#Climate Justice Valuations

[collapsedsquid]

I’ll conclude by returning to a theme I brought up earlier: the shrunken time horizon of the US ruling class. The current motley crew looks nothing like the set who planned the post-World War II order. They emerged from—or recruits were assimilated to—an ethnically and socially homogenous WASP aristocracy who felt themselves above quotidian distractions and rank commercial temptations. Of course, it was all in the interest of long-term accumulation under US guidance, but it was all successfully planned and executed (at least until things started slipping some in the 1970s). Now with the US in a long process of imperial decline, our planning elite seems fragmented and lost. You have Republicans criticizing Biden for not having shot down the Chinese balloon quickly enough, and Democrats acting as if it was an act of heroism. Our rulers don’t act like they have any good idea about coping with the rise of China, except with bellicose and one hopes ineffectual gestures, because God knows, we don’t want bellicose gestures to lead to an actual war.

And we have a capitalist class that has apparently given up on the future—incapable of dealing with the climate crisis, a truly dire threat, but also consuming capital rather than investing it. Net investment—net, that is, of depreciation—by both business and government—has been falling relative to GDP for decades. The vast flow of free money and 0% interest rates from the Federal Reserve has been channeled into an impressive set of bubbles: the most extended valuations of stocks in US history, crypto, unicorns, housing. It used to be normal to have one particular asset lead the way in a speculative orgy, whether it was stocks in the late 1990s or housing in the following decade. Now we’ve got multiple and serial bubbles that have only been partly deflated by the Fed’s tightening moves of the last year. And Wall Street is dearly hoping the central bank will reverse those moves in a few months and resume the cheap money flow. The bond vigilantes of the 1980s and 1990s, always on the lookout for an inflation that needs to be crushed, have largely disappeared.

I’ll give the last word to Etienne Balibar, who has diagnosed the affliction precisely. “We realize now that our ruling class is no longer a bourgeoisie in the historical sense of the word. It does not have a project of intellectual hegemony nor an artistic point of honor. It needs (or so it thinks) only cost-benefit analyses, “cognitive” educational programs, and committees of experts. That is why, with the help of the pandemic and the internet revolution, the same ruling class is preparing the demise of the social sciences, humanities and even the theoretical sciences.” The bourgeoisie no longer has any civilizational project, national or otherwise. Live for today, and if the water rises, they can just move inland. Or to their underground bunkers.

post-nationalism

[bouncybrain]

CharcterHub Exploration: Worlds

I briefly mentioned this in the last post about the social zones of the site. Worlds (Story Worlds) are a way to help organize your characters and stories by worlds, and/or by location within that world. This is going to be a lot more helpful if you're more into worldbuilding than character-building. Since I'm only going over this one creation aspect of the site on desktop, you're getting pictures again!

There's a few other things I'll probably go over in other posts, since I wrote this while waiting for events to unlock, so either stay tuned or block the characterhub tag since I use them all on these posts.

Reminder: CharacterHub offers two subscription models that unlock more options during creation and such, but I am not subscribed. These are all the base, free experience.

When you hit the "create" button, you get a lot of options to work with. The second one listed is "Story World" and the one we're going through together.

While I have a lot of OCs, I haven't uploaded enough interconnected ones that need a world to keep track of the worldbuilding (despite my love of worldbuilding), so I'm not going to actually publish one, but I'll walk through all the steps and options here.

First, the creation page:

The full list of options are as follows, verbatim as I can get, in the order of the drop-down list (* marks default):

{General}

Species

Culture

Magic

Location

Economy*

Factions

Climate*

Religion*

{Countries And Continents}

Number Of Continents

Countries And Nations In The World

Relationships Between Countries And Nations

Political Dynamics And Stability

Level Of Urbanization

Aspects Of Popularity Or Pride

Societal Structure And Hierarchy

Climate And Harshness

Natural Resources

Sources Of Energy

Weapons

Physical Anomalies

Faith And Religion

Food

Holidays And Celebrations

Laws And Authority

Systems Of Education

Clothes And Fashion*

Popular Jobs And Forms Of Work

Popular Forms Of Entertainment

Available Technologies And Advancement

{Cultural Identity And Heritage}

Motto

Fun Facts

Genre

Traditions And Rituals

Art And Aesthetics

Fashion And Apparel

Philosophical Schools

{Governance And Social Order}

Ruler

Laws And Authority

Justice System

Public Services And Utilities

Secret Societies

Propaganda And Information Control

Intelligence And Espionage

Guilds And Associations

Colonialism And Expansion

Social Mobility

{Technological And Magical Advancements}

Available Technologies And Advancement

Inventions And Innovations

Technological Constraints

Magic

{Economic And Resource Management}

Economy*

Economy And Trade

Resource Scarcity

Currency And Valuation

Environmental Conservation

{Historical And Temporal Context}

History And Lore

How Time Passes

Timekeeping And Calendars

Exploration And Discovery

Adventure And Quests

{Communication And Information}

Languages And Dialects

Communication Networks

Surveillance And Privacy

{Lifestyle And Social Dynamics}

Popular Jobs And Forms Of Work

Popular Forms Of Entertainment

Recreation And Sports

Tourism

Tourist Appeal

Festivals And Competitions

{Geopolitics And International Relations}

Diplomatic Relations

Relationships Between Countries And Nations

Political Dynamics And Stability

{Science Research And Exploration}

Science And Research

Space And Astronomy

Conflict And Resolution

{Urban And Environmental Planning}

Level Of Urbanization

Transportation Systems

Traffic

Characteristic In World Shape Or Form

To keep this post from also being an absolute fucking monster of a review of the site, I think this is a fantastic idea to have as well! While you can put your characters in folders to separate them, and put worldbuilding on those profiles, having the option to completely separate the universe your characters occupy is useful. Instead of having to go through and tweaking or dumping stuff unrelated directly to each character, you can just... edit the world itself.

I don't know if I'll upload characters who exist in a 'verse that requires worldbuilding to understand well, but if I do, I'll be using this.

Also, the extent of the free options is handy in realizing what you might be missing out on in the worldbuilding you've already done. Using every single one might be a little excessive, in my opinion, but having so many of them is great! One of the hardest parts of worldbuilding is knowing whether you've got enough detail, or if you're missing something in the middle of all your notes, so the clean UI and number of options is great.

I'd recommend CharacterHub on the worlds alone, honestly. And all the stuff in this post, again, is free. (5GB image storage aside.)

[drawingconclusions]

THE TRUMP TRIALS I'm not vying to be Trump's Vice-President pick, but you likely knew I was going to cover this topic anyway. Former President Trump can sometimes be verbally abrasive to many and he often commits several unforced errors, but something about these trials against him seem overtly political to me and many others.

Gregg Jarrett penned an insightful article on Fox News regarding the hush money trial, breaking down how illogical & meritless it is. According to him, Stormy Daniels apparently at one point denied the affair, then turned around and denied that denial! (So does that mean she legitimizes her accusations only when it's convenient?) Also, lawyer Jarrett makes it clear that Non-Disclosure Agreements (a key topic in the case) aren't illegal and whether Trump knew about it or not, it isn't criminal to have knowledge of a "non-crime". Finally, the election in question took place in 2016, and yet D.A. Alvin Bragg accuses Trump of "falsifying" records in 2017, post-election! How in the world does that work?!

And regarding the previous case against Trump brought by New York State Attorney General Letitia James: I don't know whether or not the Trump organization inflated their stated valuations. If you don't already know by now, I'm not a real estate mogul. However, commercial real experts have stated that many companies & businesses supposedly overstate their commercial property valuations. And Fox News stated that the Trump organization even instructed the involved banks to not use their company's valuations! Seems to me there was no intent to defraud there. And yet Letitia James proceeded with the case and Judge Engoron happily decreed a near half-billion penalty!

In March of this year, the New York Post pointed out that NY Attorney General Letitia James served up a lawsuit against major beef producer JBS USA Food Co. Details of the case reveal that her complaint against JBS stems primarily from the left-leaning belief that beef contributes to climate change. It's absolutely unbelievable. So that's why I haven't seen those commercials touting New York as a go-to destination for new businesses anymore! It must be clear to everyone, even the NY tourism board, that any corporation or individual that goes against the "woke" mantra of the moment is doomed to face prosecution or harassment!

According to the well-known phrase, justice is meant to be blind and intended to be applied equally. Justice is not meant to be dished out vindictively to political opponents or used as a means of harassment against those who believe differently or who question the establishment. Whether or not you agree with Trump, whether you despise him or respect him, if we're honest, I think we can all agree that unfortunately we've entered a dangerous phase in America with the Biden administration's indictments against a leading political rival. And what Democrats don't seem to realize is that these haphazard charges are setting alarming precedents that can also be used against them in the future. As I've written before, do we really want to venture down this route as a country?

[oilgasexpwit56]

Oil and Gas Expert Witness

Navigating the Complexities of Oil and Gas Expert Witnesses

In the realm of legal disputes and litigation concerning the oil and gas industry, complexities abound. From environmental concerns to contractual disagreements, navigating the intricacies of this sector requires specialized knowledge and expertise. This is where oil and gas expert witnesses play a pivotal role. Serving as trusted advisors and knowledgeable authorities, these professionals provide critical insights and analysis that can sway legal outcomes and ensure justice is served.

1. The Importance of Expert Witnesses in Oil and Gas Litigation:

Oil and gas litigation often involves highly technical and nuanced matters that are beyond the comprehension of the average layperson or even legal professional. Expert witnesses bridge this gap by offering specialized knowledge and experience that can clarify complex issues for judges and juries. Whether the dispute revolves around drilling operations, environmental compliance, or valuation of assets, these experts provide invaluable insights that help stakeholders make informed decisions.

2. Qualifications and Expertise of Oil and Gas Expert Witnesses:

Effective expert witnesses in the oil and gas industry possess a unique blend of academic credentials, industry experience, and specialized knowledge. Many hold advanced degrees in relevant fields such as petroleum engineering, geology, or environmental science. Additionally, they often have years of hands-on experience working in various capacities within the oil and gas sector, giving them practical insights that cannot be gleaned from textbooks alone.

3. The Role of Oil and Gas Expert Witnesses in Environmental Disputes:

With growing concerns over climate change and environmental sustainability, disputes related to oil and gas operations' environmental impact are becoming increasingly common. Expert witnesses play a crucial role in assessing the environmental implications of drilling activities, pipeline construction, and other operations. By conducting thorough analyses and presenting evidence-based findings, these experts help courts evaluate the extent of environmental harm and determine appropriate remedies.

4. Resolving Contractual Disputes with Expert Witness Testimony:

Contracts are the lifeblood of the oil and gas industry, governing everything from exploration and production rights to royalty payments and asset transfers. When disputes arise over contractual interpretations or breaches, expert witnesses can provide clarity and interpretation of industry standards and practices. Their testimony can shed light on complex contractual language and industry norms, helping parties reach fair and equitable resolutions.

5. Valuation and Financial Matters in Oil and Gas Litigation:

Valuing oil and gas assets is a complex endeavor that requires a deep understanding of geology, engineering, and market dynamics. Expert witnesses specializing in valuation and financial matters play a crucial role in determining the fair market value of oil and gas reserves, production facilities, and exploration projects. Their analyses inform decisions regarding asset acquisitions, divestitures, and investment strategies, ensuring that parties are adequately compensated for their interests.

6. Challenges and Pitfalls in Utilizing Oil and Gas Expert Witnesses:

While expert witnesses can be instrumental in bolstering legal arguments and providing clarity in complex matters, their effectiveness can be undermined by various challenges and pitfalls. These may include biases, conflicts of interest, or insufficient preparation. It is essential for legal teams to carefully vet potential expert witnesses, assess their credibility, and ensure that their testimony withstands scrutiny under cross-examination.

In conclusion, oil and gas expert witnesses play a critical role in resolving legal disputes and ensuring justice in the complex world of the energy industry. Their specialized knowledge, experience, and expertise provide invaluable insights that help stakeholders navigate the complexities of oil and gas litigation. Whether addressing environmental concerns, contractual disputes, or financial matters, these professionals serve as trusted advisors who contribute to fair and equitable outcomes. As the oil and gas industry continues to evolve, the demand for skilled expert witnesses is likely to grow, underscoring their importance in the legal landscape.

[blackbirdsrest]

Blackbird's Article Roundup

These are the latest articles I've found and boosted on mastodon, and am sharing here for folks who don't keep up with me there. I hid the links for a few more articles behind the read more to keep this post from being too long. First up we have a criminal Justice article that's infuriating but it highlights the terrible effects of Louisiana's three strike laws and stuff pushed by attorney general Landry.

Next up is this article on the refusal of the Canadian Government to search the Prarie Green Landfill where they believe the bodies of Morgan Harris, Marcedes Myran, and an unidentified woman, who's been given the name Mashkode Bizhiki’ikwe by the Indigenous community, are located.

Next article on the list is one about the need in Canada to develop an integrated wildfire and forest management plan that prioritizes Indigenous knowledge and science in order to limit the destruction of ecosystems.

This article is on the need for air conditioning units in schools due to the intensified heat waves, and the lack of community funding in many districts to address this need.

This last article is on how 85% of polled college faculty members wouldn't recommend going to college in Florida to a student or colleague, and how there's an exodus of brain drain from the state due to the current political climate.

That's all for this article round up.

[coinnewz]

Binance slashes costs, Ripple ready for US banks and crypto VCs return

The crackdown on crypto firms by the United States Securities and Exchange Commission (SEC) appears to have severely affected Binance’s business. During the past few weeks, the crypto exchange reportedly fired over 1,000 employees and slashed some benefits. According to Binance, the “current market environment and regulatory climate” have caused a decline in profits, suggesting more cuts may be in the works. A spokesperson told Cointelegraph the firm would consider scaling back on “certain products, business units, staff benefits and policies” in response to business and regulatory concerns. Binance has yet to face the courts and the 13 charges brought against it by the SEC, as well as the outcome of an investigation by the U.S. Justice Department targeting its activities and executives. Despite cloudy prospects ahead, Binance is still comfortably the most popular centralized crypto exchange in the world, holding assets worth over $63 billion. A token breakdown by DefiLlama shows that the majority of assets held in Binance include Tether (USDT) (27.55%), Bitcoin (BTC) (26.95%), BNB (BNB) (12.82%), and wrapped Ether (10.08%). In remarks on Binance’s anniversary on July 14, the exchange’s CEO Changpeng Zhao recalled that the company’s journey was “never all smooth sailing.” This week’s Crypto Biz looks at Binance’s ongoing efforts to curb declining profits, Ripple’s expectation that U.S. banks may soon adopt XRP (XRP) and the first signs of venture capital returning to crypto. Ripple CLO says court ruling could encourage banks to adopt XRP Stu Alderoty, chief legal officer of Ripple Labs, believes that U.S.-based banks may turn to XRP for cross-border transactions following a recent court ruling. “Hopefully, this quarter will generate a lot of conversations in the United States with customers, and hopefully, some of those conversations will actually turn into real business,” he said during an interview. With the label of “security” seemingly no longer hanging over XRP, partnerships between Ripple and banks dampened by the SEC lawsuit could find new life. Bank of America had been eyeing the blockchain firm in 2019, and American Express first partnered with Ripple in 2017. #NEW: Chairmen @PatrickMcHenry and @CongressmanGT issue a statement regarding the court ruling in SEC v. Ripple and the need for legislative clarity in the digital asset ecosystem to prevent further uncertainty in our financial markets. Read more https://t.co/y1nITVmHvh pic.twitter.com/tn0dn0BDHd — Financial Services GOP (@FinancialCmte) July 14, 2023 Binance cuts back on employee benefits, citing ‘decline in profit’ Global cryptocurrency exchange Binance is cutting back on certain employee benefits amid reevaluation efforts at the firm. The company reportedly stopped offering reimbursement to employees for certain expenses, including using mobile phones, fitness and working from home. Binance cited the “current market environment and regulatory climate,” which led to a decline in profit, suggesting more cost-cutting measures may be needed. The report follows a massive layoff in June that affected over 1,000 employees in the exchange. Binance and Zhao were both targeted in suits by the SEC for allegedly offering unregistered securities in the United States. Marathon shareholders file lawsuit against company’s top management Crypto mining company Marathon Digital is heading to court over allegations that its CEO Fred Thiel, alongside other top executives, breached fiduciary duties, unjustly enriched themselves and wasted corporate assets. According to the complaint, the company’s management has been downplaying its problems, artificially inflating Marathon’s valuation, receiving excessive compensation, making lucrative insider sales, and receiving unjustifiably elevated bonuses based on false and misleading statements. Polychain Capital, Coinfund raise $350 million for new crypto funds Web3 venture firms are gearing up for new investments in crypto projects as Polychain Capital raised $200 million for a new investment fund and Coinfund secured $152 million for a seed fund. Polychain still intends to raise $400 million in total for the new fund. It currently operates three funds with approximately $2.6 billion in assets under management. As for Coinfund, its CEO Jake Brukhman said the company set a goal of raising $125 million but managed to rake in an additional $27 million due to a resurgence of interest in the industry. The total volume of venture funding for crypto startups has declined by 76% from year-over-year due to the bear market and turbulence in the industry. July is CoinFund’s 8th anniversary, celebrating the journey of @jbrukh @flexthought and team from kitchen table to cap table. We’re thrilled to bolster this milestone with the announcement that CoinFund has closed its $158M Seed IV Fund to back the leaders of the new internet pic.twitter.com/6kwBFuIHiy — CoinFund (@coinfund_io) July 18, 2023 Before you go: Bitcoin rally will lead to “speculative blow-off top” in 2024, Mark Yusko predicts BlackRock’s application for a spot Bitcoin exchange-traded fund has sparked the beginning of a new crypto bull market, which will go parabolic at some point closer to the halving scheduled for April 2024, according to Mark Yusko, the chief investment officer and founder of Morgan Creek Capital. Crypto Biz is your weekly pulse of the business behind blockchain and crypto, delivered directly to your inbox every Thursday. Source link Read the full article

[esgagile]

The Increasing Demand for ESG Investing

As an ESG Consulting in Dubai, Investors are increasingly evaluating companies based on their environmental, social, and governance (ESG) standards and financial performance. ESG investing can help to lower risks and enhance long-term financial stability by encouraging firms to prioritize sustainability and social responsibility. The rise in public awareness of concerns like climate change, social justice, and inequality has contributed to the growth of the ESG investment movement. Positive change could be sparked by ESG investing both within businesses and across industries.

We are an ESG Strategy consultant in Dubai; Increased shareholder activism is one of the critical ways that ESG investing is altering the corporate legal landscape. Investors increasingly leverage their shareholder power to pressure businesses to make changes as ESG issues become more critical to investors. This can take many forms, such as submitting shareholder resolutions, conversing with the company's management, and casting votes on corporate governance matters. Investors use various techniques, such as ESG ratings, to evaluate the ESG performance of companies.

As ESG Reporting consultants in Dubai, these ratings consider things like carbon emissions, labor standards, and board diversity. For instance, MSCI's ESG ratings are intended to be prospective, considering a company's exposure to ESG risks and possibilities. Academic research suggests that companies with strong ESG indicators may have cheaper capital costs, more accessible access to finance, and higher valuations. However, each industry and area have a different relationship between ESG and financial performance. Despite the potential advantages of ESG investment, there are drawbacks and difficulties to consider.

As an ESG Consulting in Dubai, the difficulty of evaluating and comparing ESG performance across firms is one of the significant issues. ESG investment reshapes corporate law by encouraging firms to prioritize sustainability and social responsibility, lowering risks, and fostering long-term financial stability. Even though there are many ESG ratings and data suppliers, an agreed-upon technique still needs to assess how well corporations perform in these areas. Due to this, choosing which businesses to invest in can be challenging for investors. Increased shareholder action is one-way ESG investing is bringing about change.

By submitting shareholder resolutions, speaking with firm management, and participating in corporate governance voting, shareholders leverage their influence to demand reform within corporations. Companies that don't adhere to ESG guidelines face legal problems due to ESG investing. Fines and other legal repercussions may apply if these standards are not met. Investors can assess companies' performance in these areas more effectively with efforts to standardize ESG reporting, such as the Task Force on Climate-related Financial Disclosures (TCFD) framework.

Being an ESG Strategy Consultant in Dubai, the importance of ESG investing is projected to increase over the next few years, making it a significant trend. Companies will be pressured to enhance their ESG policies if investors continue to value sustainability and social responsibility highly. This might result in considerable adjustments to how businesses run, eventually benefiting the economy and the environment. To fully realize the potential advantages of sustainable investing, solving the problems and restrictions associated with ESG investing is vital.

[w-ht-w]

Article: “Democrats took an unconscionable gamble — and it worked”

During the Republican primary season, Democrats took a big risk: They boosted Trumpist, election-denying candidates over their more moderate opponents.

During the primaries, Democrats spent tens of millions assisting Trumpist fringe candidates in at least 13 races. Seven of those efforts failed, but six succeeded. With Democratic assistance, MAGA candidates won the Republican gubernatorial primaries in Illinois, Maryland and Pennsylvania. (1)

Context: article’s author is a self-described "right-leaning libertarian." (2)

---

Comments on the article:

in the wake of the Democrats' inability to get support from "moderate" Republicans for Electoral count reform. His sense was that you looked at what the non-insane Republicans did in the House and very, very few of them seem willing to stand up and block the nuts -- so if the less extreme candidate wins you still get the crazy investigations and the turn from reasonable policy and the blocking of nominations and so on. That is, at the level of actual results there isn't much to favor the less extreme Republican over the Trumpkin. That makes the strategy seem a lot wiser to me, ... (1)

Choosing your opponent is a valid tactic. (1)

Democrats played to win. And they were right to. At this point in the onset of the GOP's insanity, any increase in their power is a danger to our future. Let this tired example of Democrats being held to higher standards than Republicans also fade with dreams of a "red wave". (1)

In morally evaluating whether an action was right, it’s not just about the means, but also the ends.

It’s like the use of violent protest on Jan 6 vs. BLM. One could argue that the violent means employed by both protesters were wrong, deontologically. In an ideal world, we would never have to use violence and risk lives to achieve the moral outcome we want. One could also argue that the use of violence in both cases is ultimately counterproductive/net-negative to the cause of justice and peace. But even if that were the case, there are varying level of “bad”/negative.

In the case of Jan 6, violence was used as the predominant means, with invalidating election results as the ends. Both the means and the end were wrong, in my view.

In the case of BLM, violence was occasionally used as a means (but it was nowhere near predominant), with drawing attention to the excessive use of police force as the ends. The means were not perfect, but the end was just, in my view.

So here, in the case of Democrats gambling to pick political opponents in the 2022 midterm elections...I may not love the means; I may wish we didn’t have to resort to such methods; but I do believe the end (of electing the party that unanimously abides by the current democratic/election system) was just. In my moral valuation, focusing on large-scale consequences, I believe the Democratic Party’s gamble was a net-positive one. I want to see Biden implement more of his agenda (like the Inflation Reduction Act, the largest ever U.S. federal investment in climate technology). I want the party that predominantly supports LGBTQ+ rights, universal abortion access, raising minimum wage, universal healthcare, improving public education. And opposes the death penalty.

Democrats are criticized for being overly-idealistic. And I don’t understand how to evaluate a party on the basis of actual results, yet. But I’d rather a party has its heart in the right place, its head facing in the right direction, before I evaluate their effectiveness.

In an ideal world, leaders are elected via the merit of their ideas by an informed electorate. It’s good to keep our eyes on that prize, of an ideal world. But we aren’t there yet. To get there, we may have to make some unsavory decisions/sacrifices.

And again, I’m sure Republicans think similarly, to use unsavory means in justifying a perceived worthy/moral end.

The difference is that, currently, on the whole, I don’t agree with their ends. 

1. https://www.washingtonpost.com/opinions/2022/11/09/democrats-cynical-primary-strategy-worked/

2. https://en.wikipedia.org/wiki/Megan_McArdle

[theselauses]

CBD tenant docks rent due Covid; wins relief against forfeiture of option

What happens if a lessee duly exercises its option over a commercial tenancy but the landlord does not respond with any proposal as to market rent and fails to provide to the lessee a new lease as the arrangement requires it to do?

A dispute over a convenience store tenancy in Brisbane’s CBD at the heart of the Cross River Rail redevelopment precinct in Albert Street provides illustrates the dilemma and provides a good example of relief against forfeiture at the margins.

NightOwl Properties entered into a lease at 132 Albert Street Brisbane in October 2010 which contained two 5 year options the first of which was to start in October 2020.

In September 2019 Cross River Rail construction work began within metres of the shopfront and that part of Albert Street was closed to traffic.

In January 2020 – within the option exercise window – NightOwl’s Alan Minshull gave to its landlord Replay, a written notice of exercise of the first option period by email to its director Jon Sophios.

He requested a downwards rental review having regard to “the current retail climate and general market conditions” but made it clear he was open to discussion and requested an early response.

In March 2020 – with the onset of the Covid pandemic – Australia closed its international border and Queensland closed its southern border to interstate residents.

In April 2020 a National Cabinet Mandatory Code of Conduct imposed a set of good faith principles for application to commercial tenancies where tenants’ retail businesses were adversely affected by the “once in a century public health crisis”.

Shortly thereater, NightOwl sent store turnover figures and notified Replay that it proposed to reduce rent payments in line with the reduction in its turnover

The landlord notified it must comply with is lease obligations until any rent relief had been agreed.  NightOwl prided further financial data as requested.

Queensland’s COVID-19 Emergency Response Regulation came into force at the end of May. That regulation required the landlord to “cooperate and act reasonably and in good faith in negotiating a reduction in rent”, ie to provide rent relief whether by way of deferral or waiver but requiring at least half whatever concession was agreed to be waived rather than merely deferred.

Between April and August 2020, NightOwl paid self-assessed reduced rent which Replay accepted.

It resumed paying the full rent and outgoings in September.

On the last day of the original term – still without any acknowledgement of the renewal – NightOwl sent a rental valuation pitching annual market rent at $81,000 plus outgoings.

Disruption by ongoing Cross River Rail construction featured in valuer’s market rent assessment.

Follow-up from NightOwl’s franchising director Craig Turrell and in-house solicitor Libby Fitzgerald failed to secure any response from the landlord or its solicitors.

The tenant then sought to have the market rent determined by the mechanism contained in the lease by inviting Replay to make a selection from the three specialist retail valuers it had nominated to perform the exercise.

On 9 December, the landlord’s solicitors finally responded only to notify that the renewal was refused by reason of NightOwl’s failure to pay full rent during the Covid emergency response period.

“The Lease is not affected by the COVID Regulation,” the solicitors responded and demanded – by way of a Notice to Remedy Breach of Covenant – $58,000 in rent that NightOwl had withheld.

Notwithstanding the tenant promptly paid that sum in full, the landlord still refused to grant a renewal contending that NightOwl’s breaches after giving the option exercise notice in January denied it the additional term.

The dispute came before Justice Thomas Bradley in the Supreme Court at Brisbane.

NightOwl chose not to argue any entitlement for reduced rent under the Covid emergency response regulation and conceded that for the purposes of the contest, it had been in breach by failing to pay in full.

The argument turned on whether by its conduct, the landlord had waived the tenant’s breaches and if not, whether the tenant was entitled to relief against forfeiture of the lease to which it was otherwise entitled pursuant to the option.

A familiar option renewal proviso required that there be no unremedied breach that had not been waived by the landlord at the time the option is exercised “and thereafter prior to the expiry date”.

And another necessitated the lessee to have “at all times during the term strictly observed and performed the provisions of the lease”.

Justice Bradley observed that a landlord who receives and accepts rent from a tenant in breach is usually taken to have waived its right to re-enter for the breach because acceptance of rent is inconsistent with a right to terminate for the earlier failure to pay.

Replay’s acceptance of December 2020 rent was – he ruled – a recognition that the tenancy persisted constituted a waiver of its right to re-enter.

It did not however put the tenant in a position as if there had been no breach and the landlord remained entitled to rely on such breaches as a basis to refuse to grant a new lease.

Neither was its silence is to be taken as a waiver of its right to rely on NightOwl’s breaches to avoid the obligation to grant a new lease or otherwise rely on the option provisos to that end.

Justice Bradley went on to note however that the landlord–tenant relationship is not simply contractual because it involves a grant of a leasehold estate.

“Equity abhors a forfeiture,” he observed. “It is a long-standing practice to do justice between parties by granting relief against forfeiture of leasehold estates where an instrument seems to require strict observance of formalities that, in truth, were included as security to ensure the payment of rent”.

In equity – he explained – a proviso in a lease for re-entry on a failure to pay rent is regarded as merely a security for the rent.

Thus where a landlord can be restored to the position it was in before breach, the tenant is entitled to equitable relief against forfeiture, if the tenant has remedied.

“I reject Replay’s submission that the court is unable to grant equitable relief against the forfeiture of an option in a registered lease where the circumstances would otherwise make relief appropriate.

Because of many factors – NightOwl was a long-standing tenant; the landlord long delayed its responses; it knew the tenant had conducted itself as having validly exercised the option;  the payment of reduced rent was not a “wilful” or grave breach – he adjudged the relief should be granted  even though the landlord’s conduct could not be classed as unconscionable.

“In all the circumstances, it is necessary to intervene to avoid injustice [and] the [option] covenant of the Lease ought to be specifically performed,” he ordered.

Note that NightOwl was ineligible for relief under Property Law Act s 128(4) because that section does not have application to breaches which occur after a lessee gives notice of exercise of an option, prior to the end of the original term.

NightOwl Properties Pty Ltd v Replay Australia Pty Ltd [2022] QSC 204 Bradley J, 30 September 2022

from Blog – QLD Business + Property Lawyers https://qldbusinesspropertylawyers.com.au/blog/cbd-tenant-docks-rent-due-covid-wins-relief-against-forfeiture-of-option/ from QLD Business + Property Lawyers https://qldbusinesspropertylawyersbrisba.tumblr.com/post/698583619595304960

[advjust]

Ap hourly news

and around the. Get in-depth enterprise reporting from across the U.S. Read, watch and listen to news stories by our Spectrum News journalists and local partner publications. Our global journalists and reporters are the first to break the worlds stories. Spectrum News ofrece historias e información que te importan tanto a ti como a tu comunidad. Petros Giannakouris/AP Show More Show Less 2 of 18. Ben & Jerry’s also claimed the deal violated the 2000 acquisition agreement that allowed Ben & Jerry’s to continue its progressive social mission independent of business decisions made by Unilever. Spectrum News provides stories and information that matter to you and your community. 1 of 18 The Sturgeon moon rises behind a replica of an ancient bronze statue of Zeus or Poseidon, in Corinth, Greece, on Friday, Aug. In its suit, Ben & Jerry’s argued the move by Unilever “poses a risk” to the integrity of its brand. Last year Ben & Jerry’s independent board said it was going to stop selling its ice cream in the Israeli-occupied West Bank and contested east Jerusalem, saying the sales in the territories sought by the Palestinians are “inconsistent with our values.”Įarlier this year, Unilever announced that it was selling its business interest in Ben & Jerry’s in Israel to its Israeli licensee, which would market the products with Hebrew and Arabic labels. In the aftermath of the 2020 death of George Floyd, Ben & Jerry’s became an advocate for Black Lives Matter. That activism continued after it was purchased by Unilever in 2000 with the focus on, among other issues, migrant justice and climate change. nuclear weapons spending in the 1980s, and in the 1990s, supporting LGBTQ+ rights and farmers. Similar "Flagship Check-In" areas already exist in Los Angeles and Miami, with another opening this summer in Chicago.Ben & Jerry’s spokesman Sean Greenwood said Monday that the company had “no new position for us to share at this time.”īen & Jerry’s complaint in the case filed last month outlined the company’s tradition of social activism over its 44-year history, including opposition to U.S. 000,006, by the valuation contract, ap. The airline also unveiled a new VIP check-in area at JFK Wednesday to ease its top customers and first class transcontinental passengers through the airport. The wage accepted, counterproposals of the company, brings the hourly wage to 66. That way coach passengers no longer walk through first class on their way back to their seats, giving first class passengers more privacy. Vahidi would not say what routes would be eliminated.Īmerican will also allow boarding through the second door on these planes. In order to increase Los Angeles service, the airline will have to cut elsewhere. Airlines are limited in the number of daily takeoffs and landings at JFK. Exclusive Canadian provider of 24/7 AP world news: With over 50 Pulitzer Prizes, APs journalists are the first to break the worlds stories, which are only available in Canada through CP. The new planes have nearly a third of their seats in business or first class. The high frequency is favored by business travelers who pay higher fares for last-minute tickets. JetBlue and Virgin America also offer non-stop flights. The route is the most competitive domestically, with Delta and United fighting with American for corporate contracts.

[rjzimmerman]

This is the latest in Senator Ellizabeth’s Warren’s “plan” for climate action and environmental justice. The link is her essay published in Medium. Here’s a summary of all this from the Washington Post:

Sen. Elizabeth Warren (D-Mass.) unveiled her latest climate plan that calls for spending $1 trillion over the next decade on environmental justice, focusing efforts on vulnerable communities most impacted by climate change.

The details: Warren’s plan includes shifting the Council on Environmental Quality to a Council on Climate Action that prioritizes environmental justice. It proposes reversing funding cuts to the Environmental Protection Agency, including to its Civil Rights office and Office of Environmental Justice. The plan also includes a bill — the Climate Risk Disclosure Act — that would “require banks and other companies to disclose their greenhouse gas emissions and price their exposure to climate risk into their valuations, raising public awareness of just how dependent our economy is on fossil fuels.”

The reaction: It generally earned praise from environmentalists, with the Sunrise Movement called it a "bold plan to deliver environmental justice and a just transition while fighting climate change."

[bigyack-com]

DealBook: Exclusive: Airbnb Imagines a ‘Stakeholder’ World

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Airbnb moves beyond shareholders

Brian Chesky, Airbnb’s co-founder and C.E.O., spoke exclusively to Andrew last night about the company’s announcement today that it will think about all “stakeholders” when it comes to corporate governance, not just investors.The move is Mr. Chesky’s take on the Business Roundtable’s recommendations last year that companies consider employees, the environment and more in their business decisions.• Airbnb is planning to hold a “Stakeholder Day.” It would be like a traditional annual shareholder meeting — except that everyone from customers to “hosts” to employees and others will be invited.• It will also change its compensation program, with factors important to stakeholders like progress on guest safety taken into account when bonuses are calculated.“I don’t want to be one of those C.E.O.s to say we’re trying to do all this great stuff, but then we treat board meetings exactly like every other board meeting,” Mr. Chesky told Andrew. He added that he doesn’t think this is particularly radical: “I think this is where the world is going.”The big picture: • Airbnb remains under fire on a number of fronts, including battles with regulators over housing laws, concerns over the safety of its customers and claims of discrimination by hosts. They’re among the struggles that surround the company’s plans to go public this year.• It’s unclear whether investors, as one of many groups of stakeholders, will embrace their diminished stature within Airbnb’s universe.• And it remains to be seen whether the new goals will increase the company’s valuation in its market debut.____________________________Today’s DealBook Briefing was written by Andrew Ross Sorkin in New York and Michael J. de la Merced in London.____________________________

Microsoft’s ambitious climate goal: going “carbon negative”

The tech giant unveiled a response to climate change yesterday that goes beyond offsetting carbon emissions. It wants to erase its entire historical carbon footprint by 2050, a target that no other major company has set before.What the plan involves:• Becoming “carbon negative” by 2030, which means not only ending the emission of carbon into the atmosphere, but also removing it.• Creating a Climate Innovation Fund that will invest $1 billion over the next four years into developing carbon-removal technology, which currently isn’t commercially viable.It goes further than other environmental pledges by Fortune 500 companies. Amazon said last year that it aimed to be carbon neutral by 2040. And PepsiCo announced this week that it wanted to cut its carbon emissions by 20 percent over the next decade. Climate activists hope that such moves will spur other corporations to think just as big.But there’s reason to be skeptical of Microsoft’s pledge. Sue Reid of the environmental nonprofit group Ceres told Reuters that the economics of carbon removal remained murky: “That math is all facing some new uncertainty and vulnerabilities tied to exacerbated climate change impact,” such as more wildfires, she said.Expect this to be a huge topic at the World Economic Forum in Davos, Switzerland, next week. Andrew will be on the ground to give you the inside scoop.

Inside Leon Black’s moneymaking machine

Apollo Global Management is one of Wall Street’s biggest private equity firms, managing over $320 billion in assets. Apollo’s success is due in large part to the strategies of its founder, Leon Black, who gets his close-up in this week’s Bloomberg Businessweek cover story.“Black’s aggressive approach — involving layoffs and slashing benefits — is also among the most profitable,” Caleb Melby and Heather Perlberg of Businessweek write. “Apollo’s flagship private equity fund, which it opened to investors in 2001, has delivered annual returns of 44 percent.”Highlights from Mr. Black’s career include:• Working with Mike Milken on junk bonds, a term Mr. Black still hates because competitors came up with it: “We were never accepted by the Goldmans and the Morgans and the Kidder Peabodys and the First Bostons.”• Investing where others wouldn’t dare. “Everybody else is running for the doors, and we’re backing up the trucks,” Mr. Black told Businessweek.But his biggest problem right now might be his association with Jeffrey Epstein:• The depths of Mr. Black’s financial ties to the late financier are unknown, but he is known to have given $10 million to Mr. Epstein’s charity and persuaded the financier to invest in a friend’s muffler company.• “After Epstein was found dead in his Manhattan jail cell a month later, former Apollo employees joked darkly that his death had made Black’s life easier.”

Why banks should give thanks to Trump

President Trump ribbed a top JPMorgan Chase executive this week when he said her bank should thank him for its stellar earnings. He may have had a point, at least when it comes to his tax cuts, writes Yalman Onaran of Bloomberg.• Savings for America’s top six banks — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley — from the 2017 tax overhaul have now surpassed $32 billion.• The banks “posted earnings this week showing they saved $18 billion in 2019, more than the prior year, as their average effective tax rate fell to 18 percent from 20 percent,” Mr. Onaran writes.• “The six firms posted $120 billion in net income for 2019, inching past 2018’s mark. They had never surpassed $100 billion before the tax cuts.”

Can Alphabet stay in the $1 trillion club?

The parent company of the search giant Google hit $1 trillion in market value yesterday, the fourth tech company to do so. But Alphabet faces challenges to stay at that level:• Regulation. Dai Wakabayashi of the NYT notes that “it faces investigations from Congress, state attorneys general and the Department of Justice,” as well as pressure from other regulators around the world.• New leadership. Alphabet’s co-founders, Larry Page and Sergey Brin, have taken a step back, leaving the company in the hands of Sundar Pichai, who has been criticized as lacking vision.• Shareholder sentiment. Investors are “debating whether the largest internet stocks have gotten too pricey,” Amrith Ramkumar of the WSJ writes.And here’s why it could keep climbing, Mr. Wakabayashi points out: “Google search is the on-ramp to much of the internet.”

Revolving door

Chris Young is stepping down as the chief of the cybersecurity company McAfee to become a senior adviser to TPG, the investment firm. He will be replaced by Peter Leav of BMC Software.George Cheeks, the vice chairman of NBCUniversal Content Studios, reportedly resigned to take a senior role at CBS.James Debney stepped down as the C.E.O. of the parent company of the gun maker Smith & Wesson after the board discovered what it said was nonfinancial misconduct.

The speed read

Deals• The Gap called off plans to spin off its most successful division, Old Navy, and investors cheered. (CNN)• Ant Financial, the corporate sibling of the Alibaba Group of China, is reportedly working with banks to revive its I.P.O. plans. (FT)• M.&A. advisory fees for five of Wall Street’s top banks dropped 5 percent last year, or $558 million. (FT)Politics and policy• President Trump said he would formally nominate Judy Shelton, a longtime critic of the Fed, to the central bank’s board of governors. (NYT)• How the U.S.-China trade deal could change the way international disputes are settled. (WSJ)• The Senate approved the revised North American trade deal known as U.S.M.C.A. by a vote of 89 to 10. (WSJ)• Several Democratic lawmakers said that JPMorgan Chase had not provided enough detail about its efforts to improve diversity and to address complaints about discrimination. (NYT)Tech• Facebook has reportedly called off plans to sell ads in WhatsApp, at least for now. (WSJ)• Fiat Chrysler is teaming up with Foxconn to develop electric vehicles. (TechCrunch)• Pinterest has surpassed Snapchat as the third-most popular social network in the U.S., a new study found. (Search Engine Journal)• Do you really need a smart toilet? (WSJ)Best of the rest• Employees at Barneys are angry that the fashion retailer, now in liquidation, fell short of $4 million in severance payout obligations. (NYT)• The German authorities raided the homes and offices of three people suspected of spying for China. (NYT)• Brace yourself: Here comes Build-a-Bear’s Baby Yoda. (Business Insider)Thanks for reading! We’ll see you next week.We’d love your feedback. Please email thoughts and suggestions to business@nytimes.com. Read the full article

[adalidda]

Illustration Photo: Solar-powered micro brewery at the Hawkers micro brewery in Reservoir, Australia (credits: John Englart / Flickr Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0))

The Keeling Curve Prize - Funding for Financing solutions for Lower or Zero emissions businesses

For North America, South America, Asia, Africa, Europe, Middle East, Oceania, Worldwide

The Keeling Curve is looking for projects with a proven track record of taking greenhouse gases out of the atmosphere. We’ve developed five categories, each one addressing a specific sector of climate innovation.

We award $25,000 to two projects in each category annually.

Category: Finance

Projects that apply in this category are making the economics and/or financial mechanisms work for heat-trapping gas reduction and/or reversal ventures. Tactics could include: financing for lower or zero emissions businesses, creating and deploying financial mechanisms that consider ecological and human sustainability, financial empowerment for climate solution programs, divestment and investment strategies, eliminating financial barriers, carbon accounting and policy - just to name a few. These projects are designed to counterbalance or replace financial strategies that fail to account for longer term planetary viability in respect to global warming. These include widespread participation by marginalized communities, and economic valuation of thriving ecosystems where positive impact has been independently verified.

Keywords: green bonds, impact bonds, climate bonds, green loans, impact loans, climate insurance, impact investing, green investing, social impact investments, climate justice, novel investment fund, sustainability rating, credit swaps, investment partnerships, climate venture capitalism, social cost of carbon, divestment, shareholder activism

Application Deadline: 11:59 PM GMT, February 10, 2022

Check more https://adalidda.com/posts/EKFrzL7Pe5zzGjxnb/the-keeling-curve-prize-funding-for-financing-solutions-for

[i-am-very-very-tired]

The Duke and Duchess of Sussex have good business instincts. We haven’t heard anything about Meghan’s investment in Clevr Blends in a while, but I’m sure that it’s probably doing very well, especially with Oprah’s endorsement. They’re working with Procter & Gamble on charity endeavors. Harry’s work with BetterUp has been brilliant, and the company’s valuation has more than doubled in less than nine months. So what’s new in SussexWorld? What is their next big project? Ethical investing.

Prince Harry and Meghan, the Duchess of Sussex, are getting into the investment business. They are joining Ethic, a fintech asset manager in the fast-growing environmental, social and governance space, as “impact partners” and investors. Ethic has $1.3 billion under management and creates separately managed accounts to invest in social responsibility themes.

The couple could attract more attention to sustainable investing. Harry and Meghan can make E.S.G. investing part of pop culture in a way that, say, BlackRock’s Larry Fink can’t. “From the world I come from, you don’t talk about investing, right?” Meghan told DealBook in a joint interview with Harry. “You don’t have the luxury to invest. That sounds so fancy.”

“My husband has been saying for years, ‘Gosh, don’t you wish there was a place where if your values were aligned like this, you could put your money to that same sort of thing?’” Meghan said. They were introduced to Ethic by friends, she said.

Harry and Meghan said they hoped that their involvement would help democratize investing, making people — especially younger people — more deliberate in their choices and conscious of investing in sustainable companies. “You already have the younger generation voting with their dollars and their pounds, you know, all over the world when it comes to brands they select and choose from,” Harry said, suggesting it was a natural extension to do the same with investments.

Ethic was founded in 2015 and has tripled assets under management in the past year, Doug Scott, a founder of the company, told DealBook. Ethic runs screens on companies and sectors based on social responsibility criteria, including racial justice, climate and labor issues. Its user interface has more in common with the likes of Robinhood than traditional financial sites, and it has developed a new platform, “Sustainability for Everyone,” which scores a person’s portfolio along different dimensions.

[From The NY Times]

Hey, Billions-watchers: Ethic sounds like Taylor Mason’s work, right? On Billions, Taylor Mason has always been all about “ethical investing,” with a specific focus on investment towards environmental achievements. I mean, the Billions writers understand what’s happening in the real world, and that people with millions of dollars want more ethical, sustainable and moral choices for how and where they invest. As in, no investing in gun companies, no investments in serial polluters, no investing in companies which destabilize democracies around the world. It’s interesting.

As for Meghan and Harry… they’re basically putting their money into an ethics-driven hedge fund and they’re taking the title of “impact partners,” meaning that they’re going to use their names to bring in even more money and investors. Good for them! But Isla de Saltines will have a week-long meltdown about it.