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This story was published in Frank's Report. Frank Parlato is an investigative journalist. Frank Report is one of the internet’s best destinations for true, unfiltered, hard-hitting journalism run by the acclaimed journalist Frank Parlato.---- Ghislaine Maxwell – Silver Spoons and Hard TimesAugust 9, 2020By Paul Serran https://frankreport.com/2020/08/09/ghislaine-maxwell-silver-spoons-and-hard-times/ http://archive.is/by7md Ghislaine Maxwell led much of her life under the world’s fascinated microscopic view, always enthralled by her – famous and infamous – as it watched her fortunes wax and wane. From the celebrated miracle daughter of media tycoon Robert Maxwell; to the broken young woman who fled scandal in the UK to a small New York apartment, trying to launch a new life; the rebirth Jet-set Ghislaine, who was everywhere at once, longtime companion of Jeffrey Epstein, a man even richer and more shady than her father; the sophisticated middle age woman, a runaway alleged criminal trying hard to avoid detection by her pursuers – finally, to the incarcerated, indicted suspected sex trafficker and perjurer. Ghislaine was Robert and Betty Maxwell’s miracle baby, born on Christmas Day, 1961. Two days after that, their eldest son suffered a fatal car accident. In 24 hours, it all had been somehow foretold: joy – and then tragedy. During the Swinging Sixties, Robert Maxwell served two terms as a Labour Member of Parliament (MP) for Buckingham. He led a multimillionaire lifestyle, and was the host of star-studded parties at Headington Hill Hall, his baronial fifty-three-room Oxford mansion. The Maxwells spent a million dollars redecorating the mansion. In a stained glass window scene for the imperial staircase, Israeli sculptor Nehemia Azaz depicted Robert Maxwell as the biblical hero Samson tearing down the gates of Gaza: “a titan of luck, impossible achievement, and unlimited wealth”. They had the use of chauffeured luxury cars. They traveled the world in Robert’s Gulfstream IV Jet and his sleek 180-foot yacht, named Lady Ghislaine. “If Bob Maxwell didn’t exist, no one could invent him,” Labour Party leader Neil Kinnock celebrated the bombastic, demanding mogul who dined with kings and presidents and had a bottomless appetite for family, food, fortune, and fame. The first brush with financial and professional hardship came at a age when young Ghislaine would have been mostly sheltered from it. In the early seventies, after Robert Maxwell tried similar shenanigans in a failed attempt to swindle the American financier Saul Steinberg, who was interested in a strategic acquisition of Pergamon Press. Steinberg claimed that during negotiations, Maxwell falsely stated that a subsidiary responsible for publishing encyclopedias was extremely profitable. At the same time, Pergamon had been forced to reduce its profit forecasts for 1969 during the period of negotiations, leading to a suspension of dealing in Pergamon shares on the London stock markets. It was found that Maxwell had contrived to maximize Pergamon’s share price through transactions between his private family companies. This was a criminal practice he would utilize again in the future. Inspectors from Britain’s Department of Trade and Industry declared Maxwell unfit to run a public company: “Notwithstanding Mr. Maxwell’s acknowledged abilities and energy, he is not in our opinion a person who can be relied on to exercise proper stewardship of a publicly quoted company.” ‘Captain Bob’ established the Maxwell Foundation in tax haven Liechtenstein, in 1970. By the 1980s he come back roaring, prompted by money later said to have originated in the Soviet Union. He bought the Mirror Group built and a massive media conglomerate. The good times were on: Ghislaine was nicknamed “The Shopper” because of her wild spending funded by Robert’s millions. He also bankrolled her failed corporate gifts business. During this period, she reportedly had a VERY close relationship with her father and was widely credited with being her father’s favorite child. In Oxford, Ghislaine led a student life of wealth and privilege. Her father would send Filipino servants to the college house she shared to clean, arrange the table and cook, in the event of a party. Her career piggybacked on her father’s businesses. She was made director of the Oxford United, and later, put in charge of “special projects” of the New York Daily News. With her father’s money, she found her way into society, especially in New York — a haven where she could escape his complete control. But the good times were not to last. Overextended and over-leveraged, Maxwell’s empire was about to crumble. At this time, Maxwell reportedly was a regular at London’s casinos, playing three tables at once, even dropping $2.5 million in a single night. For years, he had been an inveterate gambler, but this was the behavior of a desperate man whose time was running out. “He was a very crude man,” said a female writer for Time magazine. “His polish was not very deep. If you were with him for any length of time, it peeled away. I was in his library in the Maxwell House penthouse—a beautiful apartment with marble and servants all over the place—and while I was admiring his books, his valet said to me, ‘You should see Mr. Maxwell’s collection of pornographic tapes’.” Ghislaine visited her father in his office before he flew off to Gibraltar. “He was looking for an apartment in New York—a sort of pied-à-terre, where he could talk and have meetings—and he wanted me to help him,” she told Vanity Fair. “He asked me to go see a particular apartment. He said, ‘If you like it, I’ll make time to see it and come to New York.’ ” But the next time Ghislaine saw her father, he was dead. ”Ghislaine is the baby of the family and the one who was closest to her father,” her mother Betty told Vanity Press. ”The whole of Ghislaine’s world has collapsed, and it will be very difficult for her to continue.” When she finally appeared before the reporters, she had collected herself. “How did your father die?” a journalist shouted at Ghislaine Maxwell. “He did not commit suicide. That was just not consistent with his character. I think he was murdered. ” Maxwell, it turned out, had debts of nearly $5 billion, and had stolen hundreds of millions from the Mirror Group’s pension funds to shore up his faltering companies. That left 32,000 employees exposed to retirement ruin. The irony was not lost on the hard-hitting British press: Robert Maxwell, a socialist, stealing hundreds of millions of pounds from the Mirror’s pension fund! He swindled money from two of his public companies, transferred millions in and out the secret family trusts in Liechtenstein, to manipulate the share price of his Corporation. Robert was called “rogue,” “crook,” “bully,” “thief,” “megalomaniac,” and “gangster.” The press told lurid tales of his sex orgies with midget Filipino hookers. He was seen as a 310-pound aberration gorging on spoonfuls of caviar. An erratic and cruel tyrant who used Turkish towels for toilet paper. Journalists wrote that he was a spy for the K.G.B. or Mossad or Czech intelligence—or all three. “My daughter Ghislaine has no money, no trusts, no funds anywhere.” her mother Betty told Vanity Fair. “Neither of [my children] had any money. Their father never gave them any money.” Their assets were frozen. His son Kevin’s house was put up for sale, as were the Lady Ghislaine and the Gulfstream IV Jet. Their passports were seized. A friend told The Times of London, “[Ghislaine] had always been the life and soul of the party wherever she wanted to go in the world and never had to worry about money.” Now she was the broken child of a monster, his name forever synonymous to scandal. “She was catatonic,” the friend said. Forced to vacate her huge company-provided residence, she moved into a small apartment. When a friend came to visit, Ghislaine told her, “They took everything—everything—even the cutlery.” Little did she know how many more times things in her life would shift from silver spoons to hard times. A woman brought up in luxury, she had everything taken from her, before she came to the United States to begin again. “He wasn’t a crook,” Ghislaine told Vanity Press. “A thief to me is somebody who steals money. (…) Did he put it in his own pocket? Did he run off with the money? No. And that’s my definition of a crook.” “I’m surviving—just,” she said. “But I can’t just die quietly in a comer. I have to believe that something good will come out of this mess. It’s sad for my mother. It’s sad to have lost my dad. It’s sad for my brothers. But I would say we’ll be back. Watch this space.” Ghislaine Maxwell was also being hunted by the tabloids. The Maxwell name was so detested in London that she is said to have had to walk around in a blond wig so people wouldn’t recognize her. Ghislaine Maxwell’s reinvention didn’t take long. Maxwell moved to the United States just after her father’s death. Her photograph boarding a Concorde to cross the Atlantic caused outrage – her father had just defrauded pensioners out of 750 Million Sterling Pounds. According to the Mail on Sunday: “Unnoticed by almost everybody, traveling with her was a greying, plumpish, middle-aged American businessman who managed to avoid the photographers. It is to this man that 30-year-old Ghislaine has turned to ease the heartache of her father’s shame.” “His name is Jeffrey Epstein.” “Whose house is this, Ghislaine?” a friend asked her in the early 1990’s. “Who lives here?” My friend,” Maxwell replied. “Well, is he banging you?” the friend demanded. “What’s the scoop here?” A trust fund is said to have provided her with an income of $145,000 a year. A far cry from her previous seemingly unending wealth. She “never, ever had any cash. Lots of credit, of course, but no cash”, one friend recalled to the press. And yet, she lived the high life. She was known in New York as the “female Gatsby” for her lavish entertaining. Had a “reputation for being charming and funny, and a glittering lifestyle straight out of the pages of a society magazine”. She was now “far from the ever watchful eye of the British press,” Hello! magazine wrote in 1997. “She is proud of the fact that her new life is all down to her own hard work and has her elegant apartment to show for it,” the magazine mistakenly added. One day, she would “get married and have kids. But it has never been a focus: My focus is my business.” Ghislaine’s presence added more fuel to the question: “How did Jeffrey Epstein amass his fortune?” For one of the most propagated theories is that Maxwell’s father Robert bankrolled him with funds hidden from the UK authorities. Jeffrey Epstein built a 21,000-square-foot mansion on a massive ranch in New Mexico, which – he boasted – made his New York townhouse “look like a shack”. He named it the Zorro Ranch. He also acquired a 72-acre island in the Virgin Islands and an 8,600-square-foot home in Paris, with a specially built massage room. She had found a path back to the lifestyle she’d lost when her father died. “She was used to living very well,” says a friend who knew her then. “She didn’t want to go back to where she was.” All she had to do to keep it was to give ‘the monster’ what he wanted. Maxwell was expected to drop everything to serve Epstein. She had to keep everyone in line, because one misstep would unleash the wrath of Epstein, one of the few people who could make Maxwell cry. “He would be screaming over the phone,” recalled an Epstein victim, “and she would burst into tears.” The New York townhouse became a social nexus; guests could have included members of the Kennedy and Rockefeller clans, “along with the requisite sprinkling of countesses and billionaires,” according to The Times of London. She was “a modern-day geisha” in a “domain filled with the richest people in the planet. “It’s a world frequented by young half-naked girls in bikinis, billionaires and lavish lifestyles, but it borders on the grotesque. You are never really sure what is going on behind closed doors.” Royalty was specially prized, which is why her friendship with Prince Andrew became so treasured. In 2000, Maxwell and Epstein attended a Prince Andrew’s party at the Queen’s Sandringham House estate in Norfolk, England. It has been reported that the event was in honor of Maxwell’s 39th birthday. And yet, Ghislaine began trying to distance herself from Epstein long before he went to jail. In the early 2000s, she hooked up in California with a man much richer than Epstein: Ted Waitt. Waitt lived in a seven-bedroom, 14-bath mansion in La Jolla, sailed the world aboard a 240-foot mega-yacht, the Plan B. It was equipped with a helipad, Jacuzzi, elevator, gym, and HAD AN ONBOARD SUBMARINE, which Maxwell soon was licensed to pilot. After Epstein went to prison in Florida for a short period, Maxwell saw the silver spoons turned into hard times again. Acquaintances that crossed her path reported how she was almost unrecognizable. She was not stylish and attention grabbing anymore, seemed determined to go unnoticed. Her face had no makeup. There was a hint of gray in her black hair, she put on some weight. “I was so shocked by her look,” a friend recalled to the British press. “I didn’t recognize her.” She even gave up her once proud name, sometimes introducing herself to new acquaintances only as “G.” “Where are you living, Ghislaine?” the friend asked. “I lost touch with you.” Maxwell suddenly went blank. “Oh,” she replied, “a little bit everywhere.” December 2014: Virginia Roberts Giuffre filed a motion in the Southern District of Florida describing Maxwell as Epstein’s “primary coconspirator and participant in his sexual abuse and sex trafficking scheme.” Maxwell made a huge mistake, issuing an “urgent” statement to the media dismissing the claims as “obvious lies.” That allowed Giuffre, to sue Maxwell for defamation in federal court in New York, a lawsuit “widely viewed as a vessel for Epstein’s victims to expose the scope of Epstein’s crimes,” according to the Miami Herald. Maxwell affirmed her innocence with fury, at one point of her testimony banging her fists on the table. She also, according to charges filed by the DOJ SDNY, committed two counts of perjury. 2019: when the SDNY reopened the criminal investigation into Jeffrey Epstein, Ghislaine was far away, living the high life. She met with her friend Prince Andrew in Buckingham Palace, and participated in “Cash & Rocket”, an annual charity road rally. Between races of the rally, she joined the super rich in attending a Masquerade Ball in London’s Victoria and Albert Museum, as well as a White dinner at La Reserve in Geneva and the Red party at the Yacht Club de Monaco. Those were to be her last reported events. Cash & Rocket scrub Maxwell’s photo from its website once Epstein was arrested and the scandal assaulted the headlines again. On July 6, 2019, Epstein was arrested by federal agents at Teterboro Airport, arriving from Paris. The FBI raided his mansion, and charged him with sex trafficking of minors. “Epstein’s pimp girlfriend, Ghislaine Maxwell, a very well-connected Brit socialite cannot just walk free,” actress Ellen Barking tweeted the day after Epstein’s arrest. “This woman is his pimp. She pilots planes [sic] to and from the island. I know because she told me.” Maxwell again went into hiding, unreachable during legal proceedings. It surfaced in December 2019 that Maxwell was among the people under FBI investigation for facilitating Epstein’s crimes. She was faced with a tabloid frenzy even bigger than the one that accompanied the death of her father. She again uprooted herself and tried to start over in Manchester-by-the-Sea, a quiet village 30 miles north of Boston, she lived for a time in the $3 million, five-bedroom colonial home of Scott Borgerson, CEO of CargoMetrics, a hedge fund investment company involved in maritime data analytics. Since Epstein was found dead in jail, last August, she is reported to have moved 36 times, out of fear for her safety. Credible Death threats arrived by social media, email, phone, text, and postal service. It began in earnest with Epstein’s arrest, multiplied with his death, and accelerated in the months that followed. They soon became a routine part of her life. She hired a professional security firm, with operatives that are veterans of intelligence and law enforcement agencies. This photoshopped photo of Maxwell surfaced last year to mislead the public into thinking she was in Los Angeles. Frank Report was the first to report the photo a fake, a story that went viral. “Where in the world was Ghislaine Maxwell? Everyone, it seemed, had a theory, each wilder than the last. She was said to be hiding deep beneath the sea in a submarine, which she was licensed to pilot. Or she was lying low in Israel, under the protection of the Mossad, the powerful intelligence agency with whom her late father supposedly tangled. Or she was in the FBI witness protection program, or ensconced in luxury in a villa in the South of France, or sunning herself naked on the coast of Spain, or holed up in a high-security doomsday bunker belonging to rich and powerful friends whose lives might implode should Maxwell ever reveal what she knows—all the dirty secrets of the dirty world that she and Epstein shared.”Maxwell remained at large, beyond the reach of attorneys, tabloid reporters, and a 10,000-pound reward from The Sun in London. “It’s a little bit like Elvis—you get lots of reports but they’re hard to verify,” a victim attorney said in May. She was periodically said to have been spotted around the world, usually in places where she was not. Reporters scoured the globe. Some said she was in Russia trying to get a Oligarch to protect her. Others pointed to Israel or Brazil, China, Singapore, the Middle East, England. She was “both everywhere and nowhere,” lamented UK’s The Guardian. On August 2019, she was apparently photographed eating a burger and fries in the Cahuenga Boulevard, in the San Fernando Valley. She held The Book of Honor: The Secret Lives and Deaths of CIA Operatives. Given Ghislaine and her father Robert’s alleged ties to Intelligence Services, this choice does not seem accidental. Papers were running out of incredible stories to account for her disappearance. A bizarre new theory emerged she could be hiding in a submarine which – as we saw – was not downright impossible, since she DID have a license to pilot underground vehicles. On July 2nd 2020, Maxwell was arrested by the FBI and NYPD in the small New England town of Bradford, New Hampshire. It is situated at driving distance of the NYSD. They finally found her in a luxurious four-bedroom, 4,365-square-foot home on a wooded lot, called Tuckedaway. Ghislaine Maxwell was charged with six federal crimes: luring and enticement of minors, sex trafficking of children and perjury. The crimes took place between 1994 and 1997, the years of her “intimate relationship with Epstein,” when she “assisted, facilitated, and contributed to Jeffrey Epstein’s abuse of minor girls.” One of the three unnamed victims was “as young as 14 years old when they were groomed and abused by Maxwell and Epstein, both of whom knew that certain victims were in fact under the age of 18.” FBI assistant director William F. Sweeney Jr. described Maxwell as “one of the villains of this investigation,” who had “slithered away to a gorgeous property” in New Hampshire, where she was “continuing to live a life of privilege while her victims live with the trauma inflicted upon them years ago.” “I am optimistic about my future,” she said in 1997, “and believe things will continue to improve for me as time passes.” Now, according to sources close to her, “I don’t think [Ghislaine] sees there is a future,” came the reply. If found guilty of all charges, Maxwell could face a prison sentence of 35 years. She denies the accusations, and has pleaded not guilty to all six charges. She will await trial locked up in the Metropolitan Detention Center, in Brooklyn. A dreadful prison that is as removed from her previous “silver spoon” upbringing as it’s possible in the US. Hard times. She used to be a larger than life character, who once hosted a dinner for NY socialites on ‘the fine art of giving a blow job’. But then, she really blew it. A report from a source familiar with the Metropolitan Detention Center gives a glum picture of Ghislaine Maxwell’s present conditions. She is in the women’s section and believed to be confined to a solitary cell. Because of the past history of the MDC, it is not impossible to suspect that Ghislaine could be having sexual relations with one or more corrections officers, either male or female. Her available wealth would permit her to buy some privileges directly from the corrections officers who could smuggle in items for her. MDC has a history of guards, male and female, enjoying sex with prisoners and smuggling in everything from alcohol to cell phones to drugs. While she is not enjoying what anyone would call a privileged life, and is most likely [because of Covid protocols] confined to her cell, dank and cold [in summer] perhaps as much as 23-24 hours per day and possibly getting only one hot meal per day, our source says, with her wealth and talent to charm, if there is any privilege, any opportunity, any luxury to enjoy at MDC, she is enjoying it. Of course, she is probably under near-constant surveillance, for no guard wants to go to prison for letting her get murdered or commit suicide – as did her former lover Epstein. It is not known how frequently she is meeting with lawyers in special rooms set aside for the purpose. But an MDC source tells Frank Report that prison officials are known to eavesdrop on those conversations with lawyers and defendants and do so on high profile cases. Whether they report to the prosecution what they learn is unknown. In the end, Maxwell has a hard road to hoe and will remain in the brutal and unsanitary MDC until she stands trial or makes a plea deal or dies. The possibility of additional charges other than those currently charged against her – for hebephilia crimes in the last century – remain a possibility. The late Jeffrey Epstein was a convicted hebephile, a person who has urges for post pubescent but under the age of consent children. Is Ghislaine one also? And are there others, famous and prominent men of power who have indulged as Jeffrey and allegedly Ghislaine have done? The ace in the hole for her, obviously, is, if she has info on other prominent hebephiles that the DOJ for its own partisan or PR reasons might like to selectively prosecute, she can trade that info for a lenient sentence and hopefully not be murdered for doing so. Her former lover, Jeffrey Epstein, might have committed suicide, as the Mainstream Media and the US Govt. urges you to believe, but there are some who find the coincidences, cameras being off, bones broken indicating he was strangled, guards happening to fall asleep as they were assigned to watch the most famous prisoner in the world, such that that it just might cause reasonable people to doubt the official narrative a little more than the corporate media and prison officials would wants us to doubt. The same fate might befall Ghislaine and we may never know just what she did. Whether her crimes were confined to herself and Epstein or whether there was a vast network of hebephiles joining in – or – in fairness to her – she is innocent as she claims, something that a trial, if she makes it to trial, might help us determine. stretcher during the funeral service in Jerusalem’s main convention hall on Nov. 10, 1991. The body is laying on a stretcher, draped in a white Jewish prayer shawl with black stripes as is it tradition of Jewish burials in Israel. (AP Photo/Natik Harnik) Ghislaine is fourth from the left. https://preview.redd.it/vnzmapdilrg51.png?width=432&format=png&auto=webp&s=bde723c918da88ce07aa1091b70c77baa76c0562 https://preview.redd.it/6v6qco3llrg51.png?width=509&format=png&auto=webp&s=7531e39667e4ee9f869b6c56ef8c53e118a8909f https://preview.redd.it/xu6z62snlrg51.png?width=574&format=png&auto=webp&s=c96a9decc1af25e8adc0e31b9cdad1d51c67faee |
It looks like China will not meet its Phase One trade deal promise to import more U.S. fuel products, including LNG, market watchers are now saying. Maybe that analysis is too easy to make at this point. submitted by MIEX_Official to u/MIEX_Official [link] [comments] https://preview.redd.it/e17iwpu1ny951.jpg?width=960&format=pjpg&auto=webp&s=fee9913ab11e4d9bfd5019cc318417b9da6c6161 China has as good excuse as any: the economy is climbing out of a pandemic sized hole, and demand is not what it was a year ago. The question is, will that excuse be good enough for the U.S. to keep Phase One in tact? Given that this is an election year, blowing up what President Trump once called a “great deal” may not be politically prudent. For now, China is not going to deliver on its promises and its excuse is reasonable enough. China said it would spend around $26 billion on U.S. oil and gas purchases this year. In Washington, Republican lawmakers and U.S. trade groups have been lobbying the White House to prioritize oil, gas and its derivatives in trade negotiations with numerous countries, with China being a prime target. They all want China — the emerging market’s biggest oil and gas importer — to increase its purchases of things like liquefied petroleum gas and liquefied natural gas, especially. It’s the only way U.S. natural gas is going to get into China. China can get these things cheaper from Russia, just across the border, via pipelines. China’s economy is in recovery mode, so one would expect more demand for oil and gas. That doesn’t seem to be translating into more demand for the U.S. product. China has a lot in storage to burn through. Crude oil prices fell over $1.30 during the day on Thursday and are back under $40. With or Without China, The Oil Glut Continues This week’s Energy Information Administration inventory report showed a continuous build-up in crude oil sitting in storage tanks. Gasoline demand is picking up, so a drawdown in inventories in the U.S., where oil was being stored on tanker ships offshore because there was no room, for the most part, at on shore storage facilities, will lead to a better outlook for oil prices. A lot is riding on the pandemic winding down. Oil’s direction is also an important indicator not only for energy stocks, but for commodity exporters like Brazil and Russia. Weak commodities tends to mean a strong dollar and a strong dollar is almost always negative for investor sentiment in emerging markets. On Tuesday, the EIA released their Short Term Energy Outlook (STEO) report for oil and the July STEO remains subject to heightened levels of uncertainty due to the pandemic. Reduced economic activity has caused changes in energy supply and demand patterns all year; China is no exception. Uncertainties persist across all energy sources, including liquid fuels, natural gas, electricity, coal, and even renewables. Last month, OPEC+ announced that the world’s oil producers would all extend through July their period of cutbacks that was set to expire on July 1. It is unclear if Russia will continue along this path once the month is up. Nevertheless, EIA expects monthly spot prices to average $41 during the second half of 2020 and rise to an average of $50 in 2021. That’d be for Brent crude. Meanwhile, China not holding up to its end of the trade deal, regardless of pandemic woes, adds to the geopolitical overhang. China stocks are on a tear, anyway, likely thanks to government backing from the People’s Bank of China, the casino-like atmosphere of China’s A-shares among retail investors there, and foreign investors starting to move overweight China on two factors: they are coming out of the coronavirus slump, and the prospect of a Joe Biden presidency. Biden is seen as ending the trade war with China. For now...the stimulus theme in markets trumps trade wars and trade deals. “It is difficult to maintain a ‘bull market case’ that doesn't involve additional trillions in government spending,” says Marc Odo, client portfolio manager at Swan Global Investments. |
SkyCity Entertainment Group has suffered a $1 billion hit to its NZX market capitalisation from Covid-19 and might soon suspend dividends and raise new capital, an analyst says. submitted by Maxim_Sherstobitov to NZXStockMarket [link] [comments] Chelsea Leadbetter, of Forsyth Barr equity research, said that although the business was strong, the pandemic had dealt it a major financial blow and shareholders could soon feel the effects. "SkyCity's market capitalisation has fallen by around $1b since the Covid-19 outbreak took hold in China. While we acknowledge material near-term risks, this is substantially larger than our various scenarios of the risk/cashflow impact," she wrote in the latest update on the stock. Under the Work and Income wage subsidy scheme, SkyCity Management got $21.7m for 3272 employees, as of May 3. Leadbetter said: "We expect the key near-term causality for investors to be a temporary dividend suspension." She forecast that no dividends would be paid from the second half of the 2020 financial year or the first half of the 2021 financial year. Like many others, the company might seek new cash: "There is also a possibility the board decides to raise equity to shore up the balance sheet through this period of heightened uncertainty." https://preview.redd.it/h7s44gyeetx41.jpg?width=620&format=pjpg&auto=webp&s=35b0e71170888462789b1d0632401b671a6840bd SkyCity is today trading on the NZX around $2.45, down from more than $4 late last year. Today its market capitalisation stood at $1.6b. Questions were today put to chief executive Graeme Stephens and chief marketing officer Liza McNally about the fall in the company's market capitalisation, the possibility of suspending dividends and raising new capital. McNally said: "As previously disclosed, SkyCity currently has sufficient liquidity, and has already implemented a range of changes to reduce both operating costs and capital expenditure, to withstand the short term impact of Covid-19. The board and management are continuing to evaluate SkyCity's longer term funding requirements and a range of options for satisfying these." Leadbetter noted property assets of around $2b and long-term monopoly casino licences. "However, like the majority of businesses it has been caught out by extraordinary circumstances. Forecasting earnings is near impossible in the near-term. However, when we are out the other side of Covid-19 we expect gaming spend to recover which will improve Ebitda, gearing, and enable reinstatement of what was an attractive dividend," she said. Early last month, SkyCity announced that about 200 staff would be made redundant and wages were cut by 20 per cent to cope with the pandemic's effects on the business. Last Friday, SkyCity said all its properties here and in South Australia remained shut at level 3 alert but construction work banned under the almost five weeks of level 4 had resumed. https://preview.redd.it/dkpp4jhoetx41.jpg?width=620&format=pjpg&auto=webp&s=33ece761c2e25d269361b8ac81204ba553c2a21d That re-started: • Work at the fire-hit NZ International Convention Centre and neighbouring Horizon Hotel in Auckland • Refurbishment of premium gaming rooms on levels eight and nine of the Auckland casino • New food and beverage venues Food Republic adjacent to the main casino floor in Auckland • Work on Aces Bar and creation of a new entertainment zone on the main casino floor in Auckland • Ongoing refurbishment and maintenance works on the AA Building where the business is now headquartered on Albert St • Refurbishment of Hamilton's main casino floor, including a new Baccarat area • Work on the development of the All Blacks Experience and Weta Workshop attractions in Auckland's former convention centre below the SkyCity Grand Hotel SkyCity also gave an update on its funding position, saying it continued to have a strong liquidity position with about $400m cash and undrawn debt facilities available. It does not expect to need any waivers for its June 30 debt covenants. "Following recent restructuring initiatives, SkyCity's operating cash requirements before re-opening any properties are around $12m per month. SkyCity also has significant ongoing capital expenditure commitments on its two major projects and other smaller development projects in Auckland and Hamilton," it said, referring to its $703m convention centre and $330m Adelaide redevelopment and expansion. The business is working on a funding plan for the medium term as it recovers. "This plan will be finalised once the trading performance of its New Zealand properties has been assessed following the expected re-openings by the end of May," the business said on May 1. Leadbetter said when New Zealand moves to level 2, most SkyCity properties will be re-opened but with significant restrictions. At level 1, all facilities will be back open, without restrictions. Source: By: Anne Gibson / Property editor, NZ Herald P.S. Did you find it useful? Please upvote or share it with your friends. I spend a lot of time looking for quality content so you can discover something new. → Learn more about Auckland Property & NZX Stock Market Tips at https://www.MaximSherstobitov.NZ/ |
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"You take this little beautiful baby and you pump ... " he said, referring to mandatory childhood vaccines. "We had so many instances, people that work for me, just the other day, 2 years old, a beautiful child, went to have the vaccine and came back and a week later got a tremendous fever, got very, very sick, now is autistic." | Washington Post |
"The Obama administration was actively supporting Al Qaeda in Iraq, the terrorist group that became the Islamic State." | Trump's Facebook Account |
"If we didn't remove incredibly powerful fire retardant asbestos & replace it with junk that doesn't work, the World Trade Center would have never burned down." | |
“The concept of global warming was created by and for the Chinese in order to make U.S. manufacturing non-competitive.” | |
Ted Cruz’s father "was with Lee Harvey Oswald" before the assassination of President John F. Kennedy. | Politifact |
[Of Kim Jong Un] "And you've got to give him credit. How many young guys — he was like 26 or 25 when his father died — take over these tough generals…. It's incredible. He wiped out the uncle. He wiped out this one, that one. I mean, this guy doesn't play games.” | Business Insider |
“I know more about ISIS than the generals do. Believe me.” | Washington Post |
“We don't even really know who the leader [of ISIS] is.” | Fox News interview with Bret Baier |
"An 'extremely credible source' has called my office and told me that @BarackObama's birth certificate is a fraud." | |
“Don’t tell me it doesn’t work — torture works… Waterboarding is fine, but it’s not nearly tough enough, ok?” | YouTube |
“He’s [John McCain] not a war hero,” said Trump. “He was a war hero because he was captured. I like people who weren’t captured.” | POLITICO |
Donald Trump spent 10's of thousands of dollars on an ad campaign in 1989, urging New Yorkers to bring back the death penalty and execute five minority youths who were suspects in a brutal rape case. Decades later, the youths were completely exonerated when DNA evidence proved they had nothing to do with it. Upon hearing about the settlement, Trump wrote a lengthy editorial in the New York Daily News calling it a "disgrace" and "the heist of the century". In this screed, he complained that the youths were still certainly guilty and that the city was "stupid". | The New Yorker |
Said that Judge Curiel should not preside over his case because of his "Mexican heritage" | Mediaite |
Blamed the Tiananmen Square massacre on the protesters for a "riot" while being impressed at China's brutal "show of strength" | The Guardian |
He withdrew medical support that he promised for his brother's grandson with cerebral palsy because he was angry at the boy's parents | New York Times |
Trump University targeted students who 'hurt' and 'had problems' | TIME |
“Look, he [Barack Obama] was born Barry Soetero, somewhere along the line he changed his name.” | Fox News |
Students at Trump University were coerced to give positive reviews | New York Times |
Censorship on the Internet: "We're losing a lot of people because of the internet," Trump said. "We have to see Bill Gates and a lot of different people that really understand what's happening. We have to talk to them about, maybe in certain areas, closing that internet up in some ways. Somebody will say, 'Oh freedom of speech, freedom of speech.' These are foolish people." | ABC |
A former Trump University sales manager testified that he was reprimanded for not pushing a financially struggling couple hard enough to sign up for a $35,000 real estate class he knew they couldn’t afford. | New York Times |
Mr. Nicholas, a sales executive, recalled a deception used to lure students — that Donald J. Trump would be “actively involved” in their education. “This was not true,” he testified, saying Mr. Trump was hardly involved at all. | New York Times |
Ms. Sommer, an event manager, recounted how colleagues encouraged students to open up as many credit cards as possible to pay for classes that many of them could not afford. “It’s O.K., just max out your credit card,” she recalled their saying. | New York Times |
[Of Trump's tax plan] The plan would reduce federal revenues by $9.5 trillion over its first decade before accounting for added interest costs or considering macroeconomic feedback effects. | Tax Policy Center |
[Of Trump's tax plan] Unless it is accompanied by very large spending cuts, it could increase the national debt by nearly 80 percent of gross domestic product by 2036. | Tax Policy Center |
Tax cuts largely focused on the top 1% like Mr. Trump, both in dollars and as a percentage of income. The tax plan costs $11.2 trillion, more than any other candidate, and $4 trillion of that comes from tax breaks to the top 1% | Tax Policy Center |
Wants to bomb Iraq's oil fields | CNN |
When giving testimony before the Congressional Subcommittee on Native American Affairs, Trump spoke angrily about the Pequot Indians, whose new casino had just surpassed his Atlantic City casino as the most popular in America. ‘They don’t look like Indians to me and they don’t look like Indians to Indians,’ he complained. | Mediaite |
[About foreign policy] “I’m speaking with myself, number one, because I have a very good brain and I’ve said a lot of things...my primary consultant is myself” | POLITICO |
[About a protestor] 'I'd like to punch him in the face" | CNN |
"If you see somebody getting ready to throw a tomato, knock the crap out of them," Trump said. "Just knock the hell — I promise you, I'll pay the legal fees." | Business Insider |
“When Mexico sends its people, they’re not sending their best. They’re not sending you. They’re not sending you. They’re sending people that have lots of problems, and they’re bringing those problems with us. They’re bringing drugs. They’re bringing crime. They’re rapists.” | Washington Post |
“Donald J. Trump is calling for a total and complete shutdown of Muslims entering the United States until our country's representatives can figure out what is going on.” | Campaign Website |
Donald Trump's "trade wars" would lose around 4 million jobs, and another 3 million jobs would not be created that otherwise would have been, had the country not fallen into a trade-induced downturn | Washington Post |
Wanted his 1-year-old daughter to grow nice breasts | NY Daily News |
Doesn't think Muslim judges can do their jobs | POLITICO |
Called Geneva Conventions 'the problem' | POLITICO |
Gets his military advice from watching television | Politics USA |
Seemingly doesn't know what the term 'nuclear triad' means | Rolling Stone |
Flipped Flopped on Abortion (5 times in 3 days) | Washington Post |
Said that Bill Clinton had intimate knowledge of Vince Foster's suicide | Washington Post |
Anderson Cooper: Saudi Arabia, nuclear weapons? Trump: "Saudi Arabia, absolutely." | CNN |
Has never held public office | Britannica |
Has attacked/insulted people countless times on Twitter | New York Times |
Flip Flopped on the War in Afghanistan | CNN |
Has declared bankruptcy four times | Politifact |
Has refused release his tax returns, even though it is a tradition. When asked why not, he said "It's none of your business" after being pointed out that being audited doesn't prevent you from releasing them. | New York Times |
Has flip flopped on tax returns | Washington Post Video |
When he released his tax returns in the 80s, it showed he didn't pay anything in taxes | Washington Post |
“We don't really need NATO in its current form. NATO is obsolete… if we have to walk, we walk.” | MSNBC |
Flip Flopped on Japan nukes | CNN |
Wants to abolish the EPA and cut Education spending | Mother Jones |
Said he would eliminate the "Department of Environmental," which doesn't exist." | IBT |
“You know, it really doesn’t matter what the media write as long as you’ve got a young, and beautiful, piece of ass.” | 1991 interview with Esquire |
"Our great African American President hasn't exactly had a positive impact on the thugs who are so happily and openly destroying Baltimore!" | |
"If Ivanka weren’t my daughter, perhaps I'd be dating her" | YouTube |
Flip Flopped on Muslim ban | POLITICO |
“We have to be very strong with our military, with our security,” Trump said. “We have to be extremely strong, we have to be very strong in terms of looking at the mosques, which a lot of people say ‘oh, we don’t want to do that.’ We’re beyond that.” | Mediaite |
"I am being proven right about massive vaccinations—the doctors lied. Save our children & their future." | |
Flip Flopped on Torture | IBT |
“If Hillary Clinton can’t satisfy her husband what makes her think she can satisfy America.” | DailyMail |
“A person who is flat-chested is very hard to be a 10." | New York Times |
The unemployment rate may be as high as "42 percent." | FactCheck |
Flip Flopped on Hillary Clinton | The Hill |
"The Mexican government ... they send the bad ones over." | Politifact |
Flip Flopped on the Israeli-Palestinian conflict | NBC |
Trump's “plan” to deport 11 million undocumented immigrants would shrink the economy by about 2 percent. The sudden subtraction of 7 million workers would cause an immediate shock to thousands of businesses, triggering a GDP collapse ranging from $400 billion to $600 billion in production | The Atlantic |
[To Californians] "There is no drought." | ABC |
Mocked a disabled reporter | CNN |
Flip Flopped on the Iraq War | Fortune |
[Of Megyn Kelly] "You could see there was blood coming out of her eyes," Trump told CNN's Don Lemon on Friday night. "Blood coming out of her wherever." | CNN |
[About Carly Fiorina] "Look at that face!" | USA Today |
Was endorsed/praised by North Korean State Media | POLITICO |
[Of Vladimir Putin] "I will tell you, in terms of leadership, he's getting an 'A,' | Washington Post |
Flip Flopped on Banning Assault Weapons | Politifact |
[About his penis] "I guarantee you there's no problem. I guarantee." | CNN |
Says the families of terrorists should be killed | The Hill |
Is seemingly okay with Vladimir Putin killing journalists | Business Insider |
Flip Flopped on Libya | POLITICO |
Has banned The Washington Post, The Huffington Post, Politico, BuzzFeed, the Daily Beast, the Des Moines Register, the New Hampshire Union Leader, Univision and others from campaign events | NPR |
Has exaggerated his net worth by at least 100% | Forbes |
Tried to bulldoze an old woman's house so he could build a limousine parking lot | The Guardian |
“She’s a brilliant judge,” he said during the Houston debate last month. Cruz has been “criticizing my sister for signing a certain bill. You know who else signed that bill? Justice Samuel Alito, a very conservative member of the Supreme Court, with my sister, signed that bill. So I think that maybe we should get a little bit of an apology from Ted. What do you think?” | Washington Post |
Debt strategy is: Print more money | CNN |
Partially helped put Atlantic City into turmoil while benefiting himself | New York Times |
Tried to connect President Obama in the recent Orlando carnage | Washington Post |
Lawyer: Donald Trump called me 'disgusting' for request to pump breast milk | CNN |
Said there should be "beyond databases" for Muslims. | Politifact |
Said women should be punished for abortions | YouTube |
Wants to 'open up libel laws' | POLITICO |
Has been endorsed by far right politicians including a war criminal (Vojislav Šešelj) who comitted genocide against Muslims in the 90s | Rolling Stone |
Several of his business products have failed | TIME |
While frequently criticizing illegal immigrants and saying they should be deported, he hired them to make way for Trump Tower then denied the accusation | New York Times |
"Obama’s attack on the internet is another top down power grab. Net neutrality is the Fairness Doctrine. Will target conservative media." | |
Trade relations with Canada would be severed | The Guardian |
His anti-Muslim rhetoric is being using as ISIS propaganda | Politifact |
Had to be shamed into donating to veterans after promising to do so in January but was caught not giving anything | Think Progress |
"I watched in Jersey City, N.J., where thousands and thousands of people were cheering" as the World Trade Center collapsed. | Politifact |
Claimed the movement to remove asbestos—a known carcinogen—was actually the handiwork of the mafia. | Mother Jones |
He bulldozed pristine and ecologically sensitive Scottish beachfront for a golf course then later went on to complain to a committee of the government of Scotland that the wind turbines off its shores ruin the view for his course | The Guardian |
"When I come home and dinner's not ready, I go through the roof" | Vox |
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