Category: phodrthr

Oculus exec warns uptake may be slow

first_imgOculus exec warns uptake may be slowVP of product suggests content, price issues may keep virtual reality tech from changing the industry overnightBrendan SinclairManaging EditorFriday 25th September 2015Share this article Recommend Tweet ShareCompanies in this articleOculus VRIn an on-stage appearance at yesterday’s Oculus Connect keynote, Facebook founder Mark Zuckerberg warned that virtual reality might grow slowly at first. It was a sentiment echoed by Oculus VP of product Nate Mitchell in an interview with Gamasutra published today.While Oculus is convinced of VR’s potential to change the world, Mitchell said history has shown that new technology generally doesn’t do that overnight.”At the end of the day, I think that if you look at many of the most successful consumer hardware products of all time, most of them sold in the very low millions of units in their first year — especially new product categories, things like Kindle and iPod. They sold in the hundreds of thousands in their first generation,” Mitchell said.The two big challenges that Mitchell said most needed to be addressed were content and price. While people might have their minds blown by an impressive VR demo, they still need good content to justify investing in the tech and have it as a permanent fixture in their homes. To start with, Mitchell expects that content to come from small developers and indies interested in the possibilities of VR and able to take risks their larger counterparts can’t.”If we can sell enough that developers start being successful and they can reinvest in the system,” Mitchell said, “we can start the cycle and kick start the chicken-and-the-egg problem. I think we can make this thing into a thriving ecosystem.”Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games If enough small developers give people a reason to buy the system, then there may be an installed base big enough to justify the larger players investing in VR games and content at the multimillion dollar level.Oculus can help make that happen working from two directions. First, it can by promote developers making VR-specific games and fostering innovation in the community. Second, it can make the hardware increasingly affordable over time.”Price is going to be one of the biggest barriers to entry,” Mitchell said. “It’s just not going to be some insane, insane console launch, but if we can build this thing year over year and keep growing the community and the ecosystem, then we can make VR that changes the world.”Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The VR & AR newsletter and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesOculus halts headset sales in GermanyFacebook says it’s a temporary move and will continue supporting existing owners in the countryBy Brendan Sinclair 8 months agoSony reportedly increasing PS5 production to 10m units by 2021Meanwhile, Facebook said to be ramping up manufacturing for Oculus devicesBy James Batchelor 9 months agoLatest comments (3)Andrew Jakobs Lead Programmer 5 years ago hmmm.. as we still don’t know how mucht the Oculus is actually going to cost, this makes me worry a bit and gives me the idea the Oculus isn’t going to cost the price as was mentioned they were targetting for (a couple of years ago).. 0Sign inorRegisterto rate and replyNick Parker Consultant 5 years ago Is this refreshing realistic pragmatism or a warning? Loss leading on the console to generate an installed base worthy of investing development on has always been the route to market for console manufacturers (Nintendo sometimes being the exception). Launching hardware takes balls of steel but I think with the FB deep pockets, Oculus can ride through the rocky early adopter stage. Ditto PS VR.center_img 2Sign inorRegisterto rate and replykevin williams , KWP Limited5 years ago >…Is this refreshing realistic pragmatism or a warning?……Or damage limitation against previous over-exaggeration of the opportunity – we can point to those previous comments they did not shut-down at the time that their system would run on a $600 priced PC! Now the reality hits home and they need to try and manage the three elephants in the room! Edited 1 times. Last edit by kevin williams on 29th September 2015 12:15pm 1Sign inorRegisterto rate and replySign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

Nexon to acquire Big Huge Games

first_imgNexon to acquire Big Huge GamesKorean publisher to buy all remaining shares after backing the company at its foundationMatthew HandrahanEditor-in-ChiefThursday 10th March 2016Share this article Recommend Tweet ShareCompanies in this articleBig Huge GamesNexon’s Korean subsidiary has agreed to acquire the outstanding shares in Big Huge Games, the US studio it worked with on the mobile hit, DomiNations.Indeed, Nexon has been involved ever since Big Huge was revealed to be the new studio from Brian Reynolds and Tim Train back in 2014. Reynolds and Train founded the company’s original incarnation in 2000, but that ended when it was closed amidst the very public implosion of 38 Studios.Version 2.0 launched with Nexon’s backing, and the Korean company went on to publish DomiNations. According to CEO Tim Train, that existing relationship, and the positive outcomes that resulted from it, laid the foundation for the buyout. Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games “We are thrilled to be joining forces with Big Huge Games,” Nexon CEO Owen Mahoney added in a statement. “One of Nexon’s core objectives is to empower the best game developers around the world enable them to succeed.”DomiNations has achieved great success in both the West and Asia, and we’re excited to work with Big Huge Games to deliver the best quality gameplay to fans for years to come.”DomiNations has been downloaded 19 million times since it launched in April 2015.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Mobile newsletter and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesDomiNations’ lifetime revenue passes $100mHistorical mobile strategy game celebrates two-year anniversary with 32m playersBy James Batchelor 4 years agoSecretNewCo becomes Big Huge GamesBrian Reynolds revives studio with backing from NexonBy Rachel Weber 6 years agoLatest comments (1)Richard Browne Head of External Projects, Digital Extremes5 years ago Fantastic news for a fantastic team. I do hope it goes better than when we did it . . . 0Sign inorRegisterto rate and replySign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

$1.4bn divestment offsets modest annual loss for MTG

first_img$1.4bn divestment offsets modest annual loss for MTGEsport and gaming revenue continues to climb for Swedish entertainment group Haydn TaylorSenior Staff WriterThursday 6th February 2020Share this article Recommend Tweet ShareSwedish entertainment company Modern Times Group (MTG) has posted rising revenues in both its annual financial report, and the latest quarterly figures. While Sony and Microsoft see revenues decline as the current console generation draws to a close, the evergreen business model of esports and live service games is performing well for MTG. As the parent company of mobile developer InnoGames, esports organiser ESL, esports production company Dreamhack, and game publisher Kongregate, 2019 was a strong revenue year for the group. Net sales were up 15% year-over-year in Q4 to SEK 1.16 billion ($121 million); this was driven by a 15% rise in esports revenue to SEK 516 million ($54 million), and a 17% rise in gaming revenue to SEK 650 million ($67 million). In terms of annual revenue, net sales were up 10% over 2018, reaching SEK 4.2 billion ($442 million).Gaming accounted for the majority of this figure with SEK 2.5 billion ($264 million), representing a 10% growth over the year prior, while esports grew 12.6% over the same period to SEK 1.7 billion ($178 million).Total net income for the year was buoyed significantly by the divestment of Nordic Entertainment Group for SEK 13.6 billion ($1.4 billion); with this money included, along with additional smaller divestments, net income for MTG in 2019 was SEK 14.3 billion ($1.5 billion). Disregarding that additional income, MTG posted a loss of SEK 458 million ($47.7 million), increased from a SEK 107 million ($11.1 million) loss the year prior. Quarterly income tells a similar story, with the year-over-year loss in Q4 increasing by over 200% from SEK 66 million ($6.8 million) to SEK 207 million ($21.5 million) “As many times before in the history of MTG, we are venturing into new commercial territories,” said president and CEO Jørgen Madsen Lindemann. Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games “Our belief in tomorrow’s entertainment – esport and gaming – is strong. Success in creating value will only come through relevant products, creativity and innovation.”Lindemann announced that MTG expects to release nine games across four genres in 2020, adding that the group has several growth areas in esports. “Through these growth levers we have the opportunity to further establish and build on MTG as a global esport leader and to capitalise on the exciting journey for the gaming industry – providing the future of entertainment products,” he said.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesEA leans on Apex Legends and live services in fourth quarterQ4 and full year revenues close to flat and profits take a tumble, but publisher’s bookings still up double-digitsBy Brendan Sinclair An hour agoUbisoft posts record sales yet again, delays Skull & Bones yet againPublisher moves away from target of 3-4 premium AAA titles a year, wants to build free-to-play “to be trending toward AAA ambitions over the long term”By Brendan Sinclair 5 hours agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

Inspiration Is Found Everywhere

first_imgAs per google the word “empowerment” means a social process that helps people gain control over their own lives.Many women inspire us with their achievements. Some of them are famous figures like Mother Teresa, Kalpana Chawla, Mary Kom, Indira Nooyi are few examples of Women Empowerment.Today I am going to write about someone who would not be mentioned in anyone in the history books or on the google page.Her name is Geetha and she works as the bus attender in my son’s school. With all the schools closed for the past year due to pandemic and no bus services, Geetha was told by the bus owner that she needs to look for another job.For a few months, there was no communication from her. But the other day out of the blue there was a call from her. We spoke about the school and I told her there is no news still on school reopening. I expected her to sound worried or dejected rather she was very cheerful. I then asked her how’s she is doing and what she told me next was very awe-inspiring.She told me that she kept herself busy by trying harder to get another job. She approached 2-3 independent homes for work with help of a few of her friends. She was able to secure jobs in a few homes where she works between 9 AM to 2 PM.  She realized that her afternoons were free and saw an opportunity to make herself more productive. Geetha started learning tailoring from a neighbourhood shop. While this was for a couple of hours, her evenings were occupied in attending a beautician course. She realized that this busy schedule would require her to be efficient in terms of commute. Therefore, she learned how to ride a bike and is using it for the commute.She taught me a few valuable lessons – Never lose hope, be innovative and try to view a challenge as an opportunity.Her approach to keeping herself busy by being productive amid this pandemic has been an inspiration to me. The least I can do is to share her journey with whoever I know.last_img read more

Police searching for person who donated bag with almost 5 pounds of marijuana to thrift shop

first_imgSarasota Police Department(SARASOTA, Fla.) — An absent-minded drug dealer appears to have made a very expensive mistake in Sarasota, Florida, this week.The Sarasota Police Department is investigating after employees at The Pine Thrift Shop found four packages of marijuana in a duffel bag left outside the store. The four air-tight bags of pot weighed in at 2,133.5 grams — about 4.7 pounds.The costly donation is worth about $5,400, according to the national average set by Cannabis Benchmarks, which tracks the price per pound for weed in states where the drug is legal for recreation use, such as California and Washington. Marijuana is not legal for recreational use in Florida.Medical marijuana was legalized in 2016, but it can only be purchased with a doctor’s authorization from a medical marijuana treatment center, and cannot be smoked, according to the Florida Department of Health.Employees at the thrift shop brought in the white tote bag, which was left in the store’s donation bin in front of the building, and left it for inspection later, according to Tampa ABC affiliate WFTS. When an employee did open the donated bag and found the weed, he called authorities immediately.Police told WFTS they are doing testing on the marijuana to try to find out where it came from.They are also looking at surveillance footage from outside the store.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

New York’s malls see slow recovery after reopening

first_img Full Name* (Photo illustration by The Real Deal; iStock)When malls received the green light to reopen a month ago, it should have been a celebratory moment, given the owners of most shopping centers hadn’t let customers in for six months.But one month in, the results have been mixed. Malls have been trying to provide a sense of normalcy for both their shoppers and retailers, but they can operate at only 50 percent capacity, which has led to dramatic drops in foot traffic.“It’s a tough environment for retail,” said Callie Haines, executive vice president of asset management at Brookfield Properties.Brookfield Place in the Financial District has seen about 95 percent of its stores reopen, and the few that didn’t cited construction or staffing issues, according to Haines, who noted that some retailers at the mall have returned to the pre-Covid sales levels.ADVERTISEMENTAt the Shops & Restaurants at Hudson Yards, which opened last year with much fanfare, several retailers have closed. Neiman Marcus shuttered 16 months into its 50 year lease, a decision spurred by the company’s bankruptcy filing. Two of Thomas Keller’s restaurants, TAK Room and Bouchon Bakery, similarly pulled out in August.The mall saw its year-over-year foot traffic drop 87 percent in July and nearly 84 percent in August, according to Placer.ai data. It recovered slightly in September, with foot traffic at 62 percent of what it was a year prior. (While malls were closed until September, Placer tracks foot traffic to other businesses that were operable within or around them, such as big-box stores.)Still, a spokesperson for Hudson Yards said that retailers are seeing steadily rising sales. The mall has also welcomed new brands during the pandemic, including Goodlife, Levi’s and Sunglass Hut.“The future of fashion and retail at Hudson Yards remains bright,” a spokesperson said in a statement.A few blocks east of Hudson Yards, foot traffic at the Manhattan Mall in typically tourist-heavy Herald Square has been all but obliterated: In July and August, it was down by more than 90 percent, according to Placer.ai. It rebounded only slightly in September, but was down by 86 percent from the previous year.But some shopping centers have fared better; the Queens Center mall was at 53 percent of its foot traffic from the previous year.Individual retailers have also experienced financial problems that have impacted their ability to reopen. At the Atlantic Terminal Mall in Brooklyn, a Victoria’s Secret branch furloughed 47 employees, with a Department of Labor notice filed Sept. 4 citing unforeseeable business circumstances prompted by Covid-19. The location has since reopened, according to Madison International Realty, which owns the mall.Evan Walke, a portfolio manager at Madison International Realty, said that overall, that particular shopping center has bounced back, thanks in part to stores like Stop & Shop and Target, which remained open throughout the pandemic.In other regions of the state, where malls were allowed to open as part of phase 4, closures have been rampant.Le Tote, the parent company of Lord & Taylor, filed for bankruptcy in August and shut down four brick and mortar locations, letting go of 152 employees across its stores. All the locations were in shopping malls in other parts of New York, according to the Department of Labor filings.In Long Island, a J.C. Penney store was on the chopping block, before the retailer altered its plans, saving 136 employees.In addition to the worries about foot traffic, mall operators have to implement state-mandated safety measures, including new air filtration systems that can filter out Covid-19 particles, as well as social distancing rules and mask requirements.Some shopping centers are implementing additional safety measures: Unibail-Rodamco-Westfield, which operates the Westfield World Trade Center, has focused on enhancing outdoor dining, virtual line queuing and curbside pickup.Contact Sasha Jones Message* Email Address* This content is for subscribers only.Subscribe Nowlast_img read more

Israel attacks ‘surprise’ Union paper

first_imgHalevy was not convinced. “We are somewhat surprised by the timing of this,” he said. “It could be construed as an attempt to influence deliberations during the visit of our prime minister to Washington.”The Commission paper notes that in spite of EU economic aid worth 1.7 billion ecu to the Palestinian Authority since the start of the peace process, Palestinian gross national product has declined by 35%, unemployment has doubled and private investment has plummeted.Marín claimed that this was due in part to “a series of measures put into practice by Israel to seal off the Palestinian territories from the outside world”. This made it difficult for the Commission to justify further aid to the region, he said, adding: “The problem the Commission has is that the programme comes to an end this year. Will it be extended for another five years?”Although EU assistance had helped to keep the peace process alive, Marín warned that without economic growth in the territories run by the Palestinian Authority it would be impossible to foster long-term reconciliation.Halevy acknowledged that EU financial aid had been useful, but stressed that it was directed only towards the Palestinians and was supplemented by substantial Israeli funds. He firmly rejected any suggestion that Israel should open its bordersin pursuit of long-term economic development. “This would mean sacrificing lives in an effort to bring about economic improvement,” he said.He also dismissed the Commission paper’s suggestion that Europe could help Israel protect its security. “This is not what Israel is asking for,” said Halevy. “Besides, this is not something which the Union is even capable of contributing to.” Israel’s ambassador to the EU Ephraim Halevy said the document published last week demonstrated a severe “misunderstanding” of the peace process and the EU’s role within it. “The approach should not be ‘how can the Union have a role?’ but ‘does the EU have something valid to contribute to both sides?’,” said Halevy. “We believe this should be a free negotiation between the parties, without outside participation except at their request.”Mediterranean Affairs Commissioner Manuel Marín has insisted that the collapse of the Palestinian economy and region-wide instability “should lead us to consider more active participation in the peace negotiations”.This latest storm between the EU and Jerusalem follows the surprise publication of the Commission paper a month after it was unanimously adopted by the institution. Marín claimed the delay resulted from the document’s extreme sensitivity, but said last week that he “could not wait any longer before raising the matter openly”. Marín’s move also surprised some EU governments, which have yet to receive an official copy of the paper. One UK official described the report as “naïve”, stressing it was “a Commission, not an EU paper”.The Commissioner will present the paper to foreign ministers at their meeting on Monday (26 January), but substantial discussions are not expected until the following month.last_img read more

Combination PET/CT Scanner Could Improve Breast Cancer Treatment

first_imgAddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore A new type of scanner that combines the qualities of a  PET (positron emission tomography) scan and the qualities of a CT (computed tomography) scan could lead to improved breast cancer imaging. This imaging will allow doctors to identify the stage of breast cancer in patients that have already been diagnosed. In turn, this knowledge can lead to more specific treatment methods and better planning of surgeries. (read the full story at Science Daily) AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMorelast_img read more

Vermont ranks in top 10 states with largest ‘Rainy Day’ funds

first_imgVermont Business Magazine In a new study, SmartAsset analyzed data to find the states with the largest rainy day funds as of 2019. Vermont ranks among the top 10 states. Vermont had the highest ranking in the Northeast. SmartAsset is a national, personal finances assistance firm.The coronavirus pandemic(link is external) has drastically impacted the budgets(link is external) of not only individuals, but also states. State revenues have declined due to delays in income tax collections along with decreases in revenue brought in from sales tax. Meanwhile, state expenses are rising as unemployment claims(link is external) have spiked. Because of these changes and the growing mismatch between revenues and expenses, many states have revised their 2020 fiscal projections to reflect potential budget shortfalls. Though some states may receive aid from the federal government to cover deficits, many may still need to dip into reserve accounts, commonly referred to as rainy day funds.In this study, SmartAsset uncovered the states with the largest rainy day funds. Specifically, they ranked all 50 states based on the number of days’ worth of general fund expenditures saved in their rainy day funds in 2019. They also looked at rainy day funds as a percentage of each state’s general fund expenditures. For details on data sources, check out the Data and Methodology section below.Key FindingsWestern states have the largest rainy day funds. Five of the 10 states with the largest 2019 rainy day funds relative to general fund expenditures are located in the West. They are Wyoming, Alaska, New Mexico, California and Oregon. In 2019, all five of these states had more than 45 days’ worth of general fund expenditures saved in a rainy day fund.The average state has less than one month’s worth of expenses saved. Data from the Pew Charitable Trusts shows that across all 50 states, the median rainy day fund is 7.7% of state general fund expenditures. This means that the median number of days’ worth of general fund expenditures saved in a rainy day fund is 27.9.Some states may be able to access rainy day funds more easily than others. State withdrawal limits and restrictions vary. A 2017 paper(link is external) from the Pew Charitable Trusts shows that the conditions for withdrawal from a rainy day fund span four categories: volatility (either revenue or economic), forecast error, budget gap or no conditions. Six states have more than one of the four categories as withdrawal conditions, 11 have only volatility as a reason, 11 require only a forecast error, 16 require only a budget gap and six have no set conditions.1. WyomingIn 2019, Wyoming had close to $1.70 billion saved in a rainy day fund, according to data collected by the Pew Charitable Trusts. This amount exceeded general fund expenditures in 2019. In fact, last year, Wyoming’s rainy day fund could cover close to 400 days’ worth of general fund expenditures, the longest period of time for any state.While Wyoming has the largest rainy day fund of any state, it is one of six states – along with Kentucky, Maryland, Nebraska, North Carolina and Ohio – that does not have specific conditions for withdrawing money from the fund. As noted by the Pew Charitable Trusts, with no set conditions to use the money, Wyoming has grappled with the question of when to use the money and how bad conditions need to be before tapping into its large balance.2. AlaskaThe price of oil recently fell below $0(link is external), creating significant revenue headwinds for Alaska, whose economy heavily depends on the petroleum sector. In the state’s most recent forecast(link is external) from the Department of Revenue, analysts predict a $527 million shortfall in general fund revenues for the 2020 fiscal year from previous projections. Luckily, Alaska has a large rainy day fund – totaling close to $2.30 billion in 2019 – that may help cover expenses. Data from the Pew Charitable Trusts shows that Alaska’s rainy day fund could cover about 171 days’ worth of general fund expenditures. Moreover, Alaska is one of the eight states that can use rainy day funds if there is revenue volatility.3. North DakotaOf any state in our top 10, North Dakota saw the biggest growth between its 2018 and 2019 rainy day funds. In 2018, its rainy day fund amounted to about $113.30 million, a figure that covered fewer than 20 days’ worth of general fund expenditures. In 2019, North Dakota’s state budget office reported that it had about $659 million saved in a rainy day fund. As there were about $2.21 billion general fund expenditures in 2019, rainy day funds made up close to 30% of general fund expenditures, meaning that savings would last almost a third of the year (about 109 days).While North Dakota Legislative Council’s April 2020 report(link is external) does not indicate an overall budget shortfall from expected forecasts, it does show a 59% and 31% decline in individual and corporate income tax collections, respectively, in March this year compared to original predictions. This decline would qualify as a forecast error, the condition for withdrawal for North Dakota’s rainy day fund.4. New MexicoLike North Dakota, New Mexico added to its rainy day fund between 2018 and 2019. In 2018, its rainy day fund totaled almost $527 million, and in 2019, it was worth more than $1.87 billion. With that increase and general fund expenditures remaining relatively stable between the two years, New Mexico’s rainy day fund could cover about 60 more days’ worth of expenses than it could in 2018 (about 31 days in 2018 vs. about 90 days in 2019).5. TexasTexas(link is external) does not collect income taxes, but its average state and local sales tax rate is 8.19%, the 12th-highest in the U.S. More than half of Texas state revenues come from sales tax collections, which have been hit hard(link is external) by store closures and social distancing measures. Texas’ rainy day funds may be able to aid in budget shortfalls during 2020. In 2019, it had more than 70 days’ worth of general fund expenditures saved in its rainy day fund. Moreover, Texas is able to withdraw money from the fund under two conditions: economic volatility and budget gap.6. West VirginiaWest Virginia is one of 18 states in which a budget gap is a condition for withdrawal for rainy days funds and has the sixth-largest rainy day fund of all 50 states. In 2019, West Virginia had about $753 million saved in a rainy day fund, according to data collected by the Pew Charitable Trusts. With $4.60 billion in general fund expenditures during that same year, West Virginia’s rainy day fund would cover about 60 days’ worth of state spending.7. CaliforniaCalifornia had the largest rainy day fund in terms of gross size of any state in 2019. However, as general fund expenditures in California are also high, California ranks seventh on our list of states with the largest rainy day funds relative to general fund expenditures. Its rainy day fund made up approximately 14% of general fund expenditures in 2019 and would be able to cover almost 53 days’ worth of spending. Withdrawals from California’s rainy day fund must happen under the condition of revenue volatility.8. VermontVermont bolstered its rainy day fund between 2018 and 2019. In 2018, its rainy day fund could cover about one month’s worth of expenses in the case of a budget cap, but in 2019, it could cover more than 50 days’ worth of expenditures. In gross terms, Vermont’s rainy day fund totaled almost $133 million in 2018 and more than $224 million in 2019.9. ConnecticutIn 2019, Connecticut’s rainy day fund could cover about 47 days’ worth of general fund expenditures. The state had more than $2.51 billion saved in its 2019 rainy day fund, and general fund expenditures were less than $20 billion.10. OregonThough Oregon’s rainy day fund was created in 2007, the fourth-most recent of any state – behind only Arkansas, Kansas and Montana – it is the 10th largest in the U.S. In 2019, its rainy day fund made up 12.66% of general fund expenditures, 5% more than the national median across all 50 states. Additionally, Oregon’s rainy day fund could cover about 46 days’ worth of expenditures and is tied to economic volatility. According to the Pew Charitable Trusts, this condition can be used by Oregon’s legislature to justify withdrawal from the rainy day fund if there has been a decline for two or more consecutive quarters in the last 12 months in nonfarm payroll employment – a definition that closely aligns with that of a recession(link is external). Data and MethodologyData on 2018 and 2019 rainy day funds along with general fund expenditures comes from the Pew Charitable Trusts’ Fiscal 50: State Trends and Analysis(link is external). We ranked states with the largest rainy day funds according to the days’ worth of expenses each state had saved in a rainy day fund in 2019. Research on state withdrawal restrictions and limits of rainy day funds also comes from the Pew Charitable Trusts. Its 2017 paper “When to Use Rainy Day Funds(link is external)” describes the withdrawal policies across states.Finally, information on revised state revenue projections during COVID-19 comes from the National Conference of State Legislatures. Its page here(link is external) tracks the revised estimates to state revenues due to the economic consequences of coronavirus.Tips for Building Up Your Personal Rainy Day FundCommit to a budget. Dedicating yourself to keeping a detailed budget(link is external) can help you avoid spending more than you are able and avoid future stressful financial situations. By putting away money in a savings account(link is external) every month you can begin to build up your own rainy day fund and be better prepared to handle unexpected financial situations.Get trusted personal finance advice. A financial advisor can help you make smarter financial decisions such as being in better control of your money. Finding the right financial advisor that fits your needs(link is external) doesn’t have to be hard. SmartAsset’s free tool(link is external) matches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now(link is external).Source: SmartAsset 5.20.2020 The full report, including the methodology and key findings, can be found here: (link is external)https://smartasset.com/checking-account/states-with-the-largest-rainy-day-funds-2020(link is external).last_img read more

North Overland Park neighborhood rocked by third killing in a week

first_imgThe duplexes at 61st Street and Robinson have seen three murders in less than a week.For the second time in a week, a north Overland Park neighborhood is coping with an act of violence that left someone dead.Police confirmed Monday night that a woman in her 30s died after a shooting in the same block where two young men were killed last Tuesday. The cul-de-sac that makes up the 7800 block of 61st Terrace in Overland Park dead ends at the eastern edge of the Crestview Elementary School property.An 11-year-old girl was injured in the shooting as well, and was taken to the hospital with non-life-threatening injuries.Police are looking for a suspect who left the scene in a grey Pontiac Grand Prix. The suspect used a semi-automatic rifle to fire multiple shots into the duplex where the woman was hit around 6:30 p.m.Police say they are investigating whether Monday’s incident had any connection to the shooting last week that killed former SM North student Velik Henderson and Trevon D. Anderson.“We haven’t confirmed anything as far as a connection but it’s certainly the first thing we’re looking at,” said Overland Park Police spokesman Gary Mason.last_img read more