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Inspired by Tether’s success, the world’s banking giants are showing interest in stablecoins. As Bloomberg News reported Saturday (Dec. 28), some banks are already there, with Societe Generale – Forge (SG-Forge) opening its euro-backed stablecoin to retail investors earlier this year. Revolut is reportedly considering its own version , as is AllUnity, a venture involving the Deutsche Bank-owned DWS. Meanwhile, the report added, American banks are expected to follow suit once Congress enacts stablecoin legislation. A similar thing happened in Europe: the adoption of the Markets in Crypto Assets (MiCA) regulation and Tether’s decision to discontinue its EURt stablecoin has opened the door for competitors. “Do I think that other banks will be issuing their own stablecoins?” Jean-Marc Stenger , CEO of SG-Forge, said in an interview with Bloomberg. “The answer is yes. It’s heavy lifting, I am not sure it will happen any time soon, but it will happen.” He added that his firm is already in discussions with other banks that want to use its stablecoins, and is also exploring partnerships or white-labeling its techs to allow banks to issue their own coins. Visa, meanwhile, launched a tokenization network in October for banks to issue stablecoins , is collaborating with BBVA on a pilot in next year, and is in talks with many other banks. “We’ve seen demand from banks in Hong Kong, Singapore and Brazil,” Cuy Sheffield , Visa’s head of crypto, told Bloomberg. “We are actively engaged with a number of banks across the world at various stages of the process.” As PYMNTS wrote in October, the scale of Visa’s network and its relationship with financial institutions around the world allow it to add stability and legitimacy to stablecoins. “By enabling banks to issue their own stablecoins and integrate tokenized deposits into their systems, Visa could foster widespread adoption, reducing the risk of market panic that often leads to de-pegging events,” that report said. “Moreover, as banks enter the fray with their regulatory frameworks in place, the perception of stablecoins as a credible asset class could improve.” Writing about the issue last week, PYMNTS argued that stablecoins’ rise has become impossible to dismiss, as the currency continues its ascent as the foundation of cross-border and enterprise crypto payments and a bridge to traditional finance. “Cross-border payments, historically plagued by high fees and slow transaction times, underwent a significant transformation in 2024,” that report said. “Blockchain technology emerged as a key enabler, offering transparency, speed and cost efficiency. Stablecoins played a crucial role, allowing businesses to bypass traditional correspondent banking networks and settle transactions almost instantaneously.”
FARGO — When Jimmy Carter emerged on the national stage during his 1976 presidential campaign, he captured the curiosity of many in North Dakota and Minnesota with his humble roots as a peanut farmer from Plains, Georgia. Carter, who passed away Sunday at 100, holds the distinction of living longer than any other president after leaving office — a remarkable 44 years. Renowned for extensive humanitarian efforts following his presidency, Carter was often regarded as a more impactful former president than commander-in-chief. Over the last 44 years, we've learned a lot about Carter as a politician, president and social reformer. However, in the late 1970s, people here knew little about him. Still, when reporters asked for their thoughts, they had plenty to say. WDAY-TV News often conducted what reporters called "Man on the Street" interviews. Longtime WDAY-TV anchorman Marv Bossart did a series of interviews in 1976 and 1977 as Jimmy Carter ran for and eventually won the White House. Bossart chatted with regular people about various issues, asking questions such as "What would you ask the new president?" and "What do you think of the president's controversial brother, Billy Carter?" Fortunately, all those years ago, WDAY shared these films with the State Historical Society of North Dakota. Thanks to the hard work of archivist Greta Beck, you can now see them in their entirety. The clips are fascinating for several reasons. First, it's interesting to note how civil the discourse was. The people who disagreed with Carter didn't seem angry or hostile when expressing their opinions. There appeared to be a level of respect and an "agree to disagree" mindset that we don't often see today. For those not interested in 1970s-era politics, it's also enlightening to see what everyone wore and what West Acres looked like back then. In the background, you can often see old restaurants and stores that no longer exist. Here are the clips in chronological order.Pinstripe Bowl offers BC an opportunity to send seniors off with a win, build for the futureSHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Celsius Holdings, Inc. of Class Action Lawsuit and Upcoming Deadlines - CELH
For the past 14 years, Alex Vynokur, the co-founder of Betashares, has quietly built his company into one of the largest local providers of exchange-traded funds and one of the country’s fastest growing asset managers. In 2024, Betashares attracted inflows of $16 billion, lifting its total funds under management to $46 billion. “The focus for the past decade has very much been about building out the core ETF capability,” explains Vynokur. “We are now a steward of significant capital on behalf of more than 1 million Australian investors and over two-thirds of financial advisors.” Betashares now accounts for one-third of every dollar that goes into the Australian ETF industry, according to Vynokur, and is eyeing growth in Asia. Alex Vynokur, the chief executive of Betashares. Credit: Louie Douvis An ETF is a basket of securities that are pooled into one fund, which is traded on a stock exchange. An investor in an ETF doesn’t own the securities, instead owning units in the ETF, while the ETF provider owns the shares or assets. ETFs have grown in popularity with investors because they are cost-effective and offer exposure to thousands of diversified assets, such as a group of defence stocks, or the ASX200 index, or a variety of bonds. Globally, ETFs have had a banner year with more than $1 trillion invested into the sector, which is now worth an estimated $14 trillion. Vynokur and his family arrived in Australia from Ukraine more than three decades ago, at the time when ETFs launched. He was a teenager, and his family came with just a few hundred dollars in their pockets. Vynokur became a lawyer, then moved into venture capital, before co-founding Betashares with David Nathanson, also a former lawyer and investment banker, who had worked at Goldman Sachs and Macquarie. We’re definitely, very cautiously, studying opportunities outside of Australia. As with any start-up, Vynokur and Nathanson put in enormous hours to build the company to where it is today, as Australia’s second-largest ETF provider behind market leader Vanguard. Both are now multi-millionaires, though there has been a physical cost, says 46-year-old Vynokur: “I didn’t have any grey hair 14 years ago.” The pay-off for both as come in the past few years. In 2021, private equity group TA Associates became Betashares’ majority shareholder, with at least 53.5 per cent ownership. In the middle of this year, Singapore’s Temasek, one of the world’s largest sovereign wealth funds, bought a minority stake. Temasek paid $300 million for that shareholding, the size of which was undisclosed. The deal ascribed a multi-billion-dollar valuation to Betashares. It was Temasek’s first investment in a financial services business in Australia. In a global portfolio valued at $S389 billion ($459 billion), Temasek has just over half invested in private assets. “They have invested with the objective of maybe having more ownership,” says Vynokur. “We’re building this business for the long term, and they are genuinely interested in long-term value creation. We’ve never been about building something up quickly and flogging it. It doesn’t mean I’m opposed to being listed one day, but we’re definitely not in a hurry to go down that path.” The proceeds are expected to help fund Betashares’ growth into new products. In the past year, the company launched retail investment platform Betashares Direct and bought a superannuation business from Bendigo and Adelaide Bank. Vynokur also believes that Betashares has more room to expand its main ETF business. “According to the ASX data, there are 8 million Australians who invest outside their superannuation,” he says. “Also, if you think about younger Australians, who are locked out of the property ownership game, you know being smart with money outside of property is absolutely crucial. We have a real role to play in that.” There is also the opportunity for Betashares to expand its ETF business into Asia but, as for a priority, Vynokur won’t nominate a country. “We’re definitely, very cautiously, studying opportunities outside of Australia ... and that’s going to form part of our longer-term growth.” The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning .
Aaron Judge won't be bothered if Juan Soto gets bigger contract from Yankees than his $360M dealPHILADELPHIA and NEW YORK , Dec. 27, 2024 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK) today announced that it has completed its previously announced offering of an additional $100 million in aggregate principal amount of its 6.125% notes due 2030 (the "Notes"). The Notes will be a further issuance of, and form a single series with, the $600 million aggregate principal amount of 6.125% Notes due 2030 that FSK issued on November 20, 2024 , increasing the outstanding aggregate principal amount of the series to $700 million . BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, KKR Capital Markets LLC, SMBC Nikko Securities America, Inc., and Truist Securities, Inc. are acting as joint book-running managers for this offering. FSK intends to use the net proceeds of this offering for general corporate purposes, including potentially repaying outstanding indebtedness under credit facilities and certain notes. This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. About FS KKR Capital Corp. FSK is a leading publicly traded business development company (BDC) focused on providing customized credit solutions to private middle market U.S. companies. FSK seeks to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market companies. FSK is advised by FS/KKR Advisor, LLC. About FS/KKR Advisor, LLC FS/KKR Advisor, LLC (FS/KKR) is a partnership between FS Investments and KKR Credit that serves as the investment adviser to FSK and other business development companies. FS Investments is a global alternative asset manager dedicated to delivering superior performance and innovative investment and capital solutions. The firm manages over $83 billion in assets for a wide range of clients, including institutional investors, financial professionals and individual investors. FS Investments provides access to a broad suite of alternative asset classes and strategies through its best-in-class investment teams and partners. With its diversified platform and flexible capital solutions, the firm is a valued partner to general partners, asset owners and portfolio companies. FS Investments is grounded in its high-performance culture and guided by its commitment to building value for its clients, investing in its colleagues and giving back to its communities. The firm has more than 500 employees across offices in the U.S., Europe and Asia and is headquartered in Philadelphia . KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. Forward-Looking Statements and Important Disclosure Notice This announcement may contain certain forward-looking statements, including statements with regard to future events or future performance or operations of FSK. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, risks associated with possible disruption in FSK's operations or the economy generally due to terrorism, geo-political risks, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in FSK's operating area and the price at which shares of FSK's common stock trade on the New York Stock Exchange. Some of these factors are enumerated in the filings FSK makes with the SEC. FSK undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contact Information: Investor Relations Contact Anna Kleinhenn Anna.Kleinhenn@fsinvestments.com FS Investments Media Team Melanie Hemmert Melanie.Hemmert@fsinvestments.com View original content to download multimedia: https://www.prnewswire.com/news-releases/fsk-completes-public-offering-of-100-million-6-125-unsecured-notes-due-2030--302339667.html SOURCE FS InvestmentsEnzo Maresca savoured chants of ‘we’ve got our Chelsea back’ from travelling fans following a 5-1 Premier League thrashing of 10-man Southampton at St Mary’s. Blues supporters also sang the name of head coach Maresca during the closing stages of an emphatic success sealed by goals from Axel Disasi, Christopher Nkunku, Noni Madueke, Cole Palmer and substitute Jadon Sancho. Bottom club Southampton briefly levelled through Joe Aribo but were a man down from the 39th minute after captain Jack Stephens was sent off for pulling the hair of Marc Cucurella. Chelsea, who have endured an underwhelming period since Todd Boehly’s consortium bought the club in 2022, climbed above Arsenal and into second place on goal difference, seven points behind leaders Liverpool. “It was a very good feeling, especially because you can see that they are happy, that is our target,” Maresca said of the atmosphere in the away end. “We work every day to keep them happy and tonight was a very good feeling, especially the one that they can see that Chelsea’s back. This is an important thing.” Maresca rotated his squad in Hampshire, making seven changes following Sunday’s impressive 3-0 win over Aston Villa. Following a sloppy start, his side, who stretched their unbeaten run to six top-flight games, could easily have won by more as they hit the woodwork three times, in addition to squandering a host of chances. “I’m very happy with the five we scored,” said the Italian. “I’m not happy with the first 15, 20 minutes, where we struggled. The reason why we struggled is because we prepared the game to press them man to man and the first 15, 20 minutes we were not pressing them man to man. “After 15, 20 minutes we adjust that and the game was much better. For sure we could score more but five goals they are enough.” Southampton manager Russell Martin rued a costly “moment of madness” from skipper Stephens. The defender’s ridiculous red card was the headline mistake of a catalogue of errors from the beleaguered south-coast club as they slipped seven points from safety following an 11th defeat of a dismal season. “I don’t think anyone will be as disappointed as Jack,” Martin said of Stephens, who was sent off for the second time this term after tugging the curls of Cucurella as Saints prepared to take a corner. “I haven’t got to sit down and talk with him about that at all. He will be hurt more than anyone and it’s changed the game for us tonight, which is disappointing. “I think they have to describe it as violent conduct; it’s not violent really but there’s no other explanation for that really. It’s a moment of madness that’s really cost us and Jack.” Southampton repeatedly invited pressure with their risky attempts to play out from defence, with goalkeeper Joe Lumley gifting Chelsea their second goal, scored by Nkunku. While Saints were booed off at full-time, Martin, who was missing a host of key players due to injuries and suspensions, praised the effort of his depleted team. “When they see such a big scoreline and a couple of the goals we concede, I understand it (the jeers),” he said. “It’s football, it’s emotive, people feel so much about it, it’s why it’s such a special sport in this country and so big. “I understand it but I feel really proud of the players tonight, some of the football we played at 11 v 11 was amazing. “For an hour with 10 men we’ve dug in so deep, there were some big performances. I’m proud of them for that and I’m grateful for that because that’s not easy in that circumstance.”
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ATLANTA (AP) — Jimmy Carter, the peanut farmer who tried to restore virtue to the White House after the Watergate scandal and Vietnam War, then rebounded from a landslide defeat to become a global advocate of human rights and democracy, has died. He was 100 years old . The Carter Center said the 39th president died Sunday afternoon, more than a year after entering hospice care , at his home in Plains, Georgia, where he and his wife, Rosalynn, who died in November 2023, lived most of their lives. The center said he died peacefully, surrounded by his family. As reaction poured in from around the world, President Joe Biden mourned Carter’s death, saying the world lost an “extraordinary leader, statesman and humanitarian” and he lost a dear friend. Biden cited Carter’s compassion and moral clarity, his work to eradicate disease, forge peace, advance civil and human rights, promote free and fair elections, house the homeless and advocacy for the disadvantaged as an example for others. “To all of the young people in this nation and for anyone in search of what it means to live a life of purpose and meaning – the good life – study Jimmy Carter, a man of principle, faith, and humility,” Biden said in a statement. “He showed that we are a great nation because we are a good people – decent and honorable, courageous and compassionate, humble and strong.” Biden said he is ordering a state funeral for Carter in Washington. A moderate Democrat, Carter ran for president in 1976 as a little-known Georgia governor with a broad grin, effusive Baptist faith and technocratic plans for efficient government. His promise to never deceive the American people resonated after Richard Nixon’s disgrace and U.S. defeat in southeast Asia. “If I ever lie to you, if I ever make a misleading statement, don’t vote for me. I would not deserve to be your president,” Carter said. Carter’s victory over Republican Gerald Ford, whose fortunes fell after pardoning Nixon, came amid Cold War pressures, turbulent oil markets and social upheaval over race, women’s rights and America’s role in the world. His achievements included brokering Mideast peace by keeping Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin at Camp David for 13 days in 1978. But his coalition splintered under double-digit inflation and the 444-day hostage crisis in Iran. His negotiations ultimately brought all the hostages home alive, but in a final insult, Iran didn’t release them until the inauguration of Ronald Reagan, who had trounced him in the 1980 election. Humbled and back home in Georgia, Carter said his faith demanded that he keep doing whatever he could, for as long as he could, to try to make a difference. He and Rosalynn co-founded The Carter Center in 1982 and spent the next 40 years traveling the world as peacemakers, human rights advocates and champions of democracy and public health. Awarded the Nobel Peace Prize in 2002, Carter helped ease nuclear tensions in North and South Korea, avert a U.S. invasion of Haiti and negotiate cease-fires in Bosnia and Sudan. By 2022, the center had monitored at least 113 elections around the world. Carter was determined to eradicate guinea worm infections as one of many health initiatives. Swinging hammers into their 90s, the Carters built homes with Habitat for Humanity. The common observation that he was better as an ex-president rankled Carter. His allies were pleased that he lived long enough to see biographers and historians revisit his presidency and declare it more impactful than many understood at the time. Propelled in 1976 by voters in Iowa and then across the South, Carter ran a no-frills campaign. Americans were captivated by the earnest engineer, and while an election-year Playboy interview drew snickers when he said he “had looked on many women with lust. I’ve committed adultery in my heart many times,” voters tired of political cynicism found it endearing. The first family set an informal tone in the White House, carrying their own luggage, trying to silence the Marine Band’s traditional “Hail to the Chief" and enrolling daughter, Amy, in public schools. Carter was lampooned for wearing a cardigan and urging Americans to turn down their thermostats. But Carter set the stage for an economic revival and sharply reduced America's dependence on foreign oil by deregulating the energy industry along with airlines, trains and trucking. He established the departments of Energy and Education, appointed record numbers of women and nonwhites to federal posts, preserved millions of acres of Alaskan wilderness and pardoned most Vietnam draft evaders. Emphasizing human rights , he ended most support for military dictators and took on bribery by multinational corporations by signing the Foreign Corrupt Practices Act. He persuaded the Senate to ratify the Panama Canal treaties and normalized relations with China, an outgrowth of Nixon’s outreach to Beijing. But crippling turns in foreign affairs took their toll. When OPEC hiked crude prices, making drivers line up for gasoline as inflation spiked to 11%, Carter tried to encourage Americans to overcome “a crisis of confidence.” Many voters lost confidence in Carter instead after the infamous address that media dubbed his “malaise" speech, even though he never used that word. After Carter reluctantly agreed to admit the exiled Shah of Iran to the U.S. for medical treatment, the American Embassy in Tehran was overrun in 1979. Negotiations to quickly free the hostages broke down, and then eight Americans died when a top-secret military rescue attempt failed. Carter also had to reverse course on the SALT II nuclear arms treaty after the Soviets invaded Afghanistan in 1979. Though historians would later credit Carter's diplomatic efforts for hastening the end of the Cold war, Republicans labeled his soft power weak. Reagan’s “make America great again” appeals resonated, and he beat Carter in all but six states. Born Oct. 1, 1924, James Earl Carter Jr. married fellow Plains native Rosalynn Smith in 1946, the year he graduated from the Naval Academy. He brought his young family back to Plains after his father died, abandoning his Navy career, and they soon turned their ambitions to politics . Carter reached the state Senate in 1962. After rural white and Black voters elected him governor in 1970, he drew national attention by declaring that “the time for racial discrimination is over.” Carter published more than 30 books and remained influential as his center turned its democracy advocacy onto U.S. politics, monitoring an audit of Georgia’s 2020 presidential election results. After a 2015 cancer diagnosis, Carter said he felt “perfectly at ease with whatever comes.” “I’ve had a wonderful life,” he said. “I’ve had thousands of friends, I’ve had an exciting, adventurous and gratifying existence.” Sanz is a former Associated Press reporter.Jimmy Carter had the longest post-presidency of anyone to hold the office, and one of the most active. Here is a look back at his life. 1924 — Jimmy Carter was born on Oct. 1 to Earl and Lillian Carter in the small town of Plains, Georgia. 1928 — Earl Carter bought a 350-acre farm 3 miles from Plains in the tiny community of Archery. The Carter family lived in a house on the farm without running water or electricity. 1941 — He graduated from Plains High School and enrolled at Georgia Southwestern College in Americus. 1942 — He transferred to Georgia Institute of Technology in Atlanta. 1943 — Carter’s boyhood dream of being in the Navy becomes a reality as he is appointed to the U.S. Naval Academy in Annapolis, Maryland. 1946 — He received his naval commission and on July 7 married Rosalynn Smith of Plains. They moved to Norfolk, Virginia. 1946-1952 — Carter’s three sons are born, Jack in 1947, Chip in 1950 and Jeff in 1952. 1962-66 — Carter is elected to the Georgia State Senate and serves two terms. 1953 — Carter’s father died and he cut his naval career short to save the family farm. Due to a limited income, Jimmy, Rosalynn and their three sons moved into Public Housing Apartment 9A in Plains. 1966 — He ran for governor, but lost. 1967 — Jimmy and Rosalynn Carter’s fourth child, Amy, is born. 1971 — He ran for governor again and won the election, becoming Georgia’s 76th governor on Jan. 12. 1974 — Carter announced his candidacy for president. 1976 — Carter was elected 39th president on Nov. 2, narrowly defeating incumbent Gerald Ford. 1978 — U.S. and the Peoples’ Republic of China establish full diplomatic relations. President Carter negotiates and mediates an accord between Egypt and Israel at Camp David. 1979 — The Department of Education is formed. Iranian radicals overrun the U.S. Embassy and seize American hostages. The Strategic Arms Limitations Treaty is signed. 1980 — On March 21, Carter announces that the U.S. will boycott the Olympic Games scheduled in Moscow. A rescue attempt to get American hostages out of Iran is unsuccessful. Carter was defeated in his bid for a second term as president by Ronald Reagan in November. 1981 — President Carter continues to negotiate the release of the American hostages in Iran. Minutes before his term as president is over, the hostages are released. 1982 — Carter became a distinguished professor at Emory University in Atlanta, and founded The Carter Center. The nonpartisan and nonprofit center addresses national and international issues of public policy. 1984 — Jimmy and Rosalynn Carter volunteer one week a year for Habitat for Humanity, a nonprofit organization that helps needy people in the United States and in other countries renovate and build homes, until 2020. He also taught Sunday school in the Maranatha Baptist Church of Plains from the mid-’80s until 2020. 2002 — Awarded the Nobel Peace Prize. 2015 — Carter announced in August he had been diagnosed with melanoma that spread to his brain. 2016 — He said in March that he no longer needed cancer treatment. 2024 — Carter dies at 100 years old. Sources: Cartercenter.org, Plains Historical Preservation Trust, The Associated Press; The Brookings Institution; U.S. Navy; WhiteHouse.gov, GallupYou Can Already See Signs Of Trump's Crony Capitalism In Action
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ENPH INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Enphase Energy, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action LawsuitSALISBURY – In a nearly five-hour session of the latest Planning and Zoning Commission hearing on the application for redevelopment of the Wake Robin Inn, experts representing the interveners took center stage. The next and final session is set for Tuesday at 5:30 p.m. The PZC will have 65 days after the hearing closes to render a decision. Aradev, the developer, is proposing to expand the site, adding rooms to the inn, putting up guest cottages, installing a pool and spa, and building an event barn. Plans also call for extending the property accessed off Route 41 to go through to Wells Hill Road. The application for a special exception has raised concerns among neighbors and townspeople, leading to a request from Angela and William Cruger for intervener status during the hearing. William Cruger said he and his wife are abutters to the site on Wells Hill Road. He noted there are two levels of concern: one for the neighbors, whose enjoyment of their property, as well as values, would be reduced. He said there also would be negative implications for the community. “They’re not just saying they don’t like it, which they don’t,” Cruger said. “But there are reasons for denying the application. It’s not political; it’s not about popularity; it’s the law.” Cruger then called upon a battery of experts to give testimony. First to speak was planner Brian Miller, who said he doesn’t accept NIMBY projects, but after reviewing the application, he found many negative aspects. He said the plan is about placing a large commercial use into a residential area. He described the event barn, with a capacity of up to 200 people, as more like a catering hall. “Large parties tend to be noisy or raucous at times,” Miller said, calling letting events go on until midnight in a residential area “unbelievable.” Roger Rawlings, a local financial analyst, said increased traffic on a particular road has a negative effect on property values. “The commission is obligated to look at that data,” he said, concluding the values on Wells Hill Road would be adversely affected. Ecologist George Logan focused on storm-water management and how water discharge from the project could affect Lake Wonoscopomuc, while acoustical engineer Bennett Brooks spoke of the noise impact from the development. He said there are three factors of obtrusive noise: buildings and their systems, behavior and traffic. “This development has the strong potential to be highly intrusive and not compatible with the neighborhood,” Brooks said. “The application is incomplete or flawed. It needs more details or calculations.” Lastly, engineer Dainius Virbickas questioned several aspects of the project, including the actual number of parking spaces, handicapped accessibility into the hotel, slopes and lack of soil tests for the parking areas. Attorney Perley H. Grimes Jr., representing the Crugers, said the burden of proof of whether the regulations are met and the site plan is complete is on the applicant, not the neighbors. “I think my clients met the terms that the application doesn’t meet the regulations,” he said. “... If the commission adheres to the regulations and Connecticut case law, it is compelled to deny the application.” Grimes said the PZC must take into account the petition signed by more than 250 residents and the 60 letters expressing opposition to the plan, with only 10 in support. “This could permanently change the area and be detrimental to the community,” he added. In questioning the experts, attorney Josh Mackey, representing Aradev, asked if Logan had ever been on the property before writing his report. Logan acknowledged he had not. PZC Chairman Michael Klemens took the applicants by surprise when, at the end of the session, he asked whether the project could go forward without the event barn and the extension of the property to Wells Hill Road. Mackey said they would have to give that question consideration and come back with an answer Tuesday. Contact Ruth Epstein at kcsruthe @ aol.com.We’ve got our Chelsea back – Enzo Maresca loving chants from fans after winManmohan Singh’s special bond with Visakhapatnam
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