choose to live with relatives until they get on their feet, which can be longer than anticipated. Some former service members are unsure what kind of career they'd like to pursue and may have to get further education or training, Carl Castro, director of the Military and Veteran Programs at the Suzanne Dworak-Peck School of Social Work at the University of Southern California, told Stacker. "It takes years for that kind of transition," Castro said. Many have trouble finding a job after leaving the service, even if they are qualified. Some employers carry misconceptions about those who have served. A 2020 analysis from the journal Human Resource Management Review found that some veterans face hiring discrimination due to negative stereotypes that lead hiring managers to write them off as a poor culture fit. Underemployment, or working low-wage jobs below their skill level, is also an issue. While the unemployment rate for veterans was 3% in March 2024, a study released by Penn State at the end of 2023 found three years after leaving the service, 61% of veterans said they were underemployed because of perceived skill mismatches . This phenomenon can have long-term economic effects, and eventually, that frustration can boil over, strain relationships, and potentially lead to housing instability. Working, especially a low-wage job, is not protection against homelessness. A 2021 study from the University of Chicago found half of people living in homeless shelters and 2 in 5 unsheltered people were employed, full or part-time. For veterans, housing costs certainly play a role, but those who leave the military also face systemic barriers. "It's worrying there are people that continue to fall through the cracks," said Jeanette Yih Harvie, a research associate at Syracuse University's D'Aniello Institute for Veterans and Military Families. Just under a quarter of adults experiencing homelessness have a severe mental illness , according to 2022 HUD survey data. They are also likely to have chronic illnesses but are unable to maintain preventative care, which only exacerbates these problems. Veterans facing homelessness are more likely to have experienced trauma , either before or after joining the military, according to Yale researchers who analyzed the 2019-2020 National Health and Resilience in Veterans Study. Childhood trauma was among the most significant commonalities among vets who become homeless. Substance use disorder is also widespread and can indicate an undiagnosed mental illness . Racial and ethnic disparities are at play, too. A 2023 study in the Journal of Psychiatric Research showed that Hispanic and Black veterans were more likely to screen positive for PTSD, and Hispanic veterans were more likely to report having suicidal ideation. Overall, access to mental health care has improved in the last decade or so. In December 2023, the VA announced it would open nine additional counseling centers. However, the stigma of getting help remains, especially after years of being conditioned to be self-reliant and pull oneself up by their bootstraps. That help, in the form of public policy, is slowly working to catch up to the need. In 2023, the Biden administration invested millions into research programs and studies on suicide prevention by the VA office in addition to a proposed $16 billion to improve quality and lower-cost mental health care services for veterans. And, in February of this year, HUD and the VA announced they would give up to $14 million in vouchers to public housing agencies for veterans experiencing homelessness. The program would also offer case management and other services. Still, with a culture that pushes people to keep going, it can be challenging for servicemembers to take advantage of these opportunities, Harvie said. "When you've been doing that for the last 15 or 20 years, it's difficult to stop and say, 'I'm the person that needs help.'" Story editing by Kelly Glass. Copy editing by Kristen Wegrzyn. Stay up-to-date on the latest in local and national government and political topics with our newsletter.
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VANCOUVER — Vancouver Canucks defenceman Filip Hronek is expected to be out until the end of January as he recovers from a lower-body injury. General manager Patrik Allvin issued a statement Tuesday saying Hronek underwent a successful procedure for the undisclosed ailment and is expected to miss about eight weeks. He says the 27-year-old Czech blueliner will not require surgery for an upper-body injury. Hronek hasn't played since going into the endboards hard late in Vancouver's 5-4 loss to the Penguins in Pittsburgh last Wednesday. He's been paired with captain Quinn Hughes for much of the season and registered eight points (one goal, eight assists) in 21 games. The Canucks (13-7-3) have dealt with a litany of notable absences this season, including all-star goalie Thatcher Demko, who remains sidelined with a knee injury, and star centre J.T. Miller, who's on an indefinite leave for personal reasons. This report by The Canadian Press was first published Dec. 3, 2024. The Canadian Press
After U.S. military officials reported they’re unsure who is behind the increasing number of drones reported in the skies above New York and New Jersey, Sen. Chuck Schumer on Sunday called for new technology to help local officials “determine what the heck is going on.” The Senate majority leader advocated for the Department of Homeland Security to deploy a special drone-detection technology called “Robin” in local airspace, which is also used to track the movement of birds. “Our local people who have questions about these drones should not have to shake an 8-ball for an answer,” he said during a news conference. Schumer’s demand came two days after New York’s Stewart Airport was temporarily shut down due to drone activity, prompting Gov. Kathy Hochul to call for action from the federal government. Federal officials announced Sunday they would deploy a new drone detection system in New York after calls from Hochul for more resources. U.S. Defense Department officials wrote in a press release on Saturday they’ve confirmed drone sightings above New Jersey’s Picatinny Arsenal and Naval Weapons Station Earle. Drones have also been reported recently above President-elect Donald Trump’s Bedminster Golf Club in New Jersey. “We have no intelligence or observations that would indicate that they were aligned with a foreign actor or that they had malicious intent," the release said, while also noting the military has “not been able to locate or identify the operators or the points of origin." The Defense Department release also claimed the military is “prohibited from conducting intelligence, surveillance and reconnaissance operations in the United States which might be used to determine the origins of who might be flying the drones.” But Schumer said he wants to deploy technology that helps give local governments answers. He said state and local leaders currently do not have the authority to use drone detection systems like the one he's calling for, and said he plans to co-sponsor a bill in Congress that would extend drone detection privileges to local officials.Israel strikes Houthi rebels in Yemen's capital while the WHO chief says he was meters awayLawmakers edge closer to deal on government funding
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