Coastal Storm to Salt Streets Ocean City-Style

first_imgThe National Weather Service issued a winter storm watch in effect for the region Wednesday night through Thursday afternoon, but Ocean City will have to worry more about the sea than the sky.A near-full-moon tide, northeast winds gusting up to 40 knots (46 mph) and heavy rain likely will combine to flood some streets — particularly during a high tide 7:04 a.m. Thursday (Feb. 13).Residents on flood-prone streets will want to consider moving their vehicles to higher ground during the nor’easter.The watch suggests inland areas could see as much as 4 to 12 inches of snow in a storm that will start as all snow but change over to a snow and sleet mix on Thursday morning, then all rain on Thursday afternoon. The changeover is predicted to start much earlier at the shore with only minimal accumulation of snow.Wet snow on power lines and heavy winds could lead to power outages in some areas. Thursday’s tidal flooding will be accompanied by sustained winds of 28 to 35 mph and seas 8 to 11 feet, according to the marine forecast. The full moon occurs on Friday (Feb. 14), and Thursday’s tide level is predicted to be higher than usual (3.88 feet). (See real-time tide levels at the Bayside Center on the 500 block of Bay Avenue in Ocean City.)The low temperature on Wednesday night will dip to 31 degrees, according to the National Weather Service forecast. But the high on Thursday will be well above freezing at 40 degrees. The sun is expected to return by Saturday.NBC40 meteorologist Dan Skeldon predicts the greatest snowfall northwest of the Interstate 95 corridor.“Along the shore, rain, wind, and tidal flooding impacts likely greater than any snow impact,” Skeldon said. “Any change in storm track can change the rain/snow line and these ideas. But you would need a pretty dramatic shift to bring heavy snows all the way to the shore. ”_____last_img read more

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No bidders for bankrupt Westmoreland’s core coal mine assets

first_imgNo bidders for bankrupt Westmoreland’s core coal mine assets FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Westmoreland Coal Co.’s creditors are slated to take over its core assets after the company did not secure another qualified bid for the mines.The creditors served as a stalking horse bidder during Westmoreland’s Chapter 11 proceedings and will acquire the coal producer’s core assets, including its Canadian business and operations at its San Juan and Rosebud mines, in exchange for debt relief. Westmoreland canceled a core asset auction scheduled for Jan. 22 since there were no other bidders, according to a Jan. 21 filing with the U.S. Bankruptcy Court of the Southern District of Texas, Houston division.The company received several bids for its Buckingham coal mine in Ohio and intends, pending the court’s approval, to sell the mine to an as-yet-unformed holding company for $1 million and pay between $16 million and $20 million to the same entity to take on the assets of another 15 Ohio and Kentucky mines. Experts said high reclamation costs associated with the operations likely influenced the low price tag on the Buckingham mine and payment to transfer the other operations.Westmoreland said in the filing that it received bids for other noncore assets, though they were not qualified. Those assets may include the Absaloka and Savage mines in Montana, the Beulah mine in North Dakota, the Haystack mine in Wyoming and the Jewett mine in Texas. The company will continue to evaluate bids, but those assets may be acquired by the creditors as well.The sale of the noncore assets hinges largely on whether the bankruptcy court allows Westmoreland to shed its collective bargaining agreements with the United Mine Workers of America and $329.4 million in retiree benefits, which the creditors refuse to take on, according to a Jan. 16 filing. The court will hold a hearing on that proposal at 9 a.m. CT Feb. 4 in Houston.More ($): Westmoreland Coal creditors to take over its core assetslast_img read more

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MLA, FFIEC eyed in NAFCU January webcasts

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU webcasts in January will focus on the proposed rule amending the Defense Department’s Military Lending Act requirements, which would affect all credit unions, and cybersecurity requirements from the Federal Financial Institutions Examination Council.NAFCU Associate Director of Legislative Affairs and Military Liaison Quincy Enoch will host the MLA webcast, scheduled Jan. 13 at 2 p.m. Eastern. The proposed change in MLA implementation would apply a 36 percent military annual percentage rate cap to more consumer credit products and require credit unions to check all consumer credit applications against a DoD database to see if the rule’s provisions apply to them. Enoch will focus on the current rule’s provisions, what compliance issues would arise from the change and how NAFCU is working to reduce the associated compliance burden for credit unions. Attendees who register by Jan. 6 will save $100.Randy Romes, a principal at Clifton, Larson & Allen LLP, will speak about cybersecurity and the latest trends in cyber-fraud during a webcast scheduled Jan. 28 at 2 p.m. Romes will focus on the new cybersecurity governance requirements from the FFIEC and how to apply the requirements to credit unions’ management programs. Attendees who register by Jan. 21 will save $100. continue reading »last_img read more

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Swans and Spurs tie up deals

first_img Sigurdsson returns to Swansea where he enjoyed a successful loan spell in 2012, scoring seven goals in 18 top-flight appearances. Davies, 21, has signed a five-year contract at White Hart Lane while 30-year-old Vorm has penned a four-year deal. Swansea have confirmed the signing of Gylfi Sigurdsson from Tottenham and the sale of Ben Davies and Michel Vorm to the north London club for undisclosed fees. Sigurdsson joined Spurs from Hoffenheim in July 2012 but struggled to establish himself in the starting side. The Iceland midfielder has signed a four-year contract and becomes Swansea’s fifth signing of the summer following moves for Bafetimbi Gomis, Marvin Emnes, Lukasz Fabianski and Stephen Kingsley. For Tottenham, Davies and Vorm are the club’s only arrivals of the window so far and Mauricio Pochettino’s first acquisitions since taking charge. Davies earned a professional contract with Swansea in 2011 and has impressed in the first team, winning the club’s Young Player of the Year award for the past two seasons. Tottenham had to fight off competition from Liverpool to land the young full-back, who has also earned 10 caps for Wales. Davies’ arrival brings into question the future of Danny Rose, who said at the start of last season he would not be happy sitting on the bench at White Hart Lane. center_img Press Associationlast_img read more

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