CDPHE responds to CDC's elimination of COVID-19 vaccine recommendations for children, pregnant women
The Colorado Department of Public Health and Environment (CDPHE) responded to the Centers for Disease Control and Prevention's (CDC) elimination of COVID-19 vaccinations from the list of recommended vaccines for healthy children and pregnant women.
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Hamilton Spectator
41 minutes ago
- Hamilton Spectator
How the Vatican manages money and where Pope Leo XIV might find more
VATICAN CITY (AP) — The world's smallest country has a big budget problem. The Vatican doesn't tax its residents or issue bonds. It primarily finances the Catholic Church's central government through donations that have been plunging, ticket sales for the Vatican Museums, as well as income from investments and an underperforming real estate portfolio. The last year the Holy See published a consolidated budget, in 2022, it projected 770 million euros ($878 million), with the bulk paying for embassies around the world and Vatican media operations. In recent years, it hasn't been able to cover costs. That leaves Pope Leo XIV facing challenges to drum up the funds needed to pull his city-state out of the red. Withering donations Anyone can donate money to the Vatican, but the regular sources come in two main forms. Canon law requires bishops around the world to pay an annual fee, with amounts varying and at bishops' discretion 'according to the resources of their dioceses.' U.S. bishops contributed over one-third of the $22 million (19.3 million euros) collected annually under the provision from 2021-2023, according to Vatican data. The other main source of annual donations is more well-known to ordinary Catholics: Peter's Pence, a special collection usually taken on the last Sunday of June. From 2021-2023, individual Catholics in the U.S. gave an average $27 million (23.7 million euros) to Peter's Pence, more than half the global total. American generosity hasn't prevented overall Peter's Pence contributions from cratering. After hitting a high of $101 million (88.6 million euros) in 2006, contributions hovered around $75 million (66.8 million euros) during the 2010's then tanked to $47 million (41.2 million euros) during the first year of the COVID-19 pandemic, when many churches were closed. Donations remained low in the following years, amid revelations of the Vatican's bungled investment in a London property, a former Harrod's warehouse that it hoped to develop into luxury apartments. The scandal and ensuing trial confirmed that the vast majority of Peter's Pence contributions had funded the Holy See's budgetary shortfalls, not papal charity initiatives as many parishioners had been led to believe. Peter's Pence donations rose slightly in 2023 and Vatican officials expect more growth going forward, in part because there has traditionally been a bump immediately after papal elections. New donors The Vatican bank and the city state's governorate, which controls the museums, also make annual contributions to the pope. As recently as a decade ago, the bank gave the pope around 55 million euros ($62.7 million) a year to help with the budget. But the amounts have dwindled; the bank gave nothing specifically to the pope in 2023, despite registering a net profit of 30 million euros ($34.2 million), according to its financial statements. The governorate's giving has likewise dropped off. Some Vatican officials ask how the Holy See can credibly ask donors to be more generous when its own institutions are holding back. Leo will need to attract donations from outside the U.S., no small task given the different culture of philanthropy, said the Rev. Robert Gahl, director of the Church Management Program at Catholic University of America's business school. He noted that in Europe there is much less of a tradition (and tax advantage) of individual philanthropy, with corporations and government entities doing most of the donating or allocating designated tax dollars. Even more important is leaving behind the 'mendicant mentality' of fundraising to address a particular problem, and instead encouraging Catholics to invest in the church as a project, he said. Speaking right after Leo's installation ceremony in St. Peter's Square, which drew around 200,000 people, Gahl asked: 'Don't you think there were a lot of people there that would have loved to contribute to that and to the pontificate?' In the U.S., donation baskets are passed around at every Sunday Mass. Not so at the Vatican. Untapped real estate The Vatican has 4,249 properties in Italy and 1,200 more in London, Paris, Geneva and Lausanne, Switzerland. Only about one-fifth are rented at fair market value, according to the annual report from the APSA patrimony office, which manages them. Some 70% generate no income because they house Vatican or other church offices; the remaining 10% are rented at reduced rents to Vatican employees. In 2023, these properties only generated 35 million euros ($39.9 million) in profit. Financial analysts have long identified such undervalued real estate as a source of potential revenue. But Ward Fitzgerald, the president of the U.S.-based Papal Foundation, which finances papal charities, said the Vatican should also be willing to sell properties, especially those too expensive to maintain. Many bishops are wrestling with similar downsizing questions as the number of church-going Catholics in parts of the U.S. and Europe shrinks and once-full churches stand empty. Toward that end, the Vatican recently sold the property housing its embassy in Tokyo's high-end Sanbancho neighborhood, near the Imperial Palace, to a developer building a 13-story apartment complex, according to the Kensetsu News trade journal. Yet there has long been institutional reluctance to part with even money-losing properties. Witness the Vatican announcement in 2021 that the cash-strapped Fatebenefratelli Catholic hospital in Rome, run by a religious order, would not be sold. Pope Francis simultaneously created a Vatican fundraising foundation to keep it and other Catholic hospitals afloat. 'They have to come to grips with the fact that they own so much real estate that is not serving the mission of the church,' said Fitzgerald, who built a career in real estate private equity. ___ AP reporter Mari Yamaguchi in Tokyo contributed. ___ Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
an hour ago
- Yahoo
Omada Health IPO signals healthier market, avoids 'down-round' trend
The IPO market is starting to feel healthier. Omada Health, a 14-year-old company providing virtual care for chronic conditions like diabetes and hypertension between office visits, closed its first trading day on Friday at $23 a share, a 21% jump from the IPO price of $19. The IPO valued the company just above $1 billion (excluding employee options), a figure that's nearly identical to Omada's last private valuation of $1 billion set in its previous VC round. The debut is one of the first among recent IPOs that was not a so-called down-round. Many of the latest public listings, including Hinge, ServiceTitan, and Reddit, priced below their private market highs, though have faired well as public companies. For founder and CEO Sean Duffy, the successful public offering validates his decision to start a company that he believed the market desperately needed. In 2011, he dropped out of Harvard Medical School after realizing that chronic illness patients required more continuous support than the existing healthcare system delivered. Before the offering, he owned 4.1% of the company, according to Omada's offering document. Other significant shareholders included Revelation Partners (10.9%), US Venture Partners (9.9%), Andreessen Horowitz (9.6%), and FMR (9.3%). Duffy told TechCrunch that over his 14-year journey as a founder, he had many harrowing moments. "I didn't think our series A was going to come together because we were working on this commercial deal that didn't materialize, and that spooked one investor," he said. "As a young business, something tries to kill you every month," he continued. "And then as the business grows, it turns into like every quarter or six months, year, two years." One of the recent challenges for many digital health businesses is navigating the "collapse" of the market post-COVID boom. Omada steered through the turbulent times by seeking new, rising markets. It recently expanded its offerings to include diet management support for GLP-1 patients.
Yahoo
3 hours ago
- Yahoo
Why NYC mayoral candidate Ramos says she endorsed opponent Cuomo
NEW YORK - In a surprising political twist, mayoral candidate and state Senator Jessica Ramos endorsed former New York Gov. Andrew Cuomo, despite her previous criticisms of him, including his handling of the COVID pandemic and sexual harassment allegations. Cuomo, however, declined to endorse Ramos in return. What they're saying Ramos, who has been critical of Cuomo's record and even compared his mental acuity to that of former President Joe Biden, now sees the race as primarily between two candidates: Cuomo and State Assemblyman Zohran Mamdani. LIST: Meet the candidates running for NYC mayor She says that Mamdani does not have the experience to run the city and that Cuomo is better suited to take on President Donald Trump. "Andrew Cuomo and I definitely don't have the same style in governing, and I am hoping that we are focused on tackling the very serious threat of Donald Trump upon our city," she said. Ramos will remain on the ballot, but her endorsement acknowledges the fact that she sees no path to victory. Since entering the race, Ramos' campaign struggled to get off the ground. She never raised enough small-dollar contributions for public matching funds and never gained any meaningful support among the city's labor unions. The Working Families Party also did not initially include her in their slate of candidates, and Ramos made it clear that she felt spurned by the organization. Cuomo brushed off Ramos' past criticisms on Friday, stating that campaign rhetoric often leads to strong statements about opponents. He acknowledged her endorsement but clarified he is not endorsing her in return. "She is endorsing me. I'm not endorsing her," he said. The other side Mamdani said he is disappointed that Ramos chose to endorse Cuomo. "To see him continue to be legitimized is something that will always trouble me, especially given the fact that we have run this campaign," he said. "Many of us as candidates being crystal clear that while each of us thinks we will make the best next mayor of New York, we all share the agreement it should not be Andrew Cuomo." Meanwhile, protesters interrupted a housing rally being held by Mamdani in Lower Manhattan that ended with a man, Raul Rivera, allegedly biting one of the tenant organizers. The NYPD said Rivera was arrested for assault, and the woman who was bitten was treated on the scene. Mamdani and others have called on Cuomo to condemn the violence. What's next New York City's primary elections are on Tuesday, June 24. The Source This article uses candidate statements
