Utah BBQ http://utahbbq.org/ Fri, 27 May 2022 18:37:28 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://utahbbq.org/wp-content/uploads/2021/04/cropped-ICON-32x32.png Utah BBQ http://utahbbq.org/ 32 32 Door-to-door lawyer kills Jackson, NJ resident, cops say https://utahbbq.org/door-to-door-lawyer-kills-jackson-nj-resident-cops-say/ Fri, 27 May 2022 16:10:48 +0000 https://utahbbq.org/door-to-door-lawyer-kills-jackson-nj-resident-cops-say/

JACKSON — A Verizon door-to-door sales attorney stabbed a man to death during a street confrontation early Thursday night.

Michael Tsamas, 32, of the Laurence Harbor section of the Old Bridge, knocked on the door of Joseph Delgardio’s home on the West Veterans Highway near Conor Road in Jackson around 6:15 p.m. Delgardio told Tsamas that he was not interested and Tsamas left the property, according to Ocean County Attorney Bradley Billhimer.

Shortly after, Delgardio, 44, confronted the lawyer in the street and began to fight. Tsamas pulled a knife from his pocket and fatally stabbed the resident in the neck, according to Billhimer.

Billhimer did not reveal what led to the confrontation between Delgardio and Tsamas.

Tsamas was taken into custody without incident and charged with first degree murder, possession of a weapon for an unlawful purpose and unlawful possession of a weapon. He is being held at the Ocean County Jail pending a detention hearing.

Dan Alexander is a reporter for New Jersey 101.5. You can reach him at dan.alexander@townsquaremedia.com

Click here to contact an editor about a comment or correction for this story.

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FDA chief struggles to explain slow response to infant formula https://utahbbq.org/fda-chief-struggles-to-explain-slow-response-to-infant-formula/ Thu, 26 May 2022 04:54:41 +0000 https://utahbbq.org/fda-chief-struggles-to-explain-slow-response-to-infant-formula/

Food and Drug Administration Commissioner Robert Califf testifies via video during a hybrid hearing of the House Commerce Oversight and Investigations subcommittee on the national infant formula shortage Wednesday in Washington. (Kevin Wolf, Associated Press)

Estimated reading time: 5-6 minutes

WASHINGTON — The head of the Food and Drug Administration faced bipartisan fury from House lawmakers on Wednesday after months of delays in investigating problems at the nation’s largest infant formula plant that prompted a continuing shortage.

FDA Commissioner Robert Califf exposed a series of setbacks in congressional testimony that have slowed his agency’s response, including a COVID-19 outbreak at the factory and a whistleblower complaint that did not reach FDA management as it was apparently lost in the mail.

Califf testified before a House subcommittee investigating the shortage, which snowballed into a national political controversy and forced the U.S. military to begin airlifting supplies from Europe.

The shortage stems largely from Abbott’s Michigan plant, which the FDA shut down in February due to contamination concerns. Under fire from Congress, parents and the media, Califf gave the first detailed account Wednesday of why his agency took months to inspect and shut down the plant despite learning of potential problems as early as September.

The FDA’s response was, “Too slow and there were some suboptimal decisions along the way,” Califf told lawmakers.

The FDA and President Joe Biden are facing mounting political pressure to explain why they didn’t act sooner to avert the supply crisis.

“Why did it take a national media onslaught for the Biden administration to act with the sense of urgency needed to address a shortage of infant formula?” asked Rep. Morgan Griffith, R-Virginia, the committee’s ranking Republican.

Califf said the agency has been trying to monitor formula supplies since 2020, when COVID-related disruptions first emerged, but regulators have limited visibility into companies’ supply chains.

The House panel also heard from three formula makers, including a senior Abbott Nutrition executive who apologized to parents for the shortage.

“We let you down,” said Abbott Vice Chairman Christopher Calamari. “We are deeply sorry.”

Calamari repeatedly dodged questions about whether employees had been disciplined or fired for the plant’s problems, including standing water, a leaky roof and damaged equipment.

FDA staff began focusing on Abbott’s plant last fall while tracking several bacterial infections in infants who had consumed formula from the facility. The four cases occurred between September and January, causing hospitalizations and two deaths.

The FDA planned to begin inspecting the Sturgis, Michigan plant on Dec. 30, according to Califf’s testimony. But Abbott warned that a dozen factory workers had tested positive for COVID-19 and asked for a delay. As a result, the FDA did not begin its inspection until January 31.

Michelle Saenz of Santee, Calif., buys formula at a grocery store across the border Tuesday in Tijuana, Mexico.  The FDA chief faced bipartisan fury from House lawmakers on Wednesday after months of delays in investigating problems at the nation's largest baby formula plant that have caused continued shortages.
Michelle Saenz of Santee, Calif., buys formula at a grocery store across the border Tuesday in Tijuana, Mexico. The FDA chief faced bipartisan fury from House lawmakers on Wednesday after months of delays in investigating problems at the nation’s largest baby formula plant that have caused continued shortages. (Photo: Gregory Bull, Associated Press)

After detecting positive samples of a rare but dangerous bacteria in several parts of the plant, the FDA closed the facility and Abbott announced a mass recall of its formula on February 17.

‘We knew shutting down plant operations would create supply issues, but we had no choice given the unsanitary conditions,’ Califf said, calling the issues ‘shocking’ and ‘unacceptable’. .

Abbott and the FDA reached an agreement to reopen the plant next week, under which the company must undergo regular external safety audits.

Califf also struggled to explain delays in following up on a whistleblower complaint alleging numerous safety breaches at the Abbott plant, including employees falsifying records and not testing formula. before shipping.

Several FDA staff members reviewed the complaint in late October when it was sent to a regional FDA office, but an interview did not take place until two months later, in part because of scheduling conflicts. of the whistleblower.

Senior FDA officials eventually received the complaint via email, but not until February due to “an isolated failure in the FDA mailroom, likely due to staffing issues related to COVID-19.” , according to FDA testimony. A copy mailed to Acting Commissioner Dr Janet Woodcock has still not been located.


I don’t think there is one responsible person. I just think it shows that there needs to be restructuring and it needs to be clearer who is ultimately responsible.

-Representing. Nanette Diaz-Barragan, D-Calif.


Political outrage over the shortage landed squarely on the FDA and Califf, which was confirmed to the FDA role for the second time in February. The problems turned into a political storm for the White House, which invoked the Defense Production Act and emergency import measures.

The FDA contacted the US Department of Agriculture on February 11 about a potential shortage, just days before Abbott’s recall, according to the FDA’s schedule.

Califf said the FDA had requested new authorities, funds and personnel to track supply chain data that could have helped anticipate the problem, but noted that Congress had not provided it.

Several lawmakers have expressed longstanding concerns that the FDA’s food program — which oversees most US foods except meat, poultry and eggs — is underfunded and needs to be restructured. .

The program has a convoluted leadership structure in which there is a director of the FDA’s Center for Food Safety and Applied Nutrition and a separate deputy commissioner for “food policy and response.” The deputy commissioner focuses more on safety, but has no direct authority over the food center staff or the field staff who inspect the company’s factories.

The two officials testified Wednesday, along with Califf.

When Rep. Nanette Diaz-Barragan, D-California, asked who was responsible for food safety, Califf and Food Center Director Susan Mayne gave detailed answers, outlining different roles and responsibilities.

“I don’t think there is one person responsible,” Diaz-Barragan replied. “I just think it shows there needs to be some restructuring and it needs to be clearer who is ultimately responsible.”

Later Wednesday afternoon, Abbott’s Calamari told lawmakers that its company plans to build additional capacity and layoffs in its supply chain to avoid future disruptions. He reiterated the company’s view that the FDA has not directly linked reported illnesses in infants to bacteria samples taken from its plant.

After the company restarts production next month, it will be able to produce more formula than before the recall, he noted.

“We’re going to learn from this. We’re going to improve from this,” Calamari said.

Executives from Reckitt and Gerber also testified to their efforts to increase production.


The Associated Press Health and Science Department is supported by the Howard Hughes Medical Institute Department of Science Education. The AP is solely responsible for all content.

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Housing boom is making many Mountain West homeowners ‘equity rich’ https://utahbbq.org/housing-boom-is-making-many-mountain-west-homeowners-equity-rich/ Wed, 25 May 2022 15:45:00 +0000 https://utahbbq.org/housing-boom-is-making-many-mountain-west-homeowners-equity-rich/

According to real estate data analyst Attom, there is a record $27 trillion in equity in the United States. In fact, thanks to the overfed housing market, almost half of the owners with mortgages are considered “equity rich” after the first quarter of 2022. This means they owe less than 50% of the market value of their property.

Idaho leads the nation, with nearly 70% of homeowners in the state falling into this category. Utah and Arizona rank third and fourth respectively, where more than 60% of homeowners owe less than half the value of the property. The number is over 50% in Colorado and Nevada, ranked 12th and 13th.

Rick Sharga, executive vice president of market intelligence at Attom, says Mountain West stands out in part because its fast-growing states have attracted an influx of cash buyers snapping up homes.

“What we’ve seen is really a migration of people from higher cost states selling their homes, taking the money and buying bigger homes that are much cheaper in states like Idaho and Utah or Arizona,” Sharga said.

That doesn’t happen as much in Wyoming, where only a quarter of homeowners in the state are considered equity-rich. It is the fifth lowest rating in the country.

Meanwhile, New Mexico saw the largest increase in the number of stock-rich homeowners, rising from 35.3% in the fourth quarter of 2021 to 43.4% in the first quarter of 2022. Montana ranked fifth in this category, rising from 40.5% to 45.7%.

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Nevada Public Radio, Boise State Public Radio in Idaho, KUNR in Nevada, the O’Connor Center for the Rocky Mountain West in Montana , KUNC in Colorado, KUNM in New Mexico, with support from affiliate stations throughout the region. Funding for the Mountain West News Bureau is provided in part by the public broadcasting company.

Copyright 2022 KUNR Public Radio. For more, visit KUNR Public Radio.

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Voting tips ahead of the Montana primary election https://utahbbq.org/voting-tips-ahead-of-the-montana-primary-election/ Tue, 24 May 2022 20:27:55 +0000 https://utahbbq.org/voting-tips-ahead-of-the-montana-primary-election/

In an all-out effort to ensure Missoula residents have the correct information to vote, County Elections Administrator Bradley Seaman spoke to KGVO News on Tuesday to provide some late-breaking advice on voting for the June 3 primary election.

“The best tool for voters to know and understand where they are registered where their ballots are, whether they are voting by mail or at a polling station, is to www.myvoterpage.mt.com“, Seaman said. “It will let you know if you’re registered to vote, where you’re registered to vote, if you’re putting a ballot in the mail, and then the status of that ballot, so if you have returned, you can verify that we have verified that signature and we will count that ballot on election day.

Seaman said there were last-minute changes to polling stations for the primary.

“On my mt.com voter page, it’s going to list your voting location,” he said. “We did an update and we have four changes. So we contacted voters in those areas and sent them a voter confirmation card with their new polling location. If it was a polling station voter, we made sure to send them a card that showed them from that location to the new location, where their polling station was moved.

Seaman provided specific polling station locations for the upcoming primary.

“It’s going to affect Evaro voters,” he said. “They will vote across the street. We have voters from Lewis and Clark Elementary School who will be voting at Washington Middle School. We also moved Chief Charlo Elementary School and Meadow Hill Middle School to the old Cold Springs School, and voters who voted in Cold Springs are now in the new Jeanette Rankin Elementary School, so there was a bit of a redesign. But you can find out where you vote and even print a map to get back to your location at www.my voter page mt.com.”

For those who saved their mail-in ballots or forgot to fill them out, Seaman said the elections office also has advice for them.

“At any polling station, we can take your absentee or your ballot,” he said. “We will have drive-thru available Saturday, Monday and Tuesday at a new location, it will be at the Missoula County Fairgrounds, located just off Russell Street, so we will have ballot drop-off service at the field of fair. You can drop off your ballot in person at the Election Center (at 140 North Russell), or one of our 27 other polling locations can pick up your mail-in ballot. Just make sure you checked my voter page and know where to go if you are a voter at a polling station on Election Day.

General elections will be held on November 8.

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Enjoy new dishes at this local food truck https://utahbbq.org/enjoy-new-dishes-at-this-local-food-truck/ Tue, 24 May 2022 18:52:42 +0000 https://utahbbq.org/enjoy-new-dishes-at-this-local-food-truck/

Post :

Update:

Our taste buds are on fire as we kick off frantic food truck week, featuring today’s guest chef, Najati Abdalla, owner of Namash Swahili Cuisine.

Abdalla started his business to share his country’s cuisine with the Salt Lake community. Originally from Somalia, she moved to the United States in 2008. A talent for cooking runs in her family, with Abdalla learning to cook at age 12 to help her mother who also owned a food business. Before coming to the United States, Abdalla sold his own cuisine on the streets of Kenya.

She shared some of her favorite dishes with us, including Chicken Curry, Beef Curry, Coconut Bean Chapati, and Beef and Veggie Samosa. Serving excellent customer service and authentic Somali and Kenyan recipes, you can find her favorite dishes and more at various locations in the Salt Lake Valley.

You can connect with Abdalla on Instagram at @namash_swahili_cuisine and on Facebook at @namash

You can also find her on her website namashswahilicuisine.com and to locate her truck to see where you can find her next, check out the two links below.

namash-swahili-kitchen.square.site

thefoodtruckleague.com

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Utah unemployment rate continues to fall | Regional News https://utahbbq.org/utah-unemployment-rate-continues-to-fall-regional-news/ Mon, 23 May 2022 22:30:00 +0000 https://utahbbq.org/utah-unemployment-rate-continues-to-fall-regional-news/

(The Center Square) – Utah continued its downward trend in unemployment rates in April, according to figures from the Department of Workforce Services.

Nonfarm payroll employment in the state grew about 3.9% over the past year, adding 62,400 jobs since April 2021, the department said. According to the department, Utah’s seasonally adjusted unemployment rate fell slightly last month, from 2% in March to 1.9% in April, still well below the national unemployment rate of 3.6%. .

“The year has progressed into the spring and Utah’s economy continues on its expansion path,” said Mark Knold, chief economist at the Department of Workforce Services. “The unemployment rate fell to a new low of 1.9%. The rate has been falling since the beginning of the year, so the current rate leads us to what we expected for this spring. At 1.9%, the question now arises as to how low the unemployment rate can go? »

About 33,300 people in Utah were unemployed during the month of April, the data showed.

Private sector employment in the state saw year-over-year net job gains in Utah’s top ten private sector industry groups. Trade, transportation and utilities added 16,000 jobs, more than any other industry group. Leisure and hospitality added 11,200 jobs, construction 7,700 and education and health services added 7,000 jobs, according to the department.

Knold said it’s unclear if Utah’s positive unemployment trends will continue given international economic conditions and the federal government’s response.

“At the national level, the American economy is not sending worrying signals. But with high inflation and the Federal Reserve raising interest rates, many economists expect the U.S. economy to slow down as the year progresses,” Knold said. “It seems to be the Fed’s desire to fight high inflation. If so, it will act as a restraint mechanism during a further drop in Utah’s unemployment rate.

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A Kentucky teenager signs a letter of intent to become a plumber? Yeah https://utahbbq.org/a-kentucky-teenager-signs-a-letter-of-intent-to-become-a-plumber-yeah/ Mon, 23 May 2022 16:13:18 +0000 https://utahbbq.org/a-kentucky-teenager-signs-a-letter-of-intent-to-become-a-plumber-yeah/

Across the country, high school graduates are graduating and planning their academic and career choices and paths. Some might take a few courses or courses to help them start a business, a few might attend a two or four year college and work towards a degree, and some might enter an apprenticeship or college of trades. Either way, it’s an exciting time of self-exploration and independence.

My nephew who graduated in California works full time in an auto and body shop. He loves working on cars and this is the perfect choice for him. His journey has always led him to a profession.

KY high school student signs Letter of Intent to be a plumber

You normally think of athletic or university scholars when you hear or read that a high school student has signed a letter of intent. But for a prospective high school graduate in Kentucky, this is a letter of intent for a full-time job as a plumber.

WTVQ News reported that Montgomery County High School senior Jacob Bradley has officially signed with Fast flow plumbing in Mt. Sterling as an apprentice plumber.

Bradley is part of a unique co-op program at Montgomery County High School, which allowed him to work with Fast Flow while completing his education as an apprentice with a master plumber, which he would continue to do for the next two years.

Programs like this and company signing days are new, but Montgomery High School and many others plan to continue and expand them to help and highlight the high demand for skilled workers.

Watch the video of his signing day, HERE.

Is there really a shortage of skilled workers?

The US Census Bureau estimates that almost a quarter of the manufacturing workforce is 55 or older. As baby boomers age and retire, not enough young people are starting careers in the trades to fill their positions. This commercial shortage is itself due to several factors: Educational priorities.

Why is it so difficult to find qualified workers?

People’s work mentality has changed during the pandemic. Remote work has become a popular alternative to how work was done.

Across the country, the shortage of skilled workers is a real concern.

…filling them all remains a problem. During the COVID-19 pandemic, many people could work remotely, but it didn’t work for skilled workers. Carpenters, ironworkers, mechanics and others must do their work in person. Now, these skilled labor jobs are in high demand amid a nationwide shortage.

fox business

Thus, the need for skilled workers to manufacture, build, maintain and repair is greater than ever. Companies are now changing the way they attract workers. Some are increasing wages and benefits to bolster the shrinking workforce.

College is not for everyone. Consider a skilled trade that can get you working and earning money, in a fraction of the time. Just research your career interest, see what training is available in your area, and get started on your path to success today.

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78,000 pounds of infant formula arrives in the US – ABC4 Utah https://utahbbq.org/78000-pounds-of-infant-formula-arrives-in-the-us-abc4-utah/ Sun, 22 May 2022 14:48:20 +0000 https://utahbbq.org/78000-pounds-of-infant-formula-arrives-in-the-us-abc4-utah/

INDIANAPOLIS (AP) — A military plane carrying enough specialized infant formula for more than half a million baby bottles arrived in Indianapolis on Sunday, the first of several flights expected from Europe to relieve a shortage that has forced parents struggling to find enough to feed their children.

President Joe Biden authorized the use of Air Force planes for the effort, dubbed “Operation Fly Formula,” because no commercial flights were available.

The formula weighed 78,000 pounds (35,380 kilograms), White House press secretary Karine Jean-Pierre told reporters aboard Air Force One as Biden flew from South Korea to Japan.

Agriculture Secretary Tom Vilsack was in Indianapolis to greet the arrival of the first shipment.

The flights are intended to provide “some additional relief in the coming days” as the government works on a more sustainable response to the shortage, Brian Deese, director of the White House National Economic Council, said on Sunday.

Deese told CNN’s “State of the Union” that Sunday’s flight brought 15% of the specialty medical-grade formula needed in the United States, and due to various government actions, people are expected to see “more than formula in stores this week.” ”

Longer term, he said, the United States needs more formula suppliers “so that no single company has so much control over supply chains.”

The Biden administration has struggled to address the nationwide shortage of infant formula, especially hypoallergenic varieties. The crisis follows the closure of Michigan’s largest national manufacturing plant in February due to safety concerns.

The White House said 132 pallets of Nestle Health Science Alfamino Infant and Alfamino Junior formulas were to leave Ramstein Air Base in Germany for the United States. Another 114 pallets of Gerber Good Start Extensive HA formula were due to arrive in the coming days. A total of about 1.5 million 8-ounce bottles of the three formulas, which are hypoallergenic for children with cow’s milk protein allergies, are expected to arrive this week.

Indianapolis was chosen because it is a distribution center for Nestlé. The formula will be unloaded into FedEx tractor-trailers and taken to a Nestlé distribution center about a mile away where the company will perform standard quality control before distributing the supplies to hospitals, pharmacies and medical practices, according to an official from administration on site. .

Nestlé said that over the past few months it has been working “around the clock” to address formula shortages and help meet demand.

“We have significantly increased the amount of our formulas available to consumers by increasing production and accelerating the general availability of products at retailers and online, as well as in hospitals and home health care for the most vulnerable. vulnerable,” the company said in a statement.

“At Nestlé, we are absolutely committed to doing everything we can to provide parents and caregivers with the formula they need so their children can thrive,” he added. “We prioritized these products because they serve an essential medical purpose, as they are intended for children with cow’s milk protein allergies.”

As part of “Operation Fly Formula”, the Department of Agriculture and the Department of Health and Human Services are authorized to request the assistance of the Department of Defense to recover infant formula from overseas that meet U.S. health and safety standards, so they can get to store shelves faster, according to the USDA.

Alfaamino is primarily available through hospitals and home health care companies that serve patients at home.

US regulators and manufacturer Abbott Nutrition hope to reopen its Michigan plant next week, but it will take about two months before the product is ready for delivery. The Food and Drug Administration eased infant formula import requirements this week to try to ease the supply shortage, which has left store shelves empty of some brands and some retailers rationing supplies for parents nervous about feeding their children.

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GOP directs culture war fury at green investing trend https://utahbbq.org/gop-directs-culture-war-fury-at-green-investing-trend/ Sat, 21 May 2022 18:22:30 +0000 https://utahbbq.org/gop-directs-culture-war-fury-at-green-investing-trend/

SALT LAKE CITY — Republicans oppose Wall Street’s growing efforts to factor factors such as long-term environmental risk into investment decisions, the latest indication the GOP is ready to damage its relationship with large corporations to score Culture War points.

Many are targeting a concept known as ESG – which stands for environmental, social and governance – a sustainable investing trend that is sweeping the financial world. Red state officials ridicule it as politically correct and have woken up and are trying to stop investors contracting with states from embracing it at any level.

For right-wing activists who have previously pushed critiques of Critical Race Theory (CRT), Diversity, Equity and Inclusion (DEI), and Social-Emotional Learning (SEL ), it’s the latest source of acronym-based outrage to find a home at rallies, in conservative media and in legislatures.

ESG has yet to establish itself as the dominant political message, but the backlash against it is gaining ground. Last week, former Vice President Mike Pence attacked the concept during a speech in Houston. And on Wednesday, the same day he said on Twitter he planned to vote Republican, Elon Musk attacked him after Tesla lost its spot on the S&P 500 ESG Index. He called it a scam “armed by fake social justice warriors”.

The concept calls on investors to consider criteria such as environmental risk, pay equity or corporate transparency in their accounting practices. Aided by recently proposed disclosure requirements and ratings agency analysis, they have embraced the Principles to such an extent that those who use them control $16.6 trillion in investments held in the United States.

In response, Republicans — historically known for supporting less regulation — are trying in many places to impose new rules on investors. Their efforts reflect party members’ desire to distance themselves from big business to fend off those they see as ideological enemies.

“I don’t think we’re the big business party anymore. We are the people’s party — more precisely, we are the workers’ party. And the problem we have is that big banks and big business right now are trying to dictate how we’re going to live our lives,” West Virginia Treasurer Riley Moore said.

Opponents criticize ESG as a politicized and potentially costly diversion from purely financial investment principles, while proponents argue that consideration of the criteria more accurately accounts for risk and promises more stable returns.

“We focus on sustainability not because we’re environmentalists, but because we’re capitalists and trustees for our clients,” said Larry Fink, CEO of investment firm BlackRock and one of the leading proponents. , in a letter this year.

But Moore and others, including Republican Utah State Treasurer Marlo Oaks, argue that favoring green investments over fossil fuels deprives key industries of access to the financial system and capital. They targeted S&P Global Ratings to add ESG ratings to their traditional credit ratings. They fear that without change their scores will make borrowing for projects like schools or roads more expensive.

In an April letter, Oaks demanded a retracted analysis from S&P that rated Utah as “moderately negative” on environmental risk due to “long-term water supply challenges, which could remain a strain on its economy…given the widespread drought conditions in the western United States”

The letter was co-signed by the state’s governor, legislative leaders and congressional delegation, including Sen. Mitt Romney, whose former firm Bain Capital calls ESG factors “strategic, fact-based and focused.” on diligence”. He said the rating system “attempts to legitimize a dubious and unproven exercise” and attacks the “unreliability and inherently political nature of ESG factors in investment decisions”.

Although he likened ESG to critical race theory, Oaks said he was primarily concerned with capital markets and what he called attempts by fossil fuel opponents to manipulate them by making pressure on investors to choose companies with high ESG scores.

“DEI, CRT, SEL. Acronyms can be hard to follow,” he wrote on an economics blog last month, “but there’s a relatively new one you need to know: ESG.

Investors making carbon neutral or net zero criteria common were, in effect, Oaks said, limiting access to capital for oil and gas companies, hurting their returns and potentially contributing to skyrocketing gas prices.

In more than a dozen red states, officials dispute the idea that the current energy transition could make investments linked to fossil fuels more risky in the long term. They argue that employing asset managers with a preference for green investments uses public funds to pursue agendas that are out of step with voters.

In the states, anti-green investment efforts are supported by conservative groups such as the American Legislative Exchange Council and the Heartland Institute, a think tank skeptical of the scientific consensus on man-made climate change that has backed bills that divest public funds from institutions that use ESG or prohibit them from using it to rate companies or individuals.

In Texas, West Virginia and Kentucky, lawmakers have passed bills requiring public funds to limit transactions with companies that avoid fossil fuels. Wyoming has considered banning “social credit scores” that rate companies using criteria different from accounting and other financial metrics, like ESG

After conservative talk show host Glenn Beck visited the Idaho Statehouse and called ESG critical race theory ‘on steroids,’ the legislature passed legislation in March banning the investment of public funds in companies that prioritize ESG commitments over returns.

The American Legislative Exchange Council recently released a model policy that would subject banks managing state pensions to new regulations limiting investments motivated by what it calls “social, political and ideological” objectives.

Although the policy does not explicitly mention it, Jonathan Williams, the group’s chief economist, said the integration of ESG into broader political correctness trends was a driving force. He said his research shows that incorporating factors beyond traditional financial measures can reduce the rate of return on already underfunded state pensions.

Sustainable investing advocates deny this accusation and argue that considering the risks and realities of climate change equates to responsible investing.

West Virginia and Arkansas recently divested their pension funds to BlackRock in response to the asset manager’s addition of low-carbon businesses to its portfolios. Moore, the West Virginia treasurer, hopes others will follow.

While exciting, the green investment discourse differs from the recurring debates about gender and sexuality or how history is taught. Supporters and critics alike admitted they were surprised that pensions, credit ratings and investment decisions had become campaign fodder.

At the Utah state party convention last month, thousands of Republicans howled when Sen. Mike Lee described green investing in terms similar to critical race theory — another foil based on an acronym: “Between CRT, ESG and MSNBC, we get way too many BS,” Lee said.

Bryan McGannon, lobbyist at US SIF: The Forum for Sustainable and Responsible Investment, said naysayers were wrong to label sustainable investing trends as politics. If states refuse to consider how the future is likely to be less dependent on fossil fuels and limit how environmental risk can be considered, he said, they are making decisions with incomplete information.

“If a state ignores these risks, it can be a signal to an investor that it may not be a wise government to put our money with,” McGannon said. “Investors use a huge amount of information, and ESG is one piece of that mosaic.

———

Associated Press writers Stan Choe in New York and Lindsay Whitehurst in Salt Lake City contributed to this report.

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Analysis of National Bank (NYSE: NBHC) and Chino Commercial Bancorp (OTCMKTS: CCBC) https://utahbbq.org/analysis-of-national-bank-nyse-nbhc-and-chino-commercial-bancorp-otcmkts-ccbc/ Sat, 21 May 2022 14:14:42 +0000 https://utahbbq.org/analysis-of-national-bank-nyse-nbhc-and-chino-commercial-bancorp-otcmkts-ccbc/

Chino Commercial Bancorp (OTCMKTS: CCBCGet a rating) and National Bank (NYSE: NBHCGet a rating) are both finance companies, but which is the better stock? We’ll compare the two companies based on earnings strength, risk, valuation, profitability, institutional ownership, dividends, and analyst recommendations.

Insider and Institutional Ownership

5.8% of Chino Commercial Bancorp shares are held by institutional investors. In comparison, 97.6% of National Bank shares are held by institutional investors. 32.5% of Chino Commercial Bancorp shares are held by insiders. By comparison, 4.8% of National Bank shares are held by insiders. Strong institutional ownership indicates that hedge funds, endowments, and large fund managers believe a company is poised for long-term growth.

Profitability

This table compares the net margins, return on equity and return on assets of Chino Commercial Bancorp and National Bank.

Net margins Return on equity return on assets
Chino Commercial Bancorp 24.60% N / A N / A
National Bank 28.64% 10.23% 1.19%

Analyst Notes

This is a summary of recent ratings and recommendations for Chino Commercial Bancorp and National Bank, as reported by MarketBeat.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
Chino Commercial Bancorp 0 0 0 0 N / A
National Bank 0 1 2 0 2.67

National Bank has a consensus price target of $45.33, suggesting upside potential of 16.69%. Given National Bank’s likely higher upside, analysts clearly believe National Bank is more favorable than Chino Commercial Bancorp.

Volatility and risk

Chino Commercial Bancorp has a beta of 0.7, indicating that its stock price is 30% less volatile than the S&P 500. In comparison, National Bank has a beta of 0.9, indicating that its stock price is its stock is 10% less volatile than the S&P 500.

Benefits and evaluation

This table compares the revenue, earnings per share and valuation of Chino Commercial Bancorp and National Bank.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
Chino Commercial Bancorp $13.07 million 2.36 $3.13 million $1.19 9.66
National Bank $311.33 million 3.75 $93.61 million $2.75 14.13

National Bank has higher revenue and profit than Chino Commercial Bancorp. Chino Commercial Bancorp trades at a lower price-to-earnings ratio than National Bank, indicating that it is currently the more affordable of the two stocks.

Summary

National Bank beats Chino Commercial Bancorp on 12 out of 13 factors compared between the two stocks.

About Chino Commercial Bancorp (Get a rating)

Chino Commercial Bancorp operates as a bank holding company for Chino Commercial Bank, NA which provides commercial banking services to individuals and small businesses primarily in the Inland Empire region of Southern California. The Company’s deposit products include non-interest bearing deposits, money market accounts, checking and savings accounts, certificates of deposit and individual retirement accounts. It also provides commercial lending products, such as lines of credit, letters of credit, term loans and equipment loans, commercial real estate loans, accounts receivable financing, factoring, rental of equipment and other working capital financing; auto, home equity and home improvement lines of credit, and personal lines of credit; and real estate lending products including construction loans, land loans, residential real estate brokerage, commercial real estate conduit sales, mini-perm commercial real estate and residential mortgages. In addition, the company offers credit and debit cards, cashier’s checks, courier, direct deposit, remote deposit capture, electronic statement, electronic tax payment, overnight deposit, a notary, a safe, a savings voucher, bank transfer, stop payment and cash management, as well as online, telephone and mobile banking. It operates full-service branches in Chino, Ontario, Rancho Cucamonga and Upland, California. Chino Commercial Bancorp was founded in 1999 and is based in Chino, California.

About National Bank (Get a rating)

National Bank Holdings Corporation operates as a bank holding company for NBH Bank which provides various banking products and financial services to commercial, business and consumer customers in the United States. It offers deposit products, including checking, savings, money market and other deposit accounts, including fixed rate and fixed term deposits. The Company also offers commercial and industrial loans and leases, such as working capital loans, equipment loans, lender financing loans, food and agricultural loans, government and non-profit loans, owner-occupied commercial real estate loans and other commercial loans and leases; non-owner occupied commercial real estate loans consisting of loans on commercial properties, such as office buildings, warehouse/distribution buildings, multi-family, hospitality and retail properties; small business administration loans to support manufacturers, distributors and service providers; term loans, lines of credit and secured real estate loans; residential real estate loans; and consumer loans. In addition, it offers cash management solutions including online and mobile banking, commercial credit cards, wire transfers, automated clearinghouse, electronic bill payment, lockbox, cash capture remote deposits, merchant processing, vault, controlled disbursements and fraud prevention services, as well as other ancillary services including account reconciliation, collections, redemption accounts, zero balance accounts and transfer accounts. As of January 20, 2022, the company operated through a network of 81 banking centers located in Colorado, the greater Kansas City area, New Mexico, Utah and Texas. It also operates 121 ATMs. The company was previously known as NBH Holdings Corp. and changed its name to National Bank Holdings Corporation in March 2012. National Bank Holdings Corporation was incorporated in 2009 and is headquartered in Greenwood Village, Colorado.



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