Latest news with #Arch
Yahoo
2 days ago
- Business
- Yahoo
Nebraska lawmakers adjourn 2025 legislative session, look ahead to future budget changes
State senators join together after adjourning for the year at the end of the 2025 legislative session. Not pictured: State Sens. Christy Armendariz of Omaha, Myron Dorn of Adams, Rob Dover of Norfolk and Glen Meyer of Pender. June 2, 2025. (Zach Wendling/Nebraska Examiner) LINCOLN — Nebraska lawmakers ended the 2025 legislative session Monday, celebrating a balanced budget achieved over a major projected deficit and the passage of more than 200 bills. Speaker John Arch of La Vista, marking the end to the 89-day session, thanked his colleagues for their work, and centered them on what he has already identified as the 'biggest challenge' for 2026, the same as in 2025: the state budget. He said fiscal numbers often change in the two-year budget cycle, and 'there is considerable uncertainty in the world that could make accurately predicting our fiscal future more difficult.' Lawmakers are projected to end the next two fiscal years, through mid-2027, at a $4.15 million surplus. Lawmakers are facing a projected $129.1 million hole in the following two fiscal years, from mid-2027 through mid-2029, which future lawmakers will need to address. Just five months ago, lawmakers faced a $432 million projected deficit for the 2025-27 fiscal years, which had grown by the time the budget passed in May. 'There is always more work to do and more opportunity to make Nebraska an even better state in which to live our lives and build our dreams,' Arch said in his closing address. 'It was hard work this session, but you proved that you can do the hard work. Next session will be no different.' Arch told senators to pay attention to fiscal dynamics in Washington, D.C., which could fall back on Nebraska, and to the next state revenue forecast this Oct. 31, on Halloween. Multiple state senators have noted congressional talks on Medicaid and SNAP (Supplemental Nutrition Assistance Program) benefits could pass costs back on to Nebraska. Gov. Jim Pillen and Arch agreed that budget adjustments for the 2025-27 fiscal years 'will be a priority' in 2026. That agreement came after Pillen unsuccessfully tried to line-item veto multiple items from the state's budget bills. Lawmakers rejected the vetoes as not having been properly filed with the Legislature, and Pillen ultimately withdrew his vetoes. As of this time, neither Pillen nor lawmakers have announced plans for a 2025 special session. A total of 204 bills passed this session, according to a count by the Legislature. Arch said 113 more bills were amended into those bills that have or will soon become law. Most bills that do not have a set date to take effect will become law Sept. 3, three months after adjournment. Pillen has committed to not vetoing any of the bills sent to him before Monday. Arch said senators requested more than 1,600 amendments and 845 fiscal notes during the session. While 715 bills, 18 constitutional amendments and six more policy-based resolutions were introduced this session, Arch said 374 more proposals were drafted but not introduced. Any legislation not passed in 2025 will return in 2026, such as slowing down voter-approved annual increases to the state minimum wage, increasing paid family and medical leave for teachers, requiring health care facilities to cremate or dispose of aborted fetal remains or creating second chance relief for certain state offenders. Arch told his colleagues to consider over the next seven months what they want to bring to the 2026 table, including what issues are most important to constituents and the state generally. 'Think about how we're going to work together as a diverse group of individuals,' Arch said, 'with differing opinions, different life experiences, but with a common goal of building consensus and crafting a policy that even makes this state of Nebraska better and better.' Lawmakers will reconvene Jan. 7, 2026, and stay for up to 60 legislative days, or around mid-April. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Business News Wales
2 days ago
- Automotive
- Business News Wales
Sinclair Group Marks 80 Years with Acquisition of Cardiff and Newport JLR Sites
Andy Sinclair, Managing Director of Sinclair Group, and Nicky Boyce, Head of the Jaguar Land Rover Division at Sinclair Group. Sinclair Group, Wales' largest motor retailer, is further expanding and strengthening its association with Jaguar Land Rover with the acquisition of two more sites. The Group has extended its reach across all of South Wales after completing the purchase of the Stratstone Jaguar Land Rover businesses in Cardiff and Newport from Lithia UK. The deal increases the Sinclair JLR portfolio to six sites. Situated on Hadfield Road, the Cardiff site opened in 2017 incorporating JLR's Arch concept design and features a state-of-the-art, 18-car showroom together with an Approved Used display area for up to 80 vehicles. It has a drive-in service reception and a 22-bay workshop. The Newport operation on Longditch Road was originally a dedicated service centre but was redeveloped as an Approved Used Retailer in September 2023. It can display up to 30 pre-owned vehicles and retains full after sales capability with a 10-bay workshop. All 60 staff employed across the two sites have transferred to the Sinclair Group, which was named 2024 Land Rover Retail Partner of the Year at the JLR Retailer of the Year Awards in March when the business was honoured in five categories for its excellence in service and performance. 'Over the past seven years, Jaguar Land Rover has become an increasingly key part of our group and, as a business, we have been eager to augment our representation for some time following our previous acquisitions,' said Andy Sinclair, Managing Director, Sinclair Group. 'As we celebrate our 80th anniversary, this development is another significant landmark for us. It's an honour to represent JLR across the entirety of South Wales – the brands are world-class and to now showcase them from six sites is something we are very proud about.' He added: 'We're delighted to welcome the experienced Stratstone teams in Cardiff and Newport into the Sinclair Group family ensuring continuity of service and support in both locations. This marks an exciting new chapter for JLR in South Wales and we look forward to providing our new customers with the outstanding levels of service and an unrivalled retail experience that the Sinclair Group has become renowned for.' The Sinclair Group now represents 13 brands at 30 sites and employs over 1,000 staff. The association with Jaguar Land Rover began in 2018 with the takeover of the franchise in Hay-on-Wye. Land Rover Swansea was added to the Group's portfolio in 2019, whilst three years ago, the business moved into England for the first time with the acquisition of the Land Rover retailer in Ludlow together with its sister site in Aberystwyth. In 2023, Sinclair Jaguar Land Rover Swansea relocated to purpose-built premises on a five-acre site at Swansea Vale.
USA Today
3 days ago
- Sport
- USA Today
Eli Manning has high praise for Texas Longhorns QB Arch Manning
Eli Manning has high praise for Texas Longhorns QB Arch Manning In just a few months, the Manning Era will officially be underway in Austin. After showing flashes of his potential last year, Arch Manning enters the 2025 campaign as the Longhorn's starting quarterback. With expectations higher than ever, he has been busy improving his game and getting advice from his uncle, Eli Manning. The former Super Bowl winner recently made a media appearance for the Madden 26 video game and shared what he has seen from his nephew. "I think Arch has done a great job on just how he's handled these first two years of his college career," Manning said, per CBS Sports. " ... He's earned the respect of his teammates, his coaches, through his hard work, his dedication and excited to watch him this year. ... You see that hunger with him. He wants to get better, he wants to learn, he wants to ask. He asks me great questions, so excited to be there as part of his journey." During the 2024 campaign, Arch gave Texas fans a preview of what the future holds. In 10 games, the New Orleans native completed 61 of his 90 passes for 939 yards. He also found the end zone nine times and 93.9 yards a game. As Quinn Ewers battled injuries, Manning showed that he was ready for a starting role. His first test will come when the Longhorns open their season against Ohio State on Aug. 30 in Columbus. While getting a win against the defensive champs won't be easy, it is an opportunity for Arch to shine on the national stage, which his uncle is excited to see. "It's not going to be an easy task, you open up your kind of your college career at Ohio State, defending champs on the road, but it'll be exciting and just happy for him, because I know how hard he's worked," Eli Manning said. If Arch meets expectations, the 2025 season will be one Longhorns fans will never forget. Follow us on X (formerly Twitter) at @LonghornsWire.
Yahoo
6 days ago
- Business
- Yahoo
Strike CEO says proof of reserves lending is 'gonna change the world'
During a May 13, 2025 podcast with Natalie Brunell, Strike CEO Jack Mallers introduced the company's new Bitcoin-backed loan product. Strike, Arch, and Nexo are among the companies now offering Bitcoin-backed loans with nearly instant approval. Secured by Bitcoin holdings, these loans reduce lender risk and give borrowers access to cash without a credit check or extensive personal disclosures. This type of lending appeals to Bitcoin holders who are hesitant to sell because they believe in its long-term value or want to avoid triggering a taxable event. Borrowers can use the funds for a variety of purposes, including a home purchase, medical expenses, starting a business, or even acquiring more Bitcoin. It's especially attractive to those who want to keep exposure to Bitcoin while unlocking liquidity. It functions similarly to a home equity loan, in which holders borrow against the value of their Bitcoin without selling it. To get started, users deposit their Bitcoin with the platform or a trusted third-party custodian. Once approved, funds are typically available within minutes and can be used however the borrower chooses. Strike and its competitors partner with capital providers to fund loans, ensuring smooth access to cash backed by digital assets. The loan amount is based on the value of the Bitcoin provided as collateral. Most platforms start with a loan-to-value (LTV) ratio of around 50%, meaning a borrower with $200,000 in Bitcoin could access up to $100,000 in cash. Some lenders offer loans as small as $1,000. Others have no maximum cap, making this an appealing option for both individuals and corporate borrowers. Credit cards typically come with adjustable APRs, fewer flexible terms and limits. Bitcoin-backed lenders offer fixed APRs on 12- to 24-month terms, allowing for predictable repayment plans. As the market matures, borrowers can expect longer terms and lower interest rates. By borrowing against their holdings, users can quickly unlock cash while retaining growth potential, which has historically exceeded the loan's APR. Collateralized Bitcoin lending offers a compelling alternative to traditional credit products. Strike and similar platforms allow Bitcoin holders to unlock liquidity without selling and sacrificing long-term gains. Strike CEO says proof of reserves lending is 'gonna change the world' first appeared on TheStreet on May 29, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Nebraska advances bill codifying legislative oversight role dealing with executive branch agencies
Speaker John Arch of La Vista listens to State Sen. Danielle Conrad of Lincoln. Aug. 2, 2024. (Zach Wendling/Nebraska Examiner) LINCOLN — The Nebraska Legislature inched Wednesday toward clarifying the legislative branch's legal authority to provide oversight of how the executive branch spends the people's money, including how it handles children and adults under state supervision. Lawmakers advanced Legislative Bill 298 by voice vote. The measure, sought by Speaker John Arch, would create a new Division of Legislative Oversight and a new Legislative Oversight Committee. LB 298 would place the Ombudsman's Office, also known as the Office of Public Counsel, in the new division. 'We need information in this Legislature to legislate and appropriate,' Arch said, adding that senators require more information to do its job well than relying on news reports. State Sen. Eliot Bostar of Lincoln emphasized the need to dig deeper independently of reporters and the state auditor. He had wanted to add new employees who monitor spending by all levels of government as a job, an amendment that failed 7-22. 'We do not have adequate oversight over all of the levels of government, over all of the governmental bodies, over all of the political subdivisions in the State of Nebraska,' Bostar said. Senators spent much of the debate arguing about how specific the bill should be about response times for requested records from the agencies under the governor's control. Some also discussed the origins of the debate, whether senators need to pass a new law in response to a non-binding legal opinion in 2023 from Attorney General Mike Hilgers. State Sen. Danielle Conrad of Lincoln has argued the Legislature should have sued the executive branch and let the courts decide the limits of legislative oversight. Conrad has argued that Arch and the Legislature should not accept an executive branch interpretation of the limits of legislative power that lacks the power of law. It is, she said, an opinion. Evolving fix for Nebraska legislative oversight faces continued resistance 'I strongly disagree with how legislative leadership reacted to the attorney general's political opinion, which undermined our undeniable ability to conduct legislative oversight,' she said. On Wednesday, Conrad argued that if the Legislature was going to proceed on codifying its oversight role, it should specify a timeline for record requests and responses. She said her overarching goal was making sure that the state agencies that the Legislature funds understand that lawmakers are watching how they work, that 'the agencies are on notice.' Arch responded that he agreed with her that a time may come when the Legislature has to set a number of days but that the experience under a memorandum of understanding has been good. He said the inspectors general for corrections and child welfare tell him that the offices are getting information in a timely manner, often four to seven days, so deadlines aren't needed yet. But State Sen. Machaela Cavanaugh of Omaha, who has long fought with the Nebraska Department of Health and Human Services for timely information, said agencies should not have the option. Cavanaugh and Conrad pointed to an Ombudsman's Office report that argued the administration has been less accessible and slower in responding to the child welfare questions. 'I appreciate Speaker Arch's comments … that it hasn't been a problem recently, but that's part of the reason that we put things in statute,' Cavanaugh said. Under the bill, the Legislature's watchdogs would retain the subpoena power to demand documentation and answers. Using that power would require a majority vote of the Executive Board. Lawmakers seemed to agree that their oversight would need to pause during criminal investigations and that lawmakers might not be able to access every bit of executive information. Arch has said the Legislature and executive branch sought a balance to make sure state senators get the information they need and that the executive branch can carry out its work. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
