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marvella15 · 4 years

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Astaire & Rogers Rewatch Part 7: Shall We Dance

• Something I didn’t consciously realize about this film until reading Hannah Hyam’s book is that Astaire and Rogers don’t dance together until nearly an hour in. That hasn’t happened since Gay Divorcee. What was anyone thinking??

• Shall We Dance suffers from a lot of extra crap that it didn’t need, such as extraneous characters, far too many interruptions in the Astaire and Rogers relationship, and a bunch of weirdness like life-sized dolls, life-like masks, and backbending ballerinas. The film also has a lot of wasted potential, including a great score and songs by George and Ira Gershwin.

The Gershwins were already well acquainted with Astaire and Rogers. The duo had first met when she was starring in the brothers’ show, Girl Crazy, and Astaire was brought in to help with choreography. Rogers was close friends with George and even dated him. Astaire had known the brothers prior, having starred in a few of their shows with his sister, Adele.

• Our characters/actors: Peter “Petrov” Peters (Fred Astaire), Linda Keene (Ginger Rogers), Jeffrey Baird (Edward Everett Horton), Arthur Miller (Jerome Cowan)

• Around the time I was first really into classic Hollywood films, including these ones, my family and I adopted a new dog. I annoyed my parents to no end by suggesting we name him Peter P. Peters. Don’t know why I latched onto that name but I did.

• Even in the massive portrait of Petrov, you can see Astaire has his fingers curled in rather than fully extended.

• Astaire’s ballet attire lets us once again see just how skinny he is.

• Always loved how Peter does a little tap at the rhythmic sound of his name and birthplace: Pete Peters, Philadelphia PA.

• Rogers’ cardigan with all of its baubles is truly awful looking. It will only be out done by a terrible floral dress she wears later.

• I do however like that she shoves her handsy stage partner into a fountain. Why are men constantly the worst?

• “And why must there always be a kiss at the second-act curtain?” is YET ANOTHER example of these films trolling us. Not once up until this point has any act of an Astaire/Rogers outing included a kiss between them.

• Linda’s disinterest in even meeting Petrov is based on the assumption that he’s a “simpering toe dancer.” While that’s incorrect, she’s not wrong that he is indeed another man who has seen a picture of her and wants to tell her he can’t live without her. So she gets partial credit.

• If Peter wasn’t totally smitten before, Linda’s jab, “It’s just a game little American boys play” gets him.

• As a mixed race number, “Slap That Bass” is incredibly unusual for the era. Astaire was a great admirer of African-American dancers and was strongly influenced by Bill Robinson and John W. Bubbles. I love the blend of all of the voices in this song.

• The dance portion of “Slap That Bass” gives Astaire a chance to show off more of his innovative mind and choreography. He dances in time with the sounds of the ship’s engine and compels the camera to follow him across and up the vast set. The dance is also special in that we have behind the scenes footage of Astaire rehearsing, thanks to a home video shot by George Gershwin.

• Peter making Jeffrey believe the boat is rocking may seem a bit unbelievable but having been on a large ship myself, sometimes you don’t realize it’s rocking until you see other passengers weaving or a giant chandelier swaying.

• I usually skip most if not all of Jeffrey and Arthur’s scenes together. They slow down this film soooo much.

• Like in all of their films, songs are sometimes heard in the background before the actual musical number they appear in. But because this film is scored by the Gershwins, there’s an array of shorter pieces of music that are all their own, such as the whimsical score heard while Rogers and then Rogers with Astaire are walking her dog.

• The dog Peter borrows to give himself an excuse to talk to Linda hits his bark cue perfectly and looks extremely happy about it.

• I would love to know what exactly Astaire and Rogers are talking about while walking her dog. Maybe they were given lines that were then not recorded or maybe it’s improv. But it seems very natural.

Rogers did say that Astaire was a wonderful conversationalist and was adept at talking while dancing, something she noted most men couldn’t manage.

• Wow do I love it when Rogers gets to be extra sassy

Peter: “Isn’t it wonderful being here tonight like this? Still on the same boat together.”

Linda: “Oh, I seldom change boats in mid-ocean.”

• “Beginner’s Luck” is such a charming, fast song that Astaire delivers wonderfully. He hardly seems to take a breath.

A jazzed up version of “Beginner’s Luck” is the song Peter tried to dance to in Paris but the record kept getting stuck.

• Something this movie fails at is letting Linda and Peter’s relationship continue to progress before throwing more obstacles in their way. We know from the gossip of the ship’s staff that they have been spending a lot of time together. When we see them, they are having a relaxing evening that’s incredibly domestic: sitting side by side on the deck while she knits and he smokes. Wouldn’t it have been nice to see more of this part of their relationship?

• Why on earth did Peter think sending Jeffrey to fix the false baby rumors was the right decision? Jeffrey can’t handle a single thing.

• Infuriated at the rumors that she’s married to Peter and pregnant with their baby, Linda tries to call him. “Operator! Get me Mr. Petrov. What? Don’t you dare congratulate me!”

• The theme of this movie is supposed to be the blend of dancing and music styles. Peter’s ballet and Linda’s jazz styles are one example, George Gershwin’s varied score, which switches from jazz to waltz to foxtrot to classical, etc, is another. But it’s a fairly weak concept that doesn’t quite land and reportedly, neither Astaire or Ira Gershwin was wild about it.

• I love the new version of “Slap That Bass” that plays as Peter and Jeffrey enter the rooftop club.

• When Rogers sings “They All Laughed,” she is singing to an off-screen Cary Grant, her friend and sometimes date who was visiting the set at the time.

She is also wearing a dress with a horrible pattern. It’s supposed to be floral but it always makes me think of amoebas. Maybe it looked better in color?

• Astaire clearly has fun during the part where Peter hams it up a bit with his ballet next to Linda’s tapping.

• In some ways, “They All Laughed” is reminiscent of “Isn’t it a Lovely Day.” They’re testing each other, trading glancing as they see whether the other can keep up with the increasingly complex steps. Until now, Linda didn’t know Peter could dance this way so her surprise and amusement unfolds slowly as the routine progresses. But he has been grinning since the start because he’s hoping to win her back through this dance.

• This is another duet where it takes a long time before they touch. The first physical contact is just her executing a series of spins with the help of his fingers. And it’s during this part that Rogers finally breaks into a wide smile.

• When he spins her up onto the piano the first time, she happily waits for him to retrieve her. And when he spins her into a seated position and upright again a few times don’t miss how he looks at her with a wry, slightly mischievous smile.

• The Linda doll is so creepy and not lifelike. Who was fooled by this?

Also, Arthur is terrible. Jeffrey is terrible too but he’s an idiot so I’m more willing to let it slide.

• Peter walking out of Linda’s bedroom in the morning in his robe right in front of her fiancé while she is in her negligee is pretty funny.

• Peter and Linda’s nice day out is just further proof that this movie should’ve spent more time on the two of them together rather than breaking them up every few minutes.

• “Let’s Call the Whole Thing Off” is a fun song, though Astaire gets most of the good words imo. However, Rogers does do an extra affectation to some of her lyrics and that makes them funnier.

At one point when she’s singing, he turns to her and for just a moment his face goes soft in that way it does sometimes when he looks at her.

• Some film historians have labeled this dance as not that great when compared to other Astaire and Rogers numbers. But I’ve always found it very enjoyable and innovative. While Gene Kelly probably takes the gold medal for dancing on skates in It’s Always Fair Weather, Astaire and Rogers did it first, did it well, and deserve some extra credit for a duet on skates rather than a solo.

Rogers also deserves some extra credit since the idea to dance on skates was supposedly hers. And probably deserves even more credit for doing this dance on skates while also in heels.

• For some reason I really enjoy that they perform this number in their hats and street clothes. It’s so informal and feels like something you do on a fun date.

• Throughout this dance, Peter continues to be the playful one, as he’s been in their interactions in the film, and Linda is the more serious one who needs to be coaxed into having fun. Maybe this is why Astaire frequently glances at her and even spends long seconds watching her at different parts as they move into the next series of steps. Rogers is more reserved in her expressions but whenever they are face to face, she appears happiest.

A few times she looks triumphant, leading me to wonder if they or she had finally nailed a section that was giving them or her trouble.

• Can’t say for certain but I swear she almost falls when they do the backwards steps. She just baaaarely snags his hand in time.

They had to film this dance something like 150 times so I imagine there was more than one time where at least one of them did indeed fall.

• The circular dance they do leading up to the end is based on a dance Astaire and his sister made famous in their time on the stage.

• Apparently the grassy bank they tumble onto wasn’t padded so those fake grimaces of pain aren’t that fake. Their exchange after the tumble feels very much like married banter to me:

Peter: “Yes, it was my idea.”

Linda: “Have you any more of them?”

Peter, exaggerating: “No.”

• They’re such a good match:

Linda: “Peter, you’ve got to marry me.”

Peter: “Why, Linda, this is so sudden.”

• Oh 1930s Hays Code humor. The cop who overhears their conversation thinks she’s pregnant and pressuring the father of the baby into marrying her. Hurr hurr hurr.

• Heh:

Linda: “I beg your pardon but what are grounds for divorce in this state?”

Clerk: “Marriage.”

• It will never make sense to me that a dance was not planned in this film for “They Can’t Take That Away From Me.” It’s a truly lovely song. I know Astaire and Rogers will dance to it more than ten years later in The Barkleys of Broadway but it’s just not the same.

It’s also a good reminder in the film that Peter has legitimate feelings for Linda and she does for him but they’re far more conflicted. Though he must sense he’s hooked her in a bit since he becomes very aloof once they return to the hotel in the stupid hope of making her want him more? Idk, men are dumb.

• “They Can’t Take That Away From Me” carries special poignancy because it became a form of consolation to Ira Gershwin after his brother suddenly died two months after this film was released.

• Oh Linda’s face when she walks in to see Peter with the loathsome Lady Tarrington is so sad and crestfallen. Ever thought you and your crush were finally on the same page only to find them canoodling with someone else?

Although, she could’ve knocked first instead of just walking straight into his room…

• The ballet portion of the finale is weird and unappealing in every way. Harriet Hoctor was known for the backbend dance she does in this film. Maybe it was something spectacular in 1937?? but it doesn’t hold up.

One thing I’ll say about Astaire’s duet with Hoctor, it’s a great chance to see him in a romantic duet with someone other than Rogers and notice how different he acts. No secret smile, no lingering looks, no whispered words, no soft expressions.

• “Shall We Dance” is another upbeat song that deserves more than being featured in the remaining few minutes of the film. Their dance is far too short but wonderful all the same. Her delight when he finds her always makes me smile. She also executes some impressive full length lunges that I couldn’t do at this moment much less in a dress and heels in the middle of a dance number.

For a few seconds, his fingers press into the exposed dip of her spine in yet another example of Victorian hotness.

• And so we finish film number 7. Shall We Dance underperformed at the box office and wasn’t a critical darling. Everyone, the actors included, started to feel the magic was coming to an end. Coming up next is a film I pretty much never rewatch: Carefree.

#fred astaire #ginger rogers #shall we dance #classic hollywood #old hollywood #fred and ginger #astaire and rogers rewatch #all astaire/rogers gifs without credit are mine

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loading99percent · 6 years

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Exclusive 2/3

Pairing: LYJ x OC (Melanie/Li Xiangjun) || CXK x OC (Serena/Jiang Yingyue) Genre: slice of life, college!au, fluff Word Count: 4,901 Summary: Lin Yanjun openly flirts with Melanie, yet she’s tired of his games and can’t take him seriously. Cai Xukun and Serena chill on a daily, but there’s gotta be more than that between them. Eventually enough, the boys just want the girls exclusively to themselves.

part one.part two.part three

Warning: matured content as in college related stuff. swear words. NOT MOBILE FRIENDLY! not sure why, but it has all the breaks and stuff while on a desktop. (teach me if mobile is different and it can be done!)

Part 2! Not sure if you guys enjoy this as much as I enjoyed writing it, but hey it is what it is. Sorry if you guys get confused with the usage of names here and there. I wrote it and am too lazy to go back and like change them and so it is what it is. LOL Anyways, so yeah, this is part 2 of 3 and happy reading! kthxbai, Admin Lia~

After helping Xukun complete practically almost everything on his list, Serena finally entered her second class of the day. She waited for the rest of her group mates to join her, but none of them showed up as the rest of the class filed in. Serena wondered if there was a memo about something and she missed it as everyone was gathered in their respective group.

The professor finally arrived and began recapping their last session two days ago shortly afterwards. Serena anxiously looked about her hoping that at least one of them would show up. After telling the class to continue with their group work, the professor went through his files before calling out Serena's name. Serena became alert and slowly made her way towards the front of class.

"Yes, Mr. Hung?" Serena asked once she was besides his desk.

"I'm sure you have noticed that your group members aren't here, correct?" Mr. Hung stated as Serena nodded. "Well, Miss Jiang, I'm sorry to inform you that Mr. Song Shuijiao, Mr. Wang Youchen, Mr. Zhang Jinming, Mr. Jiang Dahe, and Mr. Liang Hi have all been expelled from Langfang since yesterday."

Serena's eyes widened with disbelief at the fact that five of her group mates were expelled and would no longer be attending school.

Mr. Hung continue on. "As for Mr. Li Xinyan, he has been dismissed due to serious medical reasons." He shot Serena a sympathetic look. "I know that it wasn't easy being paired up with a group of males, but I knew you handled it well. It's just the concern that you're the only member of your group now."

"So, what's going to happen to my grade then? Do I continue it solo?" Serena asked a moment later.

"No, Miss Jiang. I have decided for you to team up with my other class where another group is also doing the same topic. You'll work with them to receive your final grade for your last group assignment for my course."

"Does that mean I'll have to attend that class instead of this one?"

"Yes, you will. I know we're already in the second semester of the school term year, but it's the only way you'll pass this class for attendance. It's a Tuesdays and Thursdays class and it's at two-forty. Will that clash with the rest of your schedule?" Mr. Hung asked as Serena tried to recall her weekly school schedule and shook her head afterwards. "No and it's fine. Thank you, Mr. Hung."

He smiled at her. "No problem, Miss Jiang. Anyways, I'll see you tomorrow instead."

"Yeah, tomorrow. Bye."

Serena bid the professor goodbye before returning to her seat to gathered her things and left the classroom soon after. She was planning on returning back to the Nu Chi Phi house to take a nap, but she felt the vibration of her phone and answerd the call after looking at the caller ID.

"Hey, BinBin?" Serena answered her friend, Zheng Ruibin.

"Aren't you supposed to be in class instead of answering my call?" Ruibin questioned instead.

"I was, but something happened." She answered while walking off in a random direction. "What do you want?"

"Well, NaNa, I have a favor or two to ask of you."

"Is it for the stupid scavenger hunt that I-P-T is doing?"

"Yeah, how'd you know?"

"I just do. So what's the favors?"

"Well, we wanna use you in our photos."

"We as in...?"

"Jeffrey and I."

"Go figure." Serena rolled her eyes despite making her way towards a familiar direction. "I'll meet you guys at the basketball court at the park then."

"Thank you, NaNa!" Jeffrey thanked her from the background as Serena chuckled. "You're welcome. See ya."

"See you in a bit." Ruibin said before hanging up.

"Why am I being so nice today and it's not even noon yet?" Serena mumbled to herself after letting out a tired sigh as she headed towards Xinfan Park.

Melanie had just sat down in her seat when she was surrounded on both sides by her two friends, Qin Fen and Han Mubo.

"Guys, I just sat down. Can you give me a minute?"

"No." The duo answered as Melanie groaned. "You guys are so annoying. What do you want?"

"You already know what I want." Qin Fen answered with a smug look while wriggling his eyebrows as Melanie cast him a disgusted look. "Gosh you sound greasy and I knew you were secretly a little pervet. Don't do that again."

"If you give me what I want, then I'll leave you alone."

"Dude, you can practically ask any other girl to do what you're asking me to do. So go do it."

"It's not the same. They're expecting a date or something afterwards. You don't think of that of me."

"I wonder why, but that's not my problem. Besides, there are other Nu Chi Phi members who aren't like that. Hell, you could've asked Junyi, Zixuan, or Qiuyan to help you guys out instead of me."

"Qiuyan already helped me with three and both Junyi and Zixuan each helped me with two. All three said they wouldn't help me anymore than that." Mubo informed as Melanie rolled her eyes. "You guys seriously need to go find some more female friends. It wouldn't be that hard since you guys have quite a bunch of fangirls."

"Like I mentioned earlier in case you forgot-"

Melanie interrupted Qin Fen. "I didn't forget."

Qin Fen continued like he didn't get interrupted. "They don't want to be just friends, Jun." Qin Fen clarified as he cast her a look. "How many times do we have to keep reminding you this?"

"When you guys stop bothering me about stupid shit."

"That was uncalled for." Mubo stated with a look as Melanie shrugged while casting them an annoyed look. "It's whatever. I'll only help you guys two times, but that's it because I've done so much for you guys last time and I regret it." She glared at Qin Fen. "And you better have bought me a new bra already. Like forreals, Fen."

"I got you, JunJun. I got you." Qin Fen beamed as he set a white rectangular box onto the table. "You're welcome."

Melanie's eyes lit up as she inspected the present while slowly opening the gift. Melanie went to check the tag, but frown upon seeing the incorrect size while shutting the box and passing it back to her friend.

"What's wrong? You don't like the color?" Qin Fen asked worriedly as Melanie shot him a look. "The color's fine, but it's the wrong size, Fen."

"How can that be? I double checked."

"It's the same size as the one that you tried to give me that wasn't even mine. You're hopeless."

"Haha, I knew it." Mubo laughed while pointing a finger at Qin Fen. "I told you that wasn't her size."

"Shut up." He blankly stared at the box. "What should I do with it?"

"Give it to one of your fangirls." Melanie mused as Qin Fen elbowed her with a sheepish look. "Stop."

Jeffrey was currently serenading to Serena as they held hands, but her other free hand was slightly shielding her face from the camera's view. When it was over Serena quickly removed her hand from Jeffrey's and glared over at Ruibin who pulled Jeffrey's phone down to look at Serena amusingly.

"Are we done now?"

"Depends. Do you want to continue?" Ruibin smiled at her as Serena shook her head with a frown. "No. I basically did like fifteen of those on the list and even doubled them for the both of you. Took like two hours for some dumb reasons on your guys' part." She then placed a hand on her stomach while making a cute pout unconsciously. "Plus, I'm hungry and it's way passed lunch time."

"Then let's go get some late lunch then since our precious NaNa is hungry." Jeffrey suggested as he swung an arm around her shoulders with a playful smile as Serena slightly nudged him. "Didn't you want to try that 99 °C Bakery Cafe a block from here?"

"OMG, yes, Jeffy, but you're buying as the favor you owed me." Serena grinned as she looked at Ruibin. "And the favor from you, BinBin, is that you can owe me is getting that Totoro bedroom set."

"You live in a dorm room. You sure you want it?" Ruibin asked unsure as Serena nodded. "It's for my room back home. I ain't using that here."

"I mean, Jeffrey's richer than me, are you sure you don't want him to get that for you and I pay for lunch?"

"Oh, you right, you right." Serena nodded. "Jeffy pays Totoro and BinBin pays for lunch. Set and done. Let's go."

The trio began heading towards the bake shop.

"Off topic, but about NiNi," Jeffrey began, "How is she and Yanjun?"

"Nothing since NiNi just hates being involved with his dumb shit."

"Well, NaNa, a little birdie told us that Yanjun had NiNi become his pretend girlfriend again so that one of his crazy stalker fangirl could back off a few weeks ago." Ruibin explained with a small smile while placing a hand upon Serena's lower back to steer her out of the other people's way as they crossed the cross-walk.

"By little birdie, you mean your girlfriend, also known as Qi Yandi, also known as one of Nu Chi Phi's member gossiper, right?" Serena chuckled as Ruibin shyly laughed and nodded. "Yeah, something like that."

"Also, Ziyi told me that NiNi almost beat Yanjun up, but he prevented her from doing so." Jeffrey added upon remembering it.

"Yeah, she almost did. Actually, she's still pissed about it all because she was used three times for Yanjun's selfishness, but mainly she's just done with the other girls who were involved and wants to put out a restraining order on them."

"Dang, what did they do? Do you guys need protection?" Ruibin asked and offered as Serena shook her head. "Thanks. I'll ask her about it. But anyways, the girls keeps calling her names and what not, but when NiNi is about to confront them and shit, they run off scared."

"We can talk to Yanjun about it." Jeffrey offered. "Since we know him and he's definitey trying to stop using NiNi in those situations."

"I mean you could, but who knows how that will go since NiNi said she'll slap the shit out of Yanjun if he did it again. Anyways, these girls just talk a lot of shit, but won't do nothing. NiNi can handle that bit."

"I'm pretty sure it has to do with you guys being a part of Nu Chi Phi." Rubin stated with a knowing smile as Serena laughed. "Somewhat, but they're also part of Epsilon Nu Sigma."

"Ah, E-N-S, the crazy and party-goers sorority house." Jeffrey recalled as he affectionately patted her head. "Don't worry. They're all bark and no bite."

"I know. I've dealt with a lot of them without embarrassing my house, too."

"It's because you're a low-key N-C-P member and they don't know it." Ruibin remarked nudging her as she nudged him back. "It's because I do enough to stay under the radar from the public, but enough to get noticed by the sorority house to stay a member."

Serena then locked arms with her friends and hurried them along. "Anyways, guys, let's forget that. Let's get food instead because I'm hungry and I have a tutoring session in like an hour."

After bidding her two friends goodbye once they finally got what they wanted on the list, Melanie casually made her way to her next class. She settled herself towards the back of the classroom. She brought out her materials to review for the practice test on Monday. If she did super well on the test, then the teacher would allow for the practice test to help bump up their grades to replace a previous test that they scored poorly on.

Too focused on the reading material, Melanie didn't notice Zhangjing joining her and placing a dual boba cup near her. It wasn't until she felt a poke to her side and slowly turned to look at a smiling Zhangjing.

"I'm not talking to you." She stated while returning back to reading again as Zhangjing rolled his eyes. "Don't be so dramatic. My peace offering is your favorite drink."

Zhangjing pushed the drink closer to her and Melanie automatically took a hold of it to drink both flavors before putting it down again. "I'm still not gonna forgive you for your stupid antic with Yanjun this morning."

Before he could defend himself, Melanie shot him a look. "And don't try to say you couldn't come, because I saw your fast ass run off."

"You knew I was there?"

"Of course. Your broad back is so obvious."

"Wow, Xiangjun. Thanks for attacking my figure. You're a great friend."

"I never said we were friends, You. Zhang. Jing."

"Seriously, you're so rude, dude. I even pay for you whenever we eat hotpot together." Zhangjing scoffed as he angrily sipped on his own boba drink.

"Psh, it's because we made an agreement." Melanie reminded him while sipping on her own. "You pay for hotpot night and I pay for dinner hangout night." She then shot him a look. "Besides, Zhangjing, we do hotpot like three to five times a month while we do dinner hangout once or twice a every so well. Now think about that."

"Okay, fine. You win. My bad and I'm sorry."

"Gosh, you're such a little brat, I swear." Melanie commented with a smile as Zhangjing playfully stuck his tongue out at her.

The duo were later joined by Yanjun and another friend, Lin Chaoze, to who Melanie greeted the latter happily.

"Chaoze! Hi." She stood up to the hug the male as he returned the gesture and taking the seat on her other side. "Hi, Xiangjun. How are you today?"

"I'm good. You?" Melanie totally ignored Yanjun when he opened his arms ready for a hug from her, but she sat back down causing the male to slightly glare at her behavior towards him while he sat on the other side of Zhangjing.

"Lin Yanjun, zero. Li Xiangjun, nine thousand and one." Zhangjing muttered mischievously as Yanjun mocked laughed at him before glaring and reminding him of his little threat. "One eye open tonight, Zhangjing."

Zhangjing turned away to finish his boba. Yanjun glanced at Melanie to see that she was too busy talking to Chaoze about the upcoming test so he focused his attention on to the teacher who entered at that moment.

The tutoring sessions were being held on the first floor of the school's library in its own designated area. Today, along with two other tutors, Serena was tutoring seven of her fellow schoolmates in various topics.

"You write this word like this. That way the sentence flows better." Serena spoke in Thai to Huang Shuhao who was a Thai transfer student.

"Ah, okay. Thank you." Shuhao smiled at her as he erased his previous answer and replaced it with what Serena had told him.

"I mean, you can work with Sunnee a lot better since she's more fluent in Thai than I am."

"Oh, it's okay. I also don't want to disturb her."

Serena chuckled and patted him on the back. "I'm sure she would rather helped you with than deal with math right now. I'll go get her for you, Shuhao."

'Okay, thank you, Yingyue."

"You're welcome. Just wait a moment."

Serena made her way over to Sunnee who was teaching Sun Fanjie and Huang Ruohan an algebraic formula with no luck. The two girls switched places with Sunnee mouthing a quick 'thank you' before rushing to help Shuhao. Serena chuckled with a shake of her head before asking the two boys what they were exactly having issues with.

Once she helped them out she made her way over to Zhu Yiwen who beckoned her over.

"Yeah, what's up?"

"Ying Zhiyue needs help with his academic schedule next year," Yiwen began to explain, "And since you've worked with him the most throughout our tutor sessions, you think you could help him sort it out for the next school term?"

"Oh, yeah that's fine with me." Serena agreed while looking around for Zhiyue, but didn't spot him. "Did he already go down to registration?"

"Yeah. He just left to go talk with an advisor. I'm not sure when he'll return, but I'll let him know you'll agree to help him."

"Okay, cool, Yiwen. I should be free Friday afternoon if he's available."

"Got it. I'll keep you posted, Yingyue."

Just then, Serena felt her phone vibrated. She ignored it at first since it was only a text message, but when it vibrated several more times she went on ahead to check it out. She received several messages from her sorority's president, Qiang Dongyue, and upon scanning the last one it was telling Serena to report to her right now.

Class was about to end in less than half an hour when Melanie received a message from Dongyue. Contemplating if she should leave now or wait a few more minutes when she realized that she had friends in the class and that they could fill her in later. Melanie patted Chaoze and Zhangjing on the shoulders while asking them to message her later if she missed something as she gathered up her things.

Yanjun held out a hand for a high-five him which Melanie high-fived him unconsciously after passing by him causing Yanjun to grin at her in satisfaction. Melanie rolled her eyes at him, but quickly left the classroom and made her way towards the Nu Chi Phi house.

When Melanie neared the house she ran into Serena as the two looked at one another curiously while pointing at one another.

"Don't you have tutoring right now?"

"Aren't you supposed to be in class at this time?"

"Dongyue messaged me." They chorused at the same time while entering the house and making their way to the conference room.

"Hello, ladies." Dongyue greeted them with a smile as she motioned for them to sit as the duo did so with the rest of the sorority council. "We apologized in advance if you're missing on anything academic-releated."

"Take a breath and slowly exhale. It's nothing bad or serious, so don't stress about that." Kimberley, the vice-president, chuckled as the treasurer, Lucia, smiled. "Yeah, it's only to discuss about attendance for the social gatherings this school term and we're doing it by roommates."

Both Serena and Melanie relaxed and looked at their fellow sisters calmly awaiting permission to speak when prompted to.

"Anyways, Melanie," The secretary, Yamy, began with a grin, "You've done well in attending all the events that Nu Chi Phi has hosted thus far and have been invited to as well. And for that, we're awarding you this set for doing an outstanding job."

Dongyue stood, walked around the table, placed the small box in front of Melanie, congratulated her, and then returned back to her seat. Melanie then opened the small box and her face lit up upon seeing the new bracelet and necklace insignia set of Nu Chi Phi's symbols for this year.

"Thank you!" Melanie beamed as she closed the gift and put it into her bag.

"Now, Serena," Yamy began with a gentle look in Serena's direction, "We know you wanna be low- key and we're okay with that."

"Yeah, like super low-key under the radar type." Kimberley added with a laugh before speaking again, "But we would appreciate it more if you attended one more event before the school term's over."

Lucia nodded in agreement. "We acknowledged the fact that you do do your part as a fellw sister of Nu Chi Phi and haven't caused us any scandals or embarrassment since being with us." She then cast a look at her fellow council members. "Still..." She trailed off as Dongyue continued instead.

"As president of Nu Chi Phi, I'm ordering you to attend one more social event as per socializing with those around you not in Nu Chi Phi. Plus, you will actually need to stay for more than an hour. Not just make appearances to several attendees and leave soon afterwards." Dongyue smiled as Serena made a face causing everyone else in the room to laugh. "You don't have to mingle much, just chill or relax and eat the good food. Just stay for a bit passed an hour and you're set."

Serena nodded. "Alright, will do, Dongyue."

"Think of it this way, Serena, by joining a sorority you're committing yourself to a lifetime of network connections." Melanie nudged her friend as Serena nudged her back. "I know. You've been telling me this since you made me pledged Nu Chi Phi."

The others laughed before dismissing the girls as the two roommates headed up to their shared room to relax since they didn't have any other classes to attend for the rest of today. Serena had dozed off and so missed the calls and text messages due to her phone being on vibrate. Melanie had just returned from the bathroom when she saw her phone light up and went to answer it.

"Yo, wassup, bro?" She answered coolly causing the other person on the other line to laugh. "Sup, Melanie. You and Serena busy?"

"Well, Ziyi, Serena just fell asleep, but I can wake her up if you want me to."

"Do it!" Melanie heard another voice yelled through the phone. "Is that Xiao Gui with you?"

"Yeah." Ziyi confirmed. "Anyways, I mean if you don't mind. Xiao Gui and I are on our way to the I See Darling amusement park if you guys are down."

"Hell yeah. Just the two of you?"

"Mhmm. Xiao Gui basically forced me."

"I did not!" Xiao Gui yelled through the phone again. "But come join us, Xiangjun, and bring Yingyue along, too!"

"Alright. We'll see you guys in a bit." Melanie agreed. "Just let me convince Serena to come."

"Gotcha. Just message me." Ziyi told her with a chuckle.

"Will do. Bye."

"Bye."

Serena found herself sitting in-between Xiao Gui and Ziyi on the viking ride so that she couldn't escape with Melanie sitting on Ziyi's other side. The quartet held onto one another for dear life as the ride went back and forth. Of course, Serena had wanted for them to sit on the edge since it would make the ride more thrilling, but Ziyi refused and they ended up in the center of the ride instead. Once the viking came to an end, they all got off of it with Xiao Gui holing onto Serena's shirt.

"Ugh, Xiao Gui, I'm not gonna run away." Serena stated for the nth time today. "You don't gotta worry."

"I dunno." Xiao Gui answered a bit wary. "I remember the last time you said that to me, you also ditched me to ride alone on the roller coaster."

"Because I had to pee."

"Yeah, that's what you said, but you came back with a big ass corn dog and didn't share it with me."

Serena rolled her eyes. "Because you weren't hungry."

"I was lying." Xiao Gui admitted as Serena shook her head. "Gosh, you're hopeless."

"Anyways, what do you guys wanna do now?" Ziyi asked trying to direct the conversation somewhere else.

"Let's eat. I'm hungry." Melanie suggested as she pointed to one of the food stalls. "A corn dog sounds really good right now."

"Xiao Gui's paying since his bitch ass forced us to come here." Serena declared with a laugh as Xiao Gui shot her a weird look. "Dafaq? You think I'm made of money or what, Yingyue?"

"Guys, I'll pay if it gets you two to stop fighting." Ziyi intervened as Serena shook her head vigorously. "Nah, bro. Don't do that. Make Xiao Gui pay for our meal for once since he's always freeloading and shit."

"This bitch. Fight me, Ying." Xiao Gui said as he annoyingly bumped his chest against Serena's side as she pushed him away with a roll of her eyes. "Ain't gonna fight you, dipshit. Calm down."

"Hey!" Melanie snapped her fingers together while clicking her tongue. "Stop fighting like little kids. Sheesh, can't take you two anywhere."

"Psh, I didn't want to come in the first place." Serena reminded her. "I wanted to sleep instead."

"Bro, you sleep like all the time. Be more productive, lazy ass." Xiao Gui stated as Serena elbowed him. "Get outta here before I throw your ass into the gold fish pool, you big-mouthed frog."

"These two." Ziyi shook his head at his friends' bickering while smiling as Melanie sighed beside him a bit annoyed. "Och, I swear these two act like they grew up together when they only met like last year."

Ziyi placed an arm around her shoulders as he led them towards one of the food stall. "Let them fight, Melanie. I'll buy you that corn dog."

"Oh, please and thank you. I only ate oatmeal and a grilled chicken sandwich today."

"Then I'ma buy you a whole meal. Can't let my home girl starve."

"Thanks. I'll get you next time, Ziyi."

Both Melanie and Serena were given piggy back rides from Ziyi and Xiao Gui, respectively, on their way back to their sorority house down Greek row.

"So why are we doing this again?" Serena asked as she wanted to walk on her own while feeling uncomfortable with stares from the others.

"For the scavenger hunt, dummy." Melanie answered reminding her friend. "Weren't you listening before we agreed to do this."

"No."

"What else is new?" Xiao Gui snorted with a laugh as Serena tightened her hold around his neck causing Xiao Gui to choke out his words. "Ack, loosen up your hold, girl."

"Stop talking shit then."

"I'll stop when you start being nicer to me."

"Isn't allowing you to piggy back me, nice enough, brat?"

"Are you two done arguing over there?" Ziyi asked the two as the duo replied in-synced in a playful manner. "No."

"You guys are so childish." Melanie stated with a laugh as both Xiao Gui and Serena blew her each a raspberry.

When they neared the Nu Chi Phi house that was when the girls got off of the boys' back.

"OMG, about time. It was starting to ache." Xiao Gui held his back making a face as Serena rolled her eyes and playfully pushed him away. "Shut up or I'll get Bu Fan to hit you in my place."

"Don't you dare, Yingyue." Xiao Gui's eyes became alert as he cautiously looked around him. "I've dealt with him too much today. I don't need more."

"Mmhmm."

"Seriously, you guys fight like siblings." Ziyi remarked with a chuckle. "You sure you guys weren't separated at birth?"

"Nah, bro." Melanie dismissed the topic. "Don't bring that up or they'll start arguing again."

"Ugh, whatever." Serena threw a hand in the air to dismiss the whole situation. "Forget y'all. I'ma sleep now. Bye."

Before she could actually make her escape, Ziyi took the hem of her shirt to prevent her from leaving.

"Just let me go." She whined as everyone laughed while Ziyi pulled her closer and locked her under his embrace. "Just hang out for a bit more."

"Why? You guys already got enough stuff for your list from me."

"It's about attending another event." Melanie informed Serena as Serena looked at her warily before shifting it to the two males. "What about it?"

"Saturday night we got a little karaoke thing going. You down?" Xiao Gui asked with a smirk. "Or nah?"

"Hell nah. I ain't down."

"Don't be like that. You'll get to witness me and Ziyi have a rap battle."

"And so?"

"Don't be so stubborn." Ziyi told her while squeezing Serena a bit as she made a face at him. "I feel like it's a trap."

"You think everything is a trap." Melanie remarked with a roll of her eyes as Serena glared at her. "Because it usually is whenever you're involved and it's not Dongyue or the others doing when it's concerning the sorority. For you it's plain entertainment of my misery."

"I don't know what you're talking about." Melanie feigned aloofness as Serena scoffed. "Sure you don't, but fine, whatever. I'll go. Just let me go, Ziyi."

Ziyi smiled as he playfully held onto her longer while squeezing her causing Serena to squirm within his grasp before letting her go.

"Ugh. I hate when you do that." Serena huffed as she fixed her shirt.

Ziyi smirked while ruffling her hair. "Don't lie. I know you secretly like it."

Serena stuck her tongue out at him in response.

"Anyways, just make sure to bring a plush doll on Saturday night for karaoke." Xiao Gui reminded the two females.

"Why?" Melanie asked with a questioning brow.

He shrugged. "Something about a raffle or something. I don't remember. Gotta ask Zhou Tengyang about that."

"Well, we gotta go." Ziyi informed them. "We still got stuff to do before the scavenger hunt ends in a few hours."

The quartet bid one another goodbye with the girls entering their house and the boys walking back in the direction to their house of Iota Phi Theta.

#loading99percent #nine percent scenarios #idol producer scenarios #9% scenarios #9 percent scenarios #lin yanjun #cai xukun #idol producer #nine percent

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noble corporation plc (ne) ceo julie robertson on q2 2019 results - earnings call transcript

Noble Corporation (NYSE:NE)

ETCompany participant Jeffrey Chastain-2019 results earnings call at 9: 00 a. m. on August 2, 2019

Julie Robertson, vice president of investor relations

President, President and Chief Executive Officer Peakes am-

Robert eibler, senior vice president and chief financial officer-

Senior vice president of marketing and contracts Ian McPherson attends Conference Call

Simon Sean merkhamJ. P.

Taylor zucher

Tudor, Pickering, Holt harphead-

RBCMike Sabella-

Bank of America Evans-

Good morning.

My name is Natalie. I\'m your conference operator today.

At that time, you are welcome to attend the 2019 performance conference call of noble in the second quarter.

All lines are muted to prevent any background noise.

There will be a question after the speaker speaks --and-answer session. [

Operation instructions]. Thank you. Mr.

Sir, Jeff Chastan, vice president of investor relations at Noble, please proceed.

Jeffrey in Chase Tylenol (Compound Hydrobromide Dextromethorphan Oral Solution)

Thank you Natalie. Welcome to the 2019 earnings conference call of noble for the second quarter.

Thank you for your attention to the company.

If you miss it, we can find a copy of the revenue report that Noble posted last night and all supporting reports and schedules on noblecorp\'s website. com.

Before I transfer the call to Julie, I would like to remind you that we may make statements about our operations, opportunities, plans, operations or financial performance, matters of drilling business or other non-historical facts

Forward-looking statements affected by certain risks and uncertainties.

Our submission to the United StatesS.

The Securities and Exchange Commission, which is posted on our website, discusses the risks and uncertainties of our business and industry, as well as the various factors that may maintain the results of any progress

Look for statements from implementation.

These risks include oil and gas prices, customer needs, operations and other risks.

Our actual results may be very different from those.

Look statements and Noble are not obliged to update these statements.

Please also note that we have quoted

The financial indicators GAAP called this morning.

You will find additional disclosures required for these measures on our website, including the most directly comparable GAAP measures and related reconciliation.

Finally, based on our quarterly disclosure practice, once our call is over, we will post a summary of the financial guidance provided this morning on our website, which will cover the third quarter and the whole

Figures for 2019

With this in mind, I now transfer the call to Julie Robertson, chairman, president and CEO of Noble.

Julie Robertson thanks Jeff, Good morning ladies and gentlemen, welcome to our review of Noble\'s 2019 performance for the second quarter.

Thank you for attending today\'s conference call and for your continued attention to Noble.

In addition to Jeff, we are with me today with our senior vice president and chief financial officer, Adam Vance;

Robert eibler, our senior vice president of marketing and contracts.

Barry Smith, who also attended today\'s conference call, joined Noble two months ago as senior vice president of operations.

Barry has proven to be a very effective and valuable member of the management team and we are delighted that he is with us.

In yesterday\'s earnings report, we reported that EBITDA was $92 million in the second quarter and contract drilling revenue was $0. 275 billion.

Our business performance this quarter has been outstanding, and we have achieved these solid results.

As the recovery in the offshore market becomes increasingly evident, we are encouraged by many of the signs in our business.

Due to the increase in our asset class activities, the total fleet operating days increased by 13% from the first quarter to the second quarter, as we continue to benefit from the excellent layout of the global rig fleet, as well as the award and extension of contracts.

Utilization of the Jackup fleet rose from 98% in the first quarter to 93% in the second quarter, excluding utilization of nine active floating rigs in three cold regions

Stacking units increased to 89% from 80% in the previous quarter.

In the first half of this year, the total number of fleet operations increased by 32% over the same period in 2018.

We received more than $0. 3 billion in contract awards in six months.

We have a $2 bonus backlog.

1 billion as of June 30, the total amount of contract awards for the first six months of 2018 was more than double.

With regard to HSE, we have completed solid performance for another quarter in all areas, and thank the staff for their continued attention and commitment to our projects and initiatives, as well as our customers.

For the first time in this quarter, we deployed our new Noble\'s own managed pressure drilling system because Noble globetroter II carried out the drilling program in the Black Sea.

We are encouraged that the use of MPD technology is growing, and in the near future, opportunities for further deployment may increase.

I would like to provide some perspective on the Paragon lawsuit and our allegations for the quarter.

Noble completed the divestiture of a standard duty fleet and created Paragon at sea for almost five years.

Since the establishment of the noble litigation trust for the plaintiff in May 2017, we have received many questions about the status of the matter.

We understand the importance of keeping you as informed as possible about the situation and know that you can respect the sensitivity of the proceedings.

First, our views on the case have not changed.

Having said that, I would also like to remind you that we have always insisted that we are willing to settle before trial if it can be done on reasonable terms.

There are many important reasons why we consider reasonable solutions.

These include complex factual issues, uncertainties and risks associated with such litigation, time commitments and distractions of our organization, the potential impact of ongoing litigation, and uncertainty about our business, and the substantial costs incurred by bringing a lawsuit against a claim through trial.

We constantly assess potential outcomes, including the possibility of resolving issues before trial.

We also keep in touch with the litigation trust.

Judging by all major accounting standards and the requirements of these standards, we recorded the $100 million fee for this quarter as G & A fee.

We will continue to assess the matter as things develop.

Also, acknowledging that the charges in our financial statements do not mean

Trial resolution is imminent and does not indicate that Noble has reduced our view of our ability to present a convincing defense of the claims made by Paragon litigation trust, and we will vigorously defend ourselves.

As we have pointed out from the outset, we believe that Paragon Offshore at the time of the spin-off in August 2014 received the appropriate funds and solvents and had the appropriate liquidity, but the claim brought to us by the lawsuit is worthless.

Like many industry participants, Paragon was unexpectedly hit by a downturn that seriously affected the industry as a whole and insisted on staying.

As this is still a matter of litigation, our ability to comment further is limited.

We thank you in advance for your understanding of the limitations of our ability to comment.

Finally, as we disclosed earlier this week, we ended another step in supporting our long-term cooperation

Implement the long-term financial strategy after the company\'s 2017 Credit line amendment.

This amendment, which is strongly supported, provides the bank with a noble increase in the flexibility of the fiscal January 2023 through the maturity of this mechanism.

With more details on the revised facility, as well as an update to a more in-depth review and guidance on our financial performance for the second quarter, I am now transferring the call to Adam.

Thank you, Julie.

Good Morning, everyone. Welcome.

As disclosed last night, Noble reported a net loss of $0. 152 billion, or $0, in 2019.

Total revenue was $0. 293 billion, $61 per diluted share.

The results of the report included a total net income of $34 million or $0.

13 Diluted shares per share in connection with the release of previously retained tax positions after the company\'s US settlementS.

Tax returns as of December 31, 2010 and 2011.

In addition, as Julie discussed earlier, the results of the report included confirmation of a total cost of $100 million or $0.

Diluted shares per share in connection with Paragon Offshore litigation are £ 40.

Excluding the two projects, the company will report a net loss of $86 million or $0 attributable to Noble in the second quarter.

34 per share after dilution.

We included a non.

GAAP supports our press releases and schedules and can also be found on noblecorp\'s noble website. com.

I would now like to provide more insight into the performance of the second quarter and highlight some projects that are beyond the scope of the guidance we provided during our early call.

Contract drilling service revenues totaled $0. 275 billion in the second quarter, slightly higher than $0. 271 billion in the previous quarter.

This improvement is in part due to the daily revenue increase of the drilling vessel Noble Globetrotter II, which used the MPD system owned by Noble when implementing the oil well construction plan in the Black Sea.

In the second quarter, the effective daily rate of the rig (including revenue related to the MPD deployment) was approximately $398,000.

In addition, revenue for the quarter was positively affected by a 13% increase in total fleet operating days, which increased fleet overall utilization from 82% in the first quarter to 76%.

Added working days recorded by Sam Croft and jack-up drilling ship Noble Tom Prosser, Noble Johnny Whitstine, after the client asked to upgrade and transfer the rig to the Middle East, the company began operations at the end of April.

These events were partially offset by the decline in average daily income, mainly due to the completion of the legacy contract of the noble Don Taylor in February.

Revenue for the second quarter was 6% higher than our guidance range of $0. 255 billion to $0. 265 billion, this is mainly due to the delay on the completion of Jack Noble Scott Mark and Noble Roger Lewis now in the third quarter.

In addition, the contractual extensions of noble Don Taylor, Noble Sam Croft and Noble Clyde Boudreaux also had a positive impact on income.

In the second quarter, the contracted drilling service cost totaled $0. 169 billion, 2% lower than the cost of $0. 172 billion in the first quarter, 6% higher than the midpoint of our guidance range ($0. 175 billion to $0. 185 billion.

The lower maintenance and maintenance costs are in part due to the delay in the regulatory inspection of Scott Mark and Roger Lewis, as well as the reduction in the cost of other rigs, resulting in better results.

The average daily revenue increase for Noble globetroter II, coupled with reduced contract drilling service costs, resulted in a profit margin of 39% for contracted drilling services in the second quarter, up from 37% in the previous quarter, adjusted EBITDA for the second quarter totaled $92 million, up from $86 million in the previous quarter.

Interest spending in the second quarter totaled $69 million, compared to $70 million in the first quarter.

This total is below our expected range of $71 million to $75 million, mainly due to assumptions about the timing and final demand for the use of our credit facility during the quarter.

Total capital expenditure for the second quarter was $64 million, including $27 million in continuing capital;

$35 million related to major projects, including the re-commissioning of rigs and the purchase of Submarine Capital spare parts;

And capitalized interest of $2 million;

Compared with the capital expenditure of $83 million in the first quarter and the expected expenditure level of $90 million in the second quarter, the results in the second quarter.

Refer to our guidance for the quarter, the lowerthan-

The expected results are primarily determined by spending time related to Jack Noble Joe Knight and noble Johnny whittin.

I would like to comment on the recent revisions to our credit facility and provide additional color.

In summarizing the revised loan, the most important change was the elimination of 55% of the debt --to-

Total capital component and replaced by the Convention limiting the amount of senior secured debt --to-EBITDA.

The new ratio is currently set at the highest level of 4 times and remains unchanged throughout the year

2020 tails, down to 3.

5 times in 2021, 3 times from 2022 to January 2023 when the facilities are mature.

In addition, the total borrowing limit for the loan does not exceed 15% of the combined tangible net assets, less other secured debt.

The total commitment under the amended financing mechanism for 2017 was reduced to $1.

3 billion, compared to $1.

Before 5 billion.

However, as we model the business for the next few years, we expect 2019 to be the low point of the annual EBITDA generation.

Therefore, we are very pleased with the improvement of the facilities in the future.

Under the revised arrangement, the total projected current funds as at June 30, 2019 amounted to $1.

4 billion, including $0. 154 billion in cash and cash equivalents, and available funds under the revised $2017 credit mechanism. 25 billion.

I will now provide the latest financial guidance covering third quarter of 2019 and the rest of the year.

On 2019, our fleet was operating at 96%.

As of June 30, 2019, our fleet had a total uptime of 97% and was still ahead of our guidance.

However, with the increase in activities and the corresponding increase in fleet operating days, coupled with the structure and complexity of our fleet, a reasonable allowance is reasonable.

Once again, we have raised the guidance on contract drilling service revenue in 2019 to $1.

Between $7 billion and $1.

9 billion, compared to our previous $1 range.

Between $4 billion and $1. 07 billion.

The main reason for the increase was several contract extensions, resulting in an increase in the number of days of service.

Compared to our previous range of $45 million to $55 million, customer solvency revenue was revised to $35 million to $45 million in 2019.

The adjustment is driven by the customer\'s request for certain rig modifications.

In the third quarter of 2019, contracted drilling service revenues are expected to range from $0. 245 billion to $0. 255 billion, compared to $0. 275 billion in 2019.

Our guidance reflects that in the absence of a premium daily rate using the MPD capability, the average daily income of the noble globe Traveler II is lower.

The guide also reflects a reduction in global traveler II\'s revenue over an estimated 75-day period of 80% of the daily salary equivalent to its minimum daily salary of $275,000, which is being shipped to the United States. S.

Gulf of Mexico and shipyards received upgrades requested by customers.

Our guidance also reflects the expected downtime of noble Don Taylor and noble Sam Croft as both rigs are ready to move to Guyana and Suriname, respectively.

Finally, we expect the total service time of noble Scott Mark to be 30 days, and the service time of Noble Roger Lewis to be 10 days, because both departments are done from the second Noble Houston Colbert will not have any operating days this quarter, because it will move to the North Sea and shipyard to work before the drilling project starts later this year.

It is expected that the customer\'s reimbursed income will be between $8 million and $12 million in the third quarter.

The contract drilling service cost guidelines for 2019 have been slightly reduced from our previous updates, ranging from $0. 71 billion to $0. 725 billion.

2019 of customer repayments are now expected to range from $35 million to $45 million, compared to our previous $25 million to $35 million.

In view of the adjustment of the deductible income mentioned earlier, the profit margin of our activity remains unchanged.

In the third quarter of 2019, the cost of contracted drilling services was expected to be between $0. 185 billion and $0. 193 billion, compared with the actual result of $0. 169 billion in 2019.

The higher cost is due to the increase in maintenance and maintenance costs associated with Noble Globetrotter II following the relocation of the rig to the United StatesS. Gulf of Mexico.

In addition, we expect to experience costs associated with the pre-operation of noble Joe Knight, repairs and maintenance costs in Colbert, Houston, although the fixed costs of the shipyard are related to the relocation of noble Don Taylor and noble Sam Croft to Guyana and Suriname, respectively.

The cost associated with customer repayment is expected to range from $5 million to $10 million in the third quarter.

DD & A\'s guidance for 2019 has not changed in the range of $0. 445 billion to $0. 46 billion.

Compared with the actual expenditure of $0. 11 billion in the second quarter, we will also maintain the range of $0. 115 billion to $0. 111 billion in the third quarter.

SG & A\'s 2019 fee, excluding the $100 million fee associated with the Paragon litigation, is still between $65 million and $75 million, and the guidance range for the third quarter is consistent with the guidance level for the second quarter, between $16 million and $20 million.

In contrast, the adjustment cost for the second quarter was $16 million.

Compared to our previous range of $2019 to $0. 275 billion, 0. 28 billion of interest spending has been reduced to $0. 29 billion to $0. 296 billion.

Our revised net range is estimated at $8 million and capitalized interest related to the project of the noble Johnny whittin and the noble Joe Knight.

Interest expenditure for the third quarter decreased to $65 million to $70 million, with an estimated capitalization of $2 million in interest.

In contrast, the revised range was $71 million to $75 million, and the actual cost for the second quarter was $69 million. Non-

Controlling stake in P & L representing bully I and Noble Bully II 50-

The 50 joint ventures with Shell now expect the cost in 2019 to range from $13 million to $15 million, compared to the previous guidance range of $8 million to $12 million.

The increase in the profitability of the joint venture is due to the reduction in estimated operating costs, especially on Bully II.

We expect

Controls in the third quarter were $3 million to $4 million, while actual spending in the second quarter was $3 million.

With regard to capital expenditures, our guidance for 2019 remains $0. 25 billion.

The main components of capital expenditure include $90 million in maintenance capital and $0. 122 billion in major projects, including reboots and submarine spare parts, and $30 million in connection with the purchase of noble Joe Knight, $8 million related to capitalized interest.

Total capital expenditure is expected to reach US $67 million in the third quarter, compared with US $64 million in the second quarter, in part because, as the start time of the contract approaches, as well as higher customer requirements to modify the rig, the expenditure of noble Joe Knight is accelerating.

The third quarter included maintenance capital expenditure of $28 million, major project expenditure of $37 million and capital interest expenditure of $2 million.

Finally, our effective tax incentives for the whole year of 2019 are expected to be stable in the medium and long-termdigits.

The final result is highly influenced by the geographic combination of income.

The cash tax paid in 2019 is estimated at $20 million, which is entirely related to our international operations.

At the end of this morning, I am still encouraged by the steady progress our company has made in the first six months of 2019.

EBITDA was running more than we expected in early 2019 and is now reaching or exceeding $0. 3 billion this year, following our latest guidance advice.

As we transition several rigs to new contracts compared to the second quarter, the number of operating days in the third quarter is expected to drop by about 8%.

As you will see from our updated 2019 full year guide, we are confident that the fourth quarter will show an increase in activity and a good improvement in finance --over-

The rigs returned to work after relocation.

This temporary disruption and a steady trend to increase fleet utilization support our strategic initiatives to align our quality fleet with key areas that deliver exceptional long-term service

Semester opportunities.

I will now transfer the call to Robert to discuss the offshore drilling environment.

Thank you, Adam.

Good morning. Welcome.

Since we called May last time, the offshore industry has continued to show signs of a recovery in travel.

There are no better signs of improvement than the rigs back to work, and since the beginning of the second quarter, the number of working rigs in the floating sector has increased by 9% and the cumulative sector has increased by 6%.

The utilization of Jackup and the floating fleet has reached their highest level in four years, and customer inquiries indicate that this level has further increased by 2020.

In the jackup sector, with the full recovery of Southeast Asia, Australia and Mexico joining the early mobile North Sea and the Middle East, more and more regional activities have been significantly strengthened.

Rate improvements are no longer isolated from selected regions, but take a place globally for quality and high-spec units.

The floating plate is also recovering.

While the speed of improvement is different from that of the jack-up section, we recognize the number of supportive developments, the most important of which is the speed improvement of most modern drilling ships.

Customers are increasingly interested in gaining ownership of emerging dramas such as Guyana and Suriname, and we expect an improvement in the global offshore consumption yearover-

The year ahead is generally on the rise.

Mexico and Brazil offshore, operating through the recently acquired highly anticipated area position, are beginning to complete preliminary assessments, identifying the prospect of priority drilling, obtaining government approval and issuing an early rate hike.

Finally, the number of deep-water exploration wells drilled in 2019 is expected to increase by 25% over last year.

The importance of this renewed focus on deep water exploration cannot be underestimated, and as of the first half of 2019, 10 announced findings have been made.

Each of these developments is a powerful indicator of the continued transition of customer interests to the offshore sector, which we believe will ultimately lead to additional rig needs.

Adjusting the status of the aristocratic fleet, I am particularly encouraged by our contract coverage in 2019, and more importantly, the coverage rate is getting higher and higher in the next 12 months.

Of the remaining available days in 2019, as of June 30, our 80% floating fleet and 86% self-propelled fleet are under contract, excluding cold-stacked rigs.

When we look forward to the 12 months ended June 30, 2020, 74% of the available days are contracted, including 76% of the floating days and 73% of the accumulated days, also excluding cold daysstacked rigs.

Our excellent contractual coverage reflects our efforts to optimize the regional layout of the fleet, prioritize the geological opportunity area and match our professional capabilities to the technical requirements of our customers.

As Adam pointed out earlier, as we continue our efforts to improve rig installation, several rigs were transferred to new areas in the third quarter.

Including the noble Don Taylor and the noble Sam Croft, with further knowledge of the impressive resource potential, they moved to Guyana and Suriname, respectively, execute drilling projects where two customer interests continue to grow.

Travel to the United States with the rigS.

The Gulf of Mexico, the noble universal Voyager I and the noble universal Voyager II will complete the mobilization to enter the area and have or are about to begin drilling operations.

In the Eastern Hemisphere, Jack Noble Houston Colbert is currently moving to the North Sea and plans to start the contract later this year after the maintenance plan is completed.

Also on August, the new jack-up Noble Jim day will start crossing the Middle East and start a three-year drilling mission, which we expect to start at the end of the third quarter.

When we consider the contract opportunity for the floating jack-up rig listed in the medium term

2020, we remain confident that our history of alternative quality capabilities and proven performance has allowed us to compete well for new jobs.

The norble Sam Croft drilling ship is expected to complete its first well off the coast of sullinan by November 2019.

There are three other drilling projects.

Well selection, which may extend the rig to the first half of 2020.

Opportunities in the Western Hemisphere continue to increase in areas such as Guyana and the sullinan basin;

Brazil and the Gulf of Mexico are expected to bring good prospects for the rig.

In Southeast Asia, the current contract with Clyde isubmersible boubouboudreaux is expected to keep the rig active by the end of April ---

April of 2020

We are evaluating many customer needs in Southeast Asia and Australia for the more than half of the ball traditionally, and think the rig is good for replacing several of these projects.

We want our customers to commit to building platforms for these projects in the second half of this year.

Paul Romano, a semi-mysterious Noble, is still a noble piled up in the United States. S. Gulf of Mexico.

For certain items that require traditional mooring, the rig continues to be considered.

At the moment, however, we do not expect the rig to resume work by 2020.

In our jackup fleet, our 7 premium rigs are expected to complete the contract in the medium term2020.

On October, Noble Mick O\'Brien will finish his work outside Qatar.

Open demand in the Middle East, including Qatar, continues to emerge and we are evaluating these opportunities, as well as those in other regions, as we want to match the advanced capabilities of the rig with the needs of our customers.

In the North Sea, the Noble Hans doer, the noble Sam Turner, noble Sam Hartley and Noble Houston Colbert are expected to be the other three platforms in Deul from December to 2019 and March to April 2020.

The Noble Hans Deul contract includes a pricing option that will be retained until 2020 if exercised.

In addition to some seasonal downturns in the winter season, we believe that there are still a lot of opportunities in the North Sea, especially for high-end rigs, and are increasingly convinced that each drill will receive additional work many days ahead of the current price.

In Australia, the noble Tom Prosser, who is currently planning to complete a series of contracts by April 2020, is the most advanced jackup in the region\'s rapidly expanding demand.

Finally, the noble Regina Allen is expected to complete the P & A work off the coast of eastern Canada by May 2020.

We are promoting this high-end product in many regions around the world.

I would now like to review regional market developments and opportunities starting in the Western Hemisphere. In the U. S.

The Gulf of Mexico, using the industry\'s floating fleet, does not include cold-

As of the second quarter, the stacking unit was 89% units, compared with 80% units in the first quarter.

This improvement reflects a significant increase in exploration and assessment activities, especially among independents, and the return of the noble Global Traveler I, who will conduct a long-term assessment

Semester plan for the area.

Since the end of the second quarter, with the industrial utilization rate of the floating fleet rising to more than 90%, the number of contracted rigs in the region has increased further.

The ability to charter rigs improves business conditions.

The spot market daily rate recently awarded by the contract was more than 40% higher than at the end of 2018.

We believe that most rig demand has been assured for the remainder of 2019

Customer demand is expected to begin in 2020.

Mexico\'s medium-term outlook is improving and some international operators are finalizing plans to explore the recently acquired deepwater area.

Although these plans set the project start dates for 2020 and 2021, some limited deep water drilling is expected to begin by the end of 2019.

As concluded in the second quarter, only two floating rigs are active in Mexican waters, and we expect that number to rise to 6 or more in 2020.

With respect to Pemex, our focus on the existing shallow water sector has led to several tenders for the provision of self-raised Wells.

So far, local service providers have won most of the awards, but due to a shortage in Mexico,

Part of the capacity may come from areas outside Mexico that have rigs.

If all 15 awards are implemented, the cumulative number of contracts may reach 38 by the end of this year, up from 20 at the end of the second quarter.

In South America, the number of rigs offshore Brazil will increase for the first time in a few years, and tenders from Petrobras and international oil companies are pending.

Including the recent contract award, Petrobras expects to increase the number of rigs to 20 by the end of 2019, while additional rig demand may increase to 2020 or more.

As exploration and evaluation activities begin, IOCs can absorb two to five increments of floats in the medium termSalt price wheel.

Another three rounds are scheduled for the second half of 2019, which is expected to increase the interest of the IOC.

In addition, the Guyana, sulinan basin continues to drive customer interest with its impressive resource potential, as evidenced by the recent sulinan transaction.

A total of five drilling platforms, including three Noble ultra-deep water drilling vessels, are expected to be offshore in Guyana by the end of 2019, compared with only three at the beginning of this year.

Over time, additional drilling needs off the coast of Guyana are becoming more and more likely to emerge, and in addition, under the leadership of Noble Sam Croft, further exploration will begin in the third quarter.

With regard to the Eastern Hemisphere, the North Sea self-raised well demand remained stable in the second quarter, which may remain stable, as some rigs benefited from the additional days specified in the contract after the option well was implemented.

This increased time allows several work units to remain active during the seasonal [period]law].

In the Middle East, more than 24 years of rigs were granted cumulative rigs in the second quarter, and it is currently estimated that there are still 24 years under evaluation.

The impressive number of regional activities was following the award of 43 rig years of work to self-propelled Wells in 2019.

Does not include cold active fleet utilization

The stacking unit increased by 85% and supported the ever-improving daily rate throughout the year.

The incremental demand for rig demand at the end of 2019 and beyond continues to emerge in the region.

As we assess the opportunity at 2020, activity in Africa and Eastern Mediterranean remains sluggish, demand for self-propelled drilling platforms in West Africa is expected to improve slightly.

In places such as Angola and Senegal, as well as floating rigs with limited rig requirements on the east side of the offshore mainland of Mozambique and Kenya.

The mobile sector continues to be hampered by a large number of spare capacity areas.

In the eastern Mediterranean Sea of the Black Sea, with sufficient rig capacity to meet any incremental demand, incremental drilling projects are expected to be restricted in the near future.

Finally, in the Far East and Oceania, the expansion of the industry recovery is evident, where 24 contract awards were awarded in the second quarter, covering the needs of the jack-up rig and the floating rig

Demand for self-propelled drilling platforms in Southeast Asia is expected to improve for the rest of 2019, and international German contractors should benefit as the fleet owned by local service providers is now fully operational.

This important regional development is expected to support higher daily rates.

In addition, the Open demand for work projects outside Australia remains visible, and many of these development opportunities define contractual terms that extend to 2021.

Our high spec jackup Noble Tom Prosser is currently working on the mid market

The 2014 is well placed in the region with a premium equipment configuration and an exceptional performance history.

Finally, industry indicators continue to show a gradual recovery.

Adjusted to exclude self-lift and floating fleet utilization in cold

Stacking capacity, for the first time since June 9, exceeds 80% in 2015.

Significantly different from the industrial recovery in individual regions earlier this year, what we are seeing now is an expanded event, as most of the regions mentioned this morning are experiencing basic supply and demand improvements.

At the same time as the industry recovers, our sound marketing strategy is achieving the desired results, as evidenced by our excellent contract cover, engagement with key areas of strength and a strong customer base. Thank you.

I look forward to providing an update on further progress in October.

I\'m transferring the phone to Julie now.

Thank you, gentlemen, Julie Robertson.

During this year\'s work, I continue to be satisfied with the competitive position of Noble, including our fleet allocation, technical leadership and financial flexibility, all of this is the core practice of building our strength throughout the cycle.

Our advanced self-lift and floating rigs are located in a promising area with both mature resource potential and emerging resource potential to drive strong customer demand.

These areas, including the North Sea, the Middle East and Australia, are areas where we currently or will certainly live more than 90% people.

As Robert has previously pointed out, nearly 80% of our active floating drilling platforms will soon be in the Western Hemisphere Region, which offers extraordinary growth prospects, including the Gulf of Mexico, Guyana and Suriname.

With the development of new technologies and the development of good operational practices, we will continue to implement new technologies.

These advances have proven to create efficiency in automating the human-machine interface of machine control, production and machinery and standardized processes, providing our operations team with continuous technical capabilities and a safer environment

While we have just begun to see the benefits of this young technology, we expect to gain an advantage in offshore drilling design and development to ensure that we continue to meet and expand our customers\' drilling plans.

Our core focus is on financial discipline, which is critical to the longevity of cyclical businesses. A steady de-

Our main financial objective remains to take advantage of the balance sheet and ensure a solid liquidity track.

I would also like to note that, starting with the fleet status report scheduled for September 9, we will continue to provide daily rates to increase transparency, unless subject to customer restrictions, and provide insight into our business progress.

Finally, we continue to perform well on everything we control.

As always, I would like to thank all the staff of noble for their continued support and commitment to our company.

While we feel that we have a new bottom, we are clearly entering a period of recovery that has proven to be important.

It was a long and challenging downturn, the Noble Team members have been focused on doing the right thing, and I am very grateful for their loyalty and dedication.

I will transfer the phone to Jeff now.

Julie, Jeffrey Chastan. Okay. Thank you.

Natalie, we\'re ready to start this. and-

The response part of the call.

So if you are going to line up, we will take our first question and ask all the people in line to limit one of their own and please follow up.

Natalie, go ahead. Question-and-

Be sure to answer the session. [

Operation instructions].

Our first question came from Ian McPherson of Simmons.

Your line is now open.

Thank you, Ian McPherson. Good morning.

Very good quarter and I\'m glad to hear that dayrates transparency is back again.

We agree that this will help us and will also help you commercially.

So, I look forward to it.

I would like to ask a question about Guyana, Suriname, Julie or Robert just to ask

The annual visibility there and growing evidence that interest rates are rising during the day, and whether the dialogue there is starting to move towards more long-standing views acceptable to both sides

Contract term?

Or do you think this will continue to evolve step by step with your major customers and other customers who may add rigs to the area in the next five years?

Zinc Citrate Tablets Ian Julie Robertson

First of all, thank you for your participation this morning.

Obviously, we are having a conversation with key customers in the region.

We do believe that China-US relations are developing in a more mutually beneficial direction.

We are definitely working with them right now and we think we will release something soon.

But we didn\'t have much more to add until then.

I will ask Robert to comment, but the area will definitely become more solid and we are very excited about the future there.

The only comment by Robert eilermy is that the drilling plans there change regularly, and the known resources continue to change as the discovery grows.

So it\'s a dynamic environment, but it\'s very positive for the industry, especially for customers involved in the region.

Ian McPherson is fine.

We will continue to pay attention.

I would also like to ask about Tom Prosser as in China you seem to particularly like that platform in the prepared comments.

I kind of infer that maybe it\'s a rig that has the ability to set a new higher profit on the market for pricing when the opportunity comes.

But you do have some selection wells that look likely to take a big part next year.

So, when are you thinking about when the rig can be re-priced and hopefully set up a higher daily rate level for the high end of the region?

Julie Robertson, I will tell you that the rig has an incredible reputation in that market.

We hear feedback every day.

But I will ask. -

I asked Robert to answer your question.

But it all went well in Australia.

Robert.

So, as Julie mentioned, the performance below is good.

We are not ready to talk about the re-pricing there.

We are certainly having some conversations.

As you know, the area is somewhat isolated and supplies are limited, and it is difficult to increase supply rapidly due to security conditions and regulations in the country.

So we are discussing extended working procedures with many different customers that run all the way to 2022.

None of this is final, but there is a lot of visibility over the next period of time.

As we mentioned, the region may also support another rise at some point.

I hope we can provide you with more colors and it\'s just a bit early in some of the conversations we have there.

Our next question is Sean from J. P. Morgan.

Your line is open.

Sean merkham, so I want to focus on assessing the size of the Western Hemisphere.

You mentioned that Noble is building many different markets.

Obviously, you did a very good job in Guyana, sulinan basin.

I think you estimate the Mexican side that the Gulf of Mexico could be the four incremental rigs in Brazil in 2020 to see more rigs between Petrobras and the international oil company.

Can you estimate it for us? -

On the float side, if we put all of this together, what would the 20 + 19 years of age in the Western Hemisphere actually look like?

What is the annual incremental opportunity? over-year in 20?

Robert eilersure, so I mentioned in the transcript of the four drill machines in Mexico that I think the number of incremental rigs gave me--

Based on what we are seeing today, I think this is a fairly safe number.

There was a deadline for drilling there, and we heard a lot of positive progress on the existing schedule there.

This number may be a little higher, depending on the time and on a lot of exploration work.

So very short-term in nature.

So if some exploration work is scaled down together, then we think that number is the Delta four that we mentioned.

If some of these eventually overlap due to individual customer preferences, for whatever reason, this number may be higher in the country for a period of time.

In Brazil, as we mentioned, Petrobras will run up to 20 rigs this year.

We think their fleet will definitely be bigger than that.

We think we saw some of them in 2020, 5 to 10 incremental units.

At this point, it is hard to say that if supply is announced today, reaching £ 20 will take a little longer than anyone expected.

Therefore, it is difficult to predict the time from there to increase further.

But what we see is an extra slope.

It may include the Seventh Generation, which is only for Petrobras.

On the IOC side, we mentioned two or five rigs, which we believe will be heavily invested in the seventh generation.

Between Mexico and Brazil, it is even more difficult for us to say that we have commented earlier on Guyana, Suriname, but some exploration wells are planned later this year and early next year.

So I think next.

It could be 2021 events since then, but I also think that between now and 2020, some additional exploration work is likely to become visible, in that Caribbean region, either on the floating End or on the jack-up end.

I appreciate all the details. I think U. S.

There are obvious emissions in the Gulf of Mexico.

How does this factor come about?

We saw a ramp-

It\'s been quite a while now.

These professional drilling teams are basically in place, but the exploration has been a good success recently.

I think we were encouraged by the talk we heard on the street about planning to use a relatively high level among independent voters in 2020.

So, as you know, their plans tend to be smoother than some professional ones, but, we certainly hear some encouraging news about extending the current contract, and it is possible to add one or two drill machines.

Thank you, Sean merkham.

Then only 2020 of the utilization rate on your floats is close to 80%.

So, how do you reactivate the potential in the cold

The units piled up in the work plan support this effort at least in terms of consideration and next year\'s capital deployment?

Julie Robertson Sean, as we have always been, we will continue to show great discipline in reactivating.

Obviously, if something is there, we continue to believe there will be, which will enable us to reactivate any of our cold --stacked units.

We are in a hurry to do so, but we will not do so until the contract will reward our investment in the unit and get a good return for the stakeholders.

So, we are eager to reach this point, but we have not yet reached this point, and we will certainly be very cautious about how to deal with this.

The next question comes from Tudor, Pickering, and Taylor zücher at Holt.

Your line is now open.

Taylor zücher, I want to follow up on a previous issue.

Robert, I think you\'re talking about the IOCs in Brazil, and you can see the demand for two to five rigs for all the seventh gens in Mexico.

When we see the same places that require these rigs, many of them are already in long-term contract.

So I\'m curious about the incremental activity you see. -

Do you see further activity, is it a real increment, or do you think there is part of the rig that is currently used for a long time

Regular contracts between markets?

This is a question of fairness.

One of the most difficult conditions in our industry is

It is well known that the term nature of all ultra-deep water works.

The terms are increasing and I think we have seen the average monthly rewards and a slight increase in the quarteron-

It\'s been a while now.

But the conditions are still very short compared to the normal cycle of the ultra-deep water contract.

For the rest of the year, they are a large number of rolling enthusiasts and enter 2020.

So when I think-

What I\'m talking about is the upcoming new project, you know, it\'s hard to predict exactly who will expand and who won\'t scale because of all the scrolling.

But as I mentioned earlier, we got good feedback from many different customers about their intention to expand on the rig now.

I think that many of these conversations are not only with us, but also with our competitors to a large extent, and are now continuing direct negotiations.

When you hear a lot of discussions about direct negotiations, I think a lot of them have to do with capacity ---

The ability to continue in these rolls.

Okay, thank you.

Next, you talk about the full recovery in Southeast Asia and Mexico in the script.

Your fleet today is basically in the Middle East and the North Sea.

So, just curious if you can compare and contrast, or give us some color on cash margins in Mexico and southeast Asia relative to the two markets you are mainly in today?

Then Mexico. -

I tend to think that Pemex is a bit more onerous than T and C.

So, just curious if this is the type of work you are interested in bidding forward?

Robert eileryes, so I think the profit margin in Southeast Asia is roughly the same as in the Middle East, or maybe a slight drop.

Mexico, is a more difficult story in terms of profit, as Pemex has many different ways of contracting there, such as the fleet that provides the rig.

We do not yet have detailed information on these 15 tenders, which have been issued in the region.

So, when we were in Mexico before, we had a big profit in that country, and we were the biggest drilling contractor there.

The Ts and Cs you\'re talking about are true.

They have some constitutional rights there, and some find that I think it represents some risk in the past, and we are satisfied with that. I don\'t --

I did not mention Mexico earlier because it is an area that we are very likely to enter, but I do think it is an important part of the balance of supply and demand in the future.

The next question comes from a column of Kurt Hallead with RBC.

Your line is open.

Kurt Halard Julie, back to analyst day at the end of June, you provided a small sensitivity table on the daily rates required for the cumulative and floating, these are all what you need to get positive cash flow dynamics.

I would like to know if you can tell us some of the discussions on how to proceed in the market.

When you enter the second half of 20 years and 300,000 years, how much confidence do you have in the cutting edge rig to reach more than 2021 floating rate?

Is there any insight into this?

Julie Robertson we \'ve been saying that we\'re going to look into the second half of 2020 because some people think it might happen earlier than that.

But we have been continuing our ideas and hopefully it will start to pick up at the end of 2020 or the second half of 2020.

All the numbers that Robert read in his speech this morning certainly show how tight the market is getting, so that clearly leads to this.

But we feel good.

I mean the numbers that we put forward on the chart, you mean that we think we are within the scope of reason and grasp, and certainly within our time frame.

So we still feel very positive.

I know the mood of some of our peers may have declined, but we still feel ---

But we have never been as optimistic as we are now, and we still feel very, very positive.

Kurt HalleadOkay. Great.

I appreciate it.

Maybe in this context, when you think about the generation of future cash flow, when you exit 2020, do you expect or expect that you may get a positive level of free cash flow?

Is this a viable dynamic?

That\'s our goal, of course.

I think it will be a real extension.

But it certainly-

On our radar, it is obviously the most important thing to go back to the positive side of free cash flow, and we are trying to do that.

But I think it will be a bit of a push, but we are working on it.

Our next question is Mike Sabella from Bank of America.

Your line is now open.

Mike saberley, I hope you can--

Adam goes back to the discussion about the deed, so considering that the revolver is the case in most of today\'s availability or EBITDA.

Does this mean that the next step here may return to the priority of key markets?

If so, can we have a detailed look at the time or scale of the market, current dynamics? Yes, Adam.

Look, I mean, our financing plan is not to continue to survive with a revolver.

So I think we are lucky that we bought a bigger revolver for our size company and I think we are very comfortable on the $1 price.

3 billion in the revised facilities.

We have a lot of room there to comfort people with the mobility of the future.

Having said that, we will definitely look for the opportunity to withdraw from the draw of the revolver, giving priority to ensuring that the market may be the one we use.

I mean, we have several different options and different levels of financing, and I think we will keep a close eye on the market and find out the most attractive alternatives.

However, if the market is there in the second half of this year as our industry conditions improve, we will definitely be opportunistic.

Mike SabellaGreat. Thanks.

Then, if we can talk about the cost guidelines, it looks like 4Q is still expected to be a little higher than half the time.

Should we consider 4Q as a good run rate of 2020 or some more

Is there time for that number?

Adam PeakesWell, I don\'t think we want to be in a position yet where we provide more than expected guidance in the early stages of the fourth quarter 2020 budget process.

However, what I\'m saying is that the fourth quarter will be a--

All our rigs are active.

Therefore, the cost structure consistent with the high utilization rate of our fleet is not a bad starting point.

Our next question is from Jon Evans at SG Capital.

Your line is open. Jon Evans Yes.

Your competitors talked yesterday about their deal with Saudi Arabia from the perspective of their joint venture, they launched the two drill machines they should have ordered, etc.

I just hope you can give us some update on the Middle East dynamics.

Are these pressures tightening the short-term market, or do you see any opportunity for interest rates to rise, or do you add more demand because of the pressure in new buildings?

Robert eilerno, frankly, I don\'t think there is much dynamic change.

I think the more important thing to think about now in the Middle East is that in 190 yards there, 50% are over 30 years old.

Not only do you see Aramco\'s largest consumer in the world, but several other major consumers in the region are also clearly leaning towards more modern products.

This is a new development.

As part of some of the old rigs, you \'ve seen this in Saudi Arabia, and with the roll-out of these old rigs, you \'ve heard rumors about it elsewhere in the Middle East, I think you will see replacing these devices with more modern rigs.

When you see a wide supply demand for jackup space, this will be a big driver of high-end and high-spec equipment utilization.

Okay, Jeffrey Chastan, Natalie, I think we\'re going to go ahead and end the call.

We thank you all for your participation this morning and Natalie for coordinating the call today.

Hello everyone.

This is the end of today\'s conference call.

You can disconnect now.

Have a good day.

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Biden Is Pushing a Climate Agenda. Gina McCarthy Has to Make It Stick. WASHINGTON — Gina McCarthy worked six or seven days a week, 12 to 14 hours a day, to produce America’s first real effort to combat climate change, a suite of Obama-era regulations that would cut pollution from the nation’s tailpipes and smokestacks and wean the world’s largest economy from fossil fuels. Then the administration of Donald J. Trump shredded the work of President Barack Obama’s Environmental Protection Agency chief before any of it could take effect. Ms. McCarthy is back, as President Biden’s senior climate change adviser, and this time, she is determined to make it stick. The most powerful climate change official in the country other than Mr. Biden himself, her charge is not simply to reconstruct her Obama-era policies but to lead an entire government to tackle global warming, from the nation’s military to its diplomatic corps to its Treasury and Transportation Department. She will also lead negotiations with Congress for permanent new climate change laws that could withstand the next change of administration. “I’ve got a small stronghold office, but I am an orchestra leader for a very large band,” Ms. McCarthy, 66, said in a speech in February. Mr. Biden’s two-day global climate summit meeting, which begins Thursday, is his chance to proclaim America’s return to the international effort to stave off the most devastating impacts of a warming planet, but it is Ms. McCarthy’s re-emergence as well. Mr. Biden is expected to pledge that the United States will cut its planet-warming emissions by at least 50 percent below 2005 levels in the next decade. The world has seen such promises before, with the Kyoto accords in the 1990s, then the Paris Agreement in the Obama era, only to see them discarded by subsequent Republican administrations. It will fall to Ms. McCarthy to prove the skeptics wrong. Washington “has offered nothing on how it plans to make up for the lost four years,” said the spokesman for China’s Foreign Ministry, Zhao Lijian, on Friday. The administration plans concurrent efforts to enact regulations to curb auto and power plant emissions, restrict fossil fuel development and conserve public lands while pressing Congress to pass the climate provisions in Mr. Biden’s $2 trillion infrastructure bill, such as renewable power and electric vehicle programs. Ms. McCarthy hopes to push the infrastructure bill further, possibly by mandating that power companies produce a certain percentage of their electricity from renewable sources such as wind and solar. That will be a tough sell to many Republicans — but if it passes Congress, it could stand as the Biden administration’s permanent climate legacy, even if other rules are swept away by future presidents. “What Gina succeeds in pulling together is essential to our ability to have credibility in the world,” John Kerry, a former secretary of state and now Mr. Biden’s international climate envoy, said in January. “And nobody knows the details better than she does, and nobody is going to be more effective in corralling everybody to move in the same direction.” Ms. McCarthy, who spent the Trump administration first as a visiting fellow at Harvard and then as the head of the Natural Resources Defense Council, an advocacy group, said that, for the most part, she didn’t take the demolition of her work personally. “But I was offended,” she said in a recent interview. She said she poured enormous effort into creating Obama-era rules that could pass muster with the courts and ease into effect, only to watch them undone by Trump-era climate rollbacks that were slapped together, rife with spelling and math errors, and then promptly bogged down in court. “It was almost embarrassing,” she said. “It was naïve. It was so poorly written. It had political statements in it. It was just outrageous.” There was, however, some comfort in that. “I knew there was no way this would stand the test of time,” she said. “I knew that it could be rebuilt.” Ms. McCarthy’s friends say she is driven to build back a climate legacy that will outlast her second round in government. “She was angry, there’s no question about that,” said Mitchell Bernard, president of the Natural Resources Defense Council. “I heard many an expletive exit her mouth about what was going on in the government.” During the 2020 presidential campaign, Ms. McCarthy worked with liberal activists to push Mr. Biden to embrace a far more ambitious climate plan than he first proposed — and to make it the centerpiece of his governing agenda. It was Ms. McCarthy who was saying, “We absolutely can go bigger and should be asking for more,” said Evan Weber, the political director of Sunrise Movement, the progressive environmental group. “She wanted us to see the connections between environmental justice and racism and what was happening between Covid and the environmental crisis, and I thought, ‘Damn, that sounds like an activist.’” When Mr. Biden asked her to join his White House, Ms. McCarthy said she was initially reluctant. But when he embraced much of the rhetoric and policies of the party’s left, she was won over. “When President, then candidate, Biden, made the connection between climate and health and environmental and racial justice, and he framed it in terms of what needed to be done after the pandemic for job growth, it just — it owned me,” she said. “It got me out of the drudgery of climate always being a planetary burden and a horrible potential future and brought it into a framing that to me, energized it.” Republicans have taken notice, and they are not happy. “For almost two months now, unaccountable czar Gina McCarthy has been working both behind the scenes and in front of the press to lay the groundwork for the Biden administration’s agenda,” Senator Shelly Moore Capito of West Virginia, the ranking Republican on the Senate Environment Committee, said last month. “She’s wielding her power publicly to make it clear who’s calling the shots and directing the troops.” Ms. McCarthy, who has worked as a state and federal environmental regulator for nearly 40 years, is used to attacks from Republicans, and from the heads of the polluting industries that she has spent a career trying to rein in. But over those decades, she has won the grudging respect of some chief executives who have met her across negotiating tables. “She was always willing to roll up her sleeves and dig into issues and take it seriously,” said Jeffrey Holmstead, a lawyer representing fossil fuel companies, who also served as a top E.P.A. official in the George W. Bush administration. “She doesn’t suffer fools lightly, but everybody always felt they had a fair hearing.” He added, “From the president’s perspective, she is the ideal person in this job.” Ms. McCarthy grew up in a working-class Irish Catholic family, just outside of Boston. Her mother worked in a doughnut factory and her father, a teacher, was in a union — a background that she says has served her well in building strong relationships both with her current boss and with some of the Republicans and union groups whose support she hopes to win. She spent 25 years as a health and environmental-protection official for Massachusetts, working for five governors, including Mitt Romney, a Republican who assigned her to write a state climate-change plan. Now Senator Romney is among a handful of Republicans whom Mr. Biden sees as possible votes for his infrastructure bill. She is also drawing from her working-class background to woo union leaders as she prepares to reinstate tough new rules on emissions from cars and coal-fired power plants, the nation’s two largest sources of greenhouse pollution. Coal workers attacked Ms. McCarthy’s Obama-era climate rules as a “war on coal” and turned out in support of Mr. Trump, but this week, Cecil E. Roberts, the president of the United Mine Workers of America, said that his members would accept a transition away from fossil fuels in exchange for heavy government investment in new jobs in renewable energy, spending on technology to make coal cleaner and financial aid for miners who lose their jobs — similar to some of the provisions in Mr. Biden’s infrastructure package. But autoworkers are worried: The White House climate plan envisions a future in which most Americans drive zero-emission electric vehicles, but building an electric vehicle requires about a third fewer workers than building a traditional combustion-engine vehicle. “I’m really impressed with her knowledge of what working life is for an autoworker,” said Rory Gamble, president of the United Auto Workers, who has Ms. McCarthy’s cellphone number. “In sister McCarthy we find a well-educated ear who is in tune with what we are facing. I appreciate knowing that she has labor roots.” But, he said, she has yet to persuade him that new pollution rules won’t cost jobs. “The hurdle, and I’ve shared this with Gina, is if the government is going to get into this and invest money in this, there has to be assurances that this work stays in America, with good wages and good benefits, and the workers can organize. That’s a lot of what-ifs there.” Source link Orbem News #agenda #Biden #Climate #Gina #McCarthy #Pushing #Stick

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hollachrdnc · 5 years

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ATTENTION USASF MEMBERS...THIS JUST IN FROM @usasf_cheer @usasf_dance . . . Good afternoon, It has come to our attention that a recently released New York Times article (see link below) covering the Jeffrey Epstein investigation alleges underage dancers were recruited from dance studios in New York City as part of Mr. Epstein’s sexual exploitation schemes. To the best of our knowledge, no All Star cheerleaders or dancers were targeted but these accusations are worrisome and reason for the USASF to reach out to our members for awareness. The USASF strives to keep all All Star athletes safe through required background checks, SafeSport training, the implementation of the Athletic Performance Standards and partnerships with organizations that endeavor to protect children. Stacy Pendarvis, Program Director for The Monique Burr Foundation for Children, tells us “the recent news about Jeffrey Epstein may be alarming, but it should not be surprising. Anywhere there are children and teens, predators will attempt to infiltrate. The key to truly protecting youth (athletes) is to be proactive instead of reactive. There is no one in youth sports doing that better than USASF leadership and member clubs. The Monique Burr Foundation for Children is proud to partner with USASF on this important initiative to protect your athletes. Remember, awareness + action = prevention!” Together we can keep our sport safe for all those who choose to participate. It is up to all of us to remain vigilant to truly keep predators out of All Star. Please click here to help educate yourself about how to report misconduct or suspected misconduct. https://www.nytimes.com/2019/09/03/nyregion/jeffrey-epstein-dance-victims.html?utm_campaign=Worlds&utm_source=hs_email&utm_medium=email&utm_content=76451408&_hsenc=p2ANqtz-_KtIXr-yg2EJEnYHIKcEZAuOaQb1jMNe_16Mge5uYbmyfDcgiivJN5KIdEgxu5n18Fqb2X18HC3JCe9qodhmdY_YcYazkUgGo5ma5oBUIHkEzCZOA&_hsmi=76451408 https://www.instagram.com/p/B2AMXAOH41g/?igshid=1vxdj1d3pxpla

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atlasleadershipresearch · 4 years

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Campus Incivility and Free Speech: A Contemporary Dilemma

by Robert E. Cipriano and Jeffrey L. Buller

Reprinted with permission from Academic Leader https://www.academic-leader.com/topics/institutional-culture/campus-incivility-and-free-speech-a-contemporary-dilemma. For subscription information to Academic Leader, see https://www.magnapubs.com/product/subscription/academic-leader/

“Laws alone cannot secure freedom of expression; in order that every manpresent his views without penalty there must be a spirit of tolerance in the entirepopulation. Such an ideal of external liberty can never be fully attained but mustbe sought unremittingly if scientific thought, and philosophical and creativethinking in general are to be advanced as far as possible.”

—Albert Einstein (1950, p. 13)

Imagine this scenario. Dr. Upton O. Goode, chair of the Department of Organic Astral Therapyat Dicey Incline State University (DISU), has invited Ms. Stuckin D’Past, the founder of agroup that’s widely perceived as advocating white nationalism, to deliver a campus addresson current challenges facing society. Dr. Goode has required all students majoring in organic astral therapy to attend, opened his own courses to Ms. D’Past for further discussion, and invited all other students to attend the public lecture.

The title that Ms. D’Past has chosen for her speech, “The Crime of Diversity,” has attracted concern from students, faculty, and administrators alike. A large majority of those on campus believe that the speech will support the agenda for white nationalism and encourage violence. The League of Students for Diversity (LSD)has planned a massive protest at the event and reached out to DISU students, employees, and members ofthe community to join them. LSD has stated in emails that it intends to disrupt the event—by any and allmeans possible—to stop Ms. D’Past from speaking.

Mr. Barry D. Hatchett, the president of DISU, is afraid that if the speech is allowed to proceed, violence will erupt that his campus’s security service will be unable to contain. The rhetoric around Ms. D’Past’s appearance has so become strident that the local mayor and town council believe public safety may be at risk. Several outside groups, both supportive of and opposed to Ms. D’Past’s group, have threatened to appear at the public event and advocate for their causes. President Hatchett is on the verge of canceling the presentation entirely when he receives an email from Dr. Goode indicating that any attempt by the administration to block Ms. D’Past from speaking would be regarded as violating the First Amendment and its guarantees of free speech as well as Dr. Goode’s own academic freedom.

An official statement by Ms. D’Past said that she hoped all “right thinking” members of the community wouldcome to the event and demonstrate their support of her right to speak and opposition to the “fascist tactics” of groups like LSD. Hearing the responses to this statement from listeners to call-in radio, Mr. Hatchettbecomes even more concerned about what might happen at the public event.

President Hatchett knows that he must act quickly since the day of Ms. D’Past’s arrival is rapidly approaching. He calls his cabinet into a joint session with his governing board and tries to work out a plan for how to proceed. The group makes the following accommodations. DISU will

budget an additional $250,000 (taken from funds originally set aside for staff bonuses) for police to

attend and monitor the public event and do what they can to prevent violence;

offer Ms. D’Past a “safe space” to deliver her presentation;

publicize the fact that the First Amendment does not provide anyone with the right to disrupt campus activities;

establish bias response teams (BRTs) to monitor this event and similar activities in the future that have the potential for resulting in violence; and

take a public stance that freedom of speech allows people to state their opinions without interference, retaliation, or punishment from the government.

Questions

1. What is your opinion of this proposed solution?

2. What would you do if you were the following people?

a. President Hatchett b.Dr. Goode

c. The president of DISU’s faculty senate

d. The president of the LSD

e. The chair of the governing board

f. The director of campus safety at DISU

g. The mayor of the city where DISU is located

h. The chief of police of the city where DISU is located

Background

We’ll suggest a few possible answers to these questions, but first let’s look at some background for ourhypothetical case study. What is now known as the Free Speech Movement (FSM) began in 1964 as a series of protests at the University of California, Berkeley. These protests reached their climax on December 2,1964, when, after a rally featuring the folk singer and activist Joan Baez, students occupied the administration building. This sit-in led to the arrest of 773 people. Many faculty members at the university supported the students and provided them with bail money. Clark Kerr, president of the University of California during these protests, refused to expel the student activists, arguing, “The University is not engaged in making ideas safe for students. It is engaged in making students safe for ideas. Thus it permits the freest expression of views before students, trusting to their good sense in passing judgment on these views. Only in this way can it best serve American democracy” (Berdahl, 2004). Kerr was fired three weeks afterRonald Reagan took office as the governor of California.

The issue of free speech on college and university campuses is as old as education itself and as current as today’s news. Institutions of higher education often find themselves torn between their desire to create environments where students and professors remain physically safe and their mission to protect academic freedom and the right of free speech. What can academic leaders do to increase the likelihood that constructive conflicts between ideas don’t escalate into destructive, violent acts?

Hate speech

One place to begin is with an understanding of what hate speech is and what it isn’t. Some people use the expression hate speech to label any ideas they find difficult, troubling, controversial, or offensive. But there isno such thing as a right, either constitutional or academic, not to be offended. Legally, hate

speech refers to expressions that insult or demean a person or a group of people on the basis of such attributes as race, religion, ethnic origin, sexual orientation, disability, and gender. But hate speech is not required to be speech per se. Nonverbal symbols may also be used to express hatred. For example, althoughthe United States Supreme Court has ruled that burning the American flag (Texas v. Johnson, 491

U.S. 397 1989) and wearing armbands as an act of protest (Tinker v. Des Moines Independent Community School District, 393 U.S. 503 1969) are examples of protected speech, destruction of private property or theuse of these same nonverbal symbols to threaten someone is not. As a result, painting a swastika on the interior wall of your home library is permitted, but painting a swastika on the wall of your public library is not. Free speech also does not protect those who engage in defamation of character, child pornography, harassment, invasion of privacy, and other types of expression already restricted by law. In addition, colleges and universities retain the right to establish the time, place, and manner in which protests or other potentiallydisruptive expressions of free speech may occur.

In US law, hate speech is not regarded as a separate category of speech. Whether one likes it or not, mosthate speech is protected under the First Amendment as a variety of “unpopular speech.” A number of countries (including Germany) do have laws prohibiting incitement to racial or ethnic hatred, but the United States isn’t one of them. The rationale for protecting unpopular speech is that there is simply no practicalway to regulate hate speech without censoring ideas, and censoring ideas should be particularly

offensive to everyone, especially those who work in higher education. Gresham’s Law in economics states that “bad money drives out good.” But a type of Reverse Gresham’s Law applies to higher education: good ideas drive out bad ideas. As the Supreme Court Justice Louis D. Brandeis established in the case

of Whitney v. California, “If there be time to expose through discussion, the falsehoods and fallacies, to avertthe evil by the processes of education, the remedy to be applied is more speech, not enforced silence”(Whitney v. California, 274 U.S. 357 1927). In other words, the solution to “bad speech” is not less speech butmore.

It is important to remember, too, that in the United States, speech protections under the First Amendment apply only to governmental speech. So the law works differently for public than it does for private universities. A religious college or seminar is legally entitled to restrict what is said or taught on its campus. But if a privateschool advertises itself as an environment that is open to all ideas or where opinions may be freely exchanged,it has then provided a contractual obligation to permit free speech. So if someone

violates the right of free speech at a public university, it could become a federal matter. If, on the other hand, someone violates the right of free speech at a private university, it could become a civil matter. Theuniversity is sued, not prosecuted. (See, for example, “First Amendment on Private Campuses,” 2015, and Dynia & Hudson, 2017.)

Conclusions

Readers will undoubtedly have their own ideas about how they would handle the hypothetical situation atDISU. We all approach challenges differently, based on our own experience and the traditions at our universities. But here is one possible way of proceeding. First, it’s important to identify where the central issue in this case study lies. People merely believe that Ms. D’Past’s speech will support the agenda for whitenationalism and encourage violence, but the LSD has explicitly threatened in emails that it intends to disruptthe event by any and all means possible. Canceling the public event would thus involve prior restraint of freespeech, which is illegal, but LSD’s documented incitement of others to violence or lawless action is notprotected free speech and may suitably be investigated by the police.

Second, while President Hatchett is suitably concerned about the safety of his faculty and students, many of the solutions proposed by his cabinet and governing board take only a short-term approach. With the exception of creating Bias Response Teams (themselves questionable since they appear to be designed forprior restraint of free speech), none of the proposed actions involve substantive, long-

term approaches. DISU should also consider developing publications or web pages that explain what free speech is, what “time, place, and manner” restrictions are, and how the institution will both protect free speech and address expressions that are deemed threats or incitements to violence. In other words, DISU should make this challenge a teachable moment. A good example of an institution that has created this typeof website is North Carolina State University (Free Speech, 2020).

Third, President Hatchett should consider launching a program that educates students—as well as facultymembers and administrators—on how differences of opinion can be expressed constructively and how todiscuss sensitive or contentious issues. Excellent examples of this approach are Widener University’s Common Ground Initiative (Common Ground, n.d.), the University of Alaska at Anchorage’s programs Start Talking(Landis, 2008) and Toxic Friday (Roderick, 2016), and Florida Atlantic University’s Agora Project (The FAU Agora Project, n.d.).

Free speech on college and university campuses will continue to present significant challenges to academic leaders. As with so many of today’s issues, there is no “one size fits all” strategy that can bring about a perfectaccommodation between campus civility and free speech. Addressing the challenges we all face as

academic leaders will require a great deal of effort, compromise, and mutual understanding on the part of students, faculty members, and administrators alike if we want to promote truly free scholarly inquiry whilesimultaneously creating a culture of respect for those who oppose other people’s ideas.

References

Berdahl, R. M. (2004). Clark Kerr memorial. Retrieved

from https://chancellor.berkeley.edu/chancellors/berdahl/speeches/clark-kerr-memorial

Common Ground: Widener University. (n.d.) Retrieved from https://www.widener.edu/about/points-pride/common-ground

Dynia, P. A., & Hudson, D. L. (2017, September). Rights of students. The First Amendment

Encyclopedia. Retrieved from https://mtsu.edu/first-amendment/article/931/rights-of-students

Einstein, A. (1950). Albert Einstein: Out of my later years. New York, NY: Philosophical Library.

The FAU Agora Project: Florida Atlantic University. (n.d.) Retrieved from http://www.fau.edu/agora

First Amendment on private campuses. (2015, December 1). Harvard Civil Rights-Civil Liberties Law Review. Retrieved from https://harvardcrcl.org/first-amendment-on-private-campuses

Free Speech: North Carolina State University. Retrieved from https://www.ncsu.edu/free-speech

Landis, K. (Ed.) (2008). Start talking: A handbook for engaging difficult dialogues in higher education. Anchorage, AK: The University of Alaska Anchorage and Alaska Pacific University.

Roderick, L. (Ed.) (2016). Toxic Friday: Resources for addressing faculty bullying in higher education. Anchorage, AK: The University of Alaska Anchorage.

Robert E. Cipriano, EdD, and Jeffrey L. Buller, PhD, are senior partners with ATLAS—Academic Training, Leadership, & Assessment Services. Reach them at [email protected] and [email protected], respectively.

#atlasleadership #buller #cipriano #civility #collegiality #academic freedom

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biofunmy · 5 years

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$500 to Apply for an Apartment? So Much for the $20 Cap

Within a few days of beginning her apartment hunt this summer, Natalie Miscolta-Cameron got lucky: She found a one-bedroom walk-up she could afford on East 96th Street in Manhattan.

But she was surprised when the landlord’s broker asked her to pay a $100 application fee, followed by a $400 “processing fee,” even though such upfront fees had been capped at $20 as a result of new rent laws passed by state lawmakers in June.

“It looked like a bit of a red flag,” said Ms. Miscolta-Cameron, 33, a nanny and skin care entrepreneur who had read about the rent reforms in the news. “But it wasn’t really negotiable if I wanted this apartment.”

When New York State enacted landmark changes to strengthen tenant protections and curb housing costs, progressive lawmakers heralded the legislation as a once-in-a-generation victory for renters that would offer immediate relief to the thousands of people searching for an apartment over the summer.

Instead, some of the new laws have confused tenants and landlords at the peak of New York City’s rental season.

Landlords say lawmakers rushed the new statutes through the Legislature, resulting in ambiguities. As a consequence, brokers citywide are continuing to charge renters hundreds of dollars in application fees, hurting the people the laws were meant to protect.

State regulators have yet to step in and have been slow to offer clarity on the interpretation and enforcement of the new laws. Progressive lawmakers have been quick to accuse the real estate industry of misconstruing the laws.

“It has become a trap for the unwary,” said Mitchell Posilkin, general counsel at the Rent Stabilization Association, a group that represents 25,000 landlords. “Even the most sophisticated owners who we deal with are really perplexed about how they’re supposed to implement many of these provisions.”

The changes, propelled by the Democratic takeover of both houses of the state Legislature, sought to stem the loss of regulated apartments in New York City and to address inequality driven by rising housing costs.

They eliminated vacancy decontrol, which had allowed landlords to take apartments out of rent regulation when the rent rose above a certain threshold. They limited security deposits to one month’s rent and gave tenants in eviction proceedings more time to hire a lawyer and pay overdue rent.

The legislation was a humiliating defeat for the real estate industry, one of the most influential lobbies in Albany. Industry leaders warned the changes would devastate the housing stock, and two groups recently filed a challenge to the laws.

Now many landlords are perplexed about whether they can even charge tenants who are pet owners an additional security deposit. Owners of co-op apartments are concerned about changes that were aimed at rental buildings, but could affect co-op boards and have expensive consequences for co-op tenants.

For example, the new law states that landlords can no longer collect fees to cover the “processing, review or acceptance of an application.” They are also barred from charging more than $20 to cover background and credit checks of potential tenants.

But the law doesn’t specify whether brokers, who often act on behalf of landlords, are also bound by those new rules. So many brokers have continued to charge application fees, which are often nonrefundable and, along with broker fees can be expensive hurdles to securing housing in the city.

“This issue about the application fees, it just highlights ambiguities in the legislation,” said, Carl Hum, the general counsel for the Real Estate Board of New York, or REBNY, an influential trade group. “It reflects what happens when there is not enough debate or scrutiny over a law.”

Even though legislators held statewide public hearings on the proposed rent laws, the package of rent rules was unveiled and voted on in a matter of days, right as the session came to an end, catching real estate lobbyists by surprise.

Mr. Hum said a strict reading of the law suggests brokers are indeed allowed to charge application fees. In August, The City, a local news outlet, reported brokers were charging more than $20 for application fees. REBNY subsequently emailed its members encouraging brokers to err on the side of caution and avoid collecting excessive fees until state regulators at the Division of Housing and Community Renewal weighed in.

Citi Habitats, the brokerage firm that charged Ms. Miscolta-Cameron the fees, did not respond to multiple requests for comment.

Some legislators have been quick to accuse the real estate industry of intentionally misleading renters.

“This deceptive practice is costing tenants money, and I would bet landlords are banking on the fact that not every tenant knows what the new law is,” said Assemblywoman Linda B. Rosenthal, a Democrat whose district includes the Upper West Side of Manhattan.

“The intent clearly was not to have a tenant applicant pay more than $20, regardless of who it is they are paying the money to,” she added.

Ms. Rosenthal said Manhattan residents have called her office about application fees of up to $700, and she is considering legislation to impose steep fines on landlords who violate the new provision. Some of her constituents in rent-controlled apartments have said their landlord is still charging them for fuel costs, even though such charges were explicitly banned in the recent laws.

State Senator Brian P. Kavanagh, the Democratic chairman of the Committee on Housing, Construction and Community Development, urged patience, adding that regulatory agencies should offer guidance on the law soon.

“It was our intent to reshape the full range of laws that are governing the relationships between landlords and tenants,” he said. “Obviously something this complicated will require some time before people are properly educated about their obligations under the new laws.”

A spokesman for the state’s Division of Housing and Community Renewal, which enforces laws related to rent-regulated apartments, said it was “working diligently” to craft a new regulatory framework.

But the division does not oversee apartments where rents are unregulated, which make up half of New York City’s rental stock. Instead, tenants of market-rate apartments can contact the New York attorney general’s office or bring their landlord to court if they suspect unlawful activity, like high fees.

Some tenants have found success by informing brokers of the law change.

After years of living in the same studio apartment in Flatbush, Brooklyn, David Cohen and his wife began searching for a bigger apartment this summer, partly to make space for their 2-year-old.

They found a two-bedroom in Park Slope. They paid $120 in application fees to Corcoran, a brokerage firm, and $37.60 for a credit and background check to TenantAlert, an online tenant-screening platform.

“We were in a bind because we saw a place we liked,” Mr. Cohen, 52, said. “I had a feeling it wasn’t right, but we had to pay the fees to apply and get in there.”

They quickly withdrew from the application process, however, when the broker asked for a higher rent than originally advertised. Mr. Cohen told the broker he had contacted the state government and The New York Times because he believed the fees he was charged were unlawful; he was subsequently issued a refund.

In a statement, a representative of the Corcoran Group said it had recently “changed its practice” after the latest guidance from REBNY urging brokers to abide by the $20 ceiling on fees.

The new rent laws may have other unintended consequences: The new limits on application fees and security deposits (now capped at one month’s rent) could possibly apply to the purchase of co-op apartments.

The new law states that the caps apply in part to landlords and “lessors” — which could include the cooperative boards of tenants that typically run co-op buildings, according to Jeffrey Schwartz, a real estate lawyer, who said the new restrictions significantly curtail the charges co-op boards are allowed to collect from buyers.

He said co-op boards typically charge $500 to $650 in application fees and collect a deposit equal to several months’ worth of maintenance charges. Now, co-op boards might decide to collect higher monthly charges from existing owners to offset the new restrictions on those fees, he said.

“I think when people first heard about the changes and started to digest the changes, a lot of folks thought we were just talking about rental apartments,” Mr. Schwartz said. “Now it’s uncertain. It’s causing a lot of uncertainty out there in the co-op world.”

And for Jon Lucente, the co-owner of the Village Solars Apartments in Ithaca, N.Y., the new restrictions on security deposits raise questions about whether he can continue to charge pet-owning tenants a $400 partially refundable deposit to cover damages, like scratched floors or chewed wall corners, on top of the regular security deposit. The new cap, he said, could mean higher rents for tenants.

“We’re trying to figure out what our obligation is,” Mr. Lucente said. “It’s not clear.”

Sahred From Source link Real Estate

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#IFTTT #WordPress

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bountyofbeads · 5 years

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The Day Jeffrey Epstein Told Me He Had Dirt on Powerful People https://www.nytimes.com/2019/08/12/business/jeffrey-epstein-interview.html

In Short-Staffed Jail, Epstein Was Left Alone for Hours; Guard Was Substitute

Only one of the two people guarding Jeffrey Epstein normally worked as a correctional officer, according to three prison officials.

By Ali Watkins, Katie Benner and Danielle Ivory | Published August 12, 2019 | New York Times | Posted August 12, 2019 |

One of the two people guarding Jeffrey Epstein when he apparently hanged himself in a federal jail cell was not a full-fledged correctional officer, and neither guard had checked on Mr. Epstein for several hours before he was discovered, prison and law-enforcement officials said.

Those details emerged on Monday as Attorney General William P. Barr sharply criticized the management of the federal jail in Manhattan where Mr. Epstein, who was accused of sexually abusing dozens of teenage girls, was found dead on Saturday morning.

“We are now learning of serious irregularities at this facility that are deeply concerning and demand a thorough investigation,” said Mr. Barr, who, as the country’s top law enforcement official, is responsible for federal prisons.

“We will get to the bottom of what happened,” he added. “There will be accountability.”

Mr. Barr did not offer additional information about the problems at the jail, but questions have been raised about why Mr. Epstein had been taken off suicide watch just days after apparently trying to kill himself and then was left alone in a cell without close supervision.

Mr. Barr also said Mr. Epstein’s suicide would not halt the investigation into other people who might have helped him traffic teenage girls for sex. On Monday, F.B.I. agents and New York detectives raided Mr. Epstein’s private, 70-acre island in the United States Virgin Islands, looking for documents, photographs, videos, computers and other materials, people briefed on the matter said.

“Any co-conspirators should not rest easy,” Mr. Barr said. “The victims deserve justice and they will get it.”

No correctional officer had checked on Mr. Epstein for several hours before he was found, even though guards were supposed to look in on prisoners in the protective unit where he was housed every half-hour, a prison official and a law-enforcement official with knowledge of the detention said, speaking on the condition of anonymity.

In addition, only one of the two people guarding the Special Housing Unit — known as 9 South — normally worked as a correctional officer, according to three prison officials with knowledge of the case. The officials did not say what sort of job the other employee usually worked.

A New York Times investigation published last year detailed this practice, under which federal prisons are so strapped for correctional officers that they regularly compel teachers, nurses, secretaries and other support staff members to step in. The practice has grown at some prisons as the Trump administration has curtailed the hiring of correctional officers.

Many of these staff members only receive a few weeks’ training in correctional work, and, while required by contract to serve as substitutes, are often uncomfortable in the roles. Even workers who previously held correctional positions have said that the practice was unsettling because fewer colleagues were on hand to provide backup if things turned ugly.

Mr. Epstein’s death came just two weeks after he had been taken off suicide watch at the Metropolitan Correctional Center in Lower Manhattan, where he apparently had tried to kill himself on July 23, officials said.

He was being held at the detention center awaiting trial on federal sex-trafficking charges. He had been accused of luring dozens of underage girls into giving him erotic massages and engaging in other sexual acts at his mansions in New York City and Palm Beach, Fla.

“I was appalled, and indeed the whole department was, and frankly angry, to learn of the M.C.C.’s failure to adequately secure this prisoner,” Mr. Barr said at a conference in New Orleans for the Grand Lodge Fraternal Order of Police.

That Mr. Epstein was taken off suicide watch and left unsupervised long enough to have apparently taken his own life has sparked a public outcry, prompting criticism of the Justice Department and the Bureau of Prisons, which operates the Manhattan jail. Mr. Barr announced Saturday that both the F.B.I. and the Justice Department’s inspector general would open respective probes into the circumstances surrounding Mr. Epstein’s death.

The Bureau of Prisons declined to comment.

Union officials said that for more than a year officials in Washington had been made aware of a severe staffing shortage at the facility in the wake of a federal hiring freeze. One of the guards on the unit where Mr. Epstein died had been working overtime for five straight days, while the other had been forced to work overtime that day, a union official said.

“The Council of Prison Locals has been sounding the alarm about the hiring freeze,” said Eric Young, the president of the union that represents federal prison workers across the country.

An autopsy of Mr. Epstein’s body was conducted by the city’s medical examiner on Sunday, but a final determination is pending. At the request of Mr. Epstein’s lawyers, a private pathologist was permitted to attend the examination, which the city’s chief medical examiner, Dr. Barbara Sampson, called a “routine practice.”

Since leaving suicide watch on July 29, Mr. Epstein had been housed in 9 South, a secure housing unit in one of the prison’s most restrictive wings. His lifeless body was found in his cell around 6:30 a.m., by a guard conducting morning rounds. He had used a bedsheet to hang himself, one official said.

Mr. Epstein was being housed alone. Under normal procedures, he should have had a cellmate, but the inmate housed with him had been recently transferred and had not been replaced, several officials said.

According to Bureau of Prisons' policy, several high-ranking prison officials would have had to have approved Mr. Epstein’s removal from the facility’s suicide prevention program, including the prison’s chief psychologist.

The Day Jeffrey Epstein Told Me He Had Dirt on Powerful People

By James B. Stewart | Published Aug. 12, 2019 | New York Times | Posted August 12, 2019 |

Almost exactly a year ago, on Aug. 16, 2018, I visited Jeffrey Epstein at his cavernous Manhattan mansion.

The overriding impression I took away from our roughly 90-minute conversation was that Mr. Epstein knew an astonishing number of rich, famous and powerful people, and had photos to prove it. He also claimed to know a great deal about these people, some of it potentially damaging or embarrassing, including details about their supposed sexual proclivities and recreational drug use.

So one of my first thoughts on hearing of Mr. Epstein’s suicide was that many prominent men and at least a few women must be breathing sighs of relief that whatever Mr. Epstein knew, he has taken it with him.

During our conversation, Mr. Epstein made no secret of his own scandalous past — he’d pleaded guilty to state charges of soliciting prostitution from underage girls and was a registered sex offender — and acknowledged to me that he was a pariah in polite society. At the same time, he seemed unapologetic. His very notoriety, he said, was what made so many people willing to confide in him. Everyone, he suggested, has secrets and, he added, compared with his own, they seemed innocuous. People confided in him without feeling awkward or embarrassed, he claimed.

I’d never met Mr. Epstein before. I had contacted him because my colleagues and I had heard a rumor that he was advising Tesla’s embattled chief executive, Elon Musk, who was in trouble after announcing on Twitterthat he had lined up the funding to take Tesla private.

The Securities and Exchange Commission began an investigation into Mr. Musk’s remarks, which moved markets but didn’t appear to have much basis in fact. There were calls for Mr. Musk to relinquish his position as Tesla’s chairman and for Tesla to recruit more independent directors. I’d heard that Mr. Epstein was compiling a list of candidates at Mr. Musk’s behest — and that Mr. Epstein had an email from Mr. Musk authorizing the search for a new chairman. Mr. Musk and Tesla vehemently deny this.

When I contacted Mr. Epstein, he readily agreed to an interview. The caveat was that the conversation would be “on background,” which meant I could use the information as long as I didn’t attribute it directly to him. (I consider that condition to have lapsed with his death.)

He insisted that I meet him at his house, which I’d seen referred to as the largest single-family home in Manhattan. This seems plausible: I initially walked past the building, on East 71st Street, because it looked more like an embassy or museum than a private home. Next to the imposing double doors was a polished brass plaque with the initials “J.E.” and a bell. After I rang, the door was opened by a young woman, her blond hair pulled back in a chignon, who greeted me with what sounded like an Eastern European accent.

I can’t say how old she was, but my guess would be late teens or perhaps 20. Given Mr. Epstein’s past, this struck me as far too close to the line. Why would Mr. Epstein want a reporter’s first impression to be that of a young woman opening his door?

The woman led me up a monumental staircase to a room on the second floor overlooking the Frick museum across the street. It was quiet, the lighting dim, and the air-conditioning was set very low. After a few minutes, Mr. Epstein bounded in, dressed casually in jeans and a polo shirt, shook my hand and said he was a big fan of my work. He had a big smile and warm manner. He was trim and energetic, perhaps from all the yoga he said he was practicing. He was undeniably charismatic.

Before we left the room he took me to a wall covered with framed photographs. He pointed to a full-length shot of a man in traditional Arab dress. “That’s M.B.S.,” he said, referring to Mohammed bin Salman, the crown prince of Saudi Arabia. The crown prince had visited him many times, and they spoke often, Mr. Epstein said.

He led me to a large room at the rear of the house. There was an expansive table with about 20 chairs. Mr. Epstein took a seat at the head, and I sat to his left. He had a computer, a small blackboard and a phone to his right. He said he was doing some foreign-currency trading.

Behind him was a table covered with more photographs. I noticed one of Mr. Epstein with former President Bill Clinton, and another of him with the director Woody Allen. Displaying photos of celebrities who had been caught up in sex scandals of their own also struck me as odd.

Mr. Epstein avoided specifics about his work for Tesla. He told me that he had good reason to be cryptic: Once it became public that he was advising the company, he’d have to stop doing so, because he was “radioactive.” He predicted that everyone at Tesla would deny talking to him or being his friend.

He said this was something he’d become used to, even though it didn’t stop people from visiting him, coming to his dinner parties or asking him for money. (That was why, Mr. Epstein told me without any trace of irony, he was considering becoming a minister so that his acquaintances would be confident that their conversations would be kept confidential.)

If he was reticent about Tesla, he was more at ease discussing his interest in young women. He said that criminalizing sex with teenage girls was a cultural aberration and that at times in history it was perfectly acceptable. He pointed out that homosexuality had long been considered a crime and was still punishable by death in some parts of the world.

Mr. Epstein then meandered into a discussion of other prominent names in technology circles. He said people in Silicon Valley had a reputation for being geeky workaholics, but that was far from the truth: They were hedonistic and regular users of recreational drugs. He said he’d witnessed prominent tech figures taking drugs and arranging for sex (Mr. Epstein stressed that he never drank or used drugs of any kind).

I kept trying to steer the conversation back to Tesla, but Mr. Epstein remained evasive. He said he’d spoken to the Saudis about possibly investing in Tesla, but he wouldn’t provide any specifics or names. When I pressed him on the purported email from Mr. Musk, he said the email wasn’t from Mr. Musk himself, but from someone very close to him. He wouldn’t say who that person was. I asked him if that person would talk to me, and he said he’d ask. He later said the person declined; I doubt he asked.

When I later reflected on our interview, I was struck by how little information Mr. Epstein had actually provided. While I can’t say anything he said was an explicit lie, much of what he said was vague or speculative and couldn’t be proved or disproved. He did have at least some ties to Mr. Musk — a widely circulated photo shows Mr. Musk with Ghislaine Maxwell, Mr. Epstein’s confidante and former companion, at the 2014 Vanity Fair Oscars party. But it seemed clear Mr. Epstein had embellished his role in the Tesla situation to enhance his own importance and gain attention — something that now seems to have been a pattern.

About a week after that interview, Mr. Epstein called and asked if I’d like to have dinner that Saturday with him and Woody Allen. I said I’d be out of town. A few weeks after that, he asked me to join him for dinner with the author Michael Wolff and Donald J. Trump’s former adviser, Steve Bannon. I declined. (I don’t know if these dinners actually happened. Mr. Bannon has said he didn’t attend. Mr. Wolff and a spokeswoman for Mr. Allen didn’t respond to requests for comment on Monday.)

Several months passed. Then early this year Mr. Epstein called to ask if I’d be interested in writing his biography. He sounded almost plaintive. I sensed that what he really wanted was companionship. As his biographer, I’d have no choice but to spend hours listening to his saga. Already leery of any further ties to him, I was relieved I could say that I was already busy with another book.

That was the last I heard from him. After his arrest and suicide, I’m left to wonder: What might he have told me?

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deniscollins · 5 years

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How Jeffrey Epstein Used the Billionaire Behind Victoria’s Secret for Wealth and Women

What would you do if you were CEO of Victoria’s Secret and you were told that your personal financial adviser and trusted friend was posing as a Victoria Secret’s lingerie talent scout to lure women into personal modeling auditions and sexually assaulted them? Why? What are the ethics underlying your decision?

In May 1997, Alicia Arden, a model in California, was introduced to a man who identified himself as a talent scout for Victoria’s Secret. He invited her to his Santa Monica hotel room to audition for the brand’s catalog. When she arrived, Ms. Arden said, the man grabbed her, tried to undress her and said he wanted to “manhandle” her. Ms. Arden, then 27, fled in tears.

It was the type of crisis that should not have come as a complete surprise to leaders at L Brands, the parent company of Victoria’s Secret.

In the mid-1990s, two senior executives had discovered that the same man, a close adviser to the company’s chief executive, Leslie H. Wexner, was trying to pitch himself as a recruiter for Victoria’s Secret models. Mr. Wexner was alerted, according to the two executives.

It is unclear what if any action Mr. Wexner took in response. But the man — Jeffrey E. Epstein, a New York financier — had developed an unusually strong hold on Mr. Wexner, one of the country’s most influential corporate titans.

Within years of meeting Mr. Epstein, Mr. Wexner handed him sweeping powers over his finances, philanthropy and private life, according to interviews with people who knew the men as well as court documents and financial records.

Mr. Wexner authorized him to borrow money on his behalf, to sign his tax returns, to hire people and to make acquisitions. Over the years, Mr. Epstein obtained a New York mansion, a private plane and a luxury estate in Ohio — today valued at roughly $100 million all together — previously owned by Mr. Wexner or his companies. At the same time, he drove a wedge between Mr. Wexner and longtime associates and friends.

Virtually from the moment in the 1980s that Mr. Epstein arrived on the scene in Columbus, Ohio, where L Brands was based, Mr. Wexner’s friends and colleagues were mystified as to why a renowned businessman in the prime of his career would place such trust in an outsider with a thin résumé and scant financial experience.

It is a mystery that has taken on new importance in the weeks since federal prosecutors in New York charged Mr. Epstein, 66, with sex trafficking involving girls as young as 14.

And it is posing a potentially grave problem for L Brands, a publicly traded company whose brands include Victoria’s Secret and Bath & Body Works. Mr. Wexner, the longest-serving chief executive in the S&P 500 and L Brands’ largest shareholder, once praised Mr. Epstein as “a most loyal friend” with “excellent judgment and unusually high standards.”

What is clear is that during the period in which he worked closely with Mr. Wexner, Mr. Epstein became extraordinarily rich.

Representatives of Mr. Wexner and L Brands refused to share even basic details of the work that Mr. Epstein performed for Mr. Wexner.

“While Mr. Epstein served as Mr. Wexner’s personal money manager for a period that ended nearly 12 years ago, we do not believe he was ever employed by nor served as an authorized representative of the company,” said Tammy Roberts Myers, a company spokeswoman.

Ms. Myers said that, at the direction of the company’s board, L Brands recently hired lawyers “to conduct a thorough review” into the relationship. She declined to say what the investigation would entail.

Through a spokesman, Mr. Wexner, 81, declined repeated requests for an interview. In a letter this month to L Brands employees, he said he was “NEVER aware of the illegal activity charged in the indictment.”

“I would never have guessed that a person I employed more than a decade ago could have caused such pain to so many people,” he wrote.

Mr. Epstein pleaded not guilty to charges that he and his employees paid dozens of underage girls to engage in sex acts. He is being held without bail as he awaits trial. His lawyer, Martin G. Weinberg, declined to comment.

‘There Was Just Nothing There’

Mr. Wexner grew up in Ohio, where his parents owned a women’s apparel store, Leslie’s. Their son started The Limited in a Columbus shopping mall in 1963.

By the 1980s, Mr. Wexner was emerging as a force that would shape the American shopping mall — “The Merlin of the Mall,” as The New York Times would later describe him. His company was expanding its namesake chain, The Limited, as well as the retailer Express, while snapping up the likes of Henri Bendel and Lane Bryant.

Mr. Wexner, who would go on to buy Abercrombie & Fitch and launch Bath & Body Works, made his most important acquisition in 1982: an obscure company called Victoria’s Secret. He soon built it into a global behemoth that for decades would define many Americans’ perceptions of female sexiness.

Mr. Wexner wanted to diversify his personal investments beyond his retail chains. He was planning to build a luxury residential community in New Albany, Ohio, and also wanted to get more involved in the arts, philanthropy and Jewish causes, according to Robert Morosky, the former vice chairman of The Limited who resigned in 1987.

It was around then, in the mid-to-late-1980s, that Mr. Wexner and Mr. Epstein were introduced by a mutual acquaintance, an insurance executive named Robert Meister.

Mr. Epstein, a 30-something Coney Island native, didn’t fit the mold of financial adviser to the superwealthy. A college dropout, he had briefly taught math at the Dalton School in Manhattan and then worked at Bear Stearns, the investment bank. He told people that he was a tax expert and a fraud detective with a gift for devising sophisticated investment strategies.

After Mr. Meister’s introduction, Mr. Epstein started spending more and more time around Mr. Wexner, leaving longtime colleagues puzzled about why he was embracing this newcomer.

Mr. Morosky looked into Mr. Epstein’s background and was not impressed. “I tried to find out how did he get from a high school math teacher to a private investment adviser,” Mr. Morosky said. “There was just nothing there.”

Mr. Epstein’s formal role was to help manage Mr. Wexner’s fortune and to provide him with financial advice. The normal bread and butter of a financial adviser to a billionaire is to invest in all sorts of securities and assets, as well as hedge funds and private equity firms, pocketing a fee derived from any profits.

It isn’t clear that there was any official agreement detailing Mr. Epstein’s role or compensation. Representatives for Mr. Wexner and the company declined to answer questions about what investments Mr. Epstein made for Mr. Wexner, how any such investments performed and whether Mr. Epstein was ever audited or provided Mr. Wexner with documentation about the financial services he was providing.

“This whole thing has been a real mystery to me,” said Pete Halliday, a classmate of Mr. Wexner who helped him raise money when The Limited went public about 50 years ago. The Limited later became L Brands.

‘Manager of Fortune’

Longtime colleagues and friends of Mr. Wexner soon found themselves getting iced out of his life.

Jim Duberstein for decades attended Ohio State University football games and dinner parties with Mr. Wexner; they even invested in real estate together. Shortly after Mr. Epstein showed up, he was late for a meeting with Mr. Duberstein at Mr. Wexner’s office. When Mr. Epstein did arrive, he put his feet up on Mr. Wexner’s desk, Mr. Duberstein recalled. Mr. Wexner joined the meeting by phone and instructed Mr. Epstein to treat his old friend like family.

Soon, though, Mr. Duberstein and Mr. Epstein had a disagreement — Mr. Duberstein doesn’t recall what it was about — and Mr. Wexner cut Mr. Duberstein out of his life. He repeatedly called and sent letters to Mr. Wexner, hoping to rekindle the friendship. Mr. Wexner never replied.

“His allegiance apparently went to Epstein,” Mr. Duberstein said. “Les Wexner, until the time he quit talking to me, was probably the finest person I ever met in my life. He was the most charitable, the most generous, the most understanding. I have nothing but praise for him — until he just cut his umbilical cord.”

From the outset, Mr. Epstein’s role extended far beyond that of a traditional money manager. In the late 1980s, Mr. Wexner started building Limitless, a 316-foot yacht. Mr. Epstein managed its construction and design, said Craig Tafoya, who captained Mr. Wexner’s ships for 15 years.

In meetings with shipbuilders in London, Mr. Tafoya said, Mr. Epstein dove into details about the yacht and cast himself as a tough negotiator. “He didn’t take B.S. from anybody,” Mr. Tafoya said, adding that Mr. Epstein didn’t spend much time on the yacht because he “could look at a glass of water and get seasick.”

The clearest sign of Mr. Wexner’s nearly limitless comfort with Mr. Epstein came in July 1991. Mr. Wexner signed a three-page legal document, known as a power of attorney, that enabled Mr. Epstein to hire people, sign checks, buy and sell properties and borrow money — all on Mr. Wexner’s behalf. Mr. Epstein, the document stated, had the “full power and authority to do and perform every act necessary” for Mr. Wexner.

“It takes a vast amount of trust to give someone total control,” said William P. LaPiana, an associate dean at New York Law School and a trust and estates expert who reviewed the document at the request of The Times. “Essentially what this means is, I can sign your name to anything.”

For the next 16 years, that document gave Mr. Epstein unmatched authority over Mr. Wexner’s financial affairs — and it corresponded to a period in which Mr. Epstein came to control or own valuable assets that previously belonged to Mr. Wexner or his companies.

Soon, Mr. Epstein’s name appeared on numerous Securities and Exchange Commission filings, listing him as a trustee for a series of ambiguously named entities like Health and Science Interests, Health and Science Interests II and International Charitable Interests, as well as trusts for Mr. Wexner’s children. Mr. Epstein had voting power over those interests, which came to own millions of dollars’ worth of Limited shares.

In Swiss banking documents related to some of Mr. Wexner’s entities, Mr. Epstein’s role was described as “manager of fortune.” The documents were included in an enormous leak of confidential records to the French newspaper Le Monde. They were shared with The Times through a collaboration organized by the International Consortium of Investigative Journalists.

Master of Ceremonies

By the time Mr. Wexner married Abigail S. Koppel, a New York lawyer, in 1993, Mr. Epstein was already deeply embedded in his client’s life.

In the early 1990s, as Mr. Epstein was getting more involved in Mr. Wexner’s charitable pursuits, a dispute arose on a Wexner family foundation over the composition of the board of trustees. The foundation, with Mr. Epstein as a trustee, ended up suing Mr. Wexner’s mother, Bella, who had been temporarily replaced as a trustee while she was ill. Ms. Wexner died in 2001.

Mr. Epstein wasn’t shy about injecting himself into clients’ personal lives. “If my client needs protecting — sometimes even from his own family — then it’s often better that people hate me, not the client,” he told Vanity Fair in 2003. Mr. Epstein does not appear to have had as long a list of clients as he boasted; Mr. Wexner was by far his largest.

Mr. Epstein became ubiquitous in Ohio. His black book of contactsfilled up with phone numbers with Columbus’s 614 area code. That included dozens of numbers for Mr. Wexner, his personal staff and L Brands executives — even a couple of local doctors. Mr. Epstein, who would fly in and out of Columbus on his private plane, became a fixture at Mr. Wexner’s parties and an annual fund-raiser for the Wexner Arts Center, which included a luncheon at the billionaire’s home.

When Mr. Wexner celebrated his 59th birthday with a dinner party at his mansion, Mr. Epstein acted like a master of ceremonies, giving toasts and introducing guests, according to a person who attended.

As Mr. Epstein managed Mr. Wexner’s fortune, parts of that fortune ended up in Mr. Epstein’s hands.

Mr. Epstein became deeply involved in Mr. Wexner’s upscale real-estate development in New Albany, about 15 miles outside Columbus. He set up shop in the same downtown Columbus skyscraper as Jack Kessler, the co-founder of the New Albany Company and one of Mr. Wexner’s close friends. Mr. Kessler declined to comment.

Inside the New Albany development, a 23-room, 10,600-square-foot mansion with a pool and bathhouse was being built for Mr. Kessler and his wife, property records show. But Mr. Wexner legally controlled the property, and in 1992 Mr. Epstein acquired it for $3.5 million.

In 1998, another entity linked to Mr. Wexner bought the property back from Mr. Epstein for $8 million, more than doubling his investment. The assessed value of the home has not changed over the past two decades, according to the Franklin County Treasurer, which today lists the value as $7.8 million.

Around the same time, Mr. Epstein, through a separate company, spent $7.95 million to buy Little St. James Island in the United States Virgin Islands, which would eventually become one of his primary residences.

Mr. Epstein in 1998 also took sole possession of Mr. Wexner’s stone mansion on East 71st Street in New York. A person with knowledge of Mr. Wexner’s finances said that Mr. Epstein paid $20 million, although there are no publicly filed documents recording the transaction.

About two years later, a business controlled by Mr. Epstein obtained a Boeing 727 previously owned by The Limited. There do not appear to be public records of the transaction, but the person with knowledge of Mr. Wexner’s finances said Mr. Epstein paid $10 million.

Mr. Epstein assumed leadership positions in Mr. Wexner’s foundations, according to tax records. Two of those foundations contributed a total of about $21 million in stock and cash to a charity that Mr. Epstein had set up, called C.O.U.Q.

Mr. Epstein’s charity contributed money to a variety of organizations, including the Palm Beach, Fla., police department, a Florida ballet group and the Clinton Foundation.

Cutting Ties

Through his proximity to Mr. Wexner, Mr. Epstein gained unique access to young women.

In the summer of 1996, Maria Farmer was working on an art project for Mr. Epstein in Mr. Wexner’s Ohio mansion. While she was there, Mr. Epstein sexually assaulted her, according to an affidavit Ms. Farmer filed earlier this year in federal court in Manhattan. She said that she fled the room and called the police, but that Mr. Wexner’s security staff refused to let her leave for 12 hours.

That was around the time that executives at L Brands learned that Mr. Epstein was trying to involve himself in the recruitment of lingerie models for the Victoria’s Secret catalog, a coveted assignment for young models and aspiring actresses. That was troubling: Victoria’s Secret sourced models from talent agencies, not individuals, according to the two former executives, who spoke on the condition of anonymity because they signed nondisclosure agreements after leaving the company.

When Mr. Wexner was informed about what Mr. Epstein was doing, he promised to take care of the issue, the two executives said.

Less than a year after the alleged assault of Ms. Farmer, Ms. Arden visited Mr. Epstein in his Santa Monica hotel room, expecting to discuss appearing in the Victoria’s Secret catalog. “His weapons were his hands,” Ms. Arden said.

She said she went to the police the day after Mr. Epstein attacked her, worried that he could be using his connection to Victoria’s Secret to hurt other women. A week later, when she could not stop thinking about what had happened, she returned to the police station to put her report on the record.

That police report, reviewed by The Times, is one of the earliest known police records of an allegation of sexual misconduct against Mr. Epstein.

Nearly a decade later, in early 2006, Florida authorities charged Mr. Epstein with multiple counts of molestation and unlawful sexual activity with a minor.

It wasn’t until 18 months later that Mr. Wexner cut ties with Mr. Epstein.

In 2008, Mr. Epstein pleaded guilty to state charges of solicitation of prostitution from a minor and was required to register as a sex offender. With the case in the headlines at the time, it finally dawned on Ms. Arden that Mr. Epstein had never worked for Victoria’s Secret.

Since Mr. Epstein’s arrest this month, Ms. Arden said she has wondered whether his connections to Mr. Wexner allowed him to get away with the crimes he is now charged with.

“Why would someone that powerful and successful befriend someone like Jeffrey Epstein?” Ms. Arden said. “I don’t get it.”

#Jeffrey Epstein #Leslie Wexner #Victoria's Secret

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mystlnewsonline · 6 years

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Nevada Gaming Commission News: Exclusion of Jeffrey Douglas Martin from licensed gaming establishments in the state of Nevada

CARSON CITY, NV – The Nevada Gaming Commission released the following statement:

At its meeting on December 20, 2018, the Nevada Gaming Commission ordered the exclusion of JEFFREY DOUGLAS MARTIN from licensed gaming establishments in the State of Nevada.

Included with this notice is the information page on Mr. Martin.

Please refer to Nevada Revised Statutes 463.154 and Nevada Gaming Commission…

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#ap #associated press #Breaking News #jeffrey douglas martin #Latest news #Local News #national news #nevada gaming commission #news #notice #stl.news #TodayNews #us news #World News

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democratsunited-blog · 6 years

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In Texas Governor’s Race, Lupe Valdez Faces Resistance From Fellow Democrats

https://uniteddemocrats.net/?p=4017

In Texas Governor’s Race, Lupe Valdez Faces Resistance From Fellow Democrats

AUSTIN, Tex. — Even in the close-knit circles of Texas liberals, Lupe Valdez, the Democratic nominee for governor, conjures up a disparate set of opinions — far from the united front the candidate wants to evoke.

Democratic Party officials often hail Ms. Valdez as a progressive godsend bound to inspire Latino voters: a former Dallas County sheriff who became the first Latina and open lesbian to top the party’s ticket in Texas, at a time of controversy over the Trump administration’s family separation practice for undocumented immigrants.

“She doesn’t need a GPS to know where the grass roots are,” said Jim Hightower, an Austin progressive who introduced Ms. Valdez, a spirited populist, at a recent party fund-raiser. “She has lived the issues.”

But among some activists on the left, particularly those opposed to immigration policies of President Trump and Texas Gov. Greg Abbott, there is anger over several high-profile incidents in which they deemed Ms. Valdez hostile to some progressive reforms to immigration and criminal justice policy.

During her tenure as Dallas sheriff, Ms. Valdez drew significant criticism for allowing Immigration and Customs Enforcement agents to detain certain Dallas County prisoners for its deportation operation. The jail overseen by Ms. Valdez was accused of several civil rights violations in a Department of Justice lawsuit, and was the site of a 2015 homicide where a man died in the jail’s lobby after an interaction with officers.

Ms. Valdez has also failed to secure endorsements from a statewide organization of young Latinos called JOLT and from Houston’s Stonewall Democrats, an L.G.B.T. organization. Leaders of both groups say they shunned Ms. Valdez partly because she too often leans on her personal identity to sidestep policy questions.

The Rev. Jeffrey Hood, a progressive pastor and political organizer in Dallas, who criticized Ms. Valdez following the 2015 homicide at the jail, said that voting for either Mr. Abbott or Ms. Valdez in November was a non-starter.

“Just because she’s lesbian doesn’t mean she’s progressive, and just because she’s Latina doesn’t mean she’s progressive,” Mr. Hood said.

The tension around Ms. Valdez’s candidacy reflects ongoing clashes over identity politics in the Democratic Party, as liberals try to harness the energy of minority groups that are demanding for their voices to be heard. It also points to the sometimes competing interests of party officials singularly focused on winning elections, and a morally rigid grass-roots base that is newly empowered in the current wave of anti-Trump activism.

And while there is broad interest on the left in recruiting candidates from diverse backgrounds, activists are also increasingly pushing politicians to adopt the language and policy goals of their movements — not just be more liberal than their Republican opponents. The Trump administration’s practice of separating children from their parents when apprehended at the border, and the pain and turmoil it has caused, have only intensified the passions of immigration reform advocates.

The situation in Texas has left some Lone Star progressives looking jealously to their Southern compatriots in Georgia and Arizona. In Georgia, Stacey Abrams has made history as the first black woman to be nominated by a major party for governor while also energizing grass-roots groups with progressive red meat, prioritizing causes like criminal justice reform and gun safety in her policy platform, which could help Democrats further their grass-roots network in the typically Republican state. Arizona’s Democratic hopefuls have also shifted left ideologically, which has only intensified the backlash against Ms. Valdez.

Ginny Goldman, a political strategist and the former head of another large progressive group called Texas Organizing Project, said that Ms. Valdez “has a lot more she needs to do to in order to reflect the new energy and new politics that this state is moving toward.”

If this ambivalence and even opposition continue in November, it would surely doom Ms. Valdez, a daughter of migrant workers who rose through the heavily male ranks of law enforcement and spoke at the 2016 Democratic National Convention. Ms. Valdez already faces long odds in the historically deep red state, which last voted a Democrat into statewide office in 1994 and supported Mr. Trump in the 2016 election by almost 10 percentage points.

The uphill climb would become an impossible one without the wholesale support of the Texas progressive community and immigration activists — key forces in the Democrats’ decades-long efforts to increase turnout among the state’s Latinos.

The Texas Senate candidate Beto O’Rourke, a Democrat who is challenging Republican incumbent Ted Cruz, has excited state party insiders with better-than-expected poll numbers and fund-raising, but several party officials privately acknowledged a muted energy surrounding the governor’s race — partly because of the progressive criticism Ms. Valdez has faced during the primary.

“People want real change in their lives, they want someone who’s going to fight and deliver for them — and just having a ‘D’ next to your name isn’t enough,” Ms. Goldman said.

In an hourlong interview in Austin near the Texas Governor’s Mansion she seeks to soon inhabit, Ms. Valdez defended her progressive credentials and record as Dallas County sheriff. She cast herself as a “compassionate cop” and at one point listed what she considered accomplishments: lowering the inmate population at the jail, allegedly curbing abuse and harassment among her employees, rebuffing ICE’s detention requests for individuals with nonviolent allegations, and reducing the number of inmate deaths at Dallas County jail to below the national average.

She also cited her vocal opposition to S.B. 4 — a divisive Texas law signed under Mr. Abbott that empowered police officers to question the immigration status of anyone they arrest or detain.

“I’m the only one in this race who’s fought against anti-immigrant bills,” said Ms. Valdez, positioning the choice between herself and Mr. Abbott as a binary one for progressives.

At other times she conceded that she was forced into “imperfect choices” during her time as sheriff. Ms. Valdez repeatedly mentioned how Mr. Abbott had threatened to pull funding from Dallas County if Ms. Valdez refused all cooperation with ICE at her Dallas County jail.

“I actually did a lot of good — even on the immigration front,” Ms. Valdez said. “But I guess when you have it coming from both sides, you’re doing the right thing.”

JOLT, the statewide political group working to organize young Latinos across Texas, spurned Ms. Valdez in the Democratic primary race for governor and backed her opponent — a white man — because members were “troubled by Ms. Valdez’s lack of depth in policy,” said to the group’s executive director, Cristina Tzintzún.

During an April candidate forum hosted by JOLT, Ms. Valdez angered some progressives when she avoided a question about her immigration record that had been posed to her by a first-generation American high school student. Instead of explaining her decision to honor some ICE detainers while sheriff, Ms. Valdez began her answer by saying “of course” she would be an advocate for the immigrant community in Texas as governor.

“Look at me,” she said.

Ms. Valdez later issued an apology for not providing a more specific answer, but some of JOLT’s young members remain righteously enraged.

“You were a Latina when you were helping deport people, so why should I trust you now?” said Marco Mejia, a 19-year-old student at University of Texas at Austin who was in the audience that day.

“For our community, negotiating with ICE is not an option,” said Esther Sarai Ramos, a 20-year-old JOLT member who also attends Southwestern University near Austin. Ms. Valdez “said that she didn’t take action out of fear of being defunded. But for us, it’s not a matter of you getting defunded or not, it’s a matter of will I ever see my uncles again.”

Pointing to her recent primary victory, some supporters of Ms. Valdez dismissed the progressive criticism of the candidate as nitpicky and overblown, a petulant critique from fringe groups more interested in political points than winning elections. Mr. Abbott gleefully signed the controversial S.B. 4 legislation, they point out, and is a staunch critic of liberal priorities like gay marriage and abortion rights.

But other supporters, even ardent ones, acknowledged that more work needs to be done to win over those skeptical of her law enforcement past.

“The young activists expect a lot more — but that’s coming and it’s going to be addressed,” said Frumencio Reyes, a lawyer and Democratic activist in Houston. He also offered the young activists some pragmatic advice.

“It’s in their best interest to give in a little bit and let Lupe do what she needs to do,” Mr. Reyes said. “Work with her rather than step out of it and don’t do anything — because it’s not like Gov. Abbott is going to be anyway more accepting to them.”

More than 200 miles away from Houston, however, in the Dallas metro region where Ms. Valdez was once a high-ranking law enforcement official, some young progressives have already heard this advice and seemingly discarded it. This is the community where Mr. Mejia, Ms. Sarai Ramos, and two 18-year-olds named Karla Quiñones and Melissa Mejia lead voter registration efforts targeting Latinos, but they have refused to extend their efforts toward helping Ms. Valdez.

“I refuse to be a political hostage to the Democratic Party,” Mr. Mejia said, citing the former sheriff’s history in Dallas County

After attending the JOLT event in April where Ms. Valdez faced criticism, the young organizers said they are considering not voting for governor at all. Though they continue to politically organize in the area — including one instance when they invited high school students to a fake house party, only to register the attendees to vote — each has also urged family members and classmates to consider abstaining rather than back Ms. Valdez.

Ms. Quiñones, an incoming freshman at Texas Tech University, recalled that she once looked up to Ms. Valdez — one of the first Latinas she ever saw hold public office.

“It feels like she’s turned her back on her own community,” she now says of her former role model.

Read full story here

#Democrats

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