Qantas flight makes rare diversion for sea rescue

first_img<a href=”” target=”_blank”><img src=”;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a5c63036″ border=”0″ alt=””></a> A Qantas Boeing 767 aircraft made a rare diversion to help a sea rescue mission on Monday after pilots were asked to monitor a life-raft drifting off southern Australia. The Australian Maritime Safety Authority said it requested Qantas’ help after a search and rescue aircraft found the raft drifting 95 nautical miles (180 kilometres) off the town of Esperance early Monday morning. “We did request that Qantas help,” a spokeswoman said. “We diverted the aircraft because there was going to be a gap between when the fixed-wing (rescue) aircraft had to leave the scene and a RAAF Hercules (air force transport plane) was going to be on scene. We didn’t want to lose sight of the life-raft. “They were certainly willing to assist which was a really good thing.” Qantas said Flight 475 carrying 226 passengers from Sydney to Perth was briefly diverted to keep an eye on the life-raft, which had set off a distress beacon. “The Hercules ended up making it there before we did so we weren’t required in the end,” a Qantas spokeswoman said.Three people were later rescued from the life-raft. Source = e-Travel Blackboard: C.Flast_img read more

Logas to head Luxperience

first_imgThe high end experiential trade show has announced co-founder, Helen Logas will step in as chief executive of the annual event, replacing former CEO and co-founder, Rosemarie Sama.Effective immediately, Ms Logas will replace Ms Sama, who will no longer be part of the organisation and next year’s event.Launching in September this year, with the inaugural Luxperience held at the Overseas Passenger Terminal in Sydney, Ms Logas said the company was “excited” for its future.“The Luxperience meeting exchange 2013 will maintain the intimacy of a growing community that is committed to high quality and inspirational travel experiences,” she said. The 2013 event will run from 2-4 September, with Virgin Australia signing a major partner agreement as well as dozens of other exhibitors around the Asia-Pacific and Australia including; cruise lines, private jet operators, exclusive lodges and well-being retreats. Source = e-Travel Blackboard: N.Jlast_img read more

British Airways Twitter blunder

first_imgBritish Airways has come under fire after what has been deemed as an offensive tweet was re-posted on the airline’s official Twitter feed.Twitter user @JaeLadd sent the blasphemous text to British Airways on Saturday and received a response to his remarks from now-defunct Twitter user @GordonQiu9.British Airways then re-tweeted the offensive material, catching the attention of its 210,000 followers.The airline has launched an investigation into the matter, claiming their Twitter account was compromised.“Apologies for the last RT. We are sorry for any offence caused and are investigating how this may have happened,” British Airways tweeted after the incident received immense interest.The airline has been gaining approximately 70 followers per hour since the event, according to Digital Journal.British Airways was recently applauded by Mashable for its social media presence.Click here to see a screenshot of the offensive tweet. A profanity-filled remark was re-tweeted by British Airways over the weekend. Source = e-Travel Blackboard: P.Tlast_img read more

Brand USA launches online agent training program

first_img Source = e-Travel Blackboard: GA USA Discovery Program to be tested in UK,Ireland markets before hitting Australia.center_img A new online agent training program aimed at equipping agents in the UK and Ireland with the knowledge and tools to sell the USA was launched at this year’s International Pow Wow (IPW) in Las Vegas yesterday.The USA Discovery Program is now available online to travel agents in the UK and Ireland, providing them with the opportunity to become ‘experts’ on both popular and lesser-known USA destinations, Brand USA president and chief executive Chris Thompson said.According to Mr Thompson, the program will take a “holistic” approach to selling the USA, enabling agents to better cross-sell USA destinations and products.“[The USA Discovery Program is] bringing rich content and in depth knowledge about all these brands and all these destinations and doing it in a very engaging, fun and productive way,” he said.Initially available to UK and Ireland agents only, Mr Thompson said Brand USA plans to “refine this program and use it as a best practices model” before taking it into other markets.Australian agents will probably have to wait until the end of the year before the program hits our shores, but the very recently appointed (and past Flight Centre national marketing manager) Brand USA Australia strategic director Joe Ponte assured e-Travel Blackboard there will be a strong focus on agent relationships and training from the get go.The program, which has launched with three specialist experience modules (Big City Buzz, The Great Outdoors and Winter Sports), will utilise social media and online forums to communicate with agents about events, updates and familiarisation trips such as the Brand USA Megafam.In its first year of operation Brand USA launched into only three markets: the UK, Canada and Japan but intends to expand into another eight markets by year’s end, Australia amongst them.last_img read more

Qantas Travellator inspires autumn travel to New Zealand

first_imgTourism New Zealand has announced a joint partnership with Qantas aiming to attract travellers across the Tasman in autumn and promote shoulder season visitation.The joint venture campaign that runs through to 14 September will see paid digital, social media, Qantas owned channels and inflight entertainment promote key New Zealand regions.The campaign will also include a dynamic and immersive installation at T3 inside the Qantas Sydney Domestic Airport.The installation, titled the “Qantas Travellator” engages travellers as they walk through T3. The visually stunning installation will spotlight 10 images of New Zealand regions, while a soundtrack of native New Zealand bush sounds will play in the background.The Qantas Travellator is an interactive build shaped as a Qantas Boeing 737-800 aircraft where customers enter the livery of an aircraft and see New Zealand experiences and sounds.In the windows of the replica aircraft are unique images of New Zealand’s landscapes. These include stunning New Zealand locations such as Waiheke Island, Hobbiton™ Movie Set, Cathedral Cove, Wellington, Kerosene Creek, Rotorua, Marlborough, Queenstown, Nelson, Abel Tasman National Park and Fox Glacier.Tourism New Zealand General Manager, Australia, Tony Saunders says the campaign showcases New Zealand in a unique and immersive way.“The Qantas Travellator is an innovative way for Qantas customers to experience a slice of New Zealand and promote autumn visitation.“With the recent increase of Qantas flight capacity into New Zealand, this campaign represents a strong opportunity to drive bookings and arrivals over the autumn period.New Zealand is its most picturesque in autumn and travellers don’t need to compete with the crowds of the summer or winter high season,” Mr Saunders said.Qantas group Executive Brand, Marketing & Corporate Affairs Olivia Wirth, said the new Qantas Travellator offers our customers a three dimensional experience that inspires Trans-Tasman travel.“We are incredibly proud to partner with Tourism New Zealand to create a 360 degree experience that gives Qantas customers a unique way to see and hear New Zealand,” said Ms Wirth.“The enveloping content makes you feel as if you are truly there, which we expect will translate into more people choosing to book a Qantas flight to New Zealand for their next holiday.” Fly Qantas to New ZealandSource = Qantaslast_img read more

Malaysia Airlines is first to adopt spacebased alerting system for fl

first_imgMalaysia Airlines is first to adopt space-based alerting system for flight trackingSITAONAIR, Aireon and FlightAware today announced that Malaysia Airlines will be the first SITAONAIR airline customer to benefit from a revolutionary flight tracking partnership. Under the agreement, all Malaysia Airlines aircraft will have access to minute-by-minute, 100% global, flight tracking data, delivered by SITAONAIR’s AIRCOM® FlightTracker.This solution will enhance the existing SITAONAIR AIRCOM® FlightTracker by adding Aireon’s space-based Automatic Dependent Surveillance-Broadcast (ADS-B) data to the existing data from FlightAware’s multiple global sources, complementing active Air Navigation Service Provider (ANSP) Future Air Navigation System (FANS) activity data.By incorporating this data, Malaysia Airlines’ aircraft operations centre will receive real-time position updates of its airborne fleet globally. Aireon’s space-based ADS-B data will also resolve any existing data feed coverage gaps that remain, particularly over oceanic and remote airspace, where there is currently no surveillance. No new avionics or modifications are needed for aircraft to take advantage of this service.“Real-time global aircraft tracking has long been a goal of the aviation community,” said Captain Izham Ismail, Chief Operating Officer, Malaysia Airlines. “We are proud to be the first airline to adopt this solution using space-based ADS-B data as part of SITAONAIR’s AIRCOM® FlightTracker.”Paul Gibson, Portfolio Director, AIRCOM®, at SITAONAIR, said: “With the addition of the AireonSM data, via FlightAware, to SITAONAIR’s AIRCOM® FlightTracker, combined with our active monitoring and automated alerting capabilities, Malaysia Airlines will be at the cutting-edge of real-time flight-tracking technology. With access to up-to-the-minute reporting, Malaysia Airlines will know the location, heading, speed and altitude of all aircraft in its fleet, at all times, and be alerted of any exceptions.”In November 2016, Aireon, FlightAware and SITAONAIR announced a new partnership to deliver Aireon data via FlightAware to SITAONAIR customers. FlightAware provides a combination of global air traffic control data, aircraft datalink information and terrestrial ADS-B data through a secure streaming data feed. Once the Aireon system is operational, expected in 2018, airlines already using SITAONAIR’s AIRCOM® FlightTracker will automatically begin seeing the new Aireon data appear in their systems, without the need for costly modifications.“In addition to not requiring any new avionics or modifications to their aircraft, Malaysia Airlines will seamlessly gain real-time flight tracking ability of its fleet, even in areas where regional Air Navigation Service Providers do not have full surveillance,” said FlightAware Chief Executive Officer, Daniel Baker. “The result will be that Malaysia Airlines will have greater visibility of its aircraft’s exact location.”The Aireon service will be operational in 2018, shortly after the completion of the Iridium NEXT satellite constellation. On January 14, 2017, the first ten Iridium NEXT satellites carrying the Aireon ADS-B hosted payload were successfully launched from Vandenberg Air Force Base in California on a SpaceX Falcon 9 rocket. In total, the constellation will consist of 66 operational low-earth-orbit satellites providing global coverage. The service will also provide Air Navigation Service Providers with global aircraft surveillance capability, and is expected to help reduce fuel costs, increase safety and enable more efficient flight paths. Malaysia AirlineSource = Malaysia Airlineslast_img read more

The Islands of Tahiti receives first UNESCO World Heritage listing

first_imgThe Islands of Tahiti receives first UNESCO World Heritage listingThe Islands of Tahiti receives first UNESCO World Heritage listingJust when you think The Islands of Tahiti couldn’t possibly get any more special, that’s precisely what happens. After a long and committed campaign, the Taputapuatea marae (sacred site) on the island of Raiatea was officially recognized as a UNESCO World Heritage site earlier this month*.World Heritage Sites are those places deemed to be of special cultural or physical significance, and the Taputapuatea marae is most certainly both. An ancient sacred site where traditional ceremonies were performed, the site features hundreds of stones arranged by Polynesian ancestors – stones that are believed to hold Mana, a source of power and spiritual strength. The marae also marks the first cultural site to be recognized by UNESCO within French Polynesia.The home of the marae, Raiatea, is just a 45-minute flight from Papeete, Raiatea is the second largest economic centre of The Islands of Tahiti and an important nautical base. The island is expected to benefit from the World Heritage listing through attracting additional visitors looking for travel opportunities that offer authentic historical and cultural experiences. A destination known for its idyllic landscapes, warm and welcoming people, and a vibrant culture, Raiatea is also already a favoured destination for hikers in particular. With a rugged coastline and mountains reaching as high as 1000 metres, the island’s scenic hiking trails offer an abundance of opportunity to discover the island’s incredible ancient civilization – which now includes a site of recognized international significance.Source = Islands of Tahitilast_img read more

IHG to debut Hotel Indigo in Ho Chi Minh City

first_imgHotel Indigo Saigon The CityIHG to debut Hotel Indigo in Ho Chi Minh CityAs one of South East Asia’s fastest-growing destinations, Vietnam has seen a rise in visitors seeking authentic and truly memorable experiences. Poised to meet the needs of curious travellers, IHG®, one of the world’s leading hotel companies, has signed a management agreement with Europe Trading Investment Company Limited for Hotel Indigo Saigon The City. This is the second Hotel Indigo to be signed in Vietnam and will be the country’s first when it opens its doors in 2019.The new-build hotel will boast a central location along District 1’s Ly Tu Trong Street, just six kilometres away from the airport. Rich with historic character dating back to the French era, the hotel’s locale is one of Ho Chi Minh City’s most timeless neighbourhoods — Ba Son. The neighbourhood sits on the site of the former Ba Son Naval Shipyard — previously an arsenal compound in the city’s port — and home to a fascinating assortment of local cafes, restaurants and shops.Just as no two places are alike, each Hotel Indigo is different. Hotel Indigo Saigon The City, which has been named in homage to the city’s history, will be specially designed to reflect the unique character and stories of its surrounding neighbourhood — from thoughtful decor that lends a local touch to its 150 guest rooms and three meeting rooms. The hotel will also feature a unique street-front destination neighbourhood cafe serving Vietnamese-inspired cuisine using locally sourced ingredients. Immersed in the lively pulse of the neighbourhood, which boasts a bustling street food scene, guests will also be able to explore famed attractions just a short walk away, including the Saigon Opera House and Saigon Notre-Dame Basilica.Commenting on this landmark signing, Rajit Sukumaran, Chief Development Officer, EMEAA East, IHG, said: “Since IHG introduced Hotel Indigo to South East Asia in 2015, the hotel brand has enjoyed great success across the region. Set in one of Vietnam’s most visited cities, Ba Son’s intriguing heritage makes it the perfect next step for Hotel Indigo’s regional growth. We are confident that Hotel Indigo Saigon The City will be an ideal choice for travellers who value an authentically local experience, with the consistency of one of the world’s leading hotel groups.”The developer, Europe Trading Investment Company Limited, owns several hotels. The group has plans to expand its existing portfolio with a special focus on the lifestyle segment.Mr. Lau Duc Duy, General Director, Europe Trading Investment Company Limited said: “Ho Chi Minh City has much to offer, and we are excited to partner with IHG to tap into the strong potential that this market holds. With today’s travellers increasingly prioritising locally immersive, authentic and personally enriching experiences, Hotel Indigo will be the perfect addition to our portfolio and we know that the brand’s compelling positioning, coupled with the hotel’s excellent location, will be a big hit when it opens in 2019.”IHG currently operates three Hotel Indigo hotels across South East Asia, including Hotel Indigo Bali Seminyak Beach, which launched in 2017 as the first Hotel Indigo in a resort location. As part of IHG’s continuing efforts to expand its upscale lifestyle portfolio in the region, there are a further nine Hotel Indigo properties in the development pipeline for the next three to five years. In Vietnam, Hotel Indigo Saigon The City is just the first of several properties under the brand to be launched, with Hotel Indigo Phu Quoc Starbay to follow in 2021.Globally, IHG has 80 Hotel Indigo properties open and 83 hotels opening over the next three to five years. In Australia, IHG has signed two Hotel Indigo properties, Hotel Indigo Brisbane Fortitude Valley and Hotel Indigo Melbourne Docklands, that will open in the next couple of years.Source = InterContinental Hotels Grouplast_img read more

Aileen D Ayaquil

first_imgThis is my first time in TTF Delhi. We did a good interaction with lot of travel agencies and people, mainly they are asking for Dubai. It is very much beneficial and 75% of the business is fulfilled here already.last_img

Ministry of Railways introduces Alternate Train Accommodation Scheme called VIKALP

first_imgWith a view to provide confirmed accommodation to waitlisted passengers and also to ensure optimal utilisation of available accommodation, a scheme Alternate Train Accommodation Scheme (ATAS) called ‘VIKALP’ has been conceptualised and has been introduced from  November 1, 2015. Initially this scheme will be available only for the tickets booked through internet (E-ticket) as a pilot project for six months. More over initially this scheme would be provided on Mail / Express Trains running on two sectors only namely Delhi-Lucknow and Delhi-Jammu sectors of Northern Railway. In this scheme, wait listed passengers of a train will be given option for getting confirmed accommodation in alternate trains. Based on the feedback, this scheme will be extended to PRS counter bookings and also on other journey sectors. This is a major passenger friendly move to provide confirmed accommodation to waitlisted passengers in alternate trains.Some of the salient features of the scheme are as follows:> The Alternate Train Accommodation Scheme (ATAS) is presently being launched under the name ‘Vikalp’ on pilot basis only for the tickets booked through internet (E-ticket) on two sectors i.e. Delhi-Jammu and Delhi-Lucknow sectors. Based on the feedback it will be extended on PRS as well as on other sectors.> The scheme is presently being implemented only across Mail / Express trains of same category.> No extra charges shall be taken from passenger or any refund shall be provided for difference of fare.> The scheme is applicable to all waiting list (WL) passengers irrespective of booking quota and concession. In pilot phase the scheme will be available on few pre-designated trains in the above sectors only.> Under this scheme, waiting list passengers will give choice to opt for ATAS scheme.> ATAS opted passengers who remain fully waitlisted after charting will only be considered for allotment in the alternate train.> Fully WL passengers opted for ATAS should check PNR status after charting.> Either all passengers of a PNR or none will be transferred to alternate train in same class. The passenger can be considered for shifting to a train leaving from any station amongst the cluster of stations defined by Railways based on the convenience of the passengers to a station serving the destination station on the same analogy.> The ATAS opted passengers who have been provided accommodation in the alternate train will not figure in the waitlisted charts of their original train. A separate list of passengers transferred in alternate train will be pasted along with the CONFIRMED and WAIT LIST charts.> The passenger allotted alternate accommodation can travel in the alternate train on authority of original ticket.> Waitlisted passengers of original train shall not be allowed to board the original train if allotted alternate accommodation. If found travelling, they will be treated as travelling without ticket and charged accordingly.> Passengers once provided alternate accommodation in alternate train will be treated as normal passengers in alternate train and will be eligible for upgradation.> In rare situations, passengers who have been provided alternate accommodation might get dropped / re-allotted in alternate train due to last minute change in composition of the alternate train at the time of chart preparation. So, passengers who have been provided alternate accommodation should check PNR status also after preparation of charts of the alternate train for final status.> This information will be available on Call Centre (139), PRS Enquiry Counters, Passenger Operated Enquiry Terminals installed at stations and WEB ENQUIRY on> Passenger will also get SMS alert on their registered mobile phone number about getting confirmed alternate accommodation.> When an ATAS opted passenger opts to cancel, after he/she has been given an alternate accommodation, he/she will be treated as a CONFIRMED passenger and the cancellation rules will apply accordingly.> No refund for difference of fare between the original train and the alternate train, including Tatkal charges, if any, will be given to re-allocated passengers.> Once an ATAS passenger has been allotted alternate accommodation, journey modification will not be permitted. If required, the passenger will have to cancel the ticket and book a fresh ticket for modified journey.> When a passenger who has been allotted alternate accommodation has not performed his journey in the alternate train, he can claim for refunds by filing a TDR request.The Ministry of Railways have also provided some important information for the passengers:i. Opting for VIKALP does not mean that confirmed berth will be provided to passengers in alternate train. It is subject to train and berth availability.ii. Once confirmed in Alternate train, Cancellation charges will be as per your berth / train status in alternate train.iii. In this scheme, your boarding and terminating station might change to nearby cluster stations.iv. You can be transferred to any alternate train available within 12 hours from the scheduled departure of original train, in which you have booked.v. Please check PNR status after charting.last_img read more

Carnivals cruise port welcomes its first ship

first_imgCarnival Corporation’s newly developed cruise port, Amber Cove, located on the northern coast of the Dominican Republic, has welcomed its first ship.Carnival Victory, from the company’s Carnival Cruise Line brand, pulled into Amber Cove with nearly 3,000 guests.The Amber Cove port on the northern coast of the Dominican, serves as a gateway to the Puerto Plata region, known for its history, diverse beauty and beaches.The port’s opening marks the return of regular cruise ship visits to Puerto Plata for the first time in nearly 30 years.Overall, eight of Carnival Corporation’s 10 global brands will make calls to Amber Cove in the coming months. The official opening of the Amber Cove port will be held on November 2 with a ribbon-cutting.“While the Dominican is a beautiful island, it is also in great need, with 40% of the population living below the poverty line. We are looking forward to bringing hundreds of Fathom travellers … to work alongside people in the Dominican communities to make a significant impact in terms of education, environment and economic development,” said Carnival CEO Arnold Donald.last_img read more

PATA sign new organisational partnership with ReefWorld

first_imgThe Pacific Asia Travel Association (PATA) and the Reef-World Foundation (Reef-World) have announced a new organisational partnership, strengthening focus on Marine Tourism in the Asia Pacific Region.As part of the agreement, PATA officially endorses Reef-World and Green Fins, a management approach to promote and measure compliance to an environmental code of conduct for sustainable diving and snorkelling activities for destinations, dive operators and related ancillary products and services. PATA members will also have access to relevant information that relates specifically to diving, snorkelling and Marine Tourism.PATA CEO Mario Hardy said, “Concerns are growing about marine tourism conservation issues. We look forward to gaining insights about Reef-World’s monitoring of best practices of the diving and snorkelling tourism industry internationally through Green Fins. This partnership means that PATA members now have improved access to knowledge that can help us make a real difference, at the grassroots level, on a wide range of marine tourism issues.”“At Reef-World, we strive to ensure simple and practical guidance to environmental best practice for scuba diving and snorkelling activities is freely available to everyone, regardless of business size, location or language spoken. Through this partnership with PATA and using the Green Fins management approach, we will be able to extend the reach of Green Fins to more businesses managers and owners,” said Reef-World Operations Manager James Harvey.last_img read more

Mortgage Rates Hover Near Record Lows Still

first_img Debt crises in Europe once more left interest rates for mortgage loans near record lows.[IMAGE]Finance Web site “”””: found 30-year fixed-rate mortgages averaging 4.09 percent, down from 4.10 percent last week, alongside a 15-year loan that hit 3.28 percent this week, down from 3.32 said that 5-year and 1-year adjustable-rate mortgages (ARMs) meanwhile fell from 3.05 percent last week to 3.03 percent this week.A statement from the Web site cited “”suspect”” recent economic data and ongoing problems across the Atlantic, where European Union member states face low growth prospects and still-high [COLUMN_BREAK]sovereign debt.News out of Britain this week found that the bulwark economy slipped into a double-dip recession during the first quarter, a move that analysts attributed to steep austerity policies, as the country grapples with public debt.””Together, these are keeping both bond yields and mortgage rates at historic lows,”” added, referencing how investor interest in Treasury debt often leads interest rates to wax or wane.””Frank Nothaft””:, VP and chief economist with “”Freddie Mac””:, differed by tying still-low mortgage rates this week to anticipation of monetary policy changes from the Federal Open Market Committee.””The Fed stated that it expects economic growth to remain moderate and then pick up gradually,”” he said in a statement. “”In addition, it noted that labor market conditions have improved in recent months and it anticipates the unemployment rate will decline gradually.””The GSE uncovered 3.88 percent in interest rates for the 30-year fixed-rate mortgage, which fell from 3.90 percent last week, while the 15-year loan dipped by a few basis points to 3.12 percent, down from 3.13 percent.Freddie said that 5-year and 1-year ARMs fell to 2.85 percent and 2.74 percent, down from 2.78 percent and 2.81 percent, respectively. Mortgage Rates Hover Near Record Lows . . . Still Adjustable-Rate Mortgage Agents & Brokers Bankrate Debt Crisis European Union Federal Reserve Fixed-Rate Mortgage Freddie Mac Housing Affordability Investment Investors Lenders & Servicers Mortgage Rates Service Providers 2012-04-26 Ryan Schuette Sharecenter_img April 26, 2012 410 Views in Data, Government, Origination, Secondary Market, Servicinglast_img read more

Bay State Home Sales Down in April

first_img Home Prices Home Sales The Warren Group 2014-06-02 Tory Barringer in Daily Dose, Data, Headlines, News April sales of Massachusetts single-family homes dropped 2.3 percent compared with the same month last year, according to the latest from the Warren Group.The percentage decline represents a decrease from 3,508 last year to 3,427 in April.According to the group’s study, April is the third consecutive month in which sales decreased compared with the same month in 2013, contributing to a year-to-date decrease of 2.4 percent.Only 10,984 homes have been sold so far in 2014 versus 11,253 during the same period last year.Timothy M. Warren Jr., CEO of the Warren Group, said, “[I]t is a bit of a surprise that we are not seeing more forward momentum,” but also noted while these sales might have “closed in April … the buyers were shopping and negotiating back in February, the middle of a brutal winter,” meaning the latest figures are “not a reflection of the strength of the spring market.”As sales fell, the median price for single-family homes continued to rise, marking the 19th consecutive month it has increased statewide. As the Warren Group’s data shows, while the median price only rose 0.6 percent to $315,000 from $313,000 last April, year-to-date, prices were up 5.2 percent from $294,000 in 2013 to $309,350 this year.In contrast to home sales, April condominium sales in Massachusetts increased 7.0 percent to 1,596 from 1,493 last April.  This, according to the Warren Group, is the 10th consecutive month of increasing condo sales with a 10.5 percent gain year-to-date.The median sales price increase for condos was more impressive, posting a 10.7 percent increase to $310,000 for April compared to $280,000 a year prior. As Warren explained, “Condos are proving to be a very popular segment of the market and the high demand is driving up the prices. For April, the median price of a condo is just $5,000 below the median price of a single-family home. Ten years ago the difference was $72,000.” June 2, 2014 499 Views center_img Bay State Home Sales Down in April Sharelast_img read more

LRES Expands Sales Force to Meet Demand for AMCs

first_img In response to the housing market’s increasing demand for appraisal management companies (AMCs) and the growth of its own client base, California-based valuations firm LRES is expanding its sales division, the company announced.As part of the expansion, LRES plans to nearly double the size of its sales force.In addition, to help ensure a seamless client onboarding process, LRES has developed a new initiative: the LRES 360 Program, which involves taking a more strategic focus within the first 360 hours after a new client comes on board. During that time, the company’s sales and client relations division works heavily with its operations and management divisions to track all new appraisal orders and ensure they are processed and placed in time.The program also includes a follow-up with vendors to ensure they’re fulfilling their duties and an hourly check-in with operations to ensure all deadlines are met and orders are delivered.”Now that the mortgage market is in a healthier state, more small- to medium-sized lenders are seeking AMCs to create efficiencies within the appraisal process and maintain compliance and proper due diligence of appraisal staff and state and federal regulations,” said LRES COO Paul Abbamonto. “Our extended sales force will help deliver a smoother onboarding process to mitigate risk associated with today’s demanding regulatory environment.” Appraisals Company News LRES 2014-09-03 Tory Barringer LRES Expands Sales Force to Meet Demand for AMCs in Headlines, News, Uncategorizedcenter_img Share September 3, 2014 469 Views last_img read more

Report RBS May Pay More in FHFA Settlement

first_img in Daily Dose, Government, Headlines, News, Secondary Market Royal Bank of Scotland (RBS) may have to pay additional penalties to settle claims that it sold faulty U.S. mortgage-backed securities in the years leading up to the housing market crash, according to a report from Reuters.RBS had already set aside the equivalent of about $3 billion in U.S. dollars to cover settlement costs relating to the sale of $32 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac in a case being handled by the U.S. District Court in Connecticut. However, the conservator of the two GSEs, the Federal Housing Finance Agency (FHFA), might ask the bank to pay up to the equivalent of $7.7 billion in U.S. money to settle the claims, according to the report.A spokesperson from FHFA declined to comment on the RBS situation.In June, RBS agreed to pay $99.5 million to settle a separate FHFA suit claiming that the bank sold more than $2 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac between 2005 and 2007, the years of the “housing bubble” in the U.S.RBS and Nomura Holdings are the last two out of the 18 lenders to settle with FHFA after the agency sued the lenders in 2011 to recoup U.S. taxpayer costs following the government’s $188 billion bailout of Fannie Mae and Freddie Mac in 2008. The other 16 lenders have paid about $24 billion to settle claims, including $9.3 billion paid by Bank of America in March 2014. January 5, 2015 565 Views Sharecenter_img Report: RBS May Pay More in FHFA Settlement Fannie Mae FHFA Freddie Mac Mortgage-Backed Securities Royal Bank of Scotland Settlements 2015-01-05 Seth Welbornlast_img read more

Morgan Stanley Reports Q2 Net Revenues of 97 Billion

first_imgMorgan Stanley Reports Q2 Net Revenues of $9.7 Billion Share July 20, 2015 441 Views Equity Sales Morgan Stanley Q2 Net Income 2015-07-20 Staff Writercenter_img Net revenues for Morgan Stanley reached $9.7 billion for the second quarter ending June 30, 2015, compared with $9.9 billion in the first quarter of 2015 and $8.6 billion a year ago, according to the company’s second quarter earnings statement released Monday.Morgan Stanley noted that their revenues for the second quarter reflect robust performance in equity sales and trading, strong results in investment banking, and continued progress in fixed income and commodities sales and trading.According to the statement, net income for Morgan Stanley was $1.8 billion, or $0.85 per diluted share for the current quarter, compared with net income of $1.9 billion, or $0.92 per diluted share for the same period a year ago. The earnings for the prior year second quarter included a net discrete tax benefit of $609 million or $0.31 per diluted share, principally related to the remeasurement of reserves and related interest.“We delivered a strong quarter across each of our businesses, through client-focused execution, expense discipline and prudent risk management,” said James P. Gorman, chairman and CEO of Morgan Stanley. “We remain focused on delivering the long-term value of this franchise.”Excluding DVA, net revenues for the current quarter were $9.6 billion compared with $8.5 billion a year ago, Morgan Stanley reported. Excluding DVA and the net discrete tax benefit in the prior year quarter, net income applicable to Morgan Stanley was $1.7 billion, or $0.79 per diluted share, compared with net income of $1.2 billion, or $0.58 per diluted share in the prior year.Institutional securities reported pre-tax income from continuing operations of $1.6 billion compared with pre-tax income of $960 million in the second quarter of last year, according to the earnings statement. Net revenues for the current quarter were $5.2 billion compared with $4.2 billion a year ago. Excluding DVA, net revenues for the current quarter of $5 billion, compared with $4.2 billion a year ago.Wealth management reported pre-tax income from continuing operations of $885 million compared with $763 million in the second quarter of last year. The quarter’s pre-tax margin was 23 percent. Net revenues for the current quarter were $3.9 billion compared with $3.7 billion a year ago.Investment management reported pre-tax income from continuing operations of $220 million compared with pretax income of $209 million in the second quarter of last year. in Daily Dose, Data, Headlines, Newslast_img read more

Cant Stop Wont Stop Home Prices Continue to Climb

first_img Share in Daily Dose, Featured, Government, News Home Prices real estate 2017-01-31 Timothy McNally The burgeoning trend of growth in real estate prices seen throughout the beginning of 2016 continued to gain momentum towards the end of the year. This is verified by the most recent S&P CoreLogic Case-Shiller National Home Price NSA Index, which saw corresponding gains in its price index for November 2016.The report showed a 5.6 percent annual increase in home prices in November, up from 5.5 percent the previous month. When compared to October, November gained 0.8 percent in the National Index on a seasonally-adjusted basis, or 0.2 percent on an unadjusted basis. The 10-city composite saw a gain of 0.2 percent in November over the previous month, causing the figure to rise to 4.5 percent on an annual basis. The 20-city composite likewise experienced a 0.2 percent gain, rising from 5.1 percent the previous month to 5.3 percent in November.This data, which was released today, would suggest that the housing market has entirely recovered from the extreme volatility that was seen over the past decade or so. “With the S&P CoreLogic Case-Shiller National Home Price Index rising at about 5.5% annual rate over the last two-and-a-half years and having reached a new all-time high recently, one can argue that housing has recovered from the boom-bust cycle that began a dozen years ago,” stated David M. Blitzer, the Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.”The recovery has been supported by a few economic factors: low interest rates, falling unemployment, and consistent gains in per-capita disposable personal income. Thirty-year fixed rate mortgages dropped under 4.5% in 2011 and have only recently shown hints of rising above that level. The unemployment rate at 4.7% is close to the Fed’s full employment target. Inflation adjusted per capita personal disposable income has risen at about a 2.5% annual rate for 30 months,” stated Blitzer.Seattle, Portland, and Denver all ranked in the top three out of 20 cities in terms of year-over-year gains. Seattle grew at a rate of 10.2 percent YOY, while Portland came in second, experiencing 10.1 percent YOY growth. Denver managed to come in third with an 8.7 percent YOY gain. However, as the report notes, “Ten of 20 cities reported increases in November before seasonal adjustment; after seasonal adjustment, all 20 cities saw prices rise.”The report gives good reason to be optimistic about the health of the real estate market. Of course, upcoming economic policies are still liable to shape the future of the housing market. “The new Administration in Washington is seeking faster economic growth, increased investment in infrastructure, and changes in tax policy which could affect housing and home prices,” stated Blitzer.center_img Can’t Stop, Won’t Stop: Home Prices Continue to Climb January 31, 2017 555 Views last_img read more

Our objective with this program is to motivate re

first_img“Our objective with this program is to motivate retailers to view their SKU profile in a new light,” stated Brent Scattini, Vice President of Sales and Marketing. “By being the avocado leader with the best intel we are able to provide an unmatched level of expertise and support to help retailers offer a better value proposition to their customers across the board.”“Trees do not produce only one size fruit,” added Patrick Cortes, Senior Director of Sales. “By taking advantage of our ‘Size Minded’ program, retailers will maximize on what the tree is producing regardless of the size curve, seasonality, or growing conditions.”The “Size Minded” campaign is an advanced offering with winning solutions in both procurement and merchandising for retailers. The campaign will hit the shelves this fall with whip-smart point-of-sale materials and recipes that retailers can showcase in stores or via social media nationwide.About Mission Produce: Mission Produce owns and operates state-of-the-art avocado packing facilities in multiple global locations including California, Mexico and Peru. In addition, the company’s global distribution network includes 11 ripening and distribution centers in North America, China and Europe. Over the past 35 years, Mission has become recognized as the leader in the worldwide avocado business. You might also be interested in PRESS RELEASEThe Oxnard, Calif. based avocado leader, Mission Produce, is inspiring all retailers to work smarter, not harder in their latest campaign, “Size Minded.” The campaign is a data-driven merchandising program that offers retailers a strategic tool to develop an ever-evolving avocado category. The program will motivate retailers to grow with consumer demand in a new way and encourages them to capitalize onwhat the tree is producing by carrying a two-size bulk selection.In a recent study by Avocados From Mexico, it was discovered that “Seventy-four percent of avocado shoppers would buy more if they saw more displays around the store.” This means retailers who develop this top five produce category and offer a two-size bulk selection will attract new shoppers and increase sales velocity.“Today’s consumers are looking for avocados based on their preferred usage,” stated Denise Junqueiro, Director of Marketing. “There might be times when shoppers are looking for a small avocado as a grab and go option or to use as a topping and not have leftovers. Other times shoppers may want a large avocado for their toast or even a jumbo size option to use for a stuffed avocado or guacamole,” continued Junqueiro. “This ‘Size Minded’ campaign provides retailers with the support they need to offer shoppers different size options for all Avo-ccasions.”center_img September 11 , 2018 last_img read more

You might also be interested in

first_img You might also be interested in September 13 , 2018 The varieties forecast in this report include conventional, organic, and specialty Navel oranges (including Cara Cara and Blood orange varieties).Survey data indicated a fruit set per tree of 426, above the five-year average of 333. The average Sept. 1 diameter was 2.12 inches, below the five-year average of 2.27 inches.For the survey, a sample of 778 Navel orange groves was randomly selected proportional to county and variety bearing acreage, and 703 of the groves were utilized in this survey. Once a grove was randomly chosen and grower permission was granted, two trees were randomly selected.  The USDA has forecast California Navel orange volumes for the coming season at 80 million cartons, which would mark a 11% year-on-year rise.Of the total, 77 million cartons are estimated to be in the Central Valley.This forecast is based on the results of the 2018-19 Navel Orange Objective Measurement Survey, which was conducted from June 15 to Sept. 1.Estimated fruit set per tree, fruit diameter, trees per acre, bearing acreage, and oranges per box were used in the statistical models estimating production. California Navel season ‘one of worst in history o …last_img read more