fund

Bustamante Is Urged to Cancel Ads Involved in Fund Dispute

A day after a judge found that Lt. Gov. Cruz Bustamante’s fund-raising practices violated state law, a state senator wrote to Bustamante’s lawyers demanding that he cancel any remaining advertising paid for with disputed donations.

“To fail to do so is open defiance of the judge’s order” that the money in question be returned, said the letter sent Tuesday by state Sen. Ross Johnson (R-Irvine), whose lawsuit led to the ruling.

Superior Court Judge Loren McMaster of Sacramento on Monday said Bustamante should not have spent funds that he raised in excess of current state limits, although the money went into an account created before the limits took effect. Bustamante’s violation was in moving the money to a new account and then spending it on the ads, McMaster ruled.

The judge issued a preliminary injunction that forbids Bustamante to transfer any more of the disputed money to his current campaign.

Bustamante campaign strategist Richie Ross said the money, as much as $4 million, had been spent. The ads it paid for were in opposition to Proposition 54, an initiative that will share the Oct. 7 ballot with the recall measure.

On Tuesday, Ross said the ads paid for by the disputed money will expire Thursday, and commercials airing as of Friday will be paid for by money that is not a focus of the lawsuit.

“We’re going to obey the court’s order,” Ross said. “We will do that to the letter.”

Bustamante accepted donations of $100,000 to $1.5 million in the old account from labor unions and Indian tribes. He then established the new fund to oppose Proposition 54, the initiative that would restrict government’s ability to collect some racial and ethnic data.

The anti-Proposition 54 ads he paid for were taped at a Bustamante-for-governor campaign rally and feature him denouncing the initiative. Johnson contended that the ads were an integral part of Bustamante’s campaign to replace Gov. Gray Davis if he is recalled.

Bustamante began airing the commercials last week. The cost of airing television ads statewide is about $2 million per week.

Johnson said that if Bustamante refuses to cancel the remaining ads and obtain refunds from television stations, he will ask McMaster to hold Bustamante in contempt of Monday’s order.

“They have an obligation to say when and where and how they’ve spent that money, and whether it is irretrievable,” Johnson said.

Source link

Japan moves to revive shipbuilding with 1 trillion yen fund

Japan’s new submarine “Jingei” is seen during the launching ceremony at Kobe Shipyard & Machinery Works of MHI in Kobe, Hyogo-Prefecture, Japan on October 12, 2022. A diesel-electric Taigei class submarine “Jingei” is 3,000-ton with system of TCM (Torpedo Counter Measure) and may launch the Boeing UGM-84L Harpoon Block II, about 70 crew and has dwelling compartments for six females. File Photo by Keizo Mori/UPI | License Photo

Dec. 15 (Asia Today) — Japan’s shipbuilding industry is moving to rebuild after a prolonged slump, with the government establishing a 1 trillion yen ($6.42 billion) support fund and preparing a mid- to long-term industrial strategy dubbed the “Shipbuilding Revitalization Roadmap,” according to the report.

Tokyo is also promoting an “All Japan” framework that links the shipping and shipbuilding sectors, redefining shipbuilding as a national strategic industry. The shift is being closely watched by South Korea’s shipbuilders as Japan seeks a policy-driven pivot after its presence weakened amid aggressive competition from China and South Korea.

Japan was a global shipbuilding powerhouse in the early 1970s, accounting for about half of worldwide shipbuilding volume. After the oil crisis, however, large-scale facility investment largely stalled for more than 50 years due to volatility in shipping markets and uncertainty in ship demand. During that period, South Korea and China rose to the center of global shipbuilding through government-led investment and support, the report said.

Japan’s share of global merchant-ship orders remains in the single digits, the report added. The rebuilding drive stems from a growing view in government and industry that shipbuilding is not only a competitiveness issue but also a matter of national infrastructure.

The initiative goes beyond financial injections for individual companies, the report said. The government has set a goal of doubling annual shipbuilding volume over the next decade, while prioritizing a stronger production base and the recovery of technological and design capabilities.

A key feature is an effort to tighten coordination between shipbuilders and shipping lines. The report pointed to agreements between major shipping groups and shipbuilding and design firms to standardize designs for next-generation fuel vessels, aiming to link domestic industries from the ordering stage through operations and improve competitiveness.

The approach differs from South Korea’s export-driven shipbuilding model,which competes globally for orders from shipowners, the report said. Japan, bycontrast, is positioning its alliance with domestic shipping as a core pillarof its industrial strategy.

While South Korea already holds top-tier competitiveness and leads globalorders in high-value-added vessel types, Japan’s current move reflects a changein national-level perceptions of shipbuilding, the report argued.

Japan is framing shipbuilding not simply as an export industry but as afoundational sector supporting maritime logistics, citizens’ livelihoods,economic activity and national security. The policy push raises questions abouthow the state can ensure the industry’s sustainability despite its cyclicalvolatility, the report said.

It remains too early to judge whether Japan’s reconstruction drive will deliver tangible results. But the report said the Japanese government and industry have returned shipbuilding to the center of national strategy – a signal that the East Asian shipbuilding landscape may be shifting again.

-Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Source link

John Hunt: Glengouly wins Cheltenham race in support of family fund

Glengouly won Saturday’s big race at Cheltenham, which was run in support of a charitable initiative created by BBC commentator John Hunt and his daughter Amy.

The Hunt Family Fund was set up after John’s wife, Carol, and their daughters Hannah and Louise were murdered at their home in Bushey, Hertfordshire in July 2024.

Saturday’s December Gold Cup carried the name of the fund, which will support causes that help and inspire young women.

The 33-1 outsider Glengouly gave trainer Faye Bramley the biggest victory of her career.

John Hunt commentated on the race for BBC Radio 5 Live, before presenting the prizes in the winners’ enclosure with Amy.

“We share many phrases together, and one of them is that in our situation you have to go through the uncomfortable to become more comfortable,” he said.

Glengouly was ridden to victory by champion jockey Sean Bowen for Bramley, who is based at a yard owned by former champion AP McCoy.

Bramley took over training of the winner, who finished down the field in this year’s Grand National, from champion Irish trainer Willie Mullins in May, and this was the horse’s first win in three years

Vincenzo (7-2) was one and a half lengths back in second, with 11-4 favourite Jagwar third.

“It’s brilliant to win a race named after John’s family,” said Bowen as the winning horse returned to the strains of It’s All About You by McFly – Amy Hunt’s favourite band.

Source link