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The wreckage of a Mozambique Airlines plane that disappeared over Namibia has been found, but none of the 33 people aboard survived the crash, police say.

The burned-out aircraft was found in the Bwabwata National Park, near the borders with Angola and Botswana.
"The plane has been completely burnt to ashes and there are no survivors," Namibia Police Force deputy commissioner Willy Bampton was quoted by Reuters as saying.

In Maputo, Mozambican Airlines, LAM, had issued a statement revising the passenger list down to 27, rather than the 28 earlier reported, along with the six crew members.

The statement said the 33 included 10 were Mozambicans, nine Angolans, five Portuguese, one French national, one Brazilian and one Chinese.

LAM flight TM470 took off from Maputo at 09H26 GMT Friday and had been due to land in the capital Luanda at 13H10 GMT, but never arrived.

Last contact with the place came around 1130 GMT when it was over north Namibia.
The authorities say most of those on board were Mozambican or Angolan, and several more were Portuguese. The aircraft also carried one citizen from each of Brazil, China and France.

Initially, the airline said there were signs the aircraft might have landed near Rundu. But on Saturday, Mr Bampton said villagers in the area had heard an explosion.

"Botswana officials informed us that they saw smoke in the air and they thought the crash happened in their country, but when they came to the border they realised that it was in Namibia," Willie Bampton said.

Before confirmation of the crash, people close to those on board gathered at Maputo airport, many frustrated at what they said was the lack of information.

"They told us it was a forced landing. I know it's a crash," said Luis Paolo, a friend of one of what were said to be two Portuguese businessmen on board the flight.

The Bwabwata National Park, a 6,100-square-kilometre (2,355 square mile) reserve, is a sparsely-populated area covered by wetlands and dense forests.

The European Union banned the Mozambican airline, known by the acronym LAM, from flying in its airspace in 2011.

"Significant safety deficiencies" led to the blacklisting of all air carriers certified in Mozambique, the EU said at the time.

The concern was about Mozambique's civil aviation authority, rather than the track record of the various airlines.

Sources: BBC News,AFP

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Travel Blog SUV Self-Drive Car for Your Offbeat Road Trips in India

SUV Self-Drive Car for Your Offbeat Road Trips in India

Posted by Avis on April 27, 2020 | people viewed

Travel is all about discoveries. You won’t find them in the tourist’s maps, but when you take a deep dive in these offbeat locations, you find the difference. You escape the city crowd, explore raw natural beauty & cultures, and get to learn many new things.

You may be one of those travelers who always looks for the roads less taken. But you will be surprised to know that there are some offbeat road trips in India that never appeared on your vacation list.

Most of the time, these destinations get overlooked in the throng of famous destinations. However, these offbeat road trips in India aren’t short in thrill & excitement. These give you a pleasant and incredible experience as they are usually away from the hustle of over-tourism. Vacations in these fewer known locations are truly memorable if only taken carefully.

Most of the offbeat trips will take you through small cities and unfamiliar paths. So, you need a ride that can handle everything that’s thrown in its way. Be it with the family or your valentine, offbeat road trips in India demand an SUV for a smooth journey.

If an SUV car is the first thing you need to plan a self-drive on these offbeat roads then we have you covered. You can hire a Self Drive Scorpio, XUV 500, or Innova car rental from AVIS. With transportation sorted, it’s time to check out some of the best offbeat road trips in India.

Top five destinations for Offbeat road trips in India

1. Khajjiar (Himachal Pradesh)

Khajjiar (Himachal Pradesh

This mini Switzerland of India is an unexplored beauty away from the touristy towns of Himachal Pradesh. This place is blessed with natural beauty and is covered with hills, lakes, and meadows. You don’t need to plan your Itinerary; the beauty of this place can keep you enthralled for long hours ensuring you have a blissful vacation, especially the snowy winters. Besides, adventurous sports like paragliding, horse-riding, and zorbing are available to keep you busy.

2. Tadoba (Maharashtra)

This wildlife destination in the Indian state of Maharashtra is known as the Jewel of Vidarbha. The Tadoba town is famous for its Tadoba National Park, Tadoba Tiger Reserve, Tadoba Lake, Moharli, and Khosla village. It is the largest and one of the best Tiger Reserves of Maharashtra. This place is heaven for wildlife lovers and you can easily go for safaris in your Innova car rental within the jungle.

3. DevPrayag (Uttarakhand)

 If you are looking for a pilgrimage trip, this destination is perfect for your next offbeat road trips in India. Devprayag is a place of Holy Union of two sacred rivers, Bhagirathi and Alaknanda. You can also plan visits to surrounding holy places on the same trip. Moreover, you can also suffice your adventurous desires by indulging in activities like river rafting, trekking, Kayaking, Rock climbing, and so on.

4. Hemis (Jammu & Kashmir)

 Jammu & Kashmir is undoubtedly one of the most visited tourist destinations in the country. But very few know that a place called Hemis exists here. Hemis is a beautiful place in Ladakh surrounded by snow-capped mountains.

The famous Monastery, Hemis Gompa is worth visiting. This place also has something for wildlife lovers – the Hemis National park which is home to the Snow Leopards. If you can capture them, you won’t ask for anything else on this trip.

5. Majuli (Assam)

 A beautiful island located on the banks of Brahmaputra river is the largest river island in the world. The island covers an area of 420 square kilometers. You can enjoy your self-drive in Innova car rental till Jorhat, after which you have to park your vehicle and take a ferry to access the Majuli island. This is one of the best offbeat road trips you can take in India. The local festivals and cuisine here will leave you awestruck and keep you coming back for more.

Were these destinations ever on your checklist? Don’t wait anymore, get connected with AVIS car rental services, book an SUV car, and plan your next vacation soon. These offbeat road trips in India are something every traveler should experience at least once a lifetime. Don’t forget to share your experience in the comment section. Happy Exploring!

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Insecta-Pro - Insectivorous and Omnivorous Diet (Vetafarm) - AVIZONA

  • Sale
  • Regular price Rs.1,450.00

PRODUCT DESCRIPTION: Complete live food replacement.
Fully extruded dietary additive for omnivorous and insectivorous birds.

RECOMMENDED FOR: Insectivorous and omnivorous birds.

CAN USE WITH: Finch and Budgie Crumbles.
For insectivorous birds mix at a rate 75% Insecta-Pro 25% Finch and Budgie Crumbles. For omnivores mix at a rate of 25% Insecta-Pro 75%
Finch and Budgie Crumbles.

KEY FEATURES: Takes the mess and guesswork out of feeding insect-eating birds. Can be fed dry, mixed with water to create a crumble, mixed with other foods and fruits or dampened and rolled into balls. Supplies crucial proteins found in insects, that grains and vegetables lack. Stimulates breeding pairs of insectivores/omnivores and balances the diet of the young.

Min. Crude Protein 30.0%
Min. Crude Fat 5.0%
Max. Fibre 6.0%
Max. Salt 0.5%


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Let me introduce Bill and myself and why I know life after 50 can be “awesome!” I have to admit I dreaded the thought of turning 50. I remember looking at myself the morning of my 50th and thinking… Huh?  There weren’t 6 more wrinkles, the girls were still perky and I was on a trip to “New York City!!” With a true glimmer of hope I thought, “I feel great for ½ a century” (did I just say that?) Anyway, maybe it was the vibe of the Big Apple or the fact the light was great on me at that hotel bathroom mirror but that day I decided to take a new lease on life and embrace my fabulous fifties!

Now, a decade later I’m feeling great about sharing how incredible life can be especially with my awesome husband in my life (we’ve been together for about 20 years) We are looking forward to 40 more years and beyond. We’ll talk about relationships, inspiration, beauty (both outside and you’re beautiful inner self), fun, health, relaxing,  family, regular dates with your spouse or significant other, entertaining, fashion and red wine (how’d that get in there)

So join us as we share our incredible journey together.
I’m so glad you’re here to share our awesome ride!


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Sep 20, 2019

Walmart to discontinue e-cigarette sales amid regulatory uncertainty

Photo: Justin Sullivan/Getty Images

Walmart announced Friday that it will discontinue e-cigarette sales in its stores after a rash of vaping-related deaths, per CNBC.

Why it matters: The world’s largest retailer cited "growing federal, state and local regulatory complexity and uncertainty" around the product and said that it would stop selling e-cigarettes after selling through its current inventory.

The big picture: Walmart's move comes after vaping has faced a wave of scrutiny across the board — from Congress to the White House to local governments. At least 8 people have died from mysterious vaping-related illnesses.

  • President Trump has proposed banning all flavored e-cigarette items.
  • The industry is even facing issues around the world. India has banned e-cigarettes entirely while Juul's products disappeared from online Chinese marketplaces just a week after they debuted.

The state of play: The retailer also has been more actively taking a stance on societal issues, announcing earlier this month that it would end all sales of short-barrel rifle ammunition that can be used with military-style assault weapons.

  • Walmart CEO Doug McMillon is set to chair the Business Roundtable, a group made up of the nation's top CEOs, at the start of next year.
  • 181 BRT CEOs signed onto a statement last month that driving shareholder value is no longer their sole business objective, instead expanding their mission to include everything from taking care of employees to helping their communities.

Go deeper: CEOs are the new politicians

Go deeper

The wreckage of summer

Illustration: Sarah Grillo/Axios

We usually think of Memorial Day as the start of the summer, with all of the fun and relaxation that goes with it — but this one is just going to remind us of all of the plans that have been ruined by the coronavirus.

Why it matters: If you thought it was stressful to be locked down during the spring, just wait until everyone realizes that all the traditional summer activities we've been looking forward to are largely off-limits this year.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 5,428,605 — Total deaths: 345,375 — Total recoveries — 2,179,408Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,643,499 — Total deaths: 97,722 — Total recoveries: 366,736 — Total tested: 14,163,915Map.
  3. World: White House announces travel restrictions on Brazil Over 100 cases in Germany tied to single day of church services.
  4. Public health: Officials are urging Americans to wear masks over Memorial Day.
  5. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election.
  6. Federal government: Trump attacks a Columbia University study that suggests earlier lockdown could have saved 36,000 American lives.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Updated 5 hours ago - Politics & Policy

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

The CDC is warning of potentially "aggressive rodent behavior" amid a rise in reports of rat activity in several areas, as the animals search further for food while Americans stay home more during the coronavirus pandemic.

By the numbers: More than 97,700 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 366,700 Americans have recovered and more than 14.1 million tests have been conducted.


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Giving back to society with Mission 500

March 12, 2020
From rebuilding hurricane-damaged homes in Puerto Rico to assembling bikes for underserved children, Axis employees in the United States are working on social responsibility projects with charity organization Mission 500.

We believe it’s so important for companies all over the world to act as role models, lead by example and influence the world around them in a positive way. And many across the globe are doing just that, realizing just how influential they can be to encourage and make changes.

Jeff Coco
Jeff Coco, member of the Mission 500 advisory board.

That’s why we’re incredibly proud of the work Mission 500 has accomplished over the years to support children and families across America who are in crisis. This charitable non-profit organization works closely with those in the security industry, such as Axis Communications, to advocate for underprivileged or underserved children in the United States who need assistance.

Axis’ contribution to the organization is spearheaded by Jeff Coco, Director of Technical Services for the Americas, and a member of the Mission 500 advisory board. Jeff has a passion to help others and believes it’s important to lead the way by making a difference, working together and positively impacting those in our communities.

“It’s our responsibility as a company to do more than just make a profit,” Coco says. “It’s also about giving back; it’s about truly inspiring people to come together for great causes.”

There are three causes that are near to Coco’s heart where he worked closely with his Axis counterparts and Mission 500 to give back to communities.

Assembling bikes for children

Helping those in need is the red thread throughout our community service initiatives in the United States. Recently, the North America Business Development team took two hours out of their annual mid-year meeting to assemble bikes for children in foster care at Lydia House in Chicago. The bike parts, including helmets and elbow pads, had been acquired through fundraiser campaigns. The team’s goal was to deliver around 25 new bikes to the children.

Mission 500, assembling bikes for children

“Let me paint a picture for you,” explains Coco. “Think of Lydia House as a large, dark brick building that looks like it was built 100 years ago. It’s not located in the best of neighbourhoods. We drove up with this giant truck, and one by one, we carried the bikes off to a playground area.”

“As we’re carrying these bikes,” Coco continues, “we looked up to the building and started seeing these little faces pop up in the windows. The children had big, wide smiles across their faces. They were so excited to get outside and play. It was an amazing experience that I wish everyone in our team could have shared, too.”

Altogether the initiative only took about two hours, but the kids have a memory that will likely last a lifetime.

Refuge Ranch

To celebrate the end of the year and provide a sneak peek into upcoming activities, the US office invites selected distributors and partners to the well-attended Axis Connect & Converge Conference. During the conference last year, Axis and Mission 500 came together to support Refuge Range by donating school supplies. Refuge Ranch is a rehabilitating home for children that have been pulled out of sex-trafficking.

Mission 500, assembling back packs
Assembling back packs with school supplies which were then donated to the children in Refuge Ranch.

Along with Mexico and the Philippines, the US was ranked one of the world’s worst places for human trafficking in 2018. The Human Trafficking Hotline estimates there are currently hundreds of thousands of victims in the US. When looking at these statistics, it becomes evident how important it is that large corporations and companies shoulder their social responsibility and take action.

Making a difference across the border

A lot of Mission 500’s work is completed in the US, but some projects expand beyond its border. Every year, Axis sponsors employees from the US to travel to a region in need of aid to work hands-on for about a week. Following a thorough selection process, where candidates are asked why they want to go and what the trip would mean to them, several are sent to help.

“We receive many applications each year, and they are truly committed to the cause. Some write three-page emails explaining why it’s important for them to go,” says Coco.

One of those stories comes out of Puerto Rico where Axis employees travelled to help rebuild homes in the aftermath of the devastating Hurricane Maria that ravaged large parts of the country in 2017.

After the hurricane, thousands of residents were left without everyday necessities such as electricity, sources of food and clean water. Once at the site, volunteers formed part of a team of dedicated people – all from the security industry—who worked tirelessly together to help rebuild impacted areas.

“It’s a very hands-on job; you’re carrying debris, you’re ripping down an old roof and putting up a new one. Many of our volunteers have no experience in construction, but they still go to help,” explains Coco.

Social Responsibility Day once a year

Within our own walls, Axis employees work hard to give back to their local communities. One way to enable this is by establishing Social Responsibility Day in the Americas. Each co-worker receives one day off per year to work with a charity or cause of his or her choice. Coco’s goal for 2020 is to ensure every member of his technical service team uses their one day to make a difference.

“We’ll be 50 people in my team next year, so that’s over 400 hours of community service. I think that is pretty cool,” he says.

With a general increasing awareness of the importance of sustainability, it’s important to invest time and effort in local initiatives to make a difference.

It’s our responsibility as a company to do more than just make a profit. It’s about giving something back

“If you have the opportunity to help, do it,” Coco notes. “It’s our responsibility as a company to do more than just make a profit. It’s about giving something back.”

Investing in the future by making a difference today

It’s never been easier to practice social responsibility. Or to make an impact in someone’s life. Or impact an entire community. Or simply put a smile on a kid’s face with something as simple as building them a bike. One person can make a difference by being that difference!

Being a good corporate citizen starts with companies—big and small—realizing they truly have the power and resources to positively change the world around them. Of course, knowing how to start is helpful. If you’re not sure how to begin or what more to do, a quick internet search yields countless ways to help and a variety of organizations that dedicate themselves to different causes.

As we discussed earlier, an organization like Mission 500 for example devotes itself to helping children in need through community-based events. On the other hand, Relay for Life, the signature fundraiser for the American Cancer Society, honours those who survived cancer, remembers those who lost their battle and raises money to fight the disease. This fundraiser takes place in over 5,200 communities in 20 countries. At Axis, we have a number of employees that walk in Relay for Life and collect funds by selling shirts.

The driving force behind making a change is people. We have the ability, whether as an individual or collectively, to be a driving force behind rebuilding, remolding and uniting communities, and helping those in need. Together, we have the ability to take steps to move the needle.

Mission 500

  • Advocates for under-served children and families in the United States.
  • Inspires companies and individuals towards excellence in their community service involvement and corporate sustainability initiatives.
  • Mobilizes resources to be used to help children and families across the United States.

Want to see more examples of our social initiatives?
Sustainability Report
For further information, please contact: Kristina Tullberg, Regional Communications Manager Northern Europe, Axis Communications
Phone: +46 708 90 18 72
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Almost all the ingredients for No. 17 Arizona State volleyball to pull a major upset were in place Friday night.

A large and boisterous crowd of 4,185 at Wells Fargo Arena, the return of starting middle blocker Whitney Follette for the first time since having her appendix removed Sept. 14, defensive specialist Shannan McCready back from a concussion.

None of it flustered No. 3 Washington, which swept ASU 25-19, 25-20, 25-18 to remain undefeated (18-0, 7-0 Pac-12). ASU, which lost 3-1 to No. 1 Stanford five days earlier, falls to 13-6, 3-4.

"With a lot of fans here, you want to do your best," ASU outside hitter Macey Gardner said. "It's hard because tonight just wasn't that night. Washington is a good team. The atmosphere was still great. We tried. There were a ton of people being loud, supporting, cheering and that was great for us to see. It just makes us want to work harder for the Sunday game (11 a.m. vs. Washington State)."

ASU had trouble on serve receive and passing generally, siding out on just 55 percent of its chances compared to Washington's 72 percent. The Huskies, who use two setters in a 6-2 system, hit just .202, way below their season average .329 coming in, but the Sun Devils were at a paltry .103.

"Serve receive is where it's at, and ours was not there so it made it very, very difficult," ASU coach Jason Watson said. "(Setter) Bianca (Arellano) worked as hard as I've seen her work to try to create some things offensively for us, and we weren't able to do anything. It's disappointing. We put some pressure on them and they made some hitting errors, and we just couldn't capitalize on it."

ASU played its best early in the first set, leading 10-6 before Washington rattled off eight of the next nine points. The Sun Devils still were within 18-16 when the Huskies pulled away.

In the second set, Washington led 9-3, a lead ASU trimmed to 10-8 but no further. Watson went small at times in the second set with a rotation that included four players 5-10 or shorter, looking for better passing and defense.

Gardner had 11 kills (.200 hitting) and Follette hit a strong .389 (8 kills) from the middle blocker 2 position. But opposite BreElle Bailey struggled, hitting (minus) .353 with one kill and seven errors on 17 attempts.

Watson stuck with Bailey throughout but said he might need to consider other options (Kwyn Johnson or Andi Lowrance) on the right side. Lowrance played in the middle when Follette was out and also has trained on the left side.

"We're trying to work through that," Watson said. "She (Bailey) knows. She's not immune to that kind of stuff. We need her, and she knows that. She's working hard to get better at some stuff. She's a big part of this. I know she's frustrated. She comes out wanting to be good. Some nights it just doesn't work."

ASU will try to get back to .500 in the Pac-12 against Washington State (9-10, 0-7), which lost 3-1 Friday at No. 16 Arizona.


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Thursday , May 14 2020

Uninstalling Exchange Server 2013

Uninstalling Legacy Exchange 2013 Servers

Post migration to Exchange 2016 or later. Lets see how to remove exchange 2013 Server.

1.Verify No Mailboxes Exist on Exchange 2013 Server

2.Check for Arbitration mailboxes on Exchange Server 2013 and Move them to Exchange 2016 Server.

3. Make sure all the databases are removed.

4.Verify any applications are used for Email relaying with Exchange 2013 Server in Receive Connectors

5.You need to remove the servers from the send connectors (Source Transport Servers).

6.Disabling Third Party Services

7.Make Sure DAG membership is removed

Lets see if its an incomplete installation

An incomplete installation was detected. Run Setup to Complete Exchange Installation

Remove Watermark and Action

Copied below Keys from working server. Ran uninstall

Uninstall Exchange Server Completed

About Satheshwaran Manoharan

Satheshwaran Manoharan is an Microsoft Office Server and Services MVP , Publisher of Specialized in Office365 / Microsoft Exchange / Virtualization , Sathesh is an Messaging Expert supporting/Designing/Deploying many medium size businesses to large enterprises when it comes to Corporate messaging and Virtualization Infrastructure

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• iCandy MiChair Newborn Pod - Russet

iCandy MiChair Newborn Pod - Russet

  • £155.00

  • £129.95

iCandy MiChair Newborn Pod

The iCandy MiChair grows with your child from their first few days.

Suitable from birth, the Pod serves as a rocker with two lockable height positions; one for rest and one for play giving your little one a sleek, contemporary designed comfortable and relaxing environment. With a detachable toy bar, the rocker allows you to attach your child’s favourite toy which encourages interaction between you and baby. The iCandy Pod folds at for easy storage and comes with removable, machine washable liners for added comfort. Suitable from birth until 9kgs.

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Folic Acid and PregnancyFolic acid should be part of the prenatal regime to dramatically reduce the risk of neural tube defects in the developing fetus. Most reproductive experts agree that women of childbearing age, even before they try to conceive, should take extra folate to protect against possible defects in unplanned pregnancy. However, researchers out of the Harvard School of Public Health and the Eunice Kennedy Shriver National Institute of Child Health and Development recently published a report on the importance of folate in overall reproductive health from a cohort study.

More than 250 women between the ages of 18 and 44 participated in the BioCycle Study between 2005 and 2007. This study data was used in the folate cohort.

Conclusion: While natural folate is a good addition to the diet of all women in their reproductive years, it was synthetic folate that showed the greatest promise in promoting successful reproduction. Women who consumed more synthetic folate released more progesterone and experienced fewer anovulatory cycles or cycles where an oocyte was not released.

Source: Gaskins AJ, Mumford SL, Chavarro JE, Zhang C, Pollack AZ, Wactawski-Wende J, Perkins NJ, Schisterman EF. The impact of dietary folate intake on reproductive function in premenopausal women: a prospective cohort study. PLoS One. 2012;7(9):e46276. doi: 10.1371/journal.pone.0046276. Epub 2012 Sep 26.

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Free delivery for online orders over $99 T&C apply
Baby Mini Muffs

Baby Mini Muffs

Brand:Banz Carewear
Product Code: EM-MINI-MUFFS
Availability: In Stock
Ex Tax: $38.70
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Baby Mini muffs by Banz Baby

Protect your baby's ears from loud noise with Banz Mini Muffs - ear defenders for newborn to two-year-olds!
Banz earmuffs are not toys and will ensure your baby's precious hearing is protected from loud noises.

  • Weigh only 140g; are readily accepted by children; easy to carry and store
  • The wide, foam-filled soft cushioned 'shells' ensure a close-yet-comfy fit
  • Headband connecting the earmuffs is covered in soft, durable leather
  • Rated as Class 4, with an NRR of 21dB. The SNR (signal to noise ratio) is 26dB; Banz earmuffs comply with the European Standard for Earmuffs
  • Use for: sporting events; concerts; drag racing; car racing; air shows; on the farm; fireworks displays; water-skiing; boating and water sports; for noise-sensitive children; around power tools; around garden machinery and lawn mowers; around vacuum cleaners
  • Suitable from newborn to age 2

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Customers can’t get enough of the rich and unique flavors of our Texas pecan products. Not only are pecans delicious, but they provide numerous health benefits as well! Bagley Pecans provide a wide variety of corporate gift baskets, tins and gourmet goodness. We know Pecans; we've been in business for over 100 years.

Peppermint Bark

Our peppermint bark is a delectable chocolate confection. Full of dark chocolate, white chocolate and peppermint pieces,

Out of Stock

 If you have any questions, call 1-877-973-2267 or fill out our online form.

SKU: mint-bark Category: Tag:

A very popular confection during the Holiday Season. This pepperment bark is a layer of dark chocolate and creamy white chocolate covered with bits of real peppermint.

Make sure to also check out our other pecan products, such as our chocolate pecans and our pecan candy

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1 lb. Bag $12.95, 1 lb. Tub $15.95, 1 lb. Gift Tin $19.95

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“The Red Hot Report” from the Cherry Marketing Institute highlights the scientific and formulating benefits of tart cherries. Described as naturally functional “super fruits,” tart cherries are rich in antioxidants, anthocyanins 1 and 2, potassium, magnesium and beta carotene. Dried cherries such as those in the cherry scones illustrated here carry an ORAC value of 6,800 units per 100 g. They have low water activity and function as natural antibacterials and mold inhibitors.
(510) 914-7061


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The Ballie Birthday

Happy Ballie birthday to you! With over a million balls, nostalgia-inducing cocktails, face painters and the best mix of RnB, disco and house beats to party to, there truly isn’t any competition. Treat yourself to birthday cakes made from Pick’n’Mix sweets or a bottle of boujee Moët & Chandon with sparklers—you deserve it.

We don’t allow cakes to be brought in, but we do provide our own, and they’re right on message, made out of pick’n’mix, with a small one (for 6-10 people) costing just £10, and a large one (10-15 people) just £15. You can contact us to order one in advance, but they will also be available on the night if you forget in all the excitement…

Frequently Asked Questions

Do you do anything special for birthdays? We do! Let us know in advance as we have a little surprise for anyone celebrating. Please note small decorations are allowed (if you are joining us in the VIP area you have a guaranteed table, in the main bar the tables are limited and first come first served) but large balloons obstruct our CCTV so we politely ask for those to not be brought.

Any chance you do group discounts? Well aren’t you cheeky! We have all our offers and discounts on our offers page, check them out here.

What about birthday cakes as we would love to bring one? We have fantastic and very affordable pic’n’mix cakes available for purchase which are super fun and nostalgic. It is £10 for one for 6-8 people and £15 for one for 10-15 people served with a fun sparkler show (please note they are not vegetarian). Traditional birthday cakes with crumbs and icing are not the best combo for the ball pits so we politely ask guests to refrain from bringing these.

Can we get a refund or move our date? Our refund/transfer policy is as follows: Baller tickets: Up to 7 days in advance: We can refund or transfer tickets. Between 7 days and 48 hours before your booking: We can offer a reschedule, but no refund. Post 48 hours: No refund or reschedule. VIP Baller and Bottomless Brunch tickets: Up to 7 days in advance: We can refund or transfer tickets. Post 7 days’ notice: Tickets are non-transferable and non-refundable. All rescheduled tickets must be booked on a date within 4 weeks of the original ticket.

I am not sure how many people are able to come yet, what should I do? Check out our refund policy above – we totally understand how difficult it is to organise a group and want to make sure you have a fantastic, stress free celebration. Whilst we cannot hold spaces we have designed our refund policy to be flexible to allow you to book and make changes nearer the time whilst giving us enough notice to keep Ballie vibey and pumping 😉 Get in touch with us about any questions as we would love to help.

Can I come if I’m pregnant or injured? If you or anyone in your group is pregnant, we would love to have you along however for health and safety reasons must politely ask you to not use the balls. We also ask that all participants must be reasonably fit, in good health and free from any adverse medical condition in order to enjoy the ball pits (they’re harder to move around in than you think). Please be aware there may be flashing lights in our main ball pit. Please note there is no step free access to our Soho venue or our VIP area in our Shoreditch venue, however we would be delighted to welcome your group to our main bar area. Contact us on with any questions.

What should I wear? You must wear secure, enclosed, flat shoes in the ball pits (or up to a mid-block heel if you’re feeling daring). If you forget to bring some, we have an extremely limited number of jelly shoes for exceptional circumstances. These are not guaranteed and not reservable in advance. Swapping shoes will definitely take time out of your ball play which nobody wants! Our emergency jellies are only available for those with inappropriate footwear, not ballers who are scared to scuff their white Yeezys, so make sure your group knows which shoes to bring along. You don’t have to be dressed to the nines to get balls deep so we have a smart casual dress code that is inclusive of fashion sportswear looks that are bar/club appropriate. Trainers are a-okay, just please avoid wearing head to toe casual sportswear and tracksuits.


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How to

Wine is a delicate beverage. To get the most out of your new wine purchase, you need to treat it right. If you’re planning to drink the wine on the same day of purchase, it doesn’t really matter where you keep it. Any longer, then this guide is for you.

Where to store it

Wine likes cool, humid and dark conditions. Temperature fluctuations, vibrations, direct sunlight (even overhead fluorescent lighting) and any source of heat are an absolute no-no. Store your wine in the closet, a cool cupboard or in your home bar cabinet where it is cool and where the temperature does not fluctuate.

PRO TIP: Invest in a wine fridge (also called 'wine cooler') that keeps all your wines at a cool, constant serving temperature, and is better than a standard food refrigerator. If you are a collector and intend to age your wines for more than a decade, a wine cellar is your best option. Wine cellars have a consistent temperature and controlled humidity, which is most critical for aging. Professional services are available for storing your age-worthy wines.

How to store it

Wine bottles with a cork closure should be placed horizontally as it allows the liquid to remain in contact with the cork and prevents it from drying. This, in turn, makes the seal airtight. For bottles with screw caps, it’s okay to store your wines upright.

How long to store it

Most modern wines are meant to be drunk immediately or within 1-2 years from manufacturing. They are likely to deteriorate, rather than improve, with time. On the other hand, there are some specially crafted wines that will age and improve for decades, if stored well. The aging potential of such wines is usually mentioned on the labels.

How to store leftover wines

Like leftover food, wine loses its freshness and flavor with each passing hour or day. An opened bottle of wine can be kept for up to 3 days provided it is sealed properly and kept away from direct sunlight or heat. Store the open bottle upright in the refrigerator.

A wine saver vacuum pump set from Vacu Vin

TIP: Wine preservation gadgets like vacuum pump and stopper are available in the market, which can be used to preserve leftover wines. But if you want to worry less about that unfinished bottle consider buying a half bottle (375ml) instead.

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© 2019 Bangalore Wine Trails. All rights reserved.


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 The Joy of Thai Cooking - Bangkok River

The Joy of Thai Cooking

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Varies by cooking program

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  • The Peninsula Bangkok
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The chefs’ teachings at The Joy of Thai Cooking are firmly rooted in the five basic tastes of Thai cuisine: sweet, sour, salty, spicy and bitter. No Thai dish is ever the same and adjusting the tastes with finesse in each will be the key skill you pick up.

You can choose to dive right into the cooking or arrive earlier for a special visit to the local market. Transportation is courtesy of The Peninsula’s own personal tuk-tuk all decked out with free WiFi, cold water and towels. Zip to the market and a guide will explain to you in detail about the ingredients you will use. When you start your class at Thiptara Restaurant, revel in the private experience – the restaurant is normally closed for lunch so you get the whole space to yourself.

However, Thai cooking is never complete without decorations. As you absorb knowledge on cooking steps, this will also be your chance to bring out the food artist in you. Bust out your garnishment arrangement and produce carving skills. Walk out of the course proudly because you will be able to dress your dish to impress as a budding fine dining chef.

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A Bank Board’s Role During a Pandemic

Don’t just sit there — do  something!

This is probably the normal emotional reaction of many bank directors as the COVID-19 pandemic consumes large chunks of the U.S. economy, possibly putting their institutions at risk if the crisis leads to a deep and enduring recession.

The role of the board, even in a crisis of this magnitude, is still to provide oversight rather than manage. The board’s role doesn’t change during a crisis, but certainly the governance process must become more focused and strategic, the pace of deliberations must quicken and communication becomes even more important.

Bank boards are ultimately responsible for the safety and soundness of their institutions. While senior management devotes their full attention to running the bank during a time of unprecedented economic turmoil, the board should be looking ahead to anticipate what might come next.

“I think the challenge for [directors] is to gauge the creeping impact on their bank over the next few months,” says James McAlpin, who heads up the banking practice at Bryan Cave Leighton Paisner in Atlanta. “The board’s role is oversight … but I believe that in certain times — and I think this is one of them — the oversight role takes on a heightened importance and the board needs to focus on it even more.”

Many economists expect the U.S. economy to tip into a recession, so every board needs to be looking at the key indicia of the health of their bank in relation to its loan portfolio. “I’ve spoken to a few CEOs and board members over the past couple of weeks where there are active conversations going on about benchmarks over the next few months,” says McAlpin. “‘If by, say, the end of April, certain events have occurred or certain challenges have emerged, this is what we’ll do.’ In other words, there’s pre-planning along the lines of, ‘If things worsen, what should be our response be?’”

This is not the first banking crisis that David Porteous, the lead director at Huntington Bancshares, a $109 billion regional bank in Columbus, Ohio, has lived through. Porteous served on the Huntington board during the previous banking crisis, recruiting a new executive management team and writing off hundreds of millions of dollars in bad loans. That experience was instructive for what the bank faces now.

Porteous says one of the board’s first steps during the current crisis should be to take an inventory of the available “assets” among its own members. Are there directors whose professional or business experience could be helpful to the board and management team as they work through the crisis together?

Communication is also crucial during a crisis. Porteous says that boards should be communicating more frequently and on a regular schedule so directors and senior executives can organize their own work flow efficiently. Given the social distancing restrictions that are in effect throughout most of the country, these meetings will have to occur over the phone or video conferencing.

“You may have meetings normally on a quarterly or monthly basis, but that simply is not enough,” Porteous says. “You need to have meetings in between those. What we have found at Huntington that served us very well in 2008 and 2009 and is serving us well now, we have set a time — the same day of the week, the same time of the day, every other week — where there’s a board call. So board members can begin to build their plans around that call.”

Porteous says the purpose of these calls is for select members of the management team to provide the board with updates on important developments, and the calls should be “very concise, very succinct” and take “an hour or less.”

Porteous also suggests that either the board’s executive committee or a special committee of the board should be prepared to convene on short notice, either virtually or over the phone, if a quick decision is required on an important matter.

C. Dallas Kayser, the non-executive chairman at City Holding Co., a $5 billion regional bank headquartered in Charleston, West Virginia, says that when the pandemic began to manifest itself in force, the board requested reports from all major divisions within the bank. “The focus was to have everybody drill down and tell us exactly how they’re responding to customers and employees,” he says. Like Porteous at Huntington, Kayser has asked the board’s executive committee to be available to meet on short notice. The full board, which normally meets once a month, is also preparing to meet telephonically more often.

As board chair, Kayser says he feels a special responsibility to support the bank’s chief executive officer, Charles “Skip” Hageboeck. “I’ve been in constant conversations with Skip,” he says. “I know that he’s stressed. Everyone is, in this situation.” Being a CEO during a crisis can be a lonely experience.  “I recognize that, and I’ve made myself available for discussions with Skip 24/7, whenever he needs to bounce anything off of me,” Kayser says.

One of the things that every board will learn during a crisis is the strength of its culture. “The challenges that we all face in the banking industry are unprecedented, and it really becomes critical now for all directors, as well as the senior leadership of the organizations that they oversee, to work together,” says Porteous. One sign of a healthy board culture is transparency, where neither side holds back information from the other. “You should have that all the time, but it’s even more critical during a crisis. Management and the board have got to have a completely open and transparent relationship.”

This Is a Red Flag for Banks

yield-curve-7-5-19.pngThe yield curve has been in the news because its recent gyrations are seen as a harbinger of a coming recession.

The yield curve is the difference between short- and long-term bond yields. In a healthy economy, long-term bond yields are normally higher than short-term yields because investors take more risk with the longer duration.

In late June, however, the spread between the yield on the three-month Treasury bill and the 10-year Treasury note inverted—which is to say the 10-year yield was lower than the three-month yield.

Inverted Yield Curve.png

An inverted yield curve doesn’t cause a recession, but it signals a set of economic factors that are likely to result in one. It is a sign that investors lack confidence in the future of the economy. Or to put it another way, they have greater confidence in the economy’s long-term prospects than in its near-term outlook.

Long-term yields drop because investors want to lock in a higher return. This heightened demand for long-dated bonds allows the U.S. Department of the Treasury to offer lower yields. The historical average length of recessions is about 18 months, so a 10-year Treasury note takes investors well beyond that point.

Short-terms Treasury yields rise because investors are skittish about the economy’s near-term prospects, which requires the Treasury Department to entice them with higher yields.

It turns out that inverted yield curves have a pretty good track record of predicting recessions within the next 12 months. The last six recessions were preceded by inverted yield curves, although economists point out that inversions in 1995 and 1998 were not followed by subsequent downturns. And more than two years passed between an inversion in December 2005 and the onset of the 2008 financial crisis.

Still, an inverted yield curve is an economic red flag for banks. The industry’s performance inevitably suffers in a recession, and even the most conservative institutions will experience higher loan losses when the credit cycle turns.

An inversion is a warning that banks should tighten their credit standards and rein in their competitive impulses. Some of the worst commercial loans are made 12 to 18 months prior to an economic downturn, and they are often the first loans to go bad.

Ironically, if banks tighten up too much, they risk contributing to a recession by cutting off the funding that businesses need to grow. Banks make these decisions individually, of course, but the industry’s herd instinct is alive and well.

It’s possible that the most recent inversion presages a recession in 2020. In its June survey, the National Association of Business Economics forecast the U.S. economy to grow 2.6 percent this year, with only a 15 percent chance of a recession. But they see slower growth in 2020, with the risk of a recession by year-end rising to 60 percent.

This has been an unprecedented time for the U.S. economy and we seem to be sailing through uncharted waters. On July 1, the economy’s current expansion became the longest on record, and gross domestic product grew at a 3.1 percent annualized rate in the first quarter. Unemployment was just 3.6 percent in May—the lowest in 49 years—while inflation, which often rises when the economy reaches full employment because employers are forced to pay higher salaries to attract workers, remained under firm control.

These are historic anomalies, so maybe the old rules have changed.

The Federal Open Market Committee is widely expected to cut the fed funds rate in late July after raising it four times in 2018. That could both help and hurt bankers.

A rate cut helps if it keeps the economic expansion going. It hurts if it makes it more difficult for banks to charge higher rates for their loans. Many banks prospered last year because they were able raise their loan rates faster than their deposit rates, which helped expand their net interest margins. They may not benefit as much from repricing this year if the Fed ends up cutting interest rates.

Is an inverted yield curve a harbinger of a recession in 2020? This economy seems to shrug off all such concerns, but history says yes.

An Easy Way to Learn More About Banking

governance-5-24-18.pngEvery year when Richard Davis was the chief executive officer of U.S. Bancorp, he would travel to see Warren Buffett in Omaha, Nebraska.

“The meetings were always on the same day and always lasted exactly an hour and 15 minutes,” Davis once told me. “That wasn’t the plan. It just happened that way.”

Even though the meetings went over an hour, however, there were never people in the waiting room annoyed that the conversation went long. The tranquility was refreshing to Davis, who was accustomed to days packed with back-to-back meetings.

Buffett guards his time. He spends 80 percent of his day reading and thinking, he has said.

A student at Columbia University once asked Buffett, the chairman and CEO of Berkshire Hathaway, how to become a great investor. “Read 500 pages like this every day,” Buffett said, holding up a stack of papers. “That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”

The same is true of banking, I believe.

But where should one start? What are the most important things to read if one wants to learn more about banking?

As someone who has been immersed in banking literature for nearly a decade, I recommend starting with the annual shareholder letters written by a trio of top-performing bankers.

The best known is Jamie Dimon’s annual letter written to the shareholders of JPMorgan Chase & Co.

“Jamie Dimon writes the best annual letter in corporate America,” Buffett said on CNBC in early 2012. “He thinks well. He writes extremely well. And he works a lot on the report—he’s told me that.”

In his letter this year, Dimon talks about JPMorgan’s banking philosophy. He talks about leadership. He talks about the things JPMorgan doesn’t worry about: “While we worry extensively about all of the risks we bear, we essentially do not worry about things like fluctuating markets and short-term economic reports. We simply manage through them.”

And Dimon comments extensively on an array of critical issues facing not just the banking industry, but the broader economy and society: “[I]t is clear that partisan politics is stopping collaborative policy from being implemented, particularly at the federal level. This is not some special economic malaise we are in. This is about our society. We are unwilling to compromise. We are unwilling or unable to create good policy based on deep analytics. And our government is unable to reorganize and keep pace in the new world.”

A second CEO who writes an especially insightful letter is William Demchak at Pittsburgh-based PNC Financial Services Group.

In his latest letter, Demchak delves into PNC’s retail growth strategy, outlining the bank’s expansion into new markets using a combination of physical locations, aggressive marketing and digital delivery channels.

Demchak also discusses the changes underway in banking: “It’s an amazing time in the industry—exciting, if you’ve been preparing for it, and probably terrifying if you haven’t. . . . [I]n some ways, it feels like we’re running through the woods with 5,400 other players and one big bear: retail customers and deposit consolidation. Some will be lost in the chaos; others will fall victim to bad decisions and the realization that they waited too long to start moving toward the future.”

Last but not least is the letter written by Rene Jones at M&T Bank Corp, a regional lender with $120 billion in assets based in Buffalo, New York. Of all the annual messages written by bank CEOs this year, Jones’ does the most to advance the industry’s narrative.

It’s crafted around two arguments, the first of which concerns the growing share of retail deposits held by the nation’s biggest banks. This trend isn’t simply a function of scale and technology, Jones argues. It’s also driven by demographic patterns.

“Historically, deposit growth itself is highly correlated to increased employment, income and population,” Jones writes. “The banks with the most scale have benefited from their outsized presence in the largest U.S. markets, which unlike past recoveries, have experienced a disproportionate share of the nation’s economic growth.”

Jones’ second argument concerns the need to refine the existing regulatory framework: “Regulation, like monetary policy, is a tool whose purpose is simultaneously to promote the economy while protecting those who operate within it. It is a difficult balance—especially so after significant events such as the financial crisis. The practice of implementing and adjusting regulation is both necessary and healthy, because its impacts are felt by communities large and small.”

Jones’ message will resonate with bankers, as M&T has long been an unofficial spokesman for the industry on regulatory matters, giving voice to their frustration with the sharp swing in the regulatory pendulum over the past decade.

In short, all these letters are worth the modest amount of time they take to read. They are three of the leading voices in banking today. There’s a reason someone like Warren Buffett reads what they write.

The Big Picture of Banking in Three Simple Charts

banking-3-22-19.pngOne thing that separates great bankers from their peers is a deep appreciation for the highly cyclical nature of the banking industry.

Every industry is cyclical, of course, thanks to the cyclical nature of the economy. Good times are followed by bad times, which are followed by good times. It’s always been that way, and there’s no reason to think it will change anytime soon.

Yet, banking is different.

The typical bank borrows $10 for every $1 in equity. On one hand, this leverage accelerates the economic growth of the communities a bank serves. But on the other, it makes banks uniquely sensitive to fluctuations in employment and asset prices.

Even a modest correction in the business cycle or a major asset class can send dozens of banks into receivership.

“It is in the nature of an industry whose structure is competitive and whose conduct is driven by supply to have cycles that only end badly,” wrote Barbara Stewart in “How Will This Underwriting Cycle End?,” a widely cited paper published in 1980 on the history of underwriting cycles.

Stewart was referring to the insurance industry, but her point is equally true in banking.

This is why bankers with a big-picture perspective have an advantage over bankers without a similarly deep and broad appreciation for the history of banking, combined with knowledge about the strengths and infirmities innate in a bank’s business model.

How does one go about gaining a big-picture perspective?

You can do it the hard way, by amassing personal experience. If you’ve seen enough cycles, then you know, as Jamie Dimon, the CEO of JPMorgan Chase & Co., has said: “You don’t run a business hoping you don’t have a recession.”

Or you can do it the easy way, by accruing experience by proxy—that is, by learning how things unfolded in the past. If you know that nine out of the last nine recessions were all precipitated by rising interest rates, for instance, then you’re likely to be more cautious with your loan portfolio in a rising rate environment.

You can see this in the chart below, sourced from the Federal Reserve Bank of St. Louis’ popular FRED database. The graph traces the effective federal funds rate since 1954, with the vertical shaded portions representing recessions.

A second chart offering additional perspective on the cyclical nature of banking traces bank failures since the Civil War, when the modern American banking industry first took shape.

This might seem macabre—who wants to obsess over bank failures?—but this is an inseparable aspect of banking that is ignored at one’s peril. Good bankers respect and appreciate this, which is one reason their institutions avoid failure.

Not surprisingly, the incidence of bank failures closely tracks the business cycle. The big spike in the 1930s corresponds to the Great Depression. The spike in the 1980s and 1990s marks the savings and loan crisis. And the smaller recent surge corresponds to the financial crisis.

All told, a total of 17,365 banks have failed since 1865. A useful analog through which to think about banking, in other words, is that it’s a war of attrition, much like the conflict that spawned the modern American banking industry.

A third chart offering insight into how the banking industry has evolved in recent decades illustrates historical acquisition activity.

Approximately 4 percent of banks consolidate on an annual basis, equating to about 200 a year nowadays. But this is an average. The actual number has fluctuated widely over time. Twitter_Logo_Blue.png

From 1940 through the mid-1970s, when interstate and branch banking were prohibited in most states, there were closer to 100 bank acquisitions a year. But then, as these regulatory barriers came down in the 1980s and 1990s, deal activity surged.

The point being, while banking is a rapidly consolidating industry, the most recent pace of consolidation has decelerated. This is relevant to anyone who may be thinking of buying or selling a bank. It’s also relevant to banks that aren’t in the market to do a deal, as customer attrition in the wake of a competitors’ sale has often been a source of organic growth.

In short, it’s easy to dismiss history as a topic of interest only to professors and armchair historians. But the experience one gains by proxy from looking to the past can help bankers better position their institutions for the present and the future.

Take it from investor Charlie Munger: “There’s no better teacher than history in determining the future.”

Ensuring a Safe & Sound Banking System

One of the principal jobs of the Comptroller of the Currency—if not the principal job—is to ensure the safety and soundness of the U.S. banking system. After nine years of economic growth, are regulators looking ahead for a potential downturn? In this conversation at Bank Director’s Bank Audit and Risk Committees Conference, former Comptroller of the Currency Tom Curry shares his thoughts and advice on a variety of issues with Bank Director Editor in Chief Jack Milligan.

Highlights from this video:

  • Risks in the Banking System Today
  • Preparing for a Potential Economic Downturn
  • What’s Changing with Regulatory Relief
  • Developing a Good Regulatory Relationship
  • The Impact of Regtech and Fintech

Optimistic About Loans But Worried About Deposits

risk-3-5-18.pngThere are a lot of reasons why Greg Steffens is confident about the economy. As the president and CEO of $1.8 billion asset Southern Missouri Bancorp, which is headquartered in the southern Missouri town of Poplar Bluff, he sees that consumers are more confident, wages are growing, most corporations and individuals just got a tax break, and the White House announced a major infrastructure funding plan.

Steffens projects that a strong local economy will help Southern Missouri to grow loans by 8 to 10 percent this year. But he sees the potential for net interest margin compression as well, particularly because competition for loans and deposits has gotten so tight.

His thoughts about the future, a mixture of optimism and concern, are typical of bankers these days as shown by Promontory Interfinancial Network’s latest Bank Executive Business Outlook Survey. Although bankers report higher funding costs and increased competition for deposits, their optimism about the future has improved, and economic conditions for their banks are better now than they were a year ago.

Top-Lines-Q4-2017-long-version.pngAlong with a generally improving national economy and improvements in the banking sector, the passage of the Tax Cuts and Jobs Act shortly before the survey was taken likely influenced the increase in optimism among many bankers. The emailed survey, conducted from Jan. 16 through Jan. 30, included responses from bank CEOs, presidents and chief financial officers from more than 370 banks.

Some highlights include:

  • Sixty-three percent say economic conditions have improved compared to a year ago, while 5 percent say things have gotten worse, compared to 49 percent last quarter who said conditions improved and 9 percent who said things had gotten worse.
  • Slightly more than 58 percent report a recent increase in loan demand, up 7.5 percentage points from last quarter.
  • Bankers think the future will be even better with 64 percent projecting an increase in loan demand in 2018, compared to just 51.2 percent who projected annual loan growth in the fourth quarter 2017 survey.
  • The Bank Confidence IndexSM, which measures forward-looking projections about access to capital, loan demand, funding costs and deposit competition, improved by 2.4 percentage points from last quarter to 50.5, the highest rating for the index since the second quarter of 2016.
  • Regionally, the highest percentage of bankers expecting loan growth is from the South at 71.9 percent. But the biggest improvement in expectations for loan growth is in the Northeast, which climbed 27.1 percentage points from last quarter to 64.1 percent expecting loan growth in 2018.

Charlie Funk, the president and CEO of MidwestOne Financial Group, a $3.2 billion asset banking company in Iowa City, Iowa, says he expects the tax cuts will lead to higher commercial loan growth, although he hasn’t seen evidence of that yet.

He’s worried now about another factor on his balance sheet: deposit competition. “Deposits are going to be where the major battles are fought,’’ he says. The bank already is paying some large corporate depositors more than 1 percent APR on money market accounts, compared to 30 basis points just after the financial crisis. He expects the bank’s net interest margin to narrow somewhat this year as deposit costs increase faster than loan yields.

Other bankers report higher levels of deposit competition as well. In the Promontory Interfinancial Network survey, 80 percent of respondents expect competition for deposits to increase during the year, compared to 77.4 percent who thought so last quarter. The overwhelming majority have seen higher funding costs this year at 78.1 percent, compared to 68.4 percent last quarter who experienced higher funding costs. Nearly 89 percent of respondents expect funding costs to increase this year.

Representatives from larger community banks, with $1 billion to $10 billion in assets, were more likely to say funding costs will increase. The Northeast had the highest percentage of respondents saying funding costs will moderately or significantly increase, at 92.3 percent.

One of those Northeastern banks is Souderton, Pennsylvania-based Univest Corp. of Pennsylvania. With $4.6 billion in assets and a 100 percent loan-to-deposit ratio, the highly competitive deposit market is putting pressure on the bank to match loan growth with deposits. Univest Senior Executive Vice President and Chief Financial Officer Roger Deacon says funding costs have inched up, partly driven by competition for deposits. “The competition is almost as high on the deposit side as on the loan side,’’ he says.

The good news is that the bank is asset sensitive, meaning that when rates rise, its loans are expected to reprice faster than its deposits. “I’m cautiously optimistic about the impact of rising rates on our business,’’ Deacon says.

2013 Bank Board & Executive Survey: Rising Optimism on Banking

2013-Bank-Board--Executive-Survey.pngIn June of this year, Bank Director asked CEOs, senior executives, chairmen and audit committee members of the nation’s banks for their insights on the current state of the banking industry–and their thoughts on the future. The 2013 Bank Board & Executive Survey was sponsored by Grant Thornton LLP.

Bank leaders hold a rosier view of economic affairs for the coming year–although they remain wary of the impact of economic events on their institutions. Lending will continue to drive plans for growth, while banks strive for efficiencies that improve the bottom line in a continued low interest rate environment. Technology is also top of mind for respondents, who reveal what retail innovations they value and what cyber security risks keep them up at night.

With fewer than half of the rules within the Dodd-Frank Act finalized, it’s not surprising that survey respondents remain deeply concerned about the implementation of regulations coming out of Washington. Nichole Jordan, national banking and securities sector leader for Grant Thornton, says that bankers see that things are getting better, but remain wary of competitive and regulatory challenges. “There’s still a great deal of uncertainty as a result of the evolving regulatory environment,” she says. “Banks are increasingly concerned that they will be unable to meet onerous compliance requirements and still be profitable.”

Key Findings

  • Forty-three percent of executives and directors surveyed expect the U.S. economy to improve in the next six months, a rise of 30 percentage points since last year’s survey.
  • Margin compression was the top concern for 89 percent of respondents, followed by the regulatory compliance burden for 86 percent of respondents and loan competition for 78 percent.
  • When asked about specific regulatory issues, respondents indicate greater concern about implementation of the Dodd-Frank Act and the regulatory and supervisory activities of the Consumer Financial Protection Bureau, and lesser concern about Basel III implementation and the Bank Secrecy Act. Most respondents describe the CFPB’s impact as more negative than positive, though they are split on whether the CFPB will impact their bank’s business strategy.
  • Executives and directors express less concern on the issue of capital than other issues, with 71 percent indicating that their bank’s capital levels are satisfactory. Of those that do plan to raise capital, half plan to do so through a private offering to existing shareholders, while 47 percent plan a secondary offering on the public market.
  • Cyber security risk is a growing concern for bankers, particularly for institutions with more than $10 billion in assets. When asked about specific aspects of cyber security risk, respondents worry most about online banking fraud, at 76 percent, and data theft, at 73 percent.
  • Banks are willing to trim staff as a way to become more efficient. Forty percent of respondents indicate that their bank plans to reduce staff, and 34 percent plan to close branches.
  • Banks remain wary of social media, with less than half of respondents saying their bank engages with customers via Facebook or Twitter.

About the Survey:

Over 130 senior executives and directors of U.S. banks with more than $500 million in assets responded to the 2013 Bank Board & Executive Survey. Sixty-three percent of respondents serve as board members; CEOs account for 18 percent of responses. Thirty-eight percent of respondents work for or serve on the board of a bank with between $1 billion and $5 billion in assets, and most , at 71 percent, represent a publicly owned institution.

For full survey results, click here.

Phone Survey: Fiscal Cliff Will Impact Banks and Their Customers

fiscal-cliff.jpgAfter endless amounts of media coverage on the fiscal cliff, I felt it was time to hear from community bank chief executive officers.  Unlike the pundits on TV, community bankers work with small and medium-sized businesses that are driving economic growth and I thought it would be interesting to get a quick take on the fiscal cliff from the point of a view of community bankers. For instance, which will hurt bank customers the most: cuts in spending or tax increases? What are the chances that Congress and the president will reach a deal to avert the fiscal cliff before Jan. 1? How will the drastic cuts in spending and tax increases impact lending? What are the prospects for economic growth if a deal is reached?

The fiscal cliff refers to the series of automatic spending cuts and tax increases that will reduce the federal deficit by $503 billion in fiscal year 2012 to 2013, unless Congress comes up with a compromise to avoid the automatic cuts and tax increases, according to Council on Foreign Relations, a Washington, D.C.-based think tank. Half of the scheduled cuts would come from the defense budget. Some of the automatic tax increases include a reversal of the George W. Bush tax cuts, which would mean an increase in the top tax rate and higher capital gains and dividend taxes. Payroll taxes would also go back to prior year levels. The Congressional Budget Office has projected the automatic “cliff” could reduce the nation’s gross domestic product by 2.9 percent in the first six months, meaning unemployment would rise and the economy would likely fall into a double-dip recession, according to the nonpartisan Economic Policy Institute.

We conducted a phone poll Dec. 7 to Dec. 13 and got responses from 58 bank CEOs.

In our phone poll, CEOs expressed pessimism on the prospect of reaching a compromise before the deadline for automatic tax increases and spending cuts. Fifty-five percent of CEOs said they did not believe that Congress and the president would get a deal in place before the deadline.

Unsurprisingly, 66 percent of all CEOs thought the tax increases would be more detrimental to their customers than the spending cuts. Eighteen percent thought cuts would affect their customers more than tax increases.

On a happier note, if the fiscal cliff is averted and a compromise deal is reached with some tax increases and spending cuts, 57 percent of bank CEOs expected to see some economic growth while only 29 percent thought the economy would be stagnant with little growth.

While 67 percent of all bankers surveyed said they did not believe that “going off” the fiscal cliff would affect their lending activity, 31 percent said they thought the failure to reach a compromise would cause their bank to be less likely to lend.

Hopefully before the ball drops in Times Square, the folks in Washington won’t let the ball drop on the economy.

The Mixed Blessing of Bank Deposits

mixed-blessing.jpgThe U.S. banking industry is drowning in deposits and that’s not necessarily a good thing. As of June 30, deposits in U.S. banks (but excluding credit unions) totaled $8.9 trillion, up nearly 8.5 percent from June 30, 2011, according to the Federal Deposit Insurance Corp. Total bank deposits have actually increased every year since 2003, although the increase from 2011 to 2012 was the sharpest jump over that time.

There’s no great mystery why this is happening. The U.S. economy’s uncertain outlook and a volatile stock market has led many consumers and businesses to park their investment funds in insured deposit accounts rather than risk losing a big chunk in another market meltdown. Normally banks would be quite happy to have a surfeit of low-cost deposit funding, but it’s actually something of a mixed blessing nowadays. Slack loan demand and low rates of return on investment securities like U.S. Treasuries, the latter a direct result of the Federal Reserve’s easy money policy in recent years that has kept interest rates low, are making it very difficult for banks to earn a decent return on all those deposits.

What makes this multi-year increase in deposits so interesting is that it has occurred at the same time banks have been closing branches and pruning their networks. As of June 30, according to the FDIC, there were 97,337 bank branches nationwide, down from a high of 99,550 in 2009, and there has been a consistent year-over-year decline since then. There’s no mystery why this is happening either. Two seminal events since 2010—new restrictions on overdraft charges and a cap on debit card fees—have taken a big bite out of the profitability of most retail banking operations and banks have responded by cutting costs, partly through layoffs but more so through branch closings. That deposit levels have continued to rise, even as the number of branches has declined, has no doubt made it easier for banks to trim their brick-and-mortar networks.

But here’s the rub. What happens if in a few years the U.S. economy makes a strong comeback and retail investors are once again confident enough to put their money into the stock market? Banks don’t have to compete with the stock market now for consumer funds, but they would in that scenario. Most banks have developed multi-channel distribution systems with the traditional branch as the hub and alternatives like automated teller machines, in-store branches, the Internet and more recently the mobile phone as spokes. And while remote channels like online and mobile have steadily grown in popularity in recent years, how effective will they be as deposit gathering tools if banks must once again compete for funds?

Here’s my best guess at what the future holds: Don’t be surprised if, say, five years from now the trend has reversed itself and banks are once again opening new branches.  It might be like a relic of days gone by, but a deposit war between Main Street and Wall Street would be just the thing to give the hoary old bank branch a new lease on life.


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Tuesday, September 03, 2019

A lifelong dream washed away

Out of the Philadelphia Phillies’ clubhouse at Citizens Bank Park he strode, past the coaches’ offices and the video room, down the steps, through the dugout tunnel, clad in team-issued, home-white game pants and a T-shirt. It was perhaps 21/2 hours before the first pitch of a game that, judging from a radar full of giant yellow and orange blobs, appeared doomed. He was 30 years old, with eight years in the minors, and that evening, weather permitting, he would be making his big league debut.

Meatwad Posted: September 03, 2019 at 07:54 AM | 10 comment(s) Login to Bookmark
  Tags: cup o coffee, phils, postponement

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   1. Brian Posted: September 03, 2019 at 10:35 AM (#5876415)
Excellent article.
   2. The Yankee Clapper Posted: September 03, 2019 at 11:37 AM (#5876437)
The article is a year old, and was the subject of a BBTF thread when published. Perhaps the delays in the submission process are worse than previously reported.
   3. gef, talking mongoose & vexatious litigant Posted: September 03, 2019 at 03:58 PM (#5876499)
Has "Hub Fans Bid Kid Adieu" shown up yet?
   4. Starring RMc as Bradley Scotchman Posted: September 03, 2019 at 08:27 PM (#5876570)
   5. John Northey Posted: September 03, 2019 at 11:56 PM (#5876632)
I hate it when teams do stuff like that - call a guy up who has never had a shot, he doesn't get a chance, then doesn't call him back up for that shot in September. Every team has 40 man slots manned by guys who you can dump easily. To say that it was impossible is annoying.

A few years ago the Jays called up a catcher in September to be a 3rd one but he never got into a game, just sat on the bench all month - don't think he ever got another call-up. That really annoys me, I mean, c'mon, give the guy one inning somewhere - there had to be at least one blowout they could've let him get one PA or one inning behind the plate for. Every manager, every player knows how important that one chance is so let the guy have it for crying out loud.
   6. Howie Menckel Posted: September 04, 2019 at 01:03 AM (#5876636)
the Brooklyn Dodgers had a player who was called up late, never played in a game, and who was part of the dugout crew that was cleared out after a controversial play.

the rest of the story

this was late in the Dodgers' 1951 season. this player was in uniform even for the "Shot Heard Round the World" by the NY Giants' Bobby Thomson just a short time later.

said player also retreated into obscurity.

I'm kidding.

This was Bill Sharman, who wound up being the MVP of the 1955 All-Star Game - the NBA All-Star Game. He won 4 NBA titles as a Celtics player, another as head coach of the 1971-72 Lakers and their record 33-game winning streak, and 5 more as a Lakers executive.

He is credit with creating the "morning shootaround" as a way to get Wilt Chamberlain to leave his unmarital bed before mid-afternoon, and was named one of the NBA's 50 Greatest Players in 1996.
   7. Fancy Pants Handle struck out swinging Posted: September 04, 2019 at 04:17 AM (#5876644)
21/2 hours

Twenty-one half hours? What an odd way to measure time...
   8. What did Billy Ripken have against ElRoy Face? Posted: September 04, 2019 at 08:50 AM (#5876653)
He is credit with creating the "morning shootaround" as a way to get Wilt Chamberlain to leave his unmarital bed before mid-afternoon
Why the hell did he care what time Wilt Chamberlain got out of bed as long as he showed up on time for the game?
   9. Itchy Row Posted: September 04, 2019 at 09:29 AM (#5876664)
Some stories say Sharman started morning shootarounds at his first coaching job, for the Cleveland Pipers- a team owned by George Steinbrenner.
   10. Dr. Pooks Posted: September 04, 2019 at 09:49 AM (#5876671)
John Northey is referring to Brian Jeroloman, and there's always more behind the story

He was called up to the major leagues on August 23, 2011,[3] and, although he remained on the major league roster for the rest of the 2011 season (37 days), he did not appear in a major league game. Much later, it was revealed that Jeroloman was suffering from a sprained right wrist for at least part of his stay on the Blue Jays' active roster,[4] but was never placed on the disabled list.

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Today's odd hobby is...

Meet Mr. Hank Magwood, he LOVES flattening things.
Have you ever wanted to see what a silver tea pot would look like after being run over by an excavator? Well wait no more! That's right, that's what Hank does! He flattens things. Check out his website Hank Makes It
He has lots of picture of things that he has flattened and even some videos of him in action. Go check it out! :)

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