Latest news with #AndrewFortune
The Citizen
05-07-2025
- Entertainment
- The Citizen
Mixed Fortunes (and Andrew) at the Durban July
Andrew Fortune's story is well known in racing circles. Preparations for Hollywoodbets Durban July horseracing event at at Greyville in Durban on 30 June 2023. Picture: Nigel Sibanda A highlight of Hollywoodbets Durban July day at Greyville was jockey Andrew Fortune's win in the Ridgemont Garden Province Stakes – which reminded the country of the veteran rider's astonishing career journey. Always a showman and hugely popular with racing fans, Fortune outdid himself as he stood up in the irons and saluted the capacity crowd as his mount Double Grand Slam (15-10 favourite) cruised to victory in the Grade 1, R1.5-million, 1 600 metre contest. As trainer Justin Snaith and owner representatives led the four-year-old filly into the winner's circle before the main grandstand, Fortune waved his crop like an orchestra conductor, milking the applause and cheers for all he was worth. ALSO READ: Somizi arrives in a chopper, stealing the show with eight outfit changes at the Hollywoodbets Durban July From drug addiction to champion jockey Fortune might be in trouble with the stipes for this bit of fun, but they'd have to be hard-hearted to punish the 57-year-old harshly. His story is well known in racing circles. From drug addiction, recovery, to becoming champion jockey, to retiring and being assistant trainer to his wife, to having his weight soar to 80kg, to returning to the saddle with an epic loss of 30kg-plus. Since his amazing return to riding a few months ago, he has registered nearly 40 winners. The Grade 1 trophy on Durban July day was a pinnacle no-one would have contemplated. Sympathy was due current champion jockey Richard Fourie, who has routinely partnered Double Grand Slam, but is contracted to ride for Ridgemont Stud, sponsor of the Garden Province. Fourie was booked aboard Ridgemont's Mon Petit Cherie – who was runner up to Double Grand Slam. READ MORE: 'Shrewdies' to make July Quartet pay big It was Fourie's third second-placing at the meeting, with the biggest disappointment being his narrow defeat on Hollywoodbets Durban July favourite Eight On Eighteen, beaten just 0.25 lengths by The Real Prince. The champ did have the consolation of a win in the Splashout Golden Horseshoe, a Grade 2 juvenile feature, aboard Anotherdanceforme for PE trainer Alan Greeff. By contrast, legendary golfer and racing nut Gary Player would have been a happy chap after the spectacular day at Greyville. He is a part owner – with Drakenstein Stud and Dave MacLean – of Double Grand Slam. He is also a part owner of King Pelles, the four-year-old who dominated the Grade 3 Gold Vase and is now a clear favourite for the Gold Cup later in the month. And he part-owns Gold Vase runner up Holding Thumbs, who runs in his black and white colours.
New Paper
10-06-2025
- Sport
- New Paper
June 11 South Africa (Greyville) form analysis
Race 1 (1,000m) (4) NOTHING COOLER raced greenly in a fair debut. She is likely to come on from that. (6) FLYING SOUTH was a well-beaten third last run but may just have needed it. (5) RACEWAY disappointed last run after a much-improved previous effort. Watch market. (3) MOSCOW MISS beat Flying South a neck, but the 4kg claimer is replaced by Andrew Fortune. Race 2 (1,200m) (2) TIME WILL TELL has been knocking on the door for some time now. She goes well over this trip and has first-time blinkers. (8) CAPTAIN CLEVER was much improved first-up after a lengthy break. He now gets 4kg relief. (1) GORGEOUS BOMB was a close-up second over course and distance. Big say. (10) K M V RETROFIT has shown up well at her last two. Can feature. Race 3 (1,400m) (6) LEMON THYME was second-best last run but was narrowly beaten at her penultimate start. (4) CHERRY OH BABY had excuses last run but has been costly to follow. Blinkers on. (2) FASCINATION has not been too far back in her two outings. (5) CONCORDIA has modest form to date but gets first-time blinkers and can surprise. Race 4 (1,400m) (3) FRENCH FLAME made a promising start on the Poly last time and has improved in his last two. He gets first-time blinkers. (2) KITCHAKAL is never far back. He is course and distance suited with a plum draw. (5) CHINABERRY improved last run on the Poly and was not far back from a wide gate. (6) SAVANTRIX is back on the Poly over his optimum trip. Race 5 (2,000m) (4) AZALEAS FOR ALL has shown up well in her last two and was a beaten favourite last time. (3) ENGLISH PRIMROSE has a light weight and is back over her optimum trip. (9) QONDANEKUKHANYENI has improved with each outing and was touched off last run. (1) GRAND OCCASION was not far back to stronger last time. Race 6 (1,600m) (7) NUMZAAN has a big weight but Serino Moodley is back. (8) GRIPEN was a beaten favourite in his local debut. He makes his Poly debut but can go close again. (9) DAWN SURPRISE has consistent form over shorter but may now prefer this extended trip. (2) VIVA DE JANEIRO has consistent Highveld form. Switch to Poly could bring out the best. Race 7 (1,600m) (1) UZWANO is lightly raced and possibly still under the handicapper's radar. (5) GURKHA did not get the rub of the green in the last race. He can do better here. (10) SHOEFELLA has drawn wide but has done well against stronger. (4) OUR LADY FATE has good form on the Poly and is lightly raced. Race 8 (1,200m) (7) ULTRA QUICK has been consistent at recent outings on the turf. The rejuvenated Poly should suit. (5) PRIZED PLATINUM has shown up well in KZN and could prove the pick although Kabelo Matsunyane stays with (4) MARIACHI MADNESS. (3) HIPPOCRATES has a big weight but is a Poly specialist and jumps from a plum gate.
Yahoo
19-04-2025
- Business
- Yahoo
5 Reasons House Down Payments Are Still High (Even as the Market Shifts Toward Buyers)
According to a recent report from the highest down payments in history were made in 2024, reaching an average of 14.4% as a share of the home's purchase price and a median down payment of $29,900. This annual figure was up from 14.2% and $27,200 in 2023. It's worth pointing out that the median down payment amount in the fourth quarter of 2024 was $30,250. Per Redfin data, the median home sale price went up 6.3% annually in December to reach about $428,000. Read More: Find Out: Despite hearing that we may be in a buyer's market, it's clear that down payments are still on the high side. We will explore why this is the case as we approach the summer months of 2025. Here are five reasons why down payments are staying on the higher side. Also find out how to save up for a down payment while on a $50,000 salary. Research from cited that a relatively high personal savings rate, reaching over 30% during the pandemic, helped with larger down payments because Americans saved more money. Even though personal savings dropped to 4.6% in January 2025, Americans still had a decent nest egg, especially if they were waiting to enter the real estate market. It would make sense that someone who has been saving up and eagerly waiting to purchase a home has decided to allocate more of their money towards a down payment to ensure that the agreement goes through. Consider This: The study from also pointed out that those who could afford investment or second-home purchases chose to pay a higher down payment, likely to avoid higher interest payments or because of non-primary home purchase requirements. In the final quarter of 2024, investment properties, on average, had down payments of 27.4%, while second-home purchases had down payments of 28%. Andrew Fortune, a real estate brokerage owner and realtor at Great Colorado Homes, noted that there's a shift in who's buying properties. 'Many first-time buyers have been priced out, and what's left are often repeat buyers or wealthier individuals with equity from a previous sale,' he said. These individuals are likely more financially prepared and willing to drop a higher down payment to secure the right home in the current market. Taylor Lucyk, a real estate broker and founder of the Taylor Lucyk Group, shared that homeowners who have recently sold their properties have experienced significant appreciation, leading to higher equity and more funds available for their next home purchase. 'This increased equity allows them to use the proceeds towards purchasing their next home.,' he added. If you were able to make some money on your home in the last few years, you're in a unique position to invest in a larger property to upgrade your space. 'Even with slower sales and longer days on the market, most sellers haven't been slashing prices,' according to Fortune. 'So, buyers still need to bring serious cash to the table to stay competitive, especially in areas where inventory remains tight.' Those looking to get their home purchase to go through may have to put down a higher down payment to ensure a smooth transaction. The most recent data from Redfin stated that home prices were up 3.1% on an annual basis in February, with a median selling price of $424,810. Higher housing prices are forcing home buyers to put down more money to get approved for a mortgage. Until prices drop, potential homeowners will have to make larger down payments to increase their odds of getting approved for a mortgage. Part of the reason housing prices haven't dropped is that the competition hasn't vanished yet. Fortune noted that multiple offers are still happening on homes in popular metros with strong job markets, good schools or limited inventory. With multiple offers, sellers know they can be selective with whom they choose to sell to. The end result is that down payments remain high, even if experts believe that the market will shift toward buyers soon. 'High mortgage rates push some buyers to put more money down to lower their monthly payments,' shared Fortune. 'A larger down payment can mean a better interest rate or avoiding private mortgage insurance (PMI), both of which make a big difference when rates are hovering near 7%.' Higher interest rates come with elevated monthly payments, so those with the finances are putting more of their capital in real estate to help ease their monthly budgets since they may not want their housing expenses to account for more than 30% of their monthly income. The research from noted that when mortgage rates ease up, a more diverse group of buyers may enter the housing market. However, as housing prices and rates remain elevated, down payments will stay on the high side. 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Yahoo
07-04-2025
- Business
- Yahoo
Texas Republicans take aim at public transit in two major cities
DALLAS — Texas lawmakers could imperil the future of public transportation in two of the state's largest urban areas, transit officials and advocates warn. Republican legislators are entertaining proposals to sap hundreds of millions of dollars from Dallas Area Rapid Transit, the state's largest public transit system, and thwart the voter-approved expansion of public transportation in Austin known as Project Connect. Texas Republicans have long been wary of investing in public transit, given the state's cultural ties to oil and gas and automobiles — and have long pursued ways to undercut the state's urban areas. In the case of Project Connect, lawmakers see state intervention, at least in part, as a way to rein in high property taxes. Here's what the proposed legislation would do. North Texas legislators want to reroute 25% of the sales tax revenue collected by DART, which serves Dallas and 12 neighboring cities, toward a 'general mobility program.' Those cities could then draw upon those funds to pay for projects like building sidewalks and roads and installing traffic signals. Transit agency officials say such a move would be catastrophic, costing DART more than $234 million in the upcoming fiscal year. That loss would spur deep service cuts and layoffs. More than 125,000 people would completely lose access to bus and light rail service, the agency projects, including vulnerable residents like seniors and lower-income families. With decreased service, the agency would collect less in rider fares and lose federal funds, further compounding budgetary problems and creating a downward spiral. 'I think this is the end of DART if we do it,' board chair Gary Slagel said at a recent DART meeting discussing the legislation. 'I don't know how we survive if we do this.' Some cities have sought to reduce how much in sales tax revenue they pay into the transit agency, complaining that they don't benefit in proportion to how much they contribute. Plano, for example, contributed $109 million in sales tax revenue to the system in 2023, but received about $44 million worth of investment, according to a survey conducted by EY, a consulting firm. DART officials have said the EY survey doesn't capture the full financial benefit transit service brings to member cities. The disparity has undergirded those cities' push to establish the mobility program, which proponents said is modeled on a similar program in Houston. 'Plano is not looking to leave DART,' said Andrew Fortune, Plano's director of policy and government relations. 'We are interested in a transit system that is going to work not only for our residents, but also the visitors and the employees who come to our city. Our hope is that this bill will not only protect against inequities like what we've experienced, but it will help us make a better transit solution and ultimately help those who need to move from place to place in Plano and to connect to the region as a whole.' In an attempt to appease those cities' concerns and convince them to stop pursuing the legislation, the DART board voted in March to create its own general mobility program — though using 5% of its sales tax revenue, not 25%. Such a plan would still prompt service reductions and budget cuts, though not as deep as those prompted by the legislation. Regional transportation planners warn cutting DART's funding so drastically will hamper mobility across the entire Dallas-Fort Worth region, worsen air quality and throw a wrench in public transit plans for next year's FIFA World Cup, when the region will host nine matches. The Trinity Railway Express, a commuter rail line that runs between Dallas and Fort Worth, plays a central role in the region's plans to ferry soccer fans to and from matches at AT&T Stadium in Arlington. DART projects a 25% cut in its sales tax revenue would wipe out its ability to fund the rail line. Officials with Trinity Metro, the Fort Worth area's transit agency which co-owns and -operates the line, have said they would not be able to pick up the cost. 'This could not be occurring at a worse time,' said Michael Morris, transportation director for the North Central Texas Council of Governments. Lawmakers once more have taken aim at how Austin plans to pay for Project Connect, a multibillion-dollar public transit plan that includes an expansion of the city's light-rail network. Austin voters in 2020 approved a hike in city property taxes to pay for the plan and create the Austin Transit Partnership, a local government corporation set up to build the light-rail extension. Under the plan, the partnership receives city property tax revenue to help secure loans needed to fund construction. Texas Republicans have taken issue with that funding mechanism and resurrected legislative efforts to kill it at the state level. The funds are generated from the portion of Austin's property tax rate that funds maintenance and operations, or "M&O." Attorney General Ken Paxton has argued that those dollars can't be used to pay for debt and has contested the mechanism in court. A pair of bills authored by state Rep. Ellen Troxclair, a Lakeway Republican and former Austin City Council member, and state Sen. Paul Bettencourt, a Houston Republican, would enshrine that argument in state law. The legislation would effectively get rid of Project Connect's funding plan by outlawing the mechanism approved by voters. Taxpayers could also sue to stop the city from collecting property taxes used to fund the project if a court finds the project now 'materially deviates' from how it was initially pitched — a nod to how planners, owing to inflation and other factors, reduced the project's scope in the years after voters first approved it. 'We don't mix M&O tax revenues with debt, and we don't allow them to be mixed through a third party,' Bettencourt said earlier this year. 'That's not how things work. Taxpayers deserve transparency and that's not transparency.' Austin transit officials have defended the project and argued that the funding mechanism is legal. 'Austin voters overwhelmingly approved this transformative project that will reduce travel times, spur the development of much-needed housing, and generate jobs and state-wide economic benefits,' Greg Canally, Austin Transit Partnership CEO, said in a statement. 'The need for more local investment in our transportation infrastructure will only increase as our state and community continue to grow.' Tickets are on sale now for the 15th annual Texas Tribune Festival, Texas' breakout ideas and politics event happening Nov. 13–15 in downtown Austin. Get tickets before May 1 and save big! TribFest 2025 is presented by JPMorganChase.
