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Analysis: What Canada can learn from the collapse of Silicon Valley Bank

Published Sun, 24 Nov 2024 13:13:45 GMT

By: Yuhao Zhou, Western University and Cristián Bravo, Western UniversityThe sudden collapse of Silicon Valley Bank left its investors reeling, shocked and unsure of what had happened to their funds. SVB was one of the top 20 banks in the United States, and many had trusted their money with the bank, unaware of the crisis that was brewing.The U.S. Federal Deposit Insurance Corporation (FDIC) intervened to guarantee all deposits to customers, even those above the $250,000 limit. Silicon Valley Bank’s failure was technically due to a liquidity crisis — a lack of sufficient cash inflows to sustain it during a period of significant cash outflows.However, its downfall was also a culmination of several factors such as poor risk management, materialized interest rate risk, inadequate regulation and the aforementioned liquidity issues.The collapse of a medium-sized financial institution like Silicon Valley Bank serves as a reminder of the importance of robust risk management, sound regulato...

Evergreen woman pushes for more regulations after meth lab found in cabin 

Published Sun, 24 Nov 2024 13:13:45 GMT

DENVER (KDVR) — It was the majestic view and the peace and quiet that made Kathi McCarty fall in love with her small Evergreen cabin. But in 2016, McCarty decided to move out of the mountains and rent the cabin after dealing with some health complications."To me, what seemed like a sensible solution turned into my worst nightmare," McCarty said.Former meth lab flipped for profitMcCarty hired a management company and later found out a tenant had been making and using methamphetamine in her home.“There was equipment outside and inside that was highly explosive,” she said. "It was devastating." ‘Just cause’ eviction bill passes Colorado House McCarty had the home tested multiple times, revealing extremely high levels of meth contamination in every room. She said some of those companies told her they would never be able to bring it to state standards and advised her to sell the home or demolish it. "I sold it fully disclosed, fully contaminated, to what I thought would be a builder to...

College basketball player arrested after punching Fort Lauderdale Police officer

Published Sun, 24 Nov 2024 13:13:45 GMT

Body camera footage has been released of a spring break party foul, as a college basketball player is seen allegedly punching a police officer outside of a popular bar in Fort Lauderdale Beach.Wednesday evening’s incident involved 22-year-old De’Sean Allen-Eikens, a student and shooting guard at California State University, Northridge, who was visiting South Florida for spring break.According to witnesses, Allen-Eikens had been drinking at the Rock Bar, located at 219 S Fort Lauderdale Beach Blvd., when he was asked to leave by a bouncer.A fight broke out between Allen-Eikens and the bouncer, with the bouncer throwing the 6-foot-6 customer to the ground and swinging his fist at him.When Allen-Eikens got back up, he refused to leave the area, and police were called.Bodycam footage showed a Fort Lauderdale Police officer attempting to calm Allen-Eikens down, but the suspect is seen pushing the officer’s hand down.Moments later, police said, Allen-Eikens decided to take a s...

Roadways reopen at Golden Glades Interchange after truck hits I-95 overpass, damaging support beams

Published Sun, 24 Nov 2024 13:13:45 GMT

Roadways that were shut down at Golden Glades Interchange have reopened hours after a crash involving a truck sent chunks of concrete down onto the pavement, causing major traffic backups.Friday afternoon, 7SkyForce hovered above the scene in North Miami-Dade after a tractor-trailer hauling construction material hit the overpass on Interstate 95 that loops around to the 826.The vehicle was traveling west o the Northwest Seventh Avenue extension to enter the Palmetto Expressway.Concrete from the overpass could be seen on the roadway. The impact was so severe that officials with the Florida Department of Transportation said it damaged support beams for the Florida Turnpike bridge over the Palmetto.The 826 westbound at the Golden Glades Interchange was closed, as crews began cleanup efforts and engineers worked into the night to ensure the I-95 overpass was stable. No injuries were reported. https://twitter.com/myfdot_miami/status/1636848086059294721?s=46&t=e1NeucU2jTfG_qoWtYQmegSe...

Yacht in Fort Lauderdale partially submerged after taking on water

Published Sun, 24 Nov 2024 13:13:45 GMT

A yacht in Fort Lauderdale got caught up in a sinking situation.The vessel was docked when it started taking on water near Northeast 57th Court and Bayview Drive, Friday evening, leaving it partially submerged.Crews arrived and used pumps to siphon the water off.It’s unclear what caused the breach, but no one was on board at the time.

YouFit gyms to offer free self-defense classes next week

Published Sun, 24 Nov 2024 13:13:45 GMT

We all know getting your fitness is very important in South Florida, but knowing how to protect yourself is really important, too. YouFit gyms is actually helping you do both. For an entire week starting March 20, YouFit is offering free self-defense classes for its members and the community.YouFit gyms wants to help you learn how to defend yourself. Nathalia Ferreira: “YouFit is hosting a self-defense workshop in all of our locations based on the story that has gone viral from one of our longtime members, Nashali Alma. She was attacked in her apartment complex gym, and we were just stunned by it.”So, they’re providing a free self-defense workshop to make sure it never happens again.Pricilla Costa: “We have a warmup session, just to get your body going, and after that we start our segment where we introduce you to the techniques for you to get out of situations that you don’t want to be in.”They’ll teach you different techniques and show you...

Isiah Kiner-Falefa enjoys a mostly smooth return to center field

Published Sun, 24 Nov 2024 13:13:45 GMT

LAKELAND, Fla. — The last time Isiah Kiner-Falefa played center field in a game that counted, he was still trying to break into the major leagues.Back on June 17, 2017, “IKF” took to the middle of the outfield for the Texas Rangers’ Double-A affiliate, the Frisco RoughRiders. The game’s box score on MiLB.com notes a nondescript fielding error, but a past and present teammate remembers exactly what happened.“Over his head,” Jose Trevino, who caught that game, quietly conceded when pressed for details. But Trevino added that that was only Kiner-Falefa’s second — and most recent — professional appearance in center. The other came on Aug. 5, 2016, also for Frisco.“He did have a little trouble with one of them,” Trevino told the Daily News. “But he was fairly new to it. I feel like he’s better now.”That seemed to be the case on Friday, as Kiner-Falefa returned to center field to start New York’...

Julian Love moves cross-country to Seattle Seahawks after Giant impasse

Published Sun, 24 Nov 2024 13:13:45 GMT

The Giants lost their leading tackler, defensive play-caller and captain to the Seattle Seahawks on Friday.Safety Julian Love signed a two-year, $12 million contract on Friday to play for Pete Carroll, a source said, choosing the Pacific Northwest over the Northeast.“New York, it’s been an unforgettable four years,” the former fourth-round pick wrote on Instagram. “Being a part of this Giants community has been a dream and I’m so grateful to everyone who made NY home.“To the Mara family, my coaches, and all of the incredible staff, thank you for everything. you made it a privilege to come into work each day. To my teammates, thank you for all of the good times. Playing alongside you guys has been one of the highlights of my life.“And to the fans, thanks for always bringing that NY energy,” he added. “I will carry this experience with me forever. Love y’all always.”Love, 24, consistently said two things entering free a...

Man accused of kidnapping, raping and assaulting woman denied bail

Published Sun, 24 Nov 2024 13:13:45 GMT

Editor's note: The following may be disturbing for some readers.SAN DIEGO -- The man charged with kidnapping and forcible rape of a woman inside a home in the Palm City neighborhood appeared before a judge Friday afternoon for the first time in connection with the case.Rafael Banda, 44, is also linked to a suspicious death investigation after a dead woman's body was found inside of his home, but no charges have been filed in connection with that investigation.“I’m setting this case as no bail," the judge said during the court proceeding Friday. Banda retained private counsel and his arraignment was postponed. He appeared in custody inside the courtroom with the judge ordering the media to blur his face.In the courtroom Friday, the prosecutor discussed details of the case, some very graphic and disturbing.According to the prosecutor, the victim had known Banda for about a week prior to the alleged kidnapping. She said they were in an intimate, but not sexual relationship and she want...

City of Yellowknife, civic workers’ union ratify deal after strike/lockout

Published Sun, 24 Nov 2024 13:13:45 GMT

YELLOWKNIFE — Unionized workers with the City of Yellowknife have ratified a new collective agreement after a labour dispute that began in early February that included a strike and a lockout.The Union of Northern Workers says in a release Friday that they worked tirelessly for the best deal they could get with the city.The union says the agreement includes a compounded wage increase of 5.83 per cent with full retroactivity and signing bonuses.Union president Gayla Thunstrom says the last few weeks have been long, cold, and hard but she is proud of the members for standing up for what they believe in.She says they appreciate all the support, contributions, and donations they have received from the community.Yellowknife city council has also endorsed the deal by passing a bylaw.The Union of Northern Workers is a component of the Public Service Alliance of Canada.The previous collective agreement expired at the end of 2021.This report by The Canadian Press was first published March 17,...