China trade

first_imgAs one the United State’s largest trading partners, and a major consumer of Georgia agricultural products — like poultry and pecans — China is apt to play a major role in the future of food production. A group of University of Georgia students recently gained a better understanding of how the world’s second largest economy ticks and the symbiosis of the U.S. and Chinese food industry during a study abroad there. “China is such a large player in agriculture production and international trade,” said Yao-Wen Huang, a UGA professor of food science and technology and industrial food safety expert. “By taking students from both food science and ag economics, we were able to closely look at the issues surrounding trading food products across national borders. The tour focused on food safety in China and agricultural trade between the West and China. Among the stops were the U.S. Foreign Agricultural Service’s trade office in Shanghai and the Shanghai Academy of Agricultural Sciences. The UGA students also toured the Smiling Shrimp processing plant, where shrimp and crawfish are prepared for sale in Europe, and a Belgian chocolate plant that makes high-quality chocolates for Disney’s theme park in Germany. “Each field trip was designed to expose them to Chinese or international food companies with different levels of technology, products and customers,” said Glenn Ames, a professor of agricultural and applied economics in the College of Agricultural and Environmental Sciences.One of most notable field sites was the Shanghai Want Want Group, a Taiwanese-based food producer that built its business on rice crackers but now makes most of its money from highly pasteurized canned milk. China’s recent food safety scares, like the baby formula containing the chemical melamine in 2008, impacted the market for Chinese food products internationally, and changed the market in China, Ames said. “Chinese consumers are highly aware of the food safety issues the country has seen in the recent past, and consequently, they are very aware of food safety issues,” he said. These scandals changed buying patterns in the country, leading people to travel to Hong Kong to buy imported baby formula and spend $1 for an 8.3-ounce can of Want Want’s highly pasteurized milk. To understand this change in Chinese consumer behavior and how it impacts global markets, students really have to be on the ground to see the way Chinese agricultural system and society is transforming, Huang said. “Because of the fast growth in China’s economy, modern supermarket systems have been established in cities, but 80 percent of food processors in China are small- and medium-sized with traditional facilities that produce 80 percent of daily consumed food products. “There’s a big gap between modern and traditional establishments, and that has caused serious food safety issues,” he said. “Visiting the plants and markets, students sensed that the safety of food products sold in a supermarket may not be equal.” Some of the best learning experiences were gained by simply being in the bustling country. The pace of the growth and development cannot be overstated, Ames said.”Overall, I think my biggest surprise was just how large the cities already are and how much they are continuing to develop,” said David Rospond, a UGA senior pursuing a degree in housing and consumer economics in the College of Family and Consumer Sciences. “It felt like I couldn’t stand anywhere in the country without seeing at least three cranes building somewhere in the distance.” The trip allowed the UGA students to experience the intersection of modern China’s development and the traditional institutions that today’s Chinese culture is built on — experiencing traditional markets and meals, visiting historic sites and learning some basic Mandarin. “Students were able to discuss the issues regarding the food production, processing, food security and food safety, as well as market and trade practices in China,” Huang said. Ames and Huang led the study abroad to China as part of a partnership with Shanghai Ocean University and Tianjin University of Science and Technology. This was the first time this course was offered. Eight students made the journey — four graduate students and four undergraduates, studying ag economics, food science and technology, and housing and consumer economics. The group toured food production plants in Shanghai and Tianjin and the cultural sites of Beijing, as well as traditional markets and modern university campuses.last_img read more

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People’s United reports Q2 net income of $51 million, 15 cents per share

first_imgFINANCIAL HIGHLIGHTS  Dividend payout ratio106.4%104.9%172.5%230.4%352.0%  Net income51.251.732.024.116.0 Selected Statistical Data: (dollars in millions, except per share data)20112011201020102010  Return on average tangible stockholders’ equity (3)6.36.43.72.71.7  Operating earnings (2)57.353.836.727.731.8 Per Common Share Data:  Non-interest income76.674.668.168.069.7  Operating return on average assets (2), (3)0.920.870.640.500.58 Earnings Data:  Operating dividend payout ratio (2)95.1100.7150.4200.4176.7 BRIDGEPORT, Conn., July 21, 2011 /PRNewswire/ —  Net interest income$   221.2$   220.3$      189.8$   175.8$   173.8    stockholders’ equity (2), (3)7.16.74.23.13.4  Return on average assets (3)0.820.840.560.440.29  Non-interest expense (1)207.0202.8199.1186.3202.7  Dividends paid per share0.15750.15500.15500.15500.1550  Return on average stockholders’ equity (3)4.04.02.41.81.2  Common shares (end of period) (in millions)346.12345.97350.07356.73358.51  Operating return on average tangible People’s United Bank,People’s United Financial, Inc. (NASDAQ: PBCT) today announced net income of $51.2 million, or $0.15 per share, for the second quarter of 2011, compared to $16.0 million, or $0.04 per share, for the second quarter of 2010, and $51.7 million, or $0.15per share, for the first quarter of 2011. Operating earnings totaled $57.3 million for the second quarter of 2011, compared to $31.8 million for the second quarter of 2010 and $53.8 million for this year’s first quarter.  As previously reported, People’s United Financial completed its acquisition of Danvers Bancorp, Inc. on June 30, 2011, effective July 1, 2011.  Accordingly, People’s United Financial’s second quarter and six month results do not include the results of Danvers.The Company’s Board of Directors declared a $0.1575 per share quarterly dividend, payable August 15, 2011 to shareholders of record on August 1, 2011.  Based on the closing stock price on July 20, 2011, the dividend yield on People’s United Financial common stock is 4.7 percent.”Our performance this quarter continues to build on the momentum generated in the first quarter of 2011, reflecting another solid quarter of operating results, organic loan and deposit growth throughout our franchise, and encouraging overall trends in asset quality,” stated Jack Barnes, President and Chief Executive Officer.  “In fact, on an annualized basis, both loans and deposits increased 4 percent this quarter; our net interest margin remains above 4 percent; and our efficiency ratio continues to improve.”Barnes added, “In the second quarter, our originated commercial and retail loan portfolios increased $239 million, or 9 percent annualized, and $213 million, or 19 percent annualized, respectively.  We also had another quarter of meaningful deposit growth in our legacy and de novo branch network.  In addition, we successfully completed the Bank of Smithtown core system conversion and our efforts with respect to the Danversbank conversion, scheduled for early in the fourth quarter, are already well under way.”Barnes concluded, “We continue to evaluate opportunities to reduce our level of non-interest expenses and lower our efficiency ratio.  As such, earlier this month we implemented several cost-saving initiatives, which included changes in certain retirement benefit programs and the elimination of selected positions, primarily within corporate functions, non-core lending businesses and the former Bank of Smithtown.  We expect to realize annual cost savings of approximately $23 million beginning in 2012.””On an operating basis, earnings were $57 million or 17 cents per share this quarter,” said Kirk W. Walters, Senior Executive Vice President and Chief Financial Officer.  “The Company’s performance this quarter reflects an improvement in net interest income, continued positive results in our fee businesses and tighter expense control.”Walters continued, “The net interest margin increased 44 basis points in the second quarter of 2011 compared to last year’s second quarter and, as expected, declined a modest 3 basis points from the first quarter of 2011.  The decline in the net interest margin from the first quarter reflects repricing pressure within the loan portfolios, partially offset by an increase in investment income and a reduction in our cost of deposits.”Walters added, “Non-interest income this quarter continues to reflect improvement in most of our fee-based businesses as well as additional gains on sales of acquired loans, partially offset by weakness in insurance revenue and lower gains on sales of residential mortgages.  The level of quarterly operating non-interest expense continues to remain below $200 million, despite the addition of the acquisitions completed in the fourth quarter of 2010, and our efficiency ratio improved to 65.7 percent.”Walters concluded, “While the overall level of non-performing loans is reflective of a period of prolonged economic weakness, we are pleased with the improvements noted over the past few quarters.  The increase in originated non-performing loans this quarter is attributable to a single commercial real estate loan (with a remaining balance of $23 million) that was placed on non-accrual status this quarter. The decrease in the allowance for loan losses this quarter reflects a $6.0 million charge-off on this loan against a previously established specific reserve, partially offset by steps taken to increase the allowance for loan losses in light of continued strong growth in the commercial and residential mortgage loan portfolios. In addition, the decline of $74.0 million in acquired non-performing loans this quarter reflects our efforts to proactively reduce this portfolio through a variety of resolution efforts.”Loans acquired in connection with acquisitions have been recorded at fair value, including a reduction for estimated credit losses, and without carryover of the respective portfolio’s historical allowance for loan losses.  As such, selected asset quality metrics have been highlighted to distinguish between the ‘originated’ portfolio and the ‘acquired’ portfolio.At June 30, 2011, the allowance for loan losses as a percentage of originated loans was 1.15 percent and as a percentage of originated non-performing loans was 68 percent, compared to 1.19 percent and 74 percent, respectively, at March 31, 2011.For the originated portfolio, representing all loans other than those acquired, non-performing loans totaled$258.8 million at June 30, 2011, or 1.69 percent of originated loans, compared to $240.5 million and 1.62 percent, respectively, at March 31, 2011, and $219.7 million and 1.57 percent, respectively, at June 30, 2010.  Excluding the $23 million non-performing commercial real estate loan discussed above, originated non-performing loans were 1.54 percent of originated loans at June 30, 2011.Non-performing loans in the acquired portfolio, which represent the contractual balances of loans acquired that meet our definition of non-performing but for which the risk of loss has already been considered by virtue of our estimate of acquisition-date fair value and/or the existence of an FDIC loss-share agreement, totaled $250.4 million at June 30, 2011 compared to $324.4 million at March 31, 2011 and $359.8 millionat December 31, 2010.  During the second quarter, loans with a contractual balance of approximately $56 million (carrying amount of approximately $41 million) were sold at a gain of approximately $7 million.  In addition, loans with a contractual balance of approximately $64 million were reduced by virtue of full or partial payoffs.Non-performing assets (excluding acquired non-performing loans) totaled $315.4 million at June 30, 2011, up from $292.1 million at March 31, 2011 and $284.5 million at June 30, 2010.  Non-performing assets equaled 2.05 percent of originated loans, REO and repossessed assets at June 30, 2011 compared to 1.96 percent at March 31, 2011 and 2.02 percent at June 30, 2010.Second quarter net loan charge-offs totaled $15.5 million compared to $9.6 million in the first quarter of 2011.  The previously mentioned commercial real estate loan, which carried a specific reserve, accounted for $6.0 million, or 39 percent, of this quarter’s total loan charge-offs.  Net loan charge-offs as a percent of average loans on an annualized basis were 0.35 percent in the second quarter of 2011 (0.22 percent excluding the aforementioned $6.0 million loan charge-off) compared to 0.22 percent in this year’s first quarter.  The provision for loan losses in the second quarter of 2011 reflects a $4.5 million increase in the allowance for loan losses related to the growth in the commercial and residential mortgage loan portfolios.For the second quarter of 2011, the return on average assets was 0.82 percent and the return on average tangible stockholders’ equity was 6.3 percent, compared to 0.84 percent and 6.4 percent, respectively, for the first quarter of 2011 and 0.29 percent and 1.7 percent, respectively, for the second quarter of 2010.  Operating return on average assets was 0.92 percent for the second quarter of 2011, compared to 0.87 percent for the first quarter of 2011 and 0.58 percent for the second quarter of 2010.  Operating return on average tangible equity was 7.1 percent for the second quarter of 2011, compared to 6.7 percent for the first quarter of 2011 and 3.4 percent for the second quarter of 2010.  At June 30, 2011, People’s United Financial’s tangible equity ratio stood at 13.9 percent.People’s United Financial, a diversified financial services company with $28 billion in assets (pro forma with Danvers), provides commercial banking, retail and business banking, and wealth management services through a network of approximately 375 branches in Connecticut, Massachusetts, Vermont, New York, New Hampshire and Maine. Through its subsidiaries, People’s United Financial provides equipment financing, brokerage and financial advisory services, and insurance services.Conference CallOn July 21, 2011, at 5 p.m., Eastern Time, People’s United Financial will host a conference call to discuss this earnings announcement.  The call may be heard through www.peoples.com(link is external) by selecting “Investor Relations” in the “About Us” section on the home page, and then selecting “Conference Calls” in the “News and Events” section.  Additional materials relating to the call may also be accessed at People’s United Bank’s web site.  The call will be archived on the web site and available for approximately 90 days.2Q 2011 Financial HighlightsSummaryNet income totaled $51.2 million, or $0.15 per share.Operating earnings were $57.3 million, or $0.17 per share.Net interest income totaled $221.2 million.Net interest margin decreased 3 basis points from 1Q11 to 4.13%.Investment income increased $2.2 million from 1Q11.The interest cost on deposits declined 1 basis point from 1Q11 to 58 basis points.Provision for loan losses totaled $14.0 million.Net loan charge-offs totaled $15.5 million or 0.35% of average loans.Non-interest income totaled $76.6 million in 2Q11 compared to $74.6 million in 1Q11.Bank service charges increased $1.9 million in 2Q11 to $32.9 million.2Q11 and 1Q11 include $7.2 million and $5.5 million, respectively, of net gains on sales of acquired loans.Net gains on sales of residential mortgages declined $2.0 million from 1Q11.Non-interest expense totaled $207.0 million in 2Q11 compared to $202.8 million in 1Q11.Operating non-interest expense totaled $197.8 million in 2Q11 compared to $199.7 million in 1Q11.2Q11 and 1Q11 include a total of $9.2 million and $3.1 million, respectively, of merger-related expenses and one-time charges.Effective income tax rate was 33.3% in both 2Q11 and 1Q11.Commercial BankingExcluding acquired loans, commercial banking loans increased $239 million, or 9% annualized, from March 31, 2011.Average commercial banking loans totaled $12.7 billion, an increase of $227 million, or 7% annualized, from 1Q11.Non-performing commercial banking assets, excluding acquired non-performing loans, totaled$220.7 million at June 30, 2011, up from $192.2 million at March 31, 2011.A single commercial real estate loan accounted for $23.3 million of the increase.The ratio of originated non-performing commercial banking loans to originated commercial banking loans was 1.71% at June 30, 2011 compared to 1.54% at March 31, 2011.Net loan charge-offs totaled $13.2 million, or 0.42% annualized, of average commercial banking loans in 2Q11, compared to $6.8 million, or 0.22% annualized, in 1Q11.2Q11 net loan charge-offs include $6.0 million related to a single commercial real estate loan.For the originated commercial banking portfolio, the allowance for loan losses as a percentage of loans was 1.55% at June 30, 2011 compared to 1.61% at March 31, 2011.The commercial banking allowance for loan losses represented 91% of originated non-performing commercial banking loans at June 30, 2011 compared to 104% at March 31, 2011.Retail and Business BankingExcluding acquired loans, residential mortgage loans increased $187 million, or 30% annualized, from March 31, 2011.Average residential mortgage loans totaled $2.9 billion, an increase of $151 million, or 22% annualized, from 1Q11.The ratio of originated non-performing residential mortgage loans to originated residential mortgage loans was 2.47% at June 30, 2011 compared to 2.84% at March 31, 2011.Net loan charge-offs totaled $1.2 million, or 0.16% annualized, of average residential mortgage loans in 2Q11, compared to $1.6 million, or 0.23% annualized, in 1Q11.Excluding acquired loans, home equity loans increased $23 million, or 5% annualized, from March 31, 2011.Average home equity loans totaled $1.9 billion in 2Q11, unchanged from 1Q11.Net loan charge-offs totaled $0.8 million, or 0.17% annualized, of average home equity loans in 2Q11, compared to $0.8 million, or 0.16% annualized, in 1Q11.Wealth ManagementInvestment management fees and brokerage commissions both increased slightly from 1Q11.Insurance revenue decreased $1.3 million from 1Q11, primarily reflecting the seasonal nature of insurance renewals and the continued soft insurance market, and increased $0.3 million from 2Q10.Assets under administration and those under full discretionary management, neither of which are reported as assets of People’s United Financial, totaled $12.8 billion and $4.3 billion, respectively, at June 30, 2011.Certain statements contained in this release are forward-looking in nature. These include all statements about People’s United Financial’s plans, objectives, expectations and other statements that are not historical facts, and usually use words such as “expect,” “anticipate,” “believe” and similar expressions. Such statements represent management’s current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause People’s United Financial’s actual results or financial condition to differ materially from those expressed in or implied by such statements. Factors of particular importance to People’s United Financial include, but are not limited to: (1) changes in general, national or regional economic conditions; (2) changes in interest rates; (3) changes in loan default and charge-off rates; (4) changes in deposit levels; (5) changes in levels of income and expense in non-interest income and expense related activities; (6) residential mortgage and secondary market activity; (7) changes in accounting and regulatory guidance applicable to banks; (8) price levels and conditions in the public securities markets generally; (9) competition and its effect on pricing, spending, third-party relationships and revenues; (10) the successful integration of acquired companies; and (11) possible changes in regulation resulting from or relating to recently enacted financial reform legislation. People’s United Financial does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Access Information About People’s United Financial at www.peoples.com(link is external) .People’s United Financial, Inc.  Efficiency ratio (2)65.766.271.171.272.2  Tangible book value (end of period) (2)9.389.279.3010.0710.14  Provision for loan losses14.014.610.921.817.8  Stock price: June 30,March 31,Dec. 31,Sept. 30,June 30,  Weighted average diluted common shares (in millions)343.88346.01352.53354.99358.24 Three Months Ended    Close (end of period)13.4412.5814.0113.0913.50  Book value (end of period)$   15.01$   14.92$      14.91$   15.04$   15.10    Low12.5512.1712.2012.5613.49 (1) Includes a total of $9.2 million, $3.1 million, $7.0 million, $5.3 million and $23.2 million of merger-related expenses, core system conversion costs and one-time charges for the three months ended June 30, 2011, March 31, 2011, Dec. 31, 2010, Sept. 30, 2010 and June 30, 2010, respectively.(2) See non-GAAP financial measures and reconciliation to GAAP.(3) Annualized.    High13.8114.4914.1714.3516.79  Net interest margin (3)4.13%4.16%3.87%3.74%3.69%  Income before income tax expense76.877.547.935.723.0  Return on average tangible assets (3)0.890.910.610.480.32  Basic and diluted earnings per share$     0.15$     0.15$        0.09$     0.07$     0.04  Operating earnings per share (2)0.170.150.100.080.09last_img read more

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FARC Guerrilla with Alleged ETA Ties Is Arrested in Colombia

first_imgBy Dialogo April 12, 2011 The Colombian authorities have arrested Víctor Ramón Vargas Salazar, a noted member of the FARC guerrilla group and allegedly linked to the armed Basque separatist organization ETA, according to a press release issued on 8 April. The Spanish authorities had issued a red notice seeking Vargas’s arrest on account of the ties he is said to have with ETA, while he is charged in Colombia with aggravated criminal conspiracy for purposes of drug trafficking, the announcement indicated. Vargas was arrested in the town of Caucasia, department of Antioquia (in northwestern Colombia), according to the press release, which described Vargas, known by the aliases of Chato and Juancho, as a member of the support network of the FARC’s Caribbean bloc. The Revolutionary Armed Forces of Colombia (FARC, a communist group) is the country’s chief guerrilla group with forty-six years of armed struggle against the Colombian state and currently has around eight thousand fighters, according to the Army. The statement also noted that Vargas “allegedly coordinated attacks in Spain with ETA, against current (Colombian) president Juan Manuel Santos and former presidents Álvaro Uribe (2002-2010) and Andrés Pastrana (1998-2002).” In addition, it affirmed that the noted guerrilla supplied the FARC’s Caribbean bloc with weapons, ammunition, and false documents and was also responsible for coordinating the illegal exploitation of gold mines in the southern part of (the department of) Bolívar (on the Caribbean coast), an activity that brought in more than two billion pesos (one million dollars, at current exchange rates). According to the statement issued by the authorities, that money represents the second-largest source of financing for that FARC bloc. The announcement of the arrest of this noted Colombian guerrilla with alleged ETA ties took place on the eve of Monday’s start of a two-day official visit to Spain by President Santos.last_img read more

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NCUA Disagrees on RBC Legality: Onsite Coverage

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Nicholas BallasyNCUA Board Chairman Debbie Matz said she solicited 11 law firms around the nation to review the legality of establishing a two-tier risk-based net worth standard for the credit union industry.Matz said the NCUA’s authority to implement the new capital requirements in the original proposal was raised during the first comment period.“I solicited the independent legal opinion in order to perform my own due diligence. I ultimately chose the Global Banking and Payment Systems practice of Paul Hastings, based in Washington, D.C. Paul Hastings’ partners have years of experience on legal issues related to [prompt corrective action], from the perspectives of financial institutions as well as from the perspective of a federal agency,” she said at the NCUA’s monthly board meeting Thursday. continue reading »last_img read more

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Thousands of new units proposed for Brisbane has lifted the settlement risk

first_imgIF all the units proposed for the Brisbane market are built there could be increased risk that off the plan buyers can’t settle.WITH thousands of new units still proposed for the Brisbane market concerns are rising that some for settlement risk.New figures from CoreLogic which analyses whether there is a growing risk of off the plan sales not going through have revealed within the greater Brisbane area there are 14,552 units proposed to be built within the next 12 months. Within the next 24 months there are 37,788 new units proposed.CoreLogic analyst Cameron Kusher said the figures measured the potential supply during the next couple of years.He said banks would look at similar data when assessing if they will lend for units in particular areas.A number of major lenders have already revealed they will not lend to buyers of new units in some inner Brisbane suburbs unless buyers have a 20 per cent deposit.Mr Kusher said the figures highlighted the magnitude of the unit construction boom in Australia’s capital cities.“Increasingly, we will see more of the projects not actually commence, or take longer to commence,” he said.’“The average punter in the street needs to factor in that if they are going to buy a unit, there’s an awful lot out there,” he said.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North1 hour agoNew apartments released at idyllic retirement community Samford Grove Presented by “So make sure you buy something unique. And remember that it (the volume could have an impact on your property — especially if there is discounting of property values to get sales.”“We are already seeing values fall in Sydney and there’s a lot of talk about oversupply in Brisbane,” he said.Mr Kusher said existing unit owners should really research the market thoroughly if they were looking to sell.“And be realistic about the price, people know about the volume and will be negotiating harder for the sale,’’ he said.For those who don’t already own a property the potential oversupply could be a bonus, Mr Kusher said.’“With a lot of stock coming online into an already well-supplied market, you might be able to buy a property at a price that’s well below what the original purchase price was.”For those who fear they might be in a position to lose money on a purchase, Mr Kusher said the best solution would be time.“Try to hold on to it, and hopefully you have bought something that has a decent rental yield,” he said.last_img read more

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Where you can find Cairns’ million dollar land sales

first_imgThis is where you could make your fortune.On Moore St, in Cairns’ most popular beach suburb, is half a hectare of prime residential development land with an asking price of over $3,500,000. Fancy your own headland. This bit of real estate at False Cape is on the market for $5m. REAFalse Cape offers a beautiful rainforest and beach setting ideal for subdivision into acreage blocks or developed into a rainforest resort. Major earthworks have already been done. Lot 4 and part of Canopy’s Edge Estate is set aside for a retirement village and comes with a $6,000,000 price tag.The retirement village is the logical extension of the medium density housing project in one of the city’s fastest growing and bustling northern hubs.LJ Hooker Cairns Yorkeys Knob principal Susan Cooper said the development is “further supported by the demographics of the region”. “These indicate that along with the rest of Australia, the region has rapidly ageing population profile. In fact in most areas of the region, this trend is more pronounced than the national averages,” she said. EAST TRINITY SMITHFIELD Develop an aged care site at Smithfield. REA“The developer has an experienced retirement village operator which has undertaken a feasibility assessment on development of a retirement village at Canopy’s Edge. “The study was based on 193 units comprising 58 x 1 bedroom units and 135 x 2 bedroom units. The study found the concept to be financially viable at a construction cost of some $58 million, plus land and selling costs.” MANUNDA Imagine your own private tropical paradise.For a lazy $5,000,000 you can get 120ha of wilderness which comes with its own beach and views across Trinity Inlet and the Coral Sea. GOLDSBOROUGH These 81ha of land at Goldsborough could be yours. REAGoldsborough has got peace, quiet, wildlife, creeks and it’s just a short drive into Gordonvale for groceries. Also for sale in Smithfield is Lot 901 at Canopy’s Edge Estate.This unique 1.8ha parcel of land has a full development approval for 128 apartments. Smithfield is 20 minutes to Kuranda Village, 15 minutes to CBD, 10 minutes to the popular northern beaches, 15 minutes to Cairns Airport and five minutes to James Cook University. WRIGHTS CREEK Just a kilometre to the city is this 6014sq m site ready for development. Or just your dream home. It is on the market for $3,000,000. TRINITY BEACH Who wouldn’t love a block at Goldsborough?For $3,200,000 there are 81ha up for grabs which can be split into five different titles. Just under 60ha could be yours for $3,600,000. A steal!There are also 32ha with a large industrial shed.Buy both and get a discount.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days agoWrights Creek. Own a bit of land where you can catch mud crabs and barra. REABoth properties are under cane leases and the property is bordered on one side by year-round fresh and brackish creeks where you can catch mud crabs, barramundi and mangrove jack.It’s close to schools, shops and only 20 minutes to the Cairns CBDThis is the first time these properties have been put on the market. Whether you want your own beach, a slice of rainforest, farming land or the chance to become a property developer, Cairns has plenty of vacant sites ripe for the picking.The only thing is, they don’t come cheap. For $5m you could have a private beach. REAIn reality is you are only 30-40 minutes’ easy drive Cairns Airport via a modern sealed road.Build your dream home down by the beach, or build it up on the hill.Development may be possible in the future but why ruin the freshwater springs for drinking and bathing, wildflowers, tropical foliage, butterflies and utter seclusion. This is what you could develop at Moore St, Trinity Beach. REAOne of the last ocean-side development sites at Trinity Beach already has council approval for 12 x 3 bedroom apartments.All planning, development approvals, architectural drawings and plans. CAIRNS CITY Another development opportunity at Manunda. REA At 32 James St, and for just $3,000,000, this is a chance to get in on property in a big way.0.6 ha of residential land is on a level block, well above flood levels and is one of the last large blocks so close to city centre.How close? It’s only about 800m to the Esplanade. Just down the road, grab 120.6 ha of similarly pristine wilderness for $5,000,000 + GST.Located 40km from Cairns City on the peak of the headland, this development site is a rare opportunity where the rainforest meets the reef. FALSE CAPE (East Trinity) Prime inner city land on James St, Cairns. REAlast_img read more

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Dallas “Wayne” Turner

first_imgJanuary 25, 1937 – November 17, 2016Dallas “Wayne” Turner passed away at home in Milan, Indiana on November 17, 2016.  He is survived by his loving wife of 58 years, Shirley Fletcher-Turner, children:  Douglas Turner and wife Deborah, Cammy Turner, Daniel Turner, and Deanna Turner – Christensen, four grandchildren, four great-grandchildren, and two siblings.  Wayne served his country through the Army in the 101st Airborne Division.  He served his community through both the Masons and Shriner’s.  With a quick wit and hearty laugh, Wayne was an accomplished story-teller.  He loved to be surrounded by his family and pets.  His absence will be sorely felt by his family and friends.Services will be held Friday December 9, 2016 at 1pm at Hogan Hill Church with Rev. Bill Powlen officiating.  Burial will follow in the church cemetery with military rites conducted by the Versailles American Legion Post 173. Memorials may be made to the Hogan Hill Church.   Laws-Carr-Moore Funeral Home entrusted with arrangements. Box 243 Milan, Indiana 47031  (812)654-2141.  Go to www.lawscarrmoore.com to leave an online condolence message for the family.last_img read more

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Ricky Gene Dove of Dillsboro

first_imgRicky Gene Dove, 67 of Dillsboro passed away suddenly Saturday July 14 at High Point Health.  Ricky was born Saturday August 19, 1950 in Cincinnati the son of Orville and Jean (Heidt) Dove.  He married Patricia A. (Suttmann) Dove June 22, 1974, who survives.  He was a retired Postal Service employee.  He served his country for 4 years in the US Air Force.   Ricky was a member of the DAV and the Dillsboro Civic Club.  He also was very active in the Dillsboro community.  He had previously helped with the Special Olympics and had served on the Green Township (Mack) Fire Dept.  He liked woodworking, fishing, reading, and giving those grandkids tractor rides.Ricky is survived by wife, Patricia, daughters Jennifer (Jason) Shultz of Moores Hill; Kimberly (Chris) Pelfrey of Dayton; Julie (Michael) Downey of Maineville, Ohio; brothers Orville, Allen, Terry and Ronnie (Lisa) Dove; grandchildren Connor Sexton, Hannah and Hudson Downey and Zillah Pelfrey, and a host of friends.  He was preceded in death by a sister Tammy Dove and his parents.Graveside services will be held at 1PM Thursday at Oakdale Cemetery at Dillsboro with the American Legion Chaplain officiating.  Full military rites will be provided by the Northcutt Laaker American Legion Post #292 of Dillsboro.  Visitation will be 11-12:45PM at Filter-DeVries-Moore Funeral Home at Dillsboro.  Memorials may be made to the donors choice.  Filter-DeVries Moore Funeral Home entrusted with arrangements, 12887 Lenover St, Box 146, (812)432-5480, Dillsboro, Indiana 47018.  Go to filterdevriesmoorefuneralhome to leave an online condolence message for the family.last_img read more

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Thornton races to Boone Frostbuster checkers

first_imgBOONE, Iowa (April 9) – Ricky Thornton Jr. showed the Midwest what he’d done all winter out West.The Chandler, Ariz., hotshoe scored the $1,000 payday in Boone Speedway’s season-opening Frostbuster event for Xtreme Motor Sports IMCA Modifieds.Nick Roberts and Jimmy Gustin split time at the front in the early stages of the 25-lap Fast Shafts All-star Invitational ballot qualifier while Thornton worked through traffic from a sixth row start.Thornton settled into fourth by the time caution slowed action on lap six. He raced the top side past Gustin for the lead on the 10th circuit while Mike Van Genderen mounted a charge running the high groove.As Thornton built a sizable advantage, Van Genderen shot past Gustin in the waning laps and chased down the leader.Thornton denied Van Genderen’s challenges to seal the win, his sanctioned 10th already this season. Gustin ran third. Kyle Strickler came from 16th starting to finish fourth.Jay Schmidt raced the low groove to victory in the 20-lapper for IMCA Sunoco Stock Cars.Norman Chesmore held the early lead as Schmidt worked into contention after starting ninth. He settled into second on lap seven and then made his way around Chesmore in traffic to take the lead on the next circuit.Despite heavy traffic late, Schmidt drove to victory ahead of Trent Murphy and Chesmore in a race that ran green to checkers.Jake McBirnie ran in the top five for the entire 20-lap distance of the Karl Chevrolet Northern SportMod feature. The only time he led was upon exiting turn four on the final lap.McBirnie surged past race-long leader Doug Smith on the low side to steal the victory.  Brandon Spanjer ran third.Shannon Anderson made it look easy early and then held on late for the win in the IMCA Sunoco Hobby Stock main.From a second row start, Anderson slipped beneath John Watson on lap three to take the lead and quickly pulled away from the pack.A pair of late cautions bunched the field, but Anderson held on to take the win ahead of John Watson and Solomon Bennett.More than 120 cars were in the pits for the third of four Frostbusters.Feature Results Modifieds – 1. Ricky Thornton Jr., Chandler, Ariz.; 2. Mike Van Genderen, Newton; 3. Jimmy Gustin, Marshalltown; 4. Kyle Strickler, Mooresville, N.C.; 5. Kyle Brown, State Center; 6. Russ Dickerson, Boone; 7. Joel Bushore, Boone; 8. Scott Hogan, Vinton; 9. Dennis Pittman, Jamaica; 10. David Brown, Kellogg; 11. Coty Albers, Wellsburg; 12. Tim Ward, Gilbert, Ariz.; 13. Chris Webb, McCallsburg; 14. Joel Rust, Grundy Center; 15. Gatlin Leytham, Ames; 16. T.J. Smith, Menasha, Wis.; 17. Nick Roberts, Des Moines; 18. Mitch Morris, Blue Grass; 19. Scott Davis, Boone; 20. Josh Gilman, Earlham; 21. Brandon Brinton, Nevada; 22. Scott Simatovich, State Center; 23. Mike Mueller, Rosendale, Wis.; 24. Matt Meinecke, Woodward.Stock Cars – 1. Jay Schmidt, Tama; 2. Trent Murphy, Jefferson; 3. Norman Chesmore, Rowley; 4. Donavon Smith, Lake City; 5. Adam Klocke, Carroll; 6. Damon Murty, Chelsea; 7. Todd Inman, Runnells; 8. Tyler Pickett, Boxholm; 9. Wayne Gifford, Boone; 10. Craig Carlson, Madrid; 11. Rod Richards, Madrid; 12. Andrew Knode, Adel; 13. Ben Walding, Des Moines; 14. Matt West, Kellerton; 15. Randy Casner, Osceola; 16. Chase Parker, Hortonville, Wis.; 17. Brad Dutton, Des Moines; 18. Jeremy Kinsley, Aurora, Neb.; 19. Charles Belew, Granger; 20. Kevin Balmer, Garwin; 21. Tyler Brauckman, Carroll; 22. Norman Belew, Granger; 23. Joel Tigges, Carroll; 24. Keith Simmons, St. Charles; 25. Cody Frerichs, Howard Lake, Minn.; 26. Howard Norris, Grimes; 27. Lonnie Hodges, Boone.Northern SportMods – 1. Jake McBirnie, Boone; 2. Doug Smith, Lake City; 3. Brandon Spanjer, Crete, Neb.; 4. Robert Moore, Maxwell; 5. Randy Roberts, Boone; 6. Adam Armstrong, Beatrice, Neb.; 7. Cory Rose, Boone; 8. Brandon Williams, Boone; 9. Clint Luellen, Minburn; 10. Andy Tiernan, Woodward; 11. Dusty Masolini, Des Moines; 12. Taylor Musselman, Norwalk; 13. Chase Rudolf, Norwalk; 14. Johnathon Logue, Boone; 15. Chad Ryerson, Wellsburg; 16. Ryan King, Montour; 17. Rocky Caudle, Ellsworth; 18. Austin Luellen, Minburn; 19. Shawn Cooney, Des Moines; 20. Cory Pestotnik, Boone; 21. Brian Efkamp, Ankeny; 22. J.J. Andersen, Pulaski, Wis.; 23. Thor Anderson, Doon; 24. Zach McKinnon, Hatley, Wis.Hobby Stocks – 1. Shannon Anderson, Des Moines; 2. John Watson, Des Moines; 3. Solomon Bennett, Perry; 4. Justin Wacha, Vinton; 5. Eric Stanton, Carlisle; 6. Tyson Overton, Carlisle; 7. Dustin Lynch, Boone; 8. Clint Nelson, Baxter; 9. Leah Wroten, Independence; 10. Dustin Graham, Boone; 11. Jordan Peters, Ankeny; 12. Chad LeGere, Ankeny; 13. Tim Barber, Story City; 14. Shane Butler, Scranton; 15. Brandon Pitts, Ames; 16. Ryan Wells, Runnells; 17. David Simpson, Ankeny; 18. David Rieks, Eldora; 19. Kevin Derry, Madrid; 20. Cody Gustoff, Scranton; 21. Aaron Rudolph, Grand Junction; 22. Zach Swanson, Waterloo; 23. Randy Byerly, Tipton; 24. Greg Gilbert, Osceola.last_img read more

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