Maine
Mainers shouldn’t worry about their money after 2 bank collapses
A number of giant Maine banks and monetary providers firms are sending emails to clients reassuring them that their cash is secure after the failures of two U.S. banks this week.
Camden Nationwide Financial institution and Kennebec Financial savings Financial institution, every of which has been in enterprise for near 150 years, knowledgeable clients that their cash is secure and safe with federal insurance coverage in place.
“We now have persevered by means of World Wars, the Nice Melancholy, the dotcom bubble, the Nice Recession, the monetary disaster of 2008 and COVID-19, all as a secure haven for folks’s cash,” Kennebec Financial savings President and CEO Andrew Silsby wrote.
The financial institution failures aren’t more likely to have an effect on the typical Mainer as a result of that they had uncommon elements to them, together with a buyer base made up closely of enterprise capital trade firms, mentioned Jessamyn Norton, chief funding officer at Portland-based monetary providers firm Spinnaker Belief, which despatched out its personal discover to reassure purchasers.
Federal regulators have been fast to step in after information of the failures of Silicon Valley Financial institution late final week and Signature Financial institution of New York over the weekend. The Federal Reserve Board mentioned Sunday that it will safeguard deposits, even these exceeding the $250,000 Federal Deposit Insurance coverage Corp. protected ceiling for deposits.
President Joe Biden, addressing the nation earlier than the inventory markets opened on the East Coast on Monday morning, assured Individuals that they’d not foot the invoice for the failures.
Issues nonetheless persist amongst clients and the banking trade about whether or not extra banks will fail and whether or not financial savings and investments are secure. The Justice Division has opened an investigation into the collapse of Silicon Valley Financial institution and the actions of its senior executives, The Washington Put up reported. A number of traders additionally filed a category motion criticism in federal courtroom towards the financial institution and its executives.
Silicon Valley Financial institution, which has three places in Massachusetts however none in Maine, had a excessive share of enterprise capital trade depositors who have been withdrawing funds the previous couple years as enterprise investments cooled off, Norton mentioned. Signature Financial institution, one of many few to serve the cryptocurrency trade, failed as a result of clients misplaced confidence within the financial institution’s operations.
Though former U.S. Rep. Barney Frank, D-Massachusetts, has served on the board of Signature, the failure of Silicon Valley Financial institution made greater waves available in the market due to the expertise titans that had parked cash there. Peter Thiel, the primary exterior investor in Fb and a companion in San Francisco-based Founders Fund, had his fund and funding firms pull tens of millions of {dollars} out of the financial institution earlier than it descended into chaos final Thursday, Bloomberg Information reported.
That adopted a warning by influential blogger Byrne Hobart, who in a Twitter post in late February warned of the financial institution’s monetary issues. As a result of most of the financial institution’s issues stemmed from diminished deposits associated to enterprise capital shortfalls and poor investments, most companies with cash at small group banks shouldn’t be frightened, mentioned administration guide Jason Hendren of Florida.
“As a hedge, [business] homeowners with extra money ought to diversify their banking relationships and have a second account at a big establishment with sufficient money to cowl a minimum of one payroll and accounts payable cycle,” he mentioned.
Maine banks sometimes aren’t uncovered to the dangers of the failed banks, together with an excessive amount of reliance on enterprise capital or cryptocurrency purchasers, Norton mentioned.
“Maine banks are conservative and don’t have that kind of financial institution deposit focus,” she mentioned. “They serve common Maine firms and households, so clients must be advantageous.”
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Maine
Have you ever heard a bobcat cry?
Bobcats are common in all parts of Maine except for the most northwestern corner where there normally is deep snow and colder temperatures, according to the Maine Department of Inland Fisheries and Wildlife.
They are versatile, which means they live in multiple types of habitats including woods, farms and close to urban and suburban areas, resulting in an increase of complaints about them. They eat rodents, making the cats important to Maine’s wildlife ecosystem, according to MDIFW.
Other foods are snowshoe hare, grouse, woodchucks, beavers, deer and turkeys. Predators looking for them include people and fishers. Predators such as eagles, great horned owls, coyotes, foxes and bears can cause injuries that may become fatal, according to the state.
They resemble the endangered lynx, but are smaller, have a longer tail and shorter ear tufts. Their feet are half the size of a lynx, making it harder for them to navigate deep snow.
Bobcats have several types of vocalizations, including a mating scream that sounds like a woman screaming, a cry that sounds like a baby crying, They also hiss, snarl, growl, yowl and meow like domestic cats.
You can hear one of those vocalizations in this incredible video shared by BDN contributor Colin Chase.
Bobcats usually mate from late February to late March and produce from one to five kittens in May. The babies stay with the mother for about 8 months but can stay up to a year old. The state has documented some interbreeding between bobcats and lynx and bobcat and domestic cats, according to MDIFW.
They like to hunt at dusk and dawn and seeing one in person is rare.
Maine
Man dies in propane tank explosion in northern Maine
A man died in an explosion at his home in Molunkus, Maine, Friday afternoon, fire officials said.
Kerry Holmes, 66, is believed to have died in a propane torch incident about 3 p.m. on Aroostock Road, the Maine Fire Marshal’s Office said.
The explosion took place after a propane torch Holmes was using to thaw a commercial truck’s frozen water tank went out, leading to the build-up of propane gas around the tank, officials said. It’s believed a second torch ignited the explosion.
First responders pronounced Holmes dead at the scene, officials said. The investigation was ongoing as of Friday night.
Molunkus is a small town about an hour north of Bangor.
Maine
Opinion: A clear solution to Maine’s youth hockey challenges
A recent article about the decline of youth hockey participation in Maine raised important concerns, but also overlooked key dynamics and solutions that could help the sport thrive (“Maine youth ice hockey is losing players. No one is sure how to stop it,” Jan. 10).
As the president of Midcoast Youth Hockey – Junior Polar Bears, I see a very different picture in our region. Our program experienced 146% growth last season and is approaching another 25% growth this season. These numbers paint a clear picture. The issue is not a lack of interest in hockey — it’s a lack of available ice time and modern facilities to meet growing demand.
Youth hockey programs across Maine are thriving when they have the resources and ice time to do so. The challenge isn’t that kids aren’t interested in hockey or that families can’t afford the sport — it’s that many families are forced to make difficult decisions because ice time is scarce and facilities are outdated.
In our region, competition for ice time is fierce. Every single arena is operating at or near capacity, juggling youth hockey, high school teams, clinics, camps and college programs. When rinks close or fail to modernize, the ripple effect forces players and families to drive 30 to 60 minutes — often in the early morning or late at night — to find practice and game slots. This is not sustainable. As I always say, “The only thing that could negatively impact demand for ice time is a lack of ice time.”
The article’s focus on high school hockey teams consolidating misses a larger reality. Many players are shifting to club hockey because it offers more ice time, better coaching and higher levels of competition. This is not about cost. Families are investing more in hockey because it brings their kids joy and growth opportunities. What’s needed is a solution to make hockey accessible and sustainable for all levels of play — not just those who can afford to travel to other regions.
The closing of several rinks over the past decade, while concerning, doesn’t signal a lack of interest in hockey. It highlights the need for better-designed facilities that can meet demand and operate sustainably. Single-sheet rinks are no longer viable — they lack the capacity to host tournaments or generate the revenue needed for long-term operations.
A dual-surface facility, strategically located in Brunswick, would be a game-changer for the Midcoast region. It would not only meet the growing demand for ice time but also provide an economic boost to the community. Dual-surface facilities have the capacity to host regional tournaments, clinics and recreational leagues, generating $1.4 million to $2.2 million annually in economic activity. This model has been proven successful in other parts of the country, where public-private partnerships have enabled towns to build and operate financially viable arenas.
A new dual-surface facility in Brunswick wouldn’t just serve youth hockey. It would also support middle and high school teams, adult recreation leagues, figure skating and adaptive skating programs. Programs like adaptive skating, especially for veterans with disabilities, honor Brunswick’s military heritage while making skating more inclusive.
This type of investment solves two problems at once. It ensures local players have access to sufficient ice time, reducing the need for long drives, and it helps prevent the consolidation of high school teams by supporting feeder programs. The numbers don’t lie — when kids have the chance to play, participation grows.
We need to stop thinking about hockey as a sport in decline and start addressing the real barriers to growth: limited ice time and outdated facilities. Rather than pulling back on investment in rinks, we need to move forward with smarter, community-driven solutions. A dual-surface arena in Brunswick is one such solution, and it’s time for government and business leaders to work together to make it happen.
The article noted a lack of a “plan to build hockey back up.” Here’s the plan: Build the infrastructure, and the players will come. Hockey isn’t fading — it’s waiting for the ice.
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