Finance
Weekend reads: NCSU's cancer cluster, campaign finance issues, and a $804K charter school error | NC Newsline
Breast cancer cluster suspected at NC State’s Poe Hall, contaminated with PCBs; separate study shows those chemicals linked to that cancer
By Lisa Sorg
A 2020 study of nearly 800 North Carolina women found that PCBs might increase the risk death from breast cancer, raising questions about a suspected cluster at N.C. State’s Poe Hall, which is contaminated with high levels of the toxic chemical. In addition, among women who already have breast cancer, the study found PCBs could contribute to deaths from all causes. PCBs are known to accumulate in breast tissue.
Sampling results from Poe Hall in November showed extremely high levels of PCBs in multiple rooms and in air handling systems, Newsline reported. [Read more…]
Expanded Medicaid managed care for people with mental illness or disabilities to begin July 1
By Lynn Bonner
New managed care plans for North Carolinians whose mental health treatment or disability care is coordinated and paid through regional mental health offices will launch on July 1.
Under these “tailored plans,” regional mental health offices called “Local Management Entities/Managed Care Organizations” will pay for health care for people with mental illnesses, developmental disabilities, substance use disorder, or traumatic brain injury. [Read more...]
US Army to begin excavating up to 300 tons of contaminated soil at former missile plant in Burlington
By Lisa Sorg
The U.S. Army Environmental Command this month is scheduled to begin excavating as much as 300 tons of contaminated soil at the Tarheel Army Missile Plant in Burlington, city officials announced this week. This is the first step in a renewed effort to cleanup extensive contamination at the abandoned 22-acre site at 204 N. Graham-Hopedale Road. The site is known locally as the Western Electric plant because it had a military contract to build Nike missile guidance systems there during the Cold War. [Read more...]
Rocky Mount charter school leader says ‘coding error’ caused unexplained expenses
By Greg Childress
The leader of Rocky Mount Preparatory Academy told the Charter School Review Board on Monday that the more than $804,000 in unexplained expenses that threatened to close the school last year was mostly a coding error.
Last August, the former Charter School Advisory Board warned school leaders that it could be forced to close due to its poor academic performance and unexplained expenses. [Read more…]
Bonus read: Charter renewals spark debate among review board members
DOJ lawyer tells Appeals Court imprisoned man can serve the same sentence twice
By Kelan Lyons
A lawyer for the North Carolina Department of Justice argued in court Wednesday that a man should be allowed to serve the same prison sentence twice, even though he had already done his time for that crime.
“This is a question of what authority does North Carolina’s statutory law give a trial judge at re-sentencing,” said Heidi M. Williams, special deputy attorney general. “If the language of that statute confers that authority on the sentencing judge to exercise in his or her discretion, this court should not limit that authority that has been given to the sentencing court by the General Assembly.” [Read more…]
North Carolina AG’s office pushes for delay in key Racial Justice Act hearing
By Kelan Lyons
Johnston County prosecutor once compared Black defendants to wild dogs and hyenas, hunting their victims “like the predators of the African plain”
A hearing scheduled for later this month could clear a path for the 136 people on North Carolina’s death row to one day get resentenced to life without the possibility of parole — or bring them one step closer to the execution chamber.
Beginning Feb. 26, attorneys are scheduled to present evidence to a Johnston County Superior Court judge arguing that race significantly affected prosecutors’ actions during jury selection, not just in the underlying case of Hasson Bacote, but in capital cases throughout North Carolina.[Read more…]
Latest NC campaign finance reports raise important questions, concerns
By Bob Hall
North Carolina candidates and political committees recently filed their final campaign finance reports for 2023, disclosing who gave them money and how they spent it. A slew of news articles tell you who’s ahead in the fundraising horse race, but there’s so much more to explore in these reports. They offer a unique window into our state’s political culture. Here are eight examples, aided by a review of earlier reports and a little research. Look for more examples soon. [Read more.…]
Monday numbers: a closer look at school technology and learning loss recovery
By Clayton Henkel
Hard to believe it, but this March will mark four years since the early days of the COVID-19 pandemic. As students and teachers switched to remote learning, federal pandemic relief dollars helped school districts purchase laptops, tablets, software, and other technology to minimize learning loss and allow students to study from home.
But now, in 2024, those cutting-edge tools from 2020 are beginning to show their age.
The chief information officer for the NC Department of Public Instruction (NCDPI) shared the status of the school technology with the House Select Committee on Education Reform last week. [Read more…]
Big data companies: Extracting millions from NC residents…with state government’s help (commentary)
By Rob Schofield
North Carolina will soon have legal sports gambling. The state Lottery Commission voted last month to allow bookmakers to start taking bets – both on the ground and online – starting March 11. It won’t be in time for this week’s Super Bowl, but it will be easy to lose big bucks on the ACC men’s basketball tournament that commences March 12.
And while many have greeted this development as ho-hum news in a society in which gambling has become ubiquitous in recent years – for instance, the lottery is already plugging something called “digital instants” and as most sports fans are aware, even ESPN now has an entire website and significant programming devoted to gambling — it’s actually an important and deeply worrisome development.[Read more…]
Finance
Aussie lawyer warns of ‘middle class’ family battles after budget introduces ‘backdoor death tax’
Australians are expected to pass on trillions of dollars in assets in the coming years as the grey tsunami of wealthy baby boomers crashes across the economy. But some of those expecting the windfall could be more likely to find themselves in a potential dispute with their loved ones as tax changes introduced to trusts commonly used in estate planning increase the likelihood of conflict.
Lawyers who deal with contested wills and estates foresee issues of conflict more likely to arise if the proposed changes go ahead. Alun Hill is the national director of the contested estates division of Armstrong Legal and believes there will be more reasons for discontent and for wills to be challenged due to the increased tax take being slipped in.
“It widens the battleground,” he told Yahoo Finance. “It just creates more reason why there might be someone who wants to contest a will.”
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Under the changes in Labor’s controversial budget, the unprecedented 30 per cent minimum level of capital gains tax will apply to the most common form of estate planning trust, known as a the testamentary discretionary trust.
While the government says its legislation pertaining to tax changes for trusts will be brought before parliament later this year, the slated changes would come into effect from July 1, 2028, and only specifically exclude fixed testamentary trusts. Fixed trusts are different from discretionary trusts as trustees don’t have the discretion to change the proportion of income a beneficiary is entitled to.
“Discretionary trusts aren’t just used as a tax minimisation vehicle,” Hill said. “Traditionally they’ve been used to provide the trustee with the ability to do what’s necessary to carry out the intentions of the testator (the person who wrote the will).”
While the finer details remain to be seen, the new tax floor regardless of the income of beneficiaries and the overall higher CGT on assets, will mean beneficiaries will see less passed on than previously expected – and that can be grounds for a challenge.
“What this really does is create the potential for claims being made against the estate by the spouse or by whoever the intended beneficiary is, who is no longer receiving adequate provision or appropriate provision under the testamentary trust,” Hill said.
A charity has announced its new chair following the retirement of its founder.
Peter Neville worked for more than five years to set up Guernsey Community Savings, which first opened its doors in September 2020 to support people who were not able to access mainstream banking, staff said.
Former banker James Ellis is taking over the role. Neville said: “James brings exactly the right blend of financial services experience, charitable involvement and community understanding.”
The charity had helped about 200 people, who would otherwise have been excluded from the financial system access, to accounts and linked debit cards, and offered money‑management guidance to many more, staff said.
Neville said: “The initiatives now being discussed, together with the additional features offered by the new money‑transmission platform, reassure me that James’s vision aligns perfectly with the aims we set in those early days.
“I wish the board and GCS staff every success as they take the charity forward.”
Ellis said: “‘The creation of Guernsey Community Savings in 2020 was only possible because of Peter’s unique set of qualities that enabled him to create a talented team and the structure to tackle the issues facing the financially excluded in our island.
“I was delighted when he asked me to continue with his work and further expand his vision, which I share, to provide help in the form of bank accounts, debit cards and financial education and to realise our ambition to provide grants and soft loans where needed.”
He added he was pleased Neville agreed to remain involved with the charity as life president.
Follow BBC Guernsey on X and Facebook and Instagram. Send your story ideas to channel.islands@bbc.co.uk.
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Hong Kong’s first five-year plan will map out concrete paths to address the city’s shortcomings and magnify socio-economic benefits, including how artificial intelligence can create quality jobs, the financial chief has said a day ahead of the public consultation on the blueprint.
Financial Secretary Paul Chan Mo-po said on Sunday that the key task for the blueprint would be the upgrading and transformation of the city’s economy, vowing to press ahead with the Northern Metropolis megaproject and make it a “spatial carrier for deploying emerging and future industries”.
“Hong Kong’s five-year plan aims not only to provide greater momentum for economic development and better application of technology, but also to promote more inclusive and equitable development in society, provide residents with more quality employment opportunities, and create a better life,” he said in his weekly blog.
The efforts to formulate Hong Kong’s first five-year plan are led by Chief Executive John Lee Ka-chiu, and the blueprint is expected to be finalised by the end of 2026.
Lee said last week that the public consultation for the outline would begin on Monday, confirming an earlier South China Morning Post report.
The public can submit views via dedicated websites during the two-month period, and the government would hold multiple sessions to gather input from various sectors, including lawmakers and industry representatives.
The blueprint aims at aligning Hong Kong’s development with China’s 15th five-year plan, which positions the city as an international hub for finance, shipping, trading, innovation and technology, offshore yuan and global talent.
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