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Alaska Legislature to face familiar challenges this year

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Alaska Legislature to face familiar challenges this year


JUNEAU, Alaska (AP) — The Alaska Legislature convenes for a brand new session Tuesday with a bipartisan coalition controlling the Senate for the primary time in over a decade, a divided Home struggling to prepare for the third straight time period and a newly reelected Republican governor who stated he’s involved in working with lawmakers and “downside fixing.”

There’s additionally a big freshmen class, and a listing of acquainted challenges: Dwindling financial savings. Oil costs effectively beneath heights reached final yr. Unresolved questions on what measurement dividend needs to be paid to residents from Alaska’s nest-egg oil-wealth fund, the Alaska Everlasting Fund.

For years, lawmakers have stated decision is required on the dividend to allow them to flip higher focus to different points affecting the state. Looking for settlement on the dividend is a precedence for incoming Senate president Gary Stevens, who’s a part of a 17-member caucus of 9 Democrats and eight Republicans within the 20-person Senate.

Stevens, a Kodiak Republican, stated there’s curiosity, too, in delving into the problems of schooling funding and pension and retirement issues for academics and different public workers. He stated he was hopeful his caucus would “agency up” its objectives when all of the members get to Juneau.

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The Senate has seven new members, a gaggle that features Republican Cathy Giessel, a former Senate president who misplaced a reelection bid in 2020 and returns to the chamber after a profitable marketing campaign final yr, and Republicans Kelly Merrick and James Kaufman and Democrat Matt Claman, who beforehand have been within the Home and efficiently ran for the Senate final yr.

The 40-person Home has 19 new members, two of whom — Republicans Craig Johnson and Dan Saddler — are former representatives returning to the chamber after a number of years away.

In 2019 and 2021 — the beginning of the previous two legislative cycles — it took till February for the Home to elect a speaker. Caucuses don’t at all times neatly kind alongside occasion strains in Alaska, the place personalities and coverage positions usually think about. Lawmakers hope to keep away from a drawn-out battle this yr.

The final bipartisan coalition within the Senate was in 2012. Within the years following, there have been Republican-led caucuses that included one or two Democrats.

Rep. Cathy Tilton, a Wasilla Republican, stated she sees work on a state fiscal plan as crucial, with a revised spending restrict a key piece. Whereas lawmakers have lengthy talked in regards to the want for a fiscal plan to maneuver away from yearly budgeting across the volatility of oil, they’ve struggled to coalesce round what a plan ought to embody.

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For instance, how ought to the dividend be dealt with? Ought to there be new or larger taxes, and what would these be? Alaska has no statewide gross sales or private revenue tax, and has lengthy relied on oil.

There’s a yearly utility course of for dividends, and residency necessities to satisfy. This system dates to the early Nineteen Eighties.

In 2018, amid deficits, lawmakers started utilizing everlasting fund earnings historically used to pay dividends to additionally assist pay for presidency, they usually sought to restrict how a lot is drawn annually from earnings. A longstanding system used to calculate dividends was final utilized in 2015. That outdated system has been seen by many lawmakers as unsustainable, however efforts to provide you with a brand new one have faltered. Lawmakers have typically simply been setting a yearly quantity.

Dunleavy in his price range proposal known as for a dividend according to the outdated system, which his workplace stated can be round $3,860 an individual this yr. He stated he may also press lawmakers to think about his proposal to pursue carbon markets as a strategy to generate income for the state.

Lawmakers final yr authorised paying residents $3,284, which included a dividend and a $662 one-time vitality reduction fee. The checks have been authorised when oil costs have been round $115 a barrel. Just lately, they’ve been round $80 a barrel.

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A spike in oil costs final winter and spring, amid Russia’s warfare with Ukraine, have been accompanied by rosy state income projections which have since been revised down.

Dunleavy, who had an at-times rocky relationship with lawmakers throughout his first time period, stated when he was sworn in final month that his aim is to “work with all people to create an Alaska for the subsequent 50 years.”

Stevens stated he believes the administration is “keen to take heed to us and work with us.” However he stated he thinks the dividend that Dunleavy has proposed is “not doable.” Stevens stated to keep up state providers, “we merely can not have a dividend that prime.”

NEA-Alaska, a serious academics’ union, sees schooling funding as a number one matter this session. Its president, Tom Klaameyer, stated the union needs to see a “significant” enhance within the state’s pupil funding system.

Dunleavy, a former educator, in an interview stated he’s keen to debate college funding however stated there additionally needs to be discussions round efficiency and outcomes.

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“I believe we’ve to have a dialogue about the place we wish our instructional system to be,” Dunleavy stated.

Klaameyer stated there’s an “educator scarcity disaster” and that faculty districts are reducing packages and struggling to fill jobs or retain educators.

He additionally stated he believes that “when you present these assets for college students, you present the most effective educators in each occupation within the faculties, that you just help children, then the outcomes will come. They’ll be there.”



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Alaska

Denali National Park plans to re-open on Wednesday

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Denali National Park plans to re-open on Wednesday


Denali National Park plans to fully re-open to visitors on Wednesday, and that includes bus tours into the park.

Employees who live in the entrance area were invited to return to their homes Saturday night, as the evacuation status for the area was lowered to Green/Ready status.



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State of Alaska Department of Revenue Sells 1,005 Shares of Jacobs Solutions Inc. (NYSE:J)

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State of Alaska Department of Revenue Sells 1,005 Shares of Jacobs Solutions Inc. (NYSE:J)



State of Alaska Department of Revenue reduced its position in Jacobs Solutions Inc. (NYSE:J – Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,272 shares of the company’s stock after selling 1,005 shares during the quarter. State of Alaska Department of Revenue’s holdings in Jacobs Solutions were worth $2,500,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Boston Partners lifted its stake in Jacobs Solutions by 268.4% in the fourth quarter. Boston Partners now owns 2,891,429 shares of the company’s stock valued at $375,623,000 after buying an additional 2,106,589 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Jacobs Solutions by 134.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,658,049 shares of the company’s stock valued at $215,215,000 after acquiring an additional 951,369 shares during the period. Ceredex Value Advisors LLC boosted its stake in Jacobs Solutions by 117.2% during the fourth quarter. Ceredex Value Advisors LLC now owns 615,289 shares of the company’s stock worth $79,865,000 after acquiring an additional 332,053 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Jacobs Solutions by 14,897.6% in the fourth quarter. Panagora Asset Management Inc. now owns 321,548 shares of the company’s stock worth $41,737,000 after purchasing an additional 319,404 shares during the period. Finally, Baupost Group LLC MA increased its stake in Jacobs Solutions by 49.2% in the fourth quarter. Baupost Group LLC MA now owns 727,786 shares of the company’s stock valued at $94,467,000 after purchasing an additional 240,000 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Trading Down 1.3 %

NYSE:J opened at $136.74 on Friday. Jacobs Solutions Inc. has a 52 week low of $119.76 and a 52 week high of $154.50. The firm has a 50-day moving average price of $139.74 and a two-hundred day moving average price of $140.87. The firm has a market cap of $17.12 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17.

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Jacobs Solutions (NYSE:J – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.07. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. Jacobs Solutions’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share. On average, equities analysts expect that Jacobs Solutions Inc. will post 7.98 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 24th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.85%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Robert W. Baird reduced their target price on Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. William Blair downgraded Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Bank of America increased their target price on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Citigroup boosted their price target on shares of Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Argus raised their price objective on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.82.

View Our Latest Report on Jacobs Solutions

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Insiders Place Their Bets

In related news, CFO Kevin C. Berryman sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total value of $217,965.00. Following the transaction, the chief financial officer now owns 231,604 shares in the company, valued at $33,654,377.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kevin C. Berryman sold 1,500 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total transaction of $217,965.00. Following the completion of the transaction, the chief financial officer now owns 231,604 shares in the company, valued at approximately $33,654,377.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $139.43, for a total value of $976,010.00. Following the transaction, the insider now owns 541,138 shares of the company’s stock, valued at approximately $75,450,871.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,500 shares of company stock valued at $3,180,575. Company insiders own 1.00% of the company’s stock.

Jacobs Solutions Company Profile

(Free Report)

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.

Further Reading

Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)



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Alaska

Alaska at its best — part one – East Idaho News

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Alaska at its best — part one – East Idaho News


JUNEAU – A week ago Tuesday, my wife, four daughters and nine other family members (including myself) embarked on a trip of a lifetime – a cruise from Seattle to southern Alaska and back. The Carnival Spirit ship was enjoyable, but the excursions made the trip unbelievable and unreal for me, creating sights and sounds of a lifetime.

We had only scheduled two excursions but on our third day at sea, my wife approached me and said, “An excursion this afternoon has three openings, and many of the comments from previous guests says that their only regret was not doing the Tracy Arm Fjord one: how about doing it? Jesse (our son-in-law) has already booked it, so let’s go.”

A little tired of the big boat, I agreed.

After separating from the mothership, we headed up the fjord, flushing several strange birds off the water. Their mostly black with white wing patches and bright orange feet told me that they were pigeon guillemots.

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Soon the captain announced a bear ahead. It moved off into the brush before we got there. Water from melting snowfields was cascading off the steep sides, but the falling water was did not create “waterfalls” until we arrived at a huge, true waterfall — the only one in the fjord.

Ice Falls, originating from Ice Lake, was beautiful, but I was ready to see some living creature when the woman behind me yelled, “Bear!” The caption slowed up, turned the boat around and we slowly headed back. Sure enough, there was a small black bear digging up mussels where the low tide had exposed a large table of things bears like to eat.

A Black bear munches on mussels and other food exposed by the low tide in Tracy Arm Fjord. | Courtesy Bill Schiess

After allowing everyone a chance to photograph the bear we continued up the fjord with large hunks of ice floating by us. Some of the icebergs were a bright blue while others were painted by “rock dust” that the South Sawyer Glacier had ground off the steep sides hundreds of years ago. The naturalist with us explained to us that the blue ice was created by over 100 inches of snow compressed together to create an inch of glacial ice.

Icebergs in the Tracy Arm Fjord gets its blue color from compressed snow which fell over 150 years ago. | Courtesy Bill Schiess
Icebergs in the Tracy Arm Fjord gets its blue color from compressed snow which fell over 150 years ago. | Courtesy Bill Schiess

It was not too long before we could see the top of the glacier, and we began to move slowly enough to push some of the smaller chunks of ice out of the way or to maneuver around the larger icebergs. The naturalist explained that 90 percent of the icebergs were under the water and explained that the color of the water that changed so quickly was created by the melting ice containing the rock dust.

Hundreds of harbor seals were relaxing on some of the floating ice while a bald eagle perched on the top of a large iceberg. Arctic terns flew back and forth over their nesting area on a large rock near a beautiful granite cliff.

Harbor seals enjoy sunning themselves on the ice broken off from the South Sawyer Glacier. | Courtesy Bill Schiess
Harbor seals enjoy sunning themselves on the ice broken off from the South Sawyer Glacier. | Courtesy Bill Schiess

We also watched as large chunks of 150-year-old blue ice split from the glacier, sending significant waves down to us. There were two other boats there with us playing a tag game with the ice, and after about an hour, we started working away from the glacier.

Large chunks of ice break off the South Sawyer Glacier as several boats watch it. | Courtesy Bill Schiess
Large chunks of ice break off the South Sawyer Glacier as several boats watch it. | Courtesy Bill Schiess

As we rounded a corner, we saw the Carnival Spirit working its way up through the ice. I had been visiting with the excursion captain, and when he saw the ship he exclaimed, “What the heck is he doing!!!! Ships never come up this close to the glacier!”

We moved passed the Carnival Spirit as all the passengers got a view of the glacier while the ship moved very, very slowly navigating through the floating ice. But we could not hook up with the Spirit until we got enough room so that chunks of ice would not get caught between the two boats.

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 The Carnival Spirit approaches the South Sawyer Glacier close enough for all its passengers to view it. | Courtesy Bill Schiess
The Carnival Spirit approaches the South Sawyer Glacier close enough for all its passengers to view it. | Courtesy Bill Schiess

We found out later that the captain of the Spirit was a new captain, this was his first trip up into the Tracy Arm Fjord and he wanted to see the glacier. We also noticed while out in the open sea, when a pod of whales was located, the captain “kind of” turned in that direction to give the passengers a better view of them.

My wife and I were both happy that the rest of our family was able to enjoy the trip up to see the magnificent South Sawyer Glacier. She and I enjoyed the time that we spent up there watching the wildlife and the movement of the glacier. It was well worth the extra time and funds that we paid.

My recommendation to any of you who have not been on an Alaskan cruise or not taken advantage of excursions on a cruise is to do them. As beautiful and enjoyable as the trip up the Tracy Arm Fjord was, it was not my favorite – that story is for next week.

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