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It could be that the Forbes list of the richest in the world is on the top of Kushner’s desk and others are working the phones. When payments are due in the billion dollar range comes due within months, panic sets in when there are no prospects to meet that demand.
Some of these foreign trips made by Kushner have dual purposes such that they are labeled and envoys where they are contrary to State Department diplomatic operations and Secretary of State Tillerson is working to terminate on the fly envoys that are not coordinated with the agency’s personnel.
‘Jared Kushner, Donald Trump’s son-in-law and top adviser, wakes up each morning to a growing problem that will not go away. His family’s real estate business, Kushner Cos., owes hundreds of millions of dollars on a 41-story office building on Fifth Avenue. It has failed to secure foreign investors, despite an extensive search, and its resources are more limited than generally understood. As a result, the company faces significant challenges.
Over the past two years, executives and family members have sought substantial overseas investment from previously undisclosed places: South Korea’s sovereign-wealth fund, France’s richest man, Israeli banks and insurance companies, and exploratory talks with a Saudi developer, according to former and current executives. These were in addition to previously reported attempts to raise money in China and Qatar.
Jared Kushner
Photographer: Andrew Harrer / Bloomberg via Getty Images
The family, once one of the largest landlords on the East Coast, sold thousands of apartments to finance its purchase of the tower in 2007 and has borrowed extensively for other purchases. They are walking away from a Brooklyn hotel once considered central to their plans for an office hub. From other properties, they are extracting cash, including tens of millions in borrowed funds from the recently acquired former New York Times building. What’s more, their partner in the Fifth Avenue building, Vornado Realty Trust, headed by Steve Roth, has stood aside, allowing the Kushners to pursue financing on their own.
Kushner Cos. says it will prevail. Laurent Morali, the president, said the company has a variety of contingency plans for the building and its broader portfolio will allow it to sustain any setback. He said he is encouraged by the interest of several potential investors, but declined to name them.
“Reports that portray it as a distressed situation are just not accurate for the building or for the company,” Morali said in an interview on the 15th floor of the building, 666 Fifth Avenue.
But there are challenges all around. The mortgage on their tower is due in 18 months. This has led to concerns that Kushner could use—or has perhaps already used—his official position to prop up the family business despite having divested to close relatives his ownership in many projects to conform with government ethics requirements. Federal investigators are examining Kushner’s finances and business dealings, along with those of other Trump associates, as they probe possible collusion between the Kremlin and the Trump campaign. Kushner has already testified twice before closed congressional committees and denies mixing family business with his official role.
This article, which describes new details of the company’s troubled finances and its overseas fundraising efforts, is based on a review of thousands of pages of financial documents and interviews with more than two dozen executives, business partners, real estate agents, deal participants and analysts. They spoke on condition of anonymity to discuss private deals. Some feared legal reprisals or other retaliation from one of the country’s most powerful families.
The portrait that emerges is that of a real estate company established by a pair of penniless Holocaust survivors, its extraordinary expansion by their children, the rise of a grandson to a top White House role and a big bet that has complicated its financial future.
It was 2006—the height of the real-estate market boom—when Kushner Cos. agreed to buy 666 Fifth Avenue for $1.8 billion, then a record for a Manhattan building. All of it was borrowed except for $50 million. The company still holds half of a $1.2 billion mortgage, on which it hasn’t paid a cent. The full amount is due in February 2019.
The strain has become increasingly evident across their holdings. One person familiar with the company’s finances describes the tower, with its low ceilings and outdated floor plan, as the Jenga puzzle piece that could set the empire teetering.
Continue the long read here with graphics to understand the names, the travels, this history and why Robert Mueller is investigating some of the connective tissue going beyond the Russian bank(s) and where some criminal activity is being investigated.’
HuffPo: “If colleges cannot address current events in an intellectually rigorous manner then what are they good for?”
Mary K. Coffey, Dartmouth College’s Art History department chair, asks a valid question — and one that her school’s students, faculty and administration plan to answer.
Dartmouth is set to offer a course titled “10 Weeks, 10 Professors: #BlackLivesMatter,” centered around racial inequality and violence in America.
‘The Dartmouth’ student newspaper reports that professors across more than 10 academic disciplines, from the humanities to geography to mathematics, will come together for an interdisciplinary approach to modern and historic perspectives of America’s racial climate.
According to Dartmouth geography professor Abigail Neely, the course was originally born from a Dartmouth Center for the Advancement of Learning workshop that encouraged discussion of events that took place in Ferguson, Missouri following the fatal police shooting of Michael Brown.
“The course has the potential to be revolutionary insofar as the students who take it will come away with a wide ranging critical framework for thinking through not only what happened in Ferguson (and elsewhere), but also why we continue to see so much violence perpetrated against poor people of color,” Coffey told The Huffington Post. “Having the ability to address the why question will make these students capable of thinking about change, alternatives, or forms of activism that might have a revolutionary impact.”
The creative curricular development comes on the heels of recent on-campus student activism and Dartmouth community protest, and in cooperation with members of faculty and administration dedicated to addressing student concerns.
“It reflects faculty support for student activism over the past several years around issues of inclusion, social justice, and campus climate,” professor Coffey explains. “Those students took risks to raise these issues on campus. Their work has generated interest in these issues within the student body. And it has given faculty who are dedicated to these concerns a new sense of purpose and motivation.”
The course is scheduled to begin during the university’s upcoming spring term.
The course will engage the multiple lenses through which Ferguson, the Black Lives Matter movement, and racial justice in the United States might be explored, including: policing and criminal justice, comparative inquiry regarding race and identity, theories of social movements, education reform, healthcare and medicine, environmental justice, literature and artistic expression, law and legal reform, statistical data analysis, and much more.
SAN DIEGO (AP) — San Diego State University plans to offer a course called “Black Minds Matter: A Focus on Black Boys and Men in Education,” that was inspired in part by the Black Lives Matter movement.
The weekly course will be open to the public for enrollment in October and will feature various speakers who will talk about how black men are undervalued in the classroom.
SDSU professor J. Luke Wood, who helped create the online course, said it will connect themes from the Black Lives Matter movement to issues facing blacks in educational settings.
“The Black Lives Matter movement has shed light on two invariable facts. First, that black boys and men are criminalized in society and second that their lives are undervalued by those who are sworn to protect them,” Wood said in a video introducing the class.
The upcoming course has drawn criticism.
Craig DeLuz, a gun rights advocate with the Sacramento-based Firearms Policy Coalition, said a public university should not be offering a course that includes speakers from a movement whose members have been accused of inciting violence.
“The biggest concern is they are offering a course based on the Black Lives Matter movement which has promoted violence and segregation and has really little to do with education, let alone presenting a positive image of education,” DeLuz said.
DeLuz, a member of Robla Elementary School District board of trustees, is organizing a group that plans to ask SDSU to cancel the course. They have not contacted the university yet, he said.
SDSU said in a statement that the “Black Minds Matter” course “has a racial justice focus, directly aligned with the mission of the joint doctoral program in Education. This program focuses on social justice, democratic schooling, and equity, as well as the research of the faculty who teach in it.”
A number of US colleges, including New York University, University of Washington and the University of Miami, now offer courses that include discussion of the Black Lives Matter movement.
On March 7, 2017, CBO issued estimates that extraordinary measures could suffice to meet federal obligations until sometime in the fall of 2017.141 Such estimates are subject to substantial uncertainty due to changes in economic conditions, federal revenue flows, changes in the amounts and timing of federal payments, and other factors. On March 8, 2017, Treasury Secretary Mnuchin notified Congress that he would invoke authorities to use extraordinary measures after March 15, 2017, to ensure continued payment of federal obligations.142 On March 16, 2017, Secretary Mnuchin notified congressional leaders that he had indeed exercised those authorities.143 The debt limit on that date was reset at $19,809 billion.144
In testimony before Congress on May 24, 2017, Administration officials urged Congress to raise the debt limit before its summer recess.145 Office of Management and Budget (OMB) Director Mick Mulvaney stated that the federal receipts were coming in more slowly than projected, which could imply that Treasury’s capacity to meet federal obligations could be exhausted sooner than previously projected.146 A Goldman Sachs analysis found, however, that some major categories of tax receipts had shown stronger growth.147
On June 28, 2017, Treasury Secretary Mnuchin sent a letter to Congress stating that extraordinary measures would be used until September 29, 2017.148 Secretary Mnuchin’s letter did not state that Treasury’s cash reserves or borrowing capacity would be exhausted on that date, but he did describe the need for legislative action by that date as “critical.” Others have estimated that the U.S. Treasury would likely be able to meet federal obligations until sometime in early October 2017.149 Treasury cash balances and borrowing capacity in mid-September, however, are projected to fall well below levels the U.S. Treasury has considered prudent to maintain operations in the face of significant adverse events.150
The Constitution grants Congress the power to borrow money on the credit of the United States—one part of its power of the purse—and thus mandates that Congress exercise control over federal debt. Control of debt policy has at times provided Congress with a means of raising concerns regarding fiscal policies. Debates over federal fiscal policy have been especially animated in recent years. The accumulation of federal debt accelerated in the wake of the 2007-2008 financial crisis and subsequent recession. Rising debt levels, along with continued differences in views of fiscal policy, led to a series of contentious debt limit episodes in recent years.
The 2011 debt limit episode was resolved on August 2, 2011, when President Obama signed the Budget Control Act of 2011 (BCA; S. 365; P.L. 112-25). The BCA included provisions aimed at deficit reduction and allowing the debt limit to rise in three stages, the latter two subject to congressional disapproval. Once the BCA was enacted, a presidential certification triggered a $400 billion increase. A second certification led to a $500 billion increase on September 22, 2011, and a third, $1,200 billion increase took place on January 28, 2012.
Federal debt again reached its limit on December 31, 2012. Extraordinary measures were again used to allow payment of government obligations until February 4, 2013, when H.R. 325, which suspended the debt limit until May 19, 2013, was signed into law (P.L. 113-3). On that date, extraordinary measures were reset, which would have lasted until October 17, 2013, according to Treasury estimates issued in late September 2013. On October 16, 2013, enactment of a continuing resolution (H.R. 2775; P.L. 113-46) resolved a funding lapse and suspended the debt limit through February 7, 2014. On February 15, 2014, a measure to suspend the debt limit (S. 540; P.L. 113-83) through March 15, 2015, was enacted. Once that debt limit suspension lapsed after March 15, 2015, the limit was reset at $18.1 trillion. On October 15, 2015, Treasury Secretary Jacob Lew stated that extraordinary measures would be exhausted no later than November 3, 2015, although a relatively small cash reserve would be on hand. Lower tax receipts and higher trust fund inflows, however, reduced Treasury’s headroom more than had been expected. The Bipartisan Budget Act of 2015 (BBA2015; H.R. 1314; P.L. 114-74), which relaxed certain discretionary spending limits, suspended the debt limit through March 15, 2017.
On March 16, 2017, the debt limit was reset at $19,809 billion and Treasury Secretary Steven Mnuchin notified Congress that he had invoked authorities to use extraordinary measures. CBO estimated that those measures could meet federal obligations until sometime in the fall of 2017, although in May 2017, Administration officials said slower than expected growth in revenues could require earlier action. Some independent analysts still expect that the U.S. Treasury could meet federal obligations until sometime in early October 2017. On June 28, 2017, Treasury Secretary Mnuchin notified Congress that extraordinary measures would be used until September 29, 2017, and urged action before that date.
Total federal debt increases when the government sells debt to the public to finance budget deficits, which adds to debt held by the public, or when the federal government issues debt to certain government accounts, such as the Social Security, Medicare, and Transportation trust funds, in exchange for their reported surpluses—which adds to debt held by government accounts; or when new federal loans outpace loan repayments. The sum of debt held by the public and debt held by government accounts is the total federal debt. Surpluses reduce debt held by the public, while deficits raise it. This report will be updated as events warrant.
In the video two jihadists can be heard speaking Spanish with an Arabic accent and proclaiming: “Allah willing, Al Andalus will become once again what it was, part of the caliphate.” Al Andalus was the name given to the territory of southern and central Spain controlled for more than five centuries by Muslims.
“If you can’t make the hegira (journey or exodus) to the Islamic State, carry out jihad where you are; jihad doesn’t have borders,” says one of the men in the video whose face is uncovered and who is identified by a video title as Abu Lais Al Qurdubi, or Abu Lais “of Cordoba,” the southern Spanish city that was the capital of Al Andalus.
Later, the jihadist adds: “Spanish Christians: don’t forget the Muslim blood spilled during the Spanish inquisition. We will take revenge for your massacre, the one you are carrying out now against the Islamic State.”
His mother Tomasa Pérez, from a Catholic family in Malaga, met Ahram in 1984. In 2014, she left Spain with her six children, including Muhammad, the oldest sibling, to go to Syria and live in territory controlled by the Islamic State.
The name of the other participant in the video is given as Abu Salman Al Andalus (Abu Salman ‘of Andalusia). His face is covered and only his eyes can be seen. He has a rifle on his shoulder.
“We hope that Allah accepts the sacrifice of our brothers in Barcelona. Our war with you will continue until the world ends,” he says.
The jihadist group ISIS declared a worldwide caliphate in 2014 with ISIS leader Abu Bakr al-Baghdadi named as the caliph, or leader of all Muslims worldwide. However, this declaration has been rejected by mainstream Muslims while ISIS has been designated a terrorist organization by the United Nations and many individual countries.
Spanish authorities shared information with Belgium more than a year ago about the alleged cell leader in last week’s Spain attacks, but didn’t have any details at the time to indicate he was dangerous, officials said Thursday.
Abdelbaki Es Satty, an imam who is blamed for recruiting young Muslims in a Catalan town to commit attacks in Barcelona, had served a four-year prison term for drug trafficking in 2012 and had been questioned as early as 2006 in a national police operation against jihadism.
But the Catalan police officer who answered an informal request of information from Belgium in early 2016 didn’t have the complete records on Es Satty, according to the remarks by high ranking police and government officials in Catalonia and interviews conducted by The Associated Press.
The chief of the Interior department in the Catalan regional government, Joaquim Forn, acknowledged Thursday that Belgian police in Vilvoorde made an informal request for information on the imam in 2016, when Es Satty spent three months in the city known for Islamic State group recruiting.
Forn said police gave their Belgian counterparts what they had but at no point had anyone told them Es Satty had been investigated or was dangerous. The exchange was described by another Catalan official, who spoke on condition of anonymity to discuss an informal conversation between two police officers.
Es Satty was one of two suspects that died in a blast at a house in Alcanar on Aug. 16 which disrupted the cell’s plan to set off bombs at high-profile targets in Barcelona.
Following the explosion, other members of the cell carried out attacks with vehicles and knives as weapons on Aug. 17-18 that left 15 dead and more than 120 injured.
Police confirmed on Thursday the identity of the second body found in the house used as an explosives workshop as that of Youssef Aalla. One suspect survived the blast and has been jailed.
A National Court judge also released Salh El Karib, one of the four suspects arrested in the wake of the attacks, because of a lack of evidence that the cybercafe worker was part of the plot.
El Karib lived in Ripoll, the town where the extremist cell was allegedly formed. He used his credit card to purchase plane tickets for another suspect in the case, according to court documents released Thursday. He was reimbursed in cash and was paid an additional 5 euros ($6), the documents said.
The judge saw insufficient evidence to keep him in police custody and ordered his release requiring him to stay in Spain and show up in court once a week while the investigation is open.
Judge Fernando Andreu also freed under similar restrictions another of the suspects Tuesday, once again for lacking proof of his involvement, and sent to jail the other two people arrested after hearing their testimony.
Eight more people connected to the attacks are dead, six of them shot by police.
While the investigation continues and expands beyond Spain’s borders, new revelations on Thursday raised questions about the level of coordination and intelligence sharing between different security forces and departments in Spain.
Both Civil Guard and National Police in Spain are formally in charge of counterterrorism work and have accumulated experience after decades of fighting Basque militants and religious extremism, but Catalonia’s Mossos d’Esquadra regional force has led the response and initial investigation into last week’s attacks in their operational area.
Catalonia, the northeastern region where separatist sentiment runs high, is currently ruled by a coalition of parties that are openly seeking the region’s independence from Spain.
The regional government has bowed to push ahead with a referendum on the issue on Oct. 1 despite the vote being unconstitutional under Spanish laws.
The Mossos’ work has so far won widespread praise, especially in Catalonia. Although the central government and the national law enforcement agencies have publicly acknowledged the Mossos’ success, some officers’ unions have publicly complained about how being excluded from the response and investigation led to missing valuable input.
An officer who leads an independent group of police agents who spoke to The Associated Press on condition of anonymity said that Civil Guard’s experts on explosives would have been key to assess what the cell was doing when their bomb workshop exploded.
Two of the main unions, the Civil Guard’s AUGC and National Police’s SUP, went even further earlier this week by openly criticizing authorities in a joint statement and saying that the decision to sideline them was aimed at “transmitting an image overseas of a ‘self-sufficient’ Catalan state.”
The events highlight “a deficient functioning of communication” between police forces because authorities in Catalonia didn’t have information on a 2007 National Police investigation into a jihadi cell where Es Satty’s name had appeared, their statement says.
“It is evident that if somebody would have alerted us, we would have acted in a different way,” Forns told reporters on Thursday in response to criticism.
Also this week, justice officials revealed that the imam had won an appeal for showing good behavior against an expulsion order handed down in 2015, right after he served time in prison for drug trafficking.
The Valencia local court upheld Es Satty’s appeal because he had found a job and showed determination to re-integrate into society. More here.
Children of all grades are being dropped off by parents, are walking in groups to school or you can find them at bus stops where a parent keeps a watchful eye until that big yellow thing on wheels shows up.
Another year of Federally managed education where school choice is a fragmented option in systems across the country while other counties are teaching CommonCore or International Baccalaureate. Other schools have failing systems with regard to meeting grade standards yet still other locations are just financially broke due to teacher unions like the Illinois system. The debate continues on homeschooling, charter schools, parochial systems, private systems of religious/church bases education centers, as to which is best for independent students and choices.
Try this video to grab your attention:
Visiting the Federal government website for education we see this:
Overview and Mission Statement
ED’s mission is to promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access.
ED was created in 1980 by combining offices from several federal agencies. ED’s 4,400 employees and $68 billion budget are dedicated to:
Establishing policies on federal financial aid for education, and distributing as well as monitoring those funds.
Collecting data on America’s schools and disseminating research.
Focusing national attention on key educational issues.
Prohibiting discrimination and ensuring equal access to education.
Government agencies are assigned an inspector general to audit those departments for compliance. There is no recent report from the IG except one in 2014 that reviewed financial matters, data compliance and accounting systems.
While performing financial audits is laudable, reviews must be performed on the educators themselves, the student performance and reviews of textbooks and the syllabus. Exactly who is teaching your child or grandchild, what are they teaching and how is it taught?
How many foreign students are in your local system that require countless accommodations including translators? How is the affecting pace and subject delivery?
The chatter regarding education seems to circle around the notion of ‘school choice’ but what is the definition of that term? What is the menu of choices and does that menu have any valuable affect on the students’ quality of education?
Open house is a new school year event where parents or guardians meet the teachers, walk the halls of the building for orientation and talk about the plans for the school year. Sounds wonderful unless tangible answers and compliance are realized. Oh yeah, there are all kinds of fees that need to be paid for ridiculous items including parking, school supply funds, meal tickets, technology usage, medical supplies and library systems to mention a few.
What about school safety and access to non-school related visitors? What about after school activities and class size? Is there really a teacher with certification heading the class or is there some intern or teaching assistant?
Parents and students are in a permission society when it comes to education, meaning can my student participate in an advanced curriculum or is there additional help for reading or algebra?
Schools across the country have been adapting to social pressures rather than just structure and teaching.
Pew Research posted an academic fact sheet in February of 2017 showing in part the following:
One of the biggest cross-national tests is the Programme for International Student Assessment (PISA), which every three years measures reading ability, math and science literacy and other key skills among 15-year-olds in dozens of developed and developing countries. The most recent PISA results, from 2015, placed the U.S. an unimpressive 38th out of 71 countries in math and 24th in science. Among the 35 members of the Organization for Economic Cooperation and Development, which sponsors the PISA initiative, the U.S. ranked 30th in math and 19th in science. Go here for more details.
Quality academics in all grades requires attention by parents and guardians and for that matter all property taxpayers. It is the single most important investment in the future of this great nation and cannot be hijacked by special interest groups, unions or local politicians.
Have you volunteered at the local school? Have you asked the right questions? Do you even know the principal’s name?
