Sky profits soar despite distractions

first_img BSKYB proved yesterday that behind the media sideshow surrounding its potential new owner and its wayward sports presenters lies a powerful profit-making machine.The broadcaster saw its profits soar 40 per cent year-on-year for its second fiscal quarter as it added an extra 140,000 new customers. Revenue for the period was up 15 per cent to £1.66bn. Net profit hit £179m, compared to £128m the year before, buoyed by demand for Sky’s new hardware, including 70,000 people paying for its 3D services and 343,000 new HD users.Customers were on average paying a record £541 a year. Only 9.5 per cent of them left on an annualised basis, which was also better than expected.Sky has become its own biggest story in recent weeks, with News Corp owner Rupert Murdoch’s £7.8bn bid for the firm playing out as a political soap opera in Westminster.Sky’s results revealed it has spent £7m in relation to the bid so far and this looks set to rise if, as he has indicated, culture secretary Jeremy Hunt recommends a full Competition Commission investigation.Sky Sports sensationally axed presenter Andy Gray, while Richard Keys resigned after they were recorded making sexist remarks about a female referee’s assistant. The on-going phone-hacking scandal involving the News of the World, owned by News Corp, has also attracted intense media attention. KCS-content whatsapp Sky profits soar despite distractions whatsapp Share Thursday 27 January 2011 8:46 pm Show Comments ▼ Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof last_img read more

6 May: Where’s the action?

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic. Topics: Sports betting 6th May 2020 | By contenteditor Subscribe to the iGaming newsletter Email Addresscenter_img Tags: Mobile Online Gambling 6 May: Where’s the action? Sports betting iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic.Badminton Armenia’s Infinity Cup returns, the only badminton action in the coming 24 hours.Baseball China’s Professional Baseball League and its reserves and South Korea’s Baseball Championship are the only leagues playing. Basketball Chinese Taipei’s women’s Super Basketball League is the only competition in action. Darts The remote Icons of Darts Live League and PDC Home Tour are rejoined in the schedule by the Czech Premier League.Football With no leagues in action in the next 24 hours, club friendlies are the only matches happening. Golf Arizona hosts today’s fixtures, with the Cactus Tour’s Desert Canyon event beginning its first round, and the Golden State Tour’s Legacy Classic moves into its third.Greyhounds There are 16 Australian tracks holding races in the next 24 hours, joined by Addington and Cambridge in New Zealand and Palm Beach in the US.Horse Racing There is action at 11 tracks in Australia, complemented by racing from Hong Kong’s Happy Valley; Japan’s Funabashi; Bjerke in Norway; Bro Park, Solvalla and Bergsaker in Sweden; and Fonner Park, Tampa Bay and Will Rogers Downs in the US.Ice Hockey Once again, only short form matches are available, in Russia’s Liga Pro and Comet Division.Table Tennis Armenia’s ITT Cup League; Brazil’s Exhibition Autumn League; Germany’s Challenger Series; Russia’s Liga Pro and Masters League; and Ukraine’s Setka Cup, TT Cup and Win Cup are all playing.Tennis Poland’s Marbello Cup joins the Belarus Masters League and Russian Liga Pro and Spring Tour in the day’s tennis schedule. Volleyball Today’s round-up concludes with Russia’s women’s Liberty League.This list is not intended to be exhaustive, and all events are subject to change.Abelson Info was set up by Ed Abelson in 2003 to supply the bookmaking industry with the crucial sports data it required as the online betting industry began to boom. Starting with just a handful of employees and even fewer clients, the business has since grown and evolved to accommodate the ever-changing requirements of the industry.We now supply data and technical services to the majority of the top tier bookmakers and platform providers in the UK, along with many of the biggest media corporations and development firms across the world. We have a stellar reputation for delivering top quality data and are always on hand to support customers, 24 hours a day, 365 days a year.last_img read more

High growth shares I’d buy now to get rich and retire early

first_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Anna Sokolidou | Friday, 3rd July, 2020 “This Stock Could Be Like Buying Amazon in 1997” Image source: Getty Images. High growth shares I’d buy now to get rich and retire early Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Anna Sokolidou has no position in any of the companies mentioned in this article. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK owns shares of and has recommended Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img High growth shares, and IT stocks in particular, have overperformed the broader market in the last several years. Imagine buying Amazon in 2009! But there are still lots of industries now that can help you get rich and retire early.To start with, I consider myself to be a value investor. That is, I prefer to invest in large companies with good balance sheets and long operational histories. At the same time, I prefer to buy them at low multipliers. And I still believe that a large percentage of an investor’s portfolio should consist of such companies. Buying a FTSE 100 index fund would be an even better decision for novice investors who hate risks.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…However, I’d also like to talk about high growth shares. They tend to be issued by smaller companies operating in innovative industries. They seem to be much less conservative, but at the same time they offer plenty of opportunities to get rich.  High growth sharesThere is a handful of industries now that offer extraodinary potential for growth. Electric vehicles (EVs) still seem to be one of these. But EVs don’t appear out of nowhere. So, there are many businesses directly benefitting from rising vehicle sales.To start with, EVs need electric batteries to operate. Lithium and cobalt are essential materials for these batteries. What is more, lithium and cobalt are important components of other electric batteries, including the ones used in e-scooters, smartphones, and laptops. Although the demand for laptops and smartphones kept increasing before the Covid-19 outbreak, the growth rate was not as high as for EVs. Most cobalt comes from the Democratic Republic of Congo, and it seems to me that there will be a big deficit of this material quite soon. So, companies with access to cobalt have a strategic advantage. We can say a very similar thing about rare earth metals, which are also necessary for making EV motors. 90% of them are mined in China. The problem is that there is plenty of uncertainty about US-China relations. Last year I read about the possibility of China refusing to export rare earth metals to the US. If this really happens, countries mining the remaining 10% of these metals will benefit. Most importantly the mining companies will benefit, of course.  How to retire earlyObviously, EV companies and their suppliers are not the only high growth industry. There are plenty of other high growth areas worth considering for an enterprising investor. But it’s necessary to choose carefully before buying the businesses operating in these sectors. It is essential to analyse accounting fundamentals before buying a firm’s shares. If you choose the ‘right’ industries and the ‘right’ high growth shares, you will most probably get rich and retire early. Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. See all posts by Anna Sokolidou Our 6 ‘Best Buys Now’ Shares Enter Your Email Addresslast_img read more

Dogs Trust creates greetings card shop on Facebook

first_img Howard Lake | 17 November 2011 | News Dogs Trust creates greetings card shop on Facebook Dogs Trust has created a greeting card shop as part of its page on Facebook, allowing users of the site to send greeting cards to friends and family and raise funds for the charity. The charity claims that this is the first greeting card shop to be launched on Facebook.The card buying platform was developed by greeting card firm Charity Greetings, and it offers cards for a wide variety of occasions, including of course Christmas.Founder of Charity Greetings, Craig Hartzel said: “There are 800 million Facebook users worldwide, and it’s estimated that 1 in 6 web pages looked at in the UK is a Facebook page. It seems only right to treat Facebook as if it is a separate Internet platform. For this reason it makes sense to integrate our charity card shop technology within Facebook’s pages to help charities.” Advertisement Users of the shop are invited to send a donation to Dogs Trust at the same time as sending the card.Dogs Trust greetings card shop on Facebook by www.charitygreetings.comJacqui O’Beirne, Digital Manager of Dogs Trust said: “We’re always looking at new ways to raise awareness of the charity and our current online card shop is consistently providing a new stream of revenue for us.“Being the first charity to launch the Facebook card shop was an easy decision for us and we can’t wait for our 230,000 fans to start using the platform.”  90 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1center_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 Tagged with: CharityGreetings christmas Digital Facebook Trading About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving.last_img read more

Israel punishes jailed Palestinians for support of U.S. prison strike

first_imgPalestinians confined in Israel’s brutal prisons issued a statement of solidarity on Aug. 20 with the National Prison Strike in the U.S. Members of the Popular Front for the Liberation of Palestine expressed the utmost support for their sisters and brothers jailed in this country’s horrific system of mass incarceration who courageously launched a nationally coordinated protest against their imprisonment and the oppressive conditions they face. The prison protest against “modern-day slavery” began on Aug. 21 and ran through Sept. 9.For bravely carrying out this act of international solidarity and other acts of defiance, Israeli prison officials retaliated against imprisoned PFLP leaders on Aug. 29. They transferred Ahed Abu Ghoulmeh from Hadarim prison to Ramon prison, moved Wael Jaghoub to Gilboa prison and sent Mohammed Musa Khdeir to Ramon. All PFLP members held in Megiddo prison were put into solidarity confinement after protesting the horrendous conditions in the facility and denial of their human and legal rights.The blog of Samidoun: Political Prisoners Solidarity Network reported this story. It explains Israel’s fury after the PFLP prisoners “recently released a widely distributed statement in solidarity with U.S. prisoners engaged in work stoppages, boycotts and hunger strikes against forced prison labor, racism and exploitation inside U.S. jails.”The strike began on the 47th anniversary of the murder of George Jackson, “an event that was recognized in Palestine and around the world as an assassination of a true voice of struggle by the U.S. ruling class.” The prison strike is “a struggle of oppressed and exploited workers” who are “confronting the unmasked brutality of capitalism behind bars” and demanding “an end to the new form of slavery” — corporate exploitation of the incarcerated.The statement expresses solidarity with Black, Latinx and Arab people who face mass incarceration. The same ruling class that “profits from confiscating Palestinian land and resources and bombing children in Yemen also profits from the forced labor of prisoners.” And it adds: “Your struggle is a workers’ struggle that is part of the global conflict against the vicious exploitation that our peoples face today.”The Palestinians behind bars extend a “revolutionary salute to the imprisoned strugglers of the Black Liberation movement and other liberation movements, including Mumia Abu-Jamal,” and call for the release of freedom fighters, from Leonard Peltier to Mutulu Shakur. They recognize the prisoners’ strike “within the heart of U.S. imperialism, the greatest danger faced by our Palestinian people and the peoples of the world.“[Y]our victory will be a victory for Palestine,” they stress, just as Palestinians’ victories “will be a victory for all struggles against imperialism, racism and oppression within the United States and globally.”Workers World newspaper published the entire PFLP statement in its Aug. 30 issue; read “Palestinians extend solidarity to U.S. prison strike” posted at The introduction expresses solidarity with the heroic 6,000 Palestinians currently incarcerated by the repressive Israeli regime for the “crime” of fighting for the liberation of their people. There is also extensive coverage of the prison strike and support actions across the U.S. at the website.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Limerick TDs challenged over unpaid water charges

first_imgPredictions on the future of learning discussed at Limerick Lifelong Learning Festival Twitter NewsLocal NewsLimerick TDs challenged over unpaid water chargesBy Alan Jacques – April 2, 2015 679 RELATED ARTICLESMORE FROM AUTHOR Email Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” Advertisement Limerick’s National Camogie League double header to be streamed live Facebook Previous articleJazz seven-piece with Paul DunleaNext articleApril be poetry month Alan Jacques center_img by Alan [email protected] up for the weekly Limerick Post newsletter Sign Up Cllr Maurice QuinlivanSINN Féin councillor Maurice Quinlivan has called on Limerick’s Fine Gael and Labour Party TDs to state their position on the government enacting legislation to allow unpaid water charges to be deducted from people’s wages and social welfare payments.Cllr Quinlivan insists that Environment Minister Alan Kelly’s refusal to rule out what would be a “despicable move” creates clear questions for the Limerick government TDs.“Will they support the fast tracking on people through the District Courts to enforce payment? The people of Limerick deserve to know where their public representatives stand on what would be a draconian measure.“The government are spinning hard to create the false impression that the movement against water charges has run out of steam. This is plainly nonsense. They have once again resorted to deplorable bully boy tactics and scaremongering,” he added.When the Limerick Post contacted local Fine Gael and Labour TDs for a response, Education Minister Jan O’Sullivan commented, “The Government hasn’t discussed proposals in relation to the non-payment of water charges. However, Minister Kelly has stated that there will be a very clear distinction between those who can’t pay and those who won’t pay.”“I support this approach and look forward to discussing Minister Kelly’s proposals. Let’s be clear, we have under invested in our vital water infrastructure for decades. The new system, part funded by a charge, can provide us with the safe, secure and modern water service we need,” she said. WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Linkedin TAGSCllr Maurice QuinlivanFine GaelLabour PartylimerickMinistSinn Fein Print Vanishing Ireland podcast documenting interviews with people over 70’s, looking for volunteers to share their stories WhatsApp Limerick Ladies National Football League opener to be streamed livelast_img read more

Edwards LifeSciences will do ‘amazing things’ for medicine

first_imgTechPost | Episode 9 | Pay with Google, WAZE – the new Google Maps? and Speak don’t Type! Previous article#YourCouncilDay twitter campaign highlights Limerick City and County Council servicesNext articleOn Simple Poems made with love Staff Reporter Print TAGS#MedTechbusinessdevelopmentInterviewLimerick City and CountyNews Facebook Limerick businesses urged to accept Irish Business Design Challenge WhatsApp Linkedin Advertisement Exercise With Oxygen Training at Ultimate Health Clinic center_img Email Limerick on Covid watch list RELATED ARTICLESMORE FROM AUTHOR Ann & Steve Talk Stuff | Episode 29 | Levelling Up Housing 37 Compulsory Purchase Orders issued as council takes action on derelict sites Twitter NewsBusinessEdwards LifeSciences will do ‘amazing things’ for medicineBy Staff Reporter – April 12, 2019 2094 “IT’S going to be a very very exciting facility for us. We’re going to change people’s lives with what we manufacture here.”The enthusiasm with which Edwards LifeSciences Ireland boss Nathan Tenzer said those words resonated with the attendance at the sod-turning ceremony for the company’s new manufacturing base in Castletroy.Sign up for the weekly Limerick Post newsletter Sign Up Like his 50-strong workforce, the affable  Californian believes that enormous consequences flow from the company’s production line of life-saving heart devices.“There is a saying developing amongst our crew at the moment in Shannon and that is that “we work for a cause, not for a company”.Speaking in the days after Edwards LifeSciences confirmed that their investment in Limerick would double to €160 million, Mr Tenzer said that the new manufacturing facility will be a global leader in patient-focused innovations for structural heart disease and critical care monitoring.Almost ten per cent of the 280,000 square foot plant will be dedicated to building heart devices in a cleanroom environment.“Nobody is really all that interested in that technical stuff, but I am. In saying that, I am probably more interested in the stories that will form and the people we are going to be bringing in.“The company employs 13,000 globally, but this will be one special site – in fact it is a going to be a key site for us.”“By 2020, this is going to be our home”.Home, for now is in Shannon with his “50 ambassadors for Ireland, the region and Edwards LifeSciences”.The new home that will be created when 600 staff move to the Castletroy base will start producing devices and creating technology by 2021.“The Limerick facility will be our European launchpad for some amazing technologies.“We have an extremely robust pipeline of products as we invest about 17 per cent of our gross revenues back into our products so when you do the math, that’s a nice chunk of €3.8 billion – or three times what most companies invest in research and development.“The technologies we are talking about will solve problems that people don’t have solutions for right now.“People are going home sick and they are being told that they have to get their affairs in order because the technologies don’t exist right now to help them.It really is cutting edge, the 39-year-old father of three explains.“You only have to look at TAVI (Transcatheter aortic valve implantation) and what that has done to medicine. People who were too sick for open heart surgery now have an option.“They got years back on their life – and that’s not just extending their life, it is quality of life.“Grandparents can be around for grandchildren, they can watch them take those first steps, see them grow and even graduate.“In our new facility, we will be looking to solve the problems of today and give people that same quality of life that they were going to be starved of.Tenzer is adamant that Edwards Life Sciences, in Limerick will be breaking ground to offer quality years to those who were facing something far less.“By the end of 2020, we will have that facility constructed. We will be able to help tens of thousands of those life-changing stories by the end of 2021 – which is fast.The current facility in Shannon will operate it in parallel with the new base in Castletroy.Referring to the Limerick site, he said there were other places that were cheaper, “but you cannot replace the pride that people here have for the purposeful work they do.“It’s a powerful thing to be talking about giving people options and to give them their lives back and families more time with their loved ones. It’s all pretty amazing”.last_img read more

The Hurdles Ahead for Real Estate Professionals

first_img Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Previous: Artificial Intelligence, Real World Results Next: FHFA’s Final Rule on Uniform Mortgage-Backed Security Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe  Print This Post March 6, 2019 2,207 Views Related Articles Demand Propels Home Prices Upward 2 days ago Affordability Homeownership HOUSING NAR real estate Technology virtual firms 2019-03-06 Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Real estate firms are optimistic about the industry’s future growth, despite challenges like competition from non-traditional market participants and virtual firms, according to the National Association of Realtors’ (NAR’s) 2019 Profile of Real Estate Firms.The report, which is based on a survey of NAR’s Brokers of Record membership, looked at the demographics, composition, and characteristics of real estate firms from the perspective of executives and managers. The report noted that 57 percent of the firms surveyed expected their profitability from all real estate activities to increase in the next year. However, they also saw competition increasing during this period.While 44 percent of firms expected competition from virtual firms to increase next year, 43 percent believed that most of the competition would come from non-traditional market participants. Keeping up with technology and housing affordability were among the other challenges that real estate firms saw over the next two years.”It is clear that the real estate industry is rapidly changing, and with that comes growing competition in the market,” said Bob Goldberg, CEO, NAR. “NAR continues to stay ahead of the evolving trends in technology as we work with market disruptors to best serve our members and ensure they have the resources needed to be successful.”Looking at affordability concerns specifically, 58 percent of firms were concerned with millennials’ ability to buy a home, 46 percent with millennials’ view of homeownership, and 26 percent with Baby Boomers retiring as real estate professionals.”Real estate firms continue to look optimistically toward the future, with a majority expecting profits to increase in the next two years,” said John Smaby, President, NAR. “These trends are positive signs, particularly in our constantly evolving industry.”The report noted that over 80 percent of real estate firms had a single office, typically with two full-time real estate licensees, down from three licensees indicated in the previous report in 2017. Firms with only one office had a median brokerage sales volume of $4.2 million in 2018 (down from $4.3 million in 2016), while firms with four or more offices had a median brokerage sales volume of $100 million in 2018 (down from $235.0 million in 2016).Click here for the full report. Tagged with: Affordability Homeownership HOUSING NAR real estate Technology virtual firms Home / Daily Dose / The Hurdles Ahead for Real Estate Professionals Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Sign up for DS News Daily The Hurdles Ahead for Real Estate Professionalslast_img read more

Severe storms continue to move east with flooding possible in Southeast

first_imgABC News(NEW YORK) — The storm that dumped over a foot of snow from Washington to Colorado over the past two days is continuing to push east on Thursday.Numerous states from the east to west are under flood, snow and high wind alerts.The storm system will move into the Southern Plains on Thursday, bringing heavy rain and storms ahead of it, from the Gulf Coast into the mid-Mississippi Valley.A few of the storms could become severe with damaging winds, hail and even an isolated tornado. Flash flooding is also possible.The storm system will not move much on Friday, but the rain ahead of it will spread into the Southeast — the areas that just got hit with heavy snow and ice last weekend.Damaging winds, hail and a few tornadoes — as well as flooding from heavy rain — are possible from Florida to the Carolinas.The heavy rain moves up the East Coast into the Mid-Atlantic on Friday night into Saturday morning and into the Northeast by Saturday afternoon.Some flash flooding is possible from the heavy rain.Some areas from northern Florida to the Carolinas could see more than 4 inches of rain as the storm moves through the eastern U.S.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Amazon to put $2B into affordable housing

first_imgAmazon CEO Jeff Bezos (Getty; iStock)When Amazon planned to build a corporate headquarters in New York City, opponents claimed the influx of high-paying jobs would drive up housing prices, just as it had in the company’s base, Seattle. The argument helped defeat the project.Two years later, Amazon is pledging to plow more than $2 billion into affordable housing where its employment hubs are, the Wall Street Journal reported.Read moreApple follows Google, Facebook with $2.5B Cali housing planOutsiders for years, NYC yimbys move into mainstream“We are erring on the side of having too much capacity”: Amazon reports massive Q3 Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Amazon will make the investments and donations over the next five years in Seattle, Nashville and Arlington, Virginia. The e-commerce giant has more than 75,000 workers in the Seattle area and plans to have at least 5,000 employees in the other two regions in the next five years.ADVERTISEMENTThe money will come in the form of low-cost loans to preserve or build affordable housing, and in grants to public agencies and minority-led housing organizations.“We don’t have control over how the [housing] markets respond to a large employer coming into the market or expanding in the market, but we can play a role in how Amazon’s growth is impacting our local communities,” Catherine Buell, head of community development for one of Amazon’s philanthropic arms, told the Journal. “Particularly as we’re expanding our corporate presence, we’re working to get ahead of the issue as much as we can.”Other tech companies have made similar moves, including Alphabet’s Google, which has committed $1 billion toward Bay Area housing, and Apple, which is spending $2.5 billion for housing throughout California.Housing advocates have said that while the contributions are welcome, they will not move the needle much and are not a substitute for policy reform by states and localities to curb housing costs.[WSJ] — Sasha Jones Share via Shortlink Tagsamazonpublic housingResidential Real EstateTechnologylast_img read more