Chase CEO: ‘Big, Dumb Banks’ Should Be Allowed to Fail

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles  Print This Post November 5, 2015 1,289 Views Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Tagged with: Bailouts Banks Jaime Dimon JPMorgan Chase Too Big to Fail Should banks actually be allowed to fail? Well, the “big, dumb” ones should, according to JPMorgan Chase chairman and CEO Jamie Dimon, who on Wednesday blasted the institutionalized belief that mega-dollar bailouts for badly run banks is good for the economy.Dimon’s comments that banks should be allowed to fail is the latest in a growing movement among top-tier banking execs who believe that financial institutions earn their own success or failure. In June, Wells Fargo’s former CEO, Dick Kovacevich, called the Troubled Asset Relief Program, or TARP, “an unmitigated disaster” for several reasons, including institutionalizing the concept that there are some banks that can’t be allowed to go under. For Dimon, if a bank can’t keep its house in order, it does not deserve help getting out of the trouble it caused itself.The call to end bailouts has even become a political campaign issue. In October,presidential candidate Hillary Clinton stressed to TV host Stephen Colbert the importance of investors knowing that their banks could fail, and that the price of mismanagement should be suitably harsh.Dimon’s comments also coincide with a series of bills passed Wednesday by the House Financial Services Committee that aim to boost economic growth by increasing the accountability of financial regulators. At the sessions, Committee Chairman Jeb Hensarling (R-Texas) said that the Dodd-Frank Act of 2010, rather than eliminating the “too big to fail” concept, has simply made more bureaucrats more untouchable and left more taxpayers to pick up an increasingly hefty bill for the economy in the wake of TARP assistance.”Banks should be allowed to fail,” said Dimon, speaking to 300 CEOs and senior executives at the Fortune Global Forum in San Francisco. “For the American public, [bailouts] should be called ‘bankruptcy for big, dumb banks.'”Noteworthy is that JPMorgan Chase accepted $25 billion in TARP assistance in 2008, which Dimon at the time said the bank accepted “because we were asked to.” The bank has since paid the money back, plus more than $1 billion in fines related to the company’s acquisitions of Bear Stearns and Washington Mutual. About Author: Scott Morgan Chase CEO: ‘Big, Dumb Banks’ Should Be Allowed to Fail Servicers Navigate the Post-Pandemic World 2 days ago Previous: House Passes Amendment to Transportation Bill, Eliminating Delay to GSE G-Fee Cuts Next: Wells Fargo Promotes New Head of Home Lending Servicingcenter_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Share Save Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Chase CEO: ‘Big, Dumb Banks’ Should Be Allowed to Fail Bailouts Banks Jaime Dimon JPMorgan Chase Too Big to Fail 2015-11-05 Scott Morgan in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Joe Russo’s Almost Dead Shares SBDs From Sold-Out Boulder Theatre Performance

first_imgAs part of their weekly Taper Tuesdays, Joe Russo’s Almost Dead has shared soundboard audio from their sold-out performance at the Boulder Theater from December 16, 2016. The quintet spent three nights in Colorado at three different venues, spreading the gospel of the Grateful Dead.Thanks to taper McRoberts, you can stream the full show below, which features the debut of Almost Dead’s cover of Joe Lukasik, the debut of “The Wheel Jam,” and so many more special moments only capable by this powerhouse band. Enjoy!Setlist: Joe Russo’s Almost Dead | Boulder Theater | 12/16/2016Set One (9:18pm – 10:28pm):01. intro/crowd02. Big Railroad Blues (TH) >03. Feel Like A Stranger (SM)04. Bird Song @ (TH) ->05. The Other One # (SM)06. Mississippi Half Step $ (TH) ->07. Three Question Marks Jam % ->08. Let It Grow^ (SM)Set Two (11:04pm – 12:44am):01. intro/crowd02. Alice D Millionaire & (SM) ->03. I Know You Rider (All)04. Tennessee Jed (TH) ->05. Becky Jam ->06. Tennessee Jed Reprise (TH) * ->07. The Wheel Jam + ->08. Let It Grow Jam ->09. The Wheel @@ (All) ->10. They Love Each Other ## (TH) ->11. Estimated Prophet $$ (SM) ->12. Touch Of Grey (TH)Encore:13. Dancing In The Streets %% (SM) ->14. Pork & Slaw ^^ ->15. Dancing In The Streets (SM) ->16. My Sharona Jam && ->17. Dancing In The Streets Reprise ** (SM)@ – With Cryptical Teases x 2 (TH)# – With a “Hippie Dream” (Neil Young) Jam$ – With a “Walk on the Wild Side” (Lou Reed) Tease (DD)% – First Time Played by Almost Dead, Joe Lukasik Cover; not the entire song. Used to be covered by the Benevento Russo Duo.^ – With an Other One Tease (Band), a Cryptical Tease (MB) & an Unknown Tease (MB)& – Not played by Almost Dead since Brooklyn Bowl, Brooklyn, NY 2015-01-23, a gap of 77 shows* – Not played by Almost Dead since Brooklyn Bowl, Brooklyn, NY 2015.10.3, a gap of 52 shows+ – First Time Played By Almost [email protected]@ – Unfinished, with a “”Moonlight Mile” (Rolling Stones) Jam – may become a track, depending on length## – With a “Shortnin’ Bread” (James Whitcomb Riley) Tease, a “Hamp’s Hump” (Lou Donaldson) Tease (JR), a West LA Fade Away Tease (MB) and a “Rudolph The Red Nose Reindeer” (Robert Lewis May) Tease (MB)$$ – With a Uncle John’s Band Tease (SM) & an “Inspector Gadget Theme” (Unknown) Tease (SM)%% – With a Feel Like a Stranger Tease (MB)^^ – WOLF! cover, First Time Played by Almost Dead&& – The Knack cover, First Time Played by Almost Dead** – Not Played by Almost Dead since Summer Camp, Chillicothe, IL, 2015.05.23, a gap of 59 showsLike seeing Joe Russo’s Almost Dead on the beach? Don’t miss their upcoming Fool’s Paradise event on March 31st and April 1st in St. Augustine, FL. Joe Russo’s Almost Dead will be join hosts Lettuce and bands like, The Floozies, The Motet, and more, with Antwaun Stanley and Oteil Burbridge as artists-at-large! More information can be found here.last_img read more

Colombian Soldiers Shine in International Paralympic Competition

first_img From his wheelchair, Sergeant First Class Francisco Genaro Pedraza Osorio frowns, inflates his cheeks and throws a heavy cannon-like iron ball. All around him, others twist their bodies and use their legs to propel themselves, something he can’t do. All around him, over 300 militaries marked by battlefield scars participated in the Marine Corps Trials sporting event, which came to an end on March 6, at U.S. Marine Corps Base Camp Pendleton, San Diego, California. Organized by the U.S. Marine Corps Wounded Warrior Regiment, the week-long annual event tested the athletic skills of handicapped military officers from the United States and a dozen other countries that competed in shot put, discus throw, archery, wheelchair basketball, sitting volleyball, swimming, cycling, and track and field trials. However, Pedraza considers that the excitement from the competitions was not the most important aspect. “I came here to compete, but actually the best part was the brotherhood that blossomed among officers from all over the world, as well as the chance to meet people that overcame their disabilities, just like me,” he states. Colombia was the only Latin American country represented at the Marine Corps Trials, with 15 Army and Marine officers, including Sergeant First Class Pedraza. The event, celebrated annually for the last three years, is part of a program that gives wounded, sick or injured soldiers the chance to start athletic training and develop a healthy lifestyle, despite their disabilities. Moreover, 50 Marines from the Trials will be selected to represent the Marine Corps at the 2013 Warrior Games, an annual Paralympic event that will take place from May 11-17 at the Olympic Training Center and the U.S. Air Force Academy in Colorado Springs, Colorado. Challenges At the Marine Corps Trials, Pedraza made his debut in the pentathlon: swimming, shooting, shot put, discus throw and hand cycle. “The competition was tough and the event for me was a new challenge. My forte is the hand cycle,” said the Colombian sergeant. Still, he took gold for the shot put and discus throw and silver for the hand cycle, closely following favorite Joe Townsend, a British Soldier that was selected in 2012 to light the torch at the XIV Paralympic Games in London, England, for his sport achievements. However, the most difficult challenge in Pedraza’s life was the unexpected jolt on the morning of September 2, 2004, in remote point of the Colombian jungle. “After two days in combat, an antipersonnel mine planted by guerrillas exploded while we were trying to perform an evacuation by air,” he says. Several of his comrades were injured: one lost his right leg, another suffered lung perforations, and a third Soldier’s jaw was destroyed. The explosion blasted one of Pedraza’s legs. The other one was later amputated. “As a Soldier, you know you run that risk. Then you have to face a dilemma: to remain feeling sorry for yourself or to try to move on,” the Colombian officer said. Pedraza chose to keep fighting, and once recovered from the wounds, he joined the Colombian Army Health Battalion Sport League. Since then, he has participated in two Paralympic cycling world tournaments and in marathons in different Colombian cities, as well as in Miami, New York, and Panama. Colombia shines with medals His Colombian colleagues also took home medals from the Marine Trials in San Diego. Marine Héctor Sipamocha, who lost his sight in a grenade explosion, took gold in tandem cycling, and the 200 meter and 1,500 meter track and field events. Sipamocha, who competes with the help of a guide, took home the 100-meter silver. For his part, Colombian Army Lieutenant Diego Cuesta, took home gold and silver medals for the 100 and 200-meter races respectively. At the pool, Cuesta left all the other swimmers behind at the 50 and 100-meter freestyle and the 50-meter backstroke competitions. Fellow Colombian Army Lieutenant Jonathan Martínez, who also suffered partial vision loss in combat, won the 1,500-meter silver and 200-meter bronze. Martínez closely followed Cuesta at the swimming competition, collecting bronze for the 50-meter and 100-meter freestyle and 50-meter backstroke. Another Colombian delegation champ was Army Second Lieutenant Camilo Sánchez Castellano, who rose to the podium on three occasions, earning silver for the 50 and 100-meter freestyle, and the 50-meter backstroke competition for double amputees. Pedraza’s upcoming challenges are in Toronto, Canada, where he is scheduled to participate at the Parapan Am Games 2015, and in Rio de Janeiro, Brazil, at the XV Paralympic Games 2016. “That is this very minute,” he stated, implying that he will keep representing Colombia for a long time. Not on the battlefield this time, but in the arena of sports. By Dialogo March 08, 2013last_img read more

Aquapark Istralandia is bravely vying for the best aquapark in Europe with a new investment cycle

first_imgISTRALANDIA NEW ATTRACTIONS IN THE 2018 SEASON The first Croatian water park Istralandia is entering its fifth year of operation, the number of visitors is continuously growing from year to year, collecting awards and recognitions throughout Europe, and expanding and announcing new investments.By the way, back in 2014 in Istria, the municipality of Brtonigla, the much needed quality content for the whole of Istria was opened, Aquapark Istralandia, which is undoubtedly one of the most important realized projects in the tourist offer of Istria.The investment worth more than 10 million euros was realized by Poreč entrepreneur Branko Kovačić and created over a hundred new jobs. In order to better design the entire project, Kovačić and his associates visited 54 such parks around the world and learned on the spot how they are designed, organized and how they work. Preparations for the realization of Istria took six years, and the Poreč-based company Istrakop built it in a record 10 months.And that good preparation is crucial is proven by numerous awards from the profession and visitors. In the previous business period from 2014 to 2017, Aquapark Istralandia won 15 valuable awards of local, regional, national and international significance, of which the most significant are the title for winning 5th place in the ranking of the best aquaparks in Europe in 2015, 2016 and 2017 and last year’s recognition independent houses of international character Trip Advisor for winning 2nd place in the category of the best aquaparks in Europe, all in competition with more than 300 European aquaparks. This excellent quality property is located on an area of ​​81.000 m23, with 2 magnificent attractions with a total length of more than 5.500 km of pipeline and XNUMX mXNUMX of water surface.The scale was raised high, and the most important thing justified all expectations.”Last year we had over 200.000 visitors, which was above our expectations. This year we expect even better results, since we know that the Istria region is the strongest tourist region in Croatia and already in the current part of the season we have a growth of 10%. After five years of work, I can freely say that we have become a brand, and Istria is heard beyond the borders of Croatia. Last year, with the recognition of TripAdvisor as the second best aquapark in Europe, we made one big step forward, which gave us an extra wind in our backs to go in the right direction. “Points out Silvio Kraljević, head of the Istralandia aquapark.The total investment was 10 million euros, and the investment cycle continues. Already this year, Aquapark Istralandia has invested an additional 3 million euros in the introduction of five new attractions, and further expansion is planned through the construction of accommodation facilities and other various attractions. What is interesting and what shows all the quality of the investor, because to look at quality, long-term, and above all his experience of guests, and not just money. Of course we all work for money, but it is rare to see that an investor really listens to the reactions and needs of guests, and implements them.Proof of this is the already mentioned third third investment cycle on the Istralandia aquapark project, which was based primarily on experiential opportunities and results achieved after the first four years of operation, ie observed “bottlenecks”, and primarily concern the complaints of guests addressed to the company’s management waiting too long in lines on attractions and slides and a small number of sunbathing places or deck chairs in the aquapark.This year we are introducing five new attractions. The investment is about 3 million euros, which is certainly an indicator that we are on the right track because customers want new attractions, and we are here to make it possible for them. We are just getting use permits and in a couple of days we expect the launch of a new attraction to further enhance the offer and raise the satisfaction of our guests, because surveys have shown us the need for new content that visitors are looking for. Says Kraljevic.As it happens too often in Croatia, I wonder out loud: What kind of investor would raise the quality of service and offer from year to year after such an investment, listen to the reactions and complaints of guests and eliminate them. Unfortunately, the realistic picture is that after the initial investment, no additional investment is made for the next 10 years, because only profit maximization is seen, which can often be seen with certain investments in hotel construction. When the hotel opens, there are no more additional costs, only earnings for the next xx years. “A new investment cycle is also planned, which is related to accommodation capacities. We plan to open a modern five-star camp on 22 hectares, we are currently working on conceptual solutions and I expect that the camp will be operational in two years. Kraljević emphasizes and adds that they want to satisfy the interest of potential users within a distance of up to 300 km, which opens a new market that represents the potential of 12.400.000 users (residents within 300 km + tourists staying in the County of Istria).And to listen to their visitors, the following facts speak for themselves.Again listening to the needs of guests, this year they are introducing the possibility of paying with a prepaid bracelet. It is normal that it is inconvenient to be in the park with a wallet and take care of money and documents, and lockers are provided, and now payment by bracelet in catering facilities. Also, as in Istria the camping segment is strongly represented and at a high level, a large part of visitors to Istralandia came from the camps, and they bring with them pets, which are logically not allowed to enter the aquapark. But a solution was found here as well, and a special space for animals was provided, where each animal has its own house and space, free food and water. Also, Aquapark Istralandia is fully (except for slides) adapted and accessible to people in wheelchairs. Parking is completely free, as well as the entire animation program and the use of all attractions and swimming pools. There is even a construction of an elevator in the short-term investment plan, so that guests would not have to carry heavy “tubes” to descend on some slides.It is important to note that the products in restaurants are not some low budget, from beer, juices, sauces, etc.… but well-known quality brands. Of course, this is a certain “cost” and reduces earnings, but not if we look at the quality of the offer in the long run.Marketing and investing in additional content is not a cost, but an investmentUnfortunately, in most cases in Croatia there is still a paradigm that marketing is a cost, not an investment. But not in the case of Aquapark Istralandia. Again in both fields they are more successful, in fact, an example to others and the best proof that this is imperative today.It is not enough just to have a great attraction and everyone will come to you immediately. Maybe at first to some extent because of the attractiveness itself, but if we don’t fulfill the whole experience and meet the expectations, the whole story falls into the water. And we are talking about an investment of 10 million euros.They are very well aware of this in Aquapark Istralandia, and with strong and targeted marketing as well as the highest quality additional content of all aquaparks in Europe, they can largely thank their success and growth in the number of visitors from year to year. “What sets us apart from others are the staff, beautiful horticulture, cleanliness and safety at the highest possible level and the additional entertainment we offer to our visitors that certainly sets us apart from other aqua parks. We have a foam party, a strong animation program, street entertainers, magicians… and it all takes place every day in the aquapark. It is not enough to offer only attractions, an additional experience for users is to enjoy at any time in the animation program that is unique in this part of Europe. Twice a week we have a fun Brass band, ie brass music where scouts descend with instruments on slides and this can only be seen and experienced here. Our customers really appreciate that “Concludes Kraljević and adds that they have a lot of ideas in the plan, but as they go step by step, investment by investment to the final goal of the best aquapark in Europe and beyond.Animation is still seen in our tourism as a “necessary evil” and as a cost, few hoteliers develop animation and use it as a tool to raise the overall satisfaction of their guests, especially when we talk about families with children. Also, as I mentioned, promotion is another strength of Aquapark Istralandia, which does not enter accounting as a cost but as a normal part of the business. From covering the whole of Istria, cooperation with Bina Istra where every guest who comes by car at toll booths receives a flyer about all the information, cooperation with hotels and all other participants in destinations, as well as promotions in targeted foreign markets. Also, in cooperation with the Autotrans group, a direct regular county bus line Poreč (central bus station) -Aquapark Istralandia is provided with stops in Špadići, Červar Porat, Vabriga-Camp Lanterna, Tar, Antenal, Novigrad and Bužinija.Finally, it is important to emphasize and praise the ecological aspect of the whole story. Thus, 90 percent of pool filter waste is recycled and returned to the aquapark’s water system thanks to modern ultrafiltration technology, while only 10 percent of water is lost, controlled and discharged into a biological treatment plant.In every aspect of the business, it is approached studiously, which in the end continues to be concrete results that can be seen at every step. These are the investors that our tourism needs. Those who look long-term, invest in their staff, continuously develop new content, feel the need for local affiliation by helping them, the level and satisfaction of visitors is important to them, and who are constantly looking forward and ultimately developing stably and long-term.When it is known that there are 300 aquaparks in Europe, and in Croatia’s closest surroundings in Italy there are more than 110 aquaparks, the success of Aquapark Istralandia is thus greater, and they certainly deserve all respect and be a case study to all students of economics and tourism. 1.Escape Hole Escape Hole is a water slide that allows a ride that begins with visual effects, goes downhill with a view of the entire aquapark and ends with a magnificent suction into the funnel. The trail will be 123 m long.2.Black KamikazeBlack Kamikaze is an attraction intended for adrenaline lovers. It is a closed water slide that will introduce you to a completely new dimension of speed and adrenaline in a dinghy in a sudden fall. The length of the trail is 107 m.3.Kids Spray Arena For our youngest visitors, we are preparing a colorful children’s empire with interactive water sprinklers and a playroom, where they will be able to challenge other children and parents to a fun competition. The area of ​​Kids Spray Arena is as much as 350 m.4.Family PoolThe Family Pool is located near the Kids Spray Arena, so parents will be able to relax in the pool with innovative hydromassage technology and 4 hot tubs to supervise children playing in the Kids Spray Arena.  or jump in the Kids Jumping Pool. Due to the clear glass, this pool is an unavoidable “photo point”, and its area is 200 m.5.Kids Jumping PoolIn addition to the already introduced possibility of buying tickets through the online store, this year we are also introducing the possibility of paying with a prepaid bracelet. So soon we plan to make it easier for customers to move and pay in our restaurants. They will be able to be comfortable and carefree about their credit cards and the cash that will be waiting for them safely in locked lockers.last_img read more