It was an unexpected bull market that began just over 11 years ago on the heels of a brutal 17-month, 57% decline in the S&P 500 index. Premature calls for the bull’s demise became routine throughout 14 drops of at least 5% during the 11-year run, including six declines of at least 10% and three falls of at least 15%. The bull market started in the third month of the Obama White House and lasted more than three years into the Trump administration. When the bull run finally came to an end last Thursday, the gain for the S&P 500 from its “troughto-peak” was +529% (total return) or an average 18.3% per year, making it the longest running stock bull market since the end of WWII (source: BTN Research).It may have been just a difference of opinion as to how to proceed in the face of declining global oil demand, but the two oil producing superpowers (Saudi Arabia and Russia) turned the disagreement into a playground brawl. Saudi Arabia wanted the OPEC+ alliance (which includes Russia) to cut production, theoretically driving the price of oil higher. Russia balked at the plan, causing Saudi Arabia to strike back by decreasing its official price of oil while announcing plans to increase its production to a record 13 million barrels a day, apparently in order to punish Russia. The net result: the price of oil closed last week at $31.73 a barrel, down 48% from the end of 2019 (source: BTN Research).The Fed announced on Thursday 3/12/20 that it would inject $6.5 trillion of 1-month and 3-month loans into the short-term “repo” market through Friday 4/17 /20. The “repo” market has been dependent on the Fed for assistance to ensure market liquidity since September 2019, key to avoiding a panic that can occur if a “seller” cannot quickly find a “buyer” without cutting the price of the asset they hold (source: BTN Research).Notable Numbers for the Week:WHEN INTEREST RATES COLLAPSE – Long-dated Treasury bonds produced a gain of +46.4% (total return) on a trailing 1-year basis as of the close of trading last Monday 3/09 /20 (source: Barclays).THE SICKEST AMONG US – Just 1 % of the U.S. population is responsible for 22% of total health care spending in the country, i.e., 1% of our 329 million population (3.3 million people) create $800 billion of health care expenses or an average of $242,000 per person per year (source: Brookings).THEY VOTE – 9.8% of eligible voters for the 2020 presidential election were born outside of the U.S.A. but have since legally become U.S. citizens, a total of 23 million immigrants (source: Census Bureau).I GOT THE FLU – During the 2018-2019 flu season in the United States ( approximately November 2018 through mid-April 2019), 35.5 million Americans got sick with the flu, 16.5 million saw a health care provider, 490,600 were hospitalized and 34,200 died from the flu (source: Center for Disease Control).
U.S. President-elect Joe Biden and Vice President-elect Kamala Harris address reporters about efforts to confront the coronavirus disease (COVID-19) pandemic after meeting with members of the “Transition COVID-19 Advisory Board” in Wilmington, Delaware, U.S., November 9, 2020.Jonathan Ernst | Reuters – Advertisement – According to a transition staffer, the purpose of the meeting will be to “discuss the economic recovery and building back better in the long term.”Biden will “bring together leaders from business and labor to discuss how – despite our different perspectives – we can work together to reach our common goals,” said the Biden aide, who spoke on background to preview the meeting.The event marks the first time that Biden as president-elect has formally convened business and labor leaders to discuss his economic recovery agenda.- Advertisement – The meeting is the latest example of Biden forging ahead with the traditional schedule of events for a president-elect, despite the fact that President Donald Trump has refused to concede the race.Each of the labor leaders represents a union that either wholly or in part endorsed Biden’s presidential campaign.But the attendance of such high-profile CEOs is more noteworthy, largely because it represents a public endorsement of Biden’s legitimacy as president-elect.Following the meeting, Biden will deliver remarks on “ensuring our workers and businesses can operate safely and rebuilding our economy to be more resilient and inclusive,” said the transition aide.He is also expected to discuss how the economic recovery is dependent upon controlling the spread of coronavirus.This is a developing story, please check back for updates. – Advertisement – WASHINGTON — President-elect Joe Biden will host a joint meeting Monday with labor union leaders and the chief executives of major tech, retail and auto companies, according to a transition aide.The business leaders expected at the virtual meeting are General Motors CEO Mary Barra, Microsoft president and CEO Satya Nadella, Target chairman and chief executive Brian Cornell and Sonia Syngal, CEO of Gap.Labor leaders include AFL-CIO president Richard Trumka, SEIU president Mary Kay Henry, UAW leader Rory Gamble, AFSCME president Lee Saunders and Marc Perrone, president of the UFCW.- Advertisement – read more
Facebook Twitter Google+ Published on April 20, 2016 at 12:02 am Contact Tomer: [email protected] | @tomer_langer Libi Mesh walked onto the bus with all the other draftees. As they found their seats they were told to sit with their legs together, their hands on their lap and remain silent for the entire ride.The bus shuttled the draftees to basic training for the Israel Defense Forces. Every Israeli citizen must serve in IDF — women for two years, men for three — when they turn 18. And while some were nervous, Mesh was not. Her older brother had been a paratrooper, and she was excited to contribute herself.“Oh, this is going to be so cool,” Mesh remembered thinking as the bus pulled away.Her wakeup call came at 4 a.m. The draftees went to sleep at 11 p.m. only to be dressed five hours later. On those same nights, she and other recruits would fall asleep during classes as their commander warned them that they’d run extra if they dozed off.But the biggest difficulty for Mesh, who placed second in the Israeli under-18 championships in tennis, was being forced to scale back on the sport she loved. After usually practicing twice a day, four to five times a week, Mesh only had time to practice once a day.AdvertisementThis is placeholder textAfter two years of mandatory service, Mesh has traded in her olive and dark blue uniforms for an orange and blue one. She enrolled at Syracuse this past fall and as a 21-year-old freshman has achieved her dream of playing collegiate tennis in the United States.“I’m getting a really good education in a very good school, I play tournaments in a very competitive level, I practice in a really high level with really good girls,” Mesh said. “I basically enjoy everything in one place.”Most of all, Mesh has thrived at Syracuse (13-7, 7-7 Atlantic Coast), which begins the ACC tournament on Thursday. Her childhood was marred by the constant struggle of having to put her other endeavors on the backburner — whether it was the military, her studies or her friendships — in order to advance her tennis career. But after deciding to live over 5,000 miles away from home and to join a tennis team for the first time in her life, she’s found the stability.Mesh started off as a ballet dancer. When she was 8, her parents got a flier advertising the Haifa branch of the Israel Tennis Centers. After about two months of playing, the manager and coach of the tennis center told Mesh’s parents that she was gifted and that it was worth it to invest in her tennis career.So they did. And Mesh’s dedication to tennis grew. But as she improved and started competing in more tournaments, she was also being forced to make hectic arrangements and sacrifices with other parts of her life.There was a tournament in Ashkelon, about 100 miles away from Haifa, the day of Mesh’s math final as a 16 year old. She won her afternoon game, drove back to Haifa to spend the night, woke up and took her exam before racing back down to Ashkelon to make it in time for the next game.“It’s very hard. To also have to integrate school, and she was at a very good school, and all the competitions,” Alex Mesh, her father, said. “For us it was also very hard, it’s (a lot of) effort.”Mesh put effort into her studies, but tennis came first and constantly traveling all over the country, and the world, for tournaments also made it harder for her social life. She only attended about 50 percent of her classes, Alex said. While her classmates hung out outside of school, Mesh worked on her trade.While her classmates didn’t understand her routine, her friends from the tennis center did. There, Mesh met Lee Levy, who was one year older than her. Levy was the best player at the center who would go on to become the best player in the country. Mesh looked up to Levy and was determined to match her level. The two bonded playing tennis and traveling to different tournaments together, cheering each other on along the way.Courtesy of Syracuse Athletics “I was serving on the court and I saw her and she came onto the court and the coach was like, ‘Look at her, she’s the next Lee Levy,’” Levy said. “It was fun.”Mesh used Levy’s path as a blueprint. Her first thought was to become a fighter in the military, but it would have meant giving up tennis completely. So she joined the navy, just like Levy.Two years ago Levy made the trek to the U.S., joining the tennis team at Rutgers. When Mesh wasn’t practicing or doing navy work, she was picking Levy’s brain, asking her what she should do to prepare for her trip to America. She told Mesh to speak as much English as possible, watch TV without subtitles and switch her phone to English.Neither Levy nor Mesh had ever been part of an actual tennis team before, as they only competed as individuals in tournaments, and they figured it would take some time to get used to it. But that’s where their experiences diverged.Levy was one of only two international players on a Rutgers team that returned most of its core. Mesh was on a Syracuse team that only returned three players and brought in five new international players, including herself.“It helps because they understand the struggle of being foreign and coming here, studying in a different language and everything,” Mesh said of her SU teammates. “They know what I’m going through, I know what they’re going through, so we help each other.”Mesh had always put her tennis career first, no matter what other areas she had to sacrifice. But in an individualistic sport, it’s the team she joined that’s made her comfortable halfway across the globe.Although Mesh has gotten very comfortable in her short time at Syracuse, there’s still a part of her that longs for those connections from home. Her room holds a green pillow, scarf and hat, all bearing the logo of Maccabi Haifa, her favorite soccer team. Her dad sends her videos from games he attends. She could sit for hours and listen to Israeli music from her favorite artists, like Shlomo Artzi and Ivri Lider.A few weeks ago she asked her parents to send her a package filled with Israeli snacks. At first the package was sent back because Mesh was away when it was delivered and didn’t pick it up on time, but eventually the package found its way back to her. It was filled with her favorites like: Bamba, a peanut butter flavored snack with the shape and texture of a smaller Cheetos puff; Klik, little white and milk chocolate balls; and Kariot, which translates to “pillows,” which are little pillow shaped cereal pieces filled with nougat. There’s a similar cereal sold in the U.S. called Krave.“But it’s not the same!” Mesh said.“I was so happy, it’s been awhile since I was at home. Those little things make you think about home.”But as of now, Syracuse is her home. Had you asked Mesh what her post-college plans were last semester, she would have said she was definitely going back to Israel. As her freshman year wraps up, she’s not as sure, but she feels like if she wanted to live in America permanently, she could.“Ask me (again) next semester,” she said.In Israel, Mesh honed her tennis skills and went through rigorous IDF trainings that prepared her for this voyage. She carries everything she learned from those experiences with her.But in Syracuse she no longer struggles to balance the sport she loves with her personal self-growth. In Syracuse, she’s managed to finally find the balance in her life.“I get the best of both worlds, I guess,” she said with a smile. Comments read more
WHAT IS YOUR FAVORITE MEMORY AT USC? Josh Dunst/Daily Trojan Beating UCLA at home was just magical, especially doing it on senior night for some of those guys [who are] some of my best friends today. I’m not really sure about that yet. I have a couple options — I could pursue volleyball overseas. But I’m also ready to get a job, start a life, and move on. WHAT’S NEXT FOR YOU? It was tough in the beginning. Of course, there’s a language barrier, understanding what your coaches want, how you’re going to make new friends. The culture’s totally different. The environment is different. It was always a challenge to adapt. It took me a while to understand more about the people. WHAT’S ONE THING ABOUT VOLLEYBALL THAT MOST PEOPLE DON’T KNOW? Just keep your head high. Sometimes it’s going to be a roller coaster ride. There’s going to be ups and downs. You’ve just got to keep your head up, just keep working hard. If you work hard, it’s going to pay off in the end. WHAT ABOUT TRANSFERRING FROM COMMUNITY COLLEGE? WAS THAT A CHALLENGE? DO YOU HAVE ANY REGRETS FROM THE PAST FOUR YEARS? I made a lot of friends playing volleyball. It definitely helped that all my teammates knew English, helped me develop my language as well on the court. My favorite memory so far was my junior year. We had a game against UCLA — it was senior night last year. There was a lot of people, a lot of pressure and we came up with a win that night. I’m going to remember that game forever. No regrets at all. When you don’t win a championship, you’re always like, “I wish I would’ve done that.” We’re working hard this year to reach that goal. In the U.S., it’s not really a popular sport. One of our coaches, Greg Walker, talks about entertaining people: ‘What are you going to do for people to come watch you?’ It has to be exciting. Sometimes, I feel like some people lack excitement [for the sport]. It’s something that we always work on, to put on a show for everyone to come to watch. WAS IT DIFFICULT TO ADJUST TO LIFE IN AMERICA? Coming from Orange Coast College in Orange County, of course the level of volleyball was way higher playing Division I here at USC. It’s tough to adjust to the speed of the game. After a lot of hard work and dedication, you adapt to it easily. DO YOU HAVE ANY ADVICE FOR FRESHMEN ATHLETES? Volleyball is played all around the world, but the way they play it in the U.S. is totally different from the way they play it in Brazil. [In Brazil], it’s a way more emotional game. You play with your heart. You play for the fans. In the U.S., it’s more of a statistical game. In my opinion, that’s why people don’t really watch it here — the excitement that some of the players don’t have. read more
Twenty-four-year-old Fred Trimeon, a porter of Plantation Best, West Coast Demerara, was on Thursday granted $100,000 bail at the Wales Magistrate’s Court by Magistrate Rushell Liverpool for the unlawful wounding of Stephan Johnson at Middle Street, Pouderoyen, West Bank Demerara. The father of two, who said he was never previously charged, denied the allegation which Police said occurred on March 5, 2018.The Police prosecution objected to bail based on the grounds of the seriousness of the offence but the Magistrate overruled this application and granted the man his pre-trial liberty. She however ordered that Trimeon stay 50 feet away from Johnson for the duration of the matter. The case was transferred to the Vreed-en-Hoop Magistrate’s Court for April 3. read more