When Will Distressed Sales ‘Normalize’?

first_img When Will Distressed Sales ‘Normalize’? With much of the talk surrounding the housing market centered on “normalization” or returning to its pre-crisis state, one metric which the market is watching is the distressed sales share—the share of REO and short sales that comprise total residential home sales.For February 2016, the distressed sales share declined by 2.9 percentage points over-the-year (and 0.4 percentage points over-the month) down to 11 percent, according to data released by CoreLogic on Thursday.At their peak in January 2009, distressed sales accounted for nearly one-third of all residential home sales (32.4 percent) but has been declining steadily since then. By comparison, the pre-crisis share of distressed sales was typically around 2 percent; CoreLogic estimates that if the current rate of year-over-year decline continues, the distressed sales share will reach the “normal” pre-crisis level in slightly more than two years.“Prior to the housing crash, the distressed share of total sales averaged about 2 percent,” CoreLogic Chief Economist Frank Nothaft said. Rising home prices have bolstered borrowers mortgage equity, and has been a driver of the large decreases in distressed sales. “If the current housing and mortgage market trends continue, we would expect the distressed sales share to get to the pre-crash level by mid-2018.”February’s REO sales share of 7.8 percent was less than a third of what it was at its peak of 27.9 percent in January 2009. Like the overall distressed sales share, February’s REO sales share was down by 2.9 percentage points over-the-year and is the lowest share for any February since 2007.Meanwhile, the short sales share for February was 3.3 percent, and has remained in the 3 to 4 percent range since falling below 4 percent in mid-2014, according to CoreLogic.All but nine states recorded a year-over-year decline in distressed sales share in February 2016; the five states with the highest share were Maryland (19.9), Connecticut (19.1), Michigan (18), Florida (17.5), and Illinois (17.1) while North Dakota had the lowest distressed sales share at 2.5 percent. But for all the year-over-year declines, only North Dakota and the District of Columbia had a distressed sales share within one percentage point of their pre-crisis levels.California was the state that in February 2016 experienced the largest decline in distressed sales share from its peak. Since reaching a peak of 67.4 percent in January 2009, the distressed sales share in California has fallen by 59.8 percentage points.The five metros with the highest distressed sales share in February were Baltimore (19.8), Chicago (19.4), Tampa (19.1), Orlando (19.1) and Las Vegas (14.1). Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CoreLogic Distressed Sales REO Short Sales 2016-05-05 Brian Honea Home / Daily Dose / When Will Distressed Sales ‘Normalize’? Tagged with: CoreLogic Distressed Sales REO Short Sales About Author: Brian Honea May 5, 2016 1,505 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DS News Webcast: Thursday 5/5/2016 Next: HUD Addresses Affordable Housing Crisis The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, REO Subscribelast_img read more

Credit unions’ two greatest growth challenges – An aging member base and slowed member growth

first_imgWith a brand platform built around “Banking for the Non-Conformist™, and a tagline “We’re Small Enough to Know Better,” Trailhead was poised to capture people’s attention and be relevant in a highly competitive Portland market. In the first full year of implementing an enterprise-wide transformational rebranding program, Trailhead’s loans increased 18%, net membership growth rose to double digits, website traffic increased 28% and overall capital increased 54 basis points.In the six-year brand transformation journey between 2013 and 2019, net membership increased an incredible 61.9% total. More importantly, GenZ and younger millennials (18-24) grew 62%, and 25-34-year-old millennials grew 248%, lowering the overall age of membership by seven years, and dropping more each month. This contrasts the steady growth of Boomers (55-64) at 11% and GenX members (45-54) at 26%. This was a driving goal of the rebranding initiative and the rebranding initiative was overwhelmingly successful in attracting and inspiring millennials for the first time.By bucking conformity, aligning all employees on a shared Organizational Journey, Trailhead’s brand stands fully apart in a highly competitive Portland metro market. Besides record-setting millennial growth and a lowered average member age rate, Trailhead’s brand continues to help the organization drive record-setting loan growth, net income and earnings. Trailhead engaged the entire culture, from tellers to the board, in a shared purpose-driven journey of transformation that has increased staff retention, passion and member loyalty exponentially.Transforming From an Operational and Product Focus to a Personalized and Brand-led Focus Envisioning Transformation and the Journey To Get There. What does organizational focus look like when a credit union shifts from being traditionally operational-focused (or product and rate focused) to being a savvy, brand-driven organization where each employee knows and lives out the language, behaviors and relevant actions of the brand with members, your communities and each other? How does an organization pivot toward a “transformational journey” by building a fully aligned brand focused on driving rich and integrated member experiences and shared cultural focus that leads to record Millennial growth and bottom-line performance?By focusing all stakeholders on a shared alignment of enhancing member value and experiences, brand foundation and purpose, it becomes much easier to realign people around managing change, and delivering on a shared set of brand experience initiatives to improve your value proposition.We call this transformational focus to change, a shared “Organizational Road Map.” It doesn’t start with DP system upgrades, new branch investments and digital transformation first. It starts with gathering deep member insights; engaging stakeholders in the process; the development of a clear brand vision and strategy. It will ultimately weave those vital channel improvements to remove “friction” from an aging and often complex member experience because stakeholders are now led and focused around a unified set of shared member journey objectives, rich data analytics, corporate initiatives and integrated user experience design and execution. All tied to a fresh and unified new brand platform, shared promise and renewed commitments from individual staff. That is transformation at its best.Redwood Credit Union: A Case Study in Renewed Brand Focus and Cultural AlignmentWhile steady growth and solid results were already occurring for the $4 billion Santa Rosa-based Redwood Credit Union, increasingly meaningful competition in the area left them searching for an answer to a critical question, “How do we stay on top?”Redwood CU knew they had a strong brand, though a bit dated visually, and didn’t want to limit its growth by simply refreshing it for the sake of change. The problem was a lack of clarity in how to fully express the brand and talk about it in a consistent and differentiating way across the organization. They wanted to continue on their consistent path to success, but weren’t exactly sure how to shape their brand and maintain it. The credit union’s brand had so much potential; all it needed was a boost in the right direction.“We weren’t looking to rebrand. We were looking for a way to articulate our brand that captured the real essence of who we were and what made us special,” said Brett Martinez, Redwood CU’s CEO.The team at Strum began an internal review on the current status of Redwood CU’s culture with an extensive qualitative and quantitative market research process. Research focused on the journey that members took when they first became members with an auto loan, mortgage or checking account to gain insights. Research also found the name Redwood was well entrenched in the community. With strong awareness, a stellar brand image, a reputation for competitive pricing and a long-standing connection with its members, Redwood CU discovered early on that their name was a major asset. They chose to forgo the name change many credit unions take looking for a fresh start. Instead, the Strum team recommended articulating and expressing the essence of the brand strategy and enhancing their identity for more robust and relevant storytelling. The new brand tagline “For All That You Love™,” set the new tone of voice and a bright, fresh new identity helped bring their value proposition to life.The result of the credit union’s brand journey of transformation is reflective in the results of its expanded reach around its newly developed brand, creative campaigns, branch messaging, and staff cultural training all led by Strum. In the first year following the brand transformation, total assets increased by 14%, loans increased 14%, ROA reached a record 2.2, and the member base grew 6%. The following two years saw even greater results in their year-over-year growth pace, with Redwood experiencing record-setting growth in 2018 of almost 10% net membership growth, 16.6% in increased loans, net income of $87 million, and an increase of 19% in equity. Redwood Credit Union grew organically $2.2 billion from 2016 to 2018 and is nearing $5 billion in late-2019. Redwood was recognized by a national study as one of the 5 healthiest credit unions in the US and are proud of their astonishing employee engagement score of 91. Redwood lives and breathes their brand every day in their interactions with each other, their members and their communities.So how is your credit union planning to tackle the challenges of competitive growth and becoming relevant and more appealing to younger target audiences in 2020? How well-aligned are you to evolve your organizational journey toward a purpose-driven vision, a sustainable growth model and an optimistic future centered around a relevant, well differentiated brand strategy and an inspired culture? 2020 might be the year to reconsider your highest priorities for cultural inspiration and sustainable growth.For an initial discussion of your organization’s brand and growth strategy challenges, contact Strum. Credit unions are increasingly facing two critical obstacles for growth, a steadily aging member base (averaging 47 years old vs. the US national average age of 37.8), and difficulty attracting and retaining younger Millennial audiences that help drive lending, online banking and growing revenue opportunities. Those same challenges of attracting Millennials may also be hindering some organizations’ ability to attract and especially retain young talent without a purpose-driven brand, inspiring vision, and a well-focused culture.While few financial leaders would argue the critical need to tackle these two growth challenges, the options to change a downward growth trajectory are not unlimited. Amidst fast rising fintech and traditional banking competition, the alternatives to accelerate growth are often costly initiatives ranging from multi-million dollar new branches, mobile and digital tech investments, new market expansion and increased marketing expense. While all those can be important tools, none bring the enterprise-wide engagement, passion, focus and shared purpose of a well-focused rebranding initiative.That raises some critical growth questions for 2020 and beyond:What can you learn from $120 million to $5 billion asset sized organizations who tackled growth challenges head-on—exploring, realigning and refreshing their brand; enhancing cultural focus and competitive positioning in their markets, and gaining scarce “mind share?”How can you increase your relevance, marketplace image, member experiences and acquisition of new Millennial and GenZ prospects so you don’t age yourself out of existence? Are there ways to attribute the impact of your brand investment to helping increase market share, enhancing talent acquisition and increasing bottom line results? Should digital and mobile innovation be the lead driver of your future growth strategies?Sometimes organizations pursue Millennial acquisition (and brand relevance) by trying to find a “silver bullet” among new mobile, digital and tech solutions alone. Yet if every financial institution is flocking to arrive at the same digital-savvy destination, isn’t that just the “ante” to be in the game. What will differentiate your financial institution brand and distinctive experience from any other if it’s not extraordinary?While “digital transformation” is an essential evolutionary shift amidst dynamic competitive challenges, it is not a substitute for creating organizational shared interest around building a focused and distinctive brand position. It also sidesteps the critical importance of your people and aligning every internal stakeholder first toward a unified vision, clear target segments and living out a shared Brand Promise. Savvy leaders understand that a focus on people, cultural alignment and improving brand experiences must come first.“We built the Starbucks brand first with our people, not with consumers. Because we believed the best way to meet and exceed the expectations of our customers was to hire and train great people; we invested in employees.“ – Howard Schultz, retired CEO, StarbucksPlacing tech initiatives ahead of organizational and cultural brand alignment often slows leaders from the real goal ahead: helping your organization prepare for the changes needed to lean deeper into helping and personalizing your key audiences’ financial lives and experiences. That requires deep understanding of your members’ needs, aspirations and hopes to get ahead. It can only come from solid market research and data analytics that help you listen, learn and tackle their critical pain points and focus on their unique life needs. Trailhead Credit Union: A Case Study in total Organizational Brand Focus and ROIFaced with years of stagnant growth, declining loans and a rapidly aging membership, Portland, Oregon’s $120 million Northwest Resource Community Credit Union was running out of options to tackle sustainable growth in a highly competitive market. Following a failed “brand refresh” effort just three years earlier, they turned instead to an organization-wide journey to align their focus, target audiences, cultural shifts, brand promise and user experiences.Jim McCarthy, Trailhead CEO shared, “like other financial industry CEO’s, I spent a lot of time thinking about how my credit union could succeed and how we could gain attention and build awareness. After seven years of negative member growth, I knew we needed to make a bold move in order to grow and thrive.”   Armed with a bold new name and brand (Trailhead Credit Union), built around tightly defined lifestyle Personas that Strum titled “Urban Non-Conformists,” the results are industry-leading performance, ROI and record shattering growth of Millennials and GenZ new members that brought the aging credit union in line with a youthful and dynamic Portland marketplace. More than a facelift, it was a complete transformation from top to bottom. 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Mark Weber Mark Weber is the CEO and Chairman of Strum, a 30-year nationwide leader in financial services, branding, business intelligence analytics and data-driven strategy. With offices in Seattle and Boston, Strum … Web: www.strumagency.com Detailslast_img read more

Dispute between the City of Dubrovnik and Excelsa nekretnina resolved: The Dubrovnik cable car starts operating

first_imgAlthough ATMs are located in private premises, the fact is that they disturb the views of the historic core and the UNESCO protected site, and thus disturb the view of the same. “These are significant funds for the City of Dubrovnik that we will spend on improving the infrastructure, starting from the sports one onwards”, Said the Mayor of the City of Dubrovnik, Mato Franković, adding that the City of Dubrovnik will earn around 10 million kuna annually from the concession fee. This decision was made due to pressure and protests from the citizens of Dubrovnik, who expressed their dissatisfaction due to “ATMophobia” in the old town. They placed flowers in front of ATMs in protest. At yesterday’s 23rd session of the City Council, an out-of-court settlement was reached between the City of Dubrovnik and Excelsa nekretnina doo as well as the Decision on granting a concession, thus creating all conditions for the continuation of the popular Dubrovnik cable car. the city of Dubrovnik was closed this year. Certainly, as the Dubrovnik cable car was one of the TOP attractions of all visitors to Dubrovnik, and as its closure caused the most damage to Dubrovnik as a destination. So resolving this dispute is certainly great news for Dubrovnik. ” The fine is 10 thousand kuna per legal entity and two thousand kuna for the responsible person. Penalties will be written every day because the law allows it, so we will see if it suits anyone to receive a 300 thousand kuna fine”Pointed out the Mayor of the City of Dubrovnik, Mato Franković, writes Dubrovnik Diary. ATMs are leaving the old town Certainly a move to praise and finally the introduction of order in Dubrovnik. When we talk about sustainable development, we are certainly talking about the space and identity that we must preserve, which is our most valuable resource. Unfortunately, we are a decade behind, if not more, behind such a mindset, but the example from Dubrovnik is proof that it is still not too late and that we can still save what can be saved. The decision made it forbidden to install ATMs as well as other devices and advertising cabinets, and that the existing ATMs must be removed within 30 days, unless the owner receives the approval of the Conservation Department of the Ministry of Culture. Dubrovnik councilors also adopted amendments to the Decision on Communal Order, which should ring ATMs in the historic center if the owners do not obtain the approval of the conservator. The dispute between the City of Dubrovnik and the company Excelsa nekretnina, which are the owners of the famous Dubrovnik cable car, has finally been resolved. Photo: Pexels.com Thus, the debt from the past will be settled, with which the City of Dubrovnik will be paid HRK 26 million, and from now on the variable part of the concession fee is determined in the amount of 15% of revenues from the sale of cable car tickets, while the concession is granted for 50 year. Cover photo: Dubrovnik Cable Carlast_img read more

Man arrested for sex trafficking at the Super Bowl

first_imgThe Miami-Dade State Attorney’s Office is reporting that they have arrested a 28-year-old man who reportedly sex trafficked a 17-year-old girl during the Super Bowl while it was being held in Miami.During an undercover operation, detectives received information that the suspect Anthony Bernard Carter, and the victim traveled from Georgia under the pretense of attending Super Bowl-related activities though his true intentions were the sell of the victim for sexual activity.Authorities were able to rescue the victim, however, Carter was able to get away.While searching a vehicle Carter had been driving, they uncovered more evidence that allowed them to obtain an arrest warrant.Carter has since been arrested and is facing several charges including human trafficking and fleeing and eluding a police officer.last_img read more

Lakers rookie Ball to miss at least two more games

first_imgAlmazan vows to comeback stronger after finals heartbreak Nonito Donaire vs Naoya Inoue is BWAA 2019 Fight of the Year Walton said Ball will also miss Sunday’s game at Oklahoma City because the schedule won’t give Ball time to test the knee in training.“Today was our last real practice,” Walton said. “Saturday will be a shootaround and he will not play before he practices, so he is out until at least we get home.”FEATURED STORIESSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkBall, sprained the medial collateral ligament in his left knee on January 13 in a game against the Dallas Mavericks.Through Sunday he will have missed 10 games recovering. Nueva Ecija warehouse making fake cigarettes raided, 29 Chinese workers nabbed He missed six with a sprained shoulder in December and January.Walton indicated at the weekend that the Lakers won’t rush Ball, the second overall selection in last June’s draft.“He’ll be back when he’s ready to play,” Walton said on Saturday. “Whenever his knee feels good. Once he gets cleared it will be about getting him into practice and seeing how he feels the day after that, and we’ll start going from there.”ADVERTISEMENT OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson Pelicans acquire Mirotic from Bulls for 3 players and pick Sports Related Videospowered by AdSparcRead Next Los Angeles Lakers guard Lonzo Ball (AP Photo/Tony Gutierrez)New York, United States — Lonzo Ball will miss the last two games of the Los Angeles Lakers’ current road trip as he recovers from a sprained knee ligament, coach Luke Walton said Thursday.Ball is travelling with the team but didn’t practice in Brooklyn on Thursday ahead of Friday’s game against the Nets.ADVERTISEMENT MOST READ Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew LATEST STORIES Jiro Manio arrested for stabbing man in Marikina Michael Porter Jr. stays patient as playing time increases Don’t miss out on the latest news and information. Newsome sets focus on helping Bolts open new PBA season on right track View commentslast_img read more


first_imgThe annual GAP (Glenties, Ardara, Portnoo) Triathlon takes place on Saturday the 28th of July @ 10am on Narin strand.It comprises a 750m swim, 20k cycle and 5k run, and organisers hope to build on the successful events of the last few years. Compete individually or as a team.If you wish to participate, please register at the following link http://www.gaptourism.com/triathlon.html or on the day prior to the event. Check out the attached poster to view the event map. DETAILS RELEASED FOR ANNUAL GAP TRIATHLON was last modified: July 20th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:DETAILS RELEASED FOR ANNUAL GAP TRIATHLONlast_img read more

Manage Your Task Lists Collaboratively With Flow

first_imgWeb workers and small teams are always on the lookout for really solid, affordable productivity apps, especially when it comes to task management. Although the field may already seem crowded with popular products like Remember the Milk, Things and Producteev, there’s one more that’s worth checking out, called Flow.Flow is a new task management Web app that comes from MetaLab, a design firm that specializes in very slick, app-like interfaces for Websites, desktop and mobile applications. Accordingly, Flow is particularly well-designed, with a clean interface and the feel of a desktop app. In terms of features, it offers the usual: entering and managing tasks, deadlines, tags, and the ability to enter new tasks via email. What’s a little different about Flow, at least compared to something like Remember the Milk, is that it can be used collaboratively, as well as on an individual basis. Team members can be added and tasks can be delegated to them. Rather than a static list of to-do items, each task can be commented on by team members. 4 Keys to a Kid-Safe App Related Posts 12 Unique Gifts for the Hard-to-Shop-for People… In Flow, task lists can be broken down by “project,” but that’s about as far as things go in the direction of project management. Flow isn’t trying to be a substitute for more robust productivity suites like Basecamp and Highrise, but by the time it comes out of beta, it may give other task managers like Things and Remember the Milk a run for their money.One common shortcoming in some of these to-do list managers is cross-platform compatibility. For those of us who work off of several devices each day, a Web-based desktop solution is not enough. We need native or Web apps for iPhone, Android, iPad and Blackberry for these tools to truly be useful. Remember the Milk, for example, has iPhone, Android and Blackberry versions, but its iPad app is still under development. Meanwhile, Things is really impressive, but it’s only available for Mac and iOS and it’s not cheap. So far, Flow is only available as a Web app, but they’re working on an iPhone version, which is “almost done” according to a recent tweet from MetaLab. Flow is currently in private beta, but you can sign up for an invite here. 5 Outdoor Activities for Beating Office Burnout 9 Books That Make Perfect Gifts for Industry Ex… Tags:#biz#Reviews john paul titlowlast_img read more

French Open takes player’s credential for harassing reporter

first_imgEvery 18 seconds someone is diagnosed with HIV Palace: Duterte to hear out security execs on alleged China control of NGCP LATEST STORIES Sports Related Videospowered by AdSparcRead Next View comments The FFT said it would investigate the matter further.Hamou’s behavior also caught the attention of French politicians.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSMalditas save PH from shutoutSPORTSPrivate companies step in to help SEA Games hostingOn Twitter, Sports Minister Laura Flessel called what Hamou did to Eurosport TV’s Maly Thomas an “assault.” Cecile Duflot, a member of parliament, tweeted : “He kisses her by force, she tries to get away, he holds her by the neck and everyone… laughs #tired.”Flessel and Duflot also criticized 1988 French Open runner-up Henri Leconte and other in-studio guests who laughed at and applauded Hamou’s on-air actions. Scottie Pippen throws shade at Steph Curry: ‘He isn’t the best Warrior right now’ BSP survey: PH banks see bright horizon amid dark global recession clouds Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games BREAKING: Cop killed, 11 hurt in Misamis Oriental grenade blastcenter_img “A live assault is not funny,” Flessel wrote. “We should never let this happen, and never trivialize such acts.”Hamou, who is ranked 287th, posted a statement on Instagram on Tuesday in which he apologized to Thomas “if she feels hurt or shocked by my attitude during her interview.”He wrote, in French, that he let his “excess of enthusiasm express itself awkwardly toward Maly, who I know and sincerely respect.”Hamou added that he would offer an apology in-person if Thomas wants one.Eurosport said in a statement that it regretted what had happened.ADVERTISEMENT MOST READ France’s Maxime Hamou returns the ball to Uruguay’s Pablo Cuevas during their tennis match at the Roland Garros 2017 French Open on May 29, 2017 in Paris. / AFP PHOTO / Eric FEFERBERGPARIS — A French tennis player’s French Open credential was revoked because he grabbed a reporter and kissed her on the neck during a live TV interview at the tournament.The French Tennis Federation announced Tuesday it was punishing 21-year-old qualifier Maxime Hamou “following his inappropriate behaviour towards a female journalist” a day earlier, when he lost in the first round at Roland Garros.ADVERTISEMENT Don’t miss out on the latest news and information. Pagasa: Storm intensifies as it nears PAR Lacson: SEA Games fund put in foundation like ‘Napoles case’ Cayetano dares Lacson, Drilon to take lie-detector test: Wala akong kinita sa SEA Games BREAKING: Cop killed, 11 hurt in Misamis Oriental grenade blastlast_img read more

Katharine McPhee Donates 50000 To Hurricane Sandy Victims

first_imgWABC/NEW YORK talk-show host Geraldo Rivera hosted a live show November 12th at a The Salvation Army disaster relief site at Island Park, Long Island to raise money for Hurricane Sandy victims.Rivera was joined by the star of “SMASH” and former American Idol singer Katharine McPhee, who donated $50,000 through her McPhee Outreach charitable foundation.Stewart Rahr, the self-made pharmaceutical billionaire, called in live on the air and donated $50,000 to directly benefit Hurricane Sandy victims in the Rockaways section of Queens. Mr. Rahr is listed as #298 on the Forbes 400 according to Forbes Magazine. Rahr sold his pharmaceutical distribution company for $1.3 billion, and set aside $100 million to establish the Rahr Foundation with which he donates to many charitable causes.“I was born and raised in Queens and the devastation is just awful. I am pleased to be blessed to help some of the people who have been harmed by Hurricane Sandy and want – and need – to do more to help people,” said Stewart Rahr.“Too often, successful people forget the struggles of others, but not Stewart Rahr the philanthropist. Stewart is someone I am happy to call a friend – he is thoughtful, enormously generous, and deeply compassionate. Everyone involved in raising money for victims of Hurricane Sandy deeply appreciates the one and only Stewart Rahr,” said Geraldo Rivera.last_img read more