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Jerry R. Sullivan: The banking system in Montana is robust, safe and fundamental

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Jerry R. Sullivan: The banking system in Montana is robust, safe and fundamental


The worth of credit score unions can’t be denied. Initially fashioned to offer a spot the place staff might save and acquire small loans for private use. Over time their footprint has expanded and now reaches into housing and enterprise loans. This enlargement is completely supported and underwritten by taxpayer {dollars} since credit score unions don’t pay revenue tax. They’re free to make use of their earnings for enlargement at tax payers expense.

Banks meet the wants of all residents with no requirement that they be a member of a sure or outlined group. Age, intercourse, ethnicity, faith or race limitations are expressly prohibited by financial institution rules. Violation of those rules can lead to extreme monetary and reputational penalties.

Banks take calculated dangers. The shareholders capital is a part of all investments made. Credit score unions haven’t any shareholders and subsequently, they danger no possession, no pores and skin within the sport.

Individuals are additionally studying…

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Financial institution investments have constructed the native YMCA, the Bert Mooney Airport, the Maroon Exercise Heart, the Butte Amature Hockey Rink…to call just a few. Financial institution funding in modern software program firms have stored companies right here in Butte that might simply and extra effectively transfer elsewhere.

In all these efforts, solely banks accepted the dangers, on the similar time paid revenue tax on any earnings realized. Any losses, in fact, are charged in opposition to the possession of the financial institution.

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The failure of Silicon Valley Financial institution is a case examine in administration, funding and regulation points. The excellent news is, that financial institution supplies the capital to companies which are on the slicing fringe of innovation. Nationwide protection, well being care…together with many different providers that maintain our nation safe and out of attain of those that want us hurt.

Little doubt these loans may be dangerous however with out banks who’s succesful and ready to fill this important position?

It’s stated that when the Fed raises charges, issues break. The banking system in Montana is powerful, secure and elementary. The vibrancy of Butte and small cities throughout the state is supported by impartial neighborhood banks.

Jerry R. Sullivan, chairman, Granite Mountain Financial institution.

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Montana

A cool, wet weather system parks over the Montana Creek Fire.

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A cool, wet weather system parks over the Montana Creek Fire.


Home AK Fire Info A cool, wet weather system parks over the Montana Creek Fire.

The fire remains at 67% containment

TALKEETNA, Alaska- The Montana Creek Fire is located 16 miles south of Talkeetna and remains 67% contained. Wetting rains are expected to continue throughout the day today with the heaviest rainfall in the morning. Crews will continue to patrol, looking to mitigate hazards while being ever mindful that the precipitation can cause slippery, unstable conditions. The objective is 100% mop up. Remaining crews will maintain operational readiness to provide Initial Attack and support for new incidents.

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The fire is located in a critical Protection Area in the wildland urban interface, prompting multi-agency resource response. One hundred six personnel are assigned to the incident including resources from BIA, BLM, State and USFS.

As of 8:00 AM on Friday July 05, the Mat-Su Valley joined the rest of Alaska by lifting its burn suspension. This decision came as a result of cooler and wetter weather. 

The Parks Highway remains open. The public traveling on the Parks Highway will continue to be impacted by a contingency of ground resources assisting in fire suppression efforts between mile markers 94-100. The public is encouraged to stay attentive and slow down near the fire area as crews continue suppression efforts throughout the day.

‹ The Riley Fire gains containment
Wet weather continues today as Idaho Team 1 IMT 3 prepares to take command of McDonald Fire ›

Categories: AK Fire Info, Alaska DNR – Division of Forestry (DOF), BLM Alaska Fire Service



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'Quick construction' on tap for broken St. Mary canal siphons • Daily Montanan

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'Quick construction' on tap for broken St. Mary canal siphons • Daily Montanan


Repairs to the broken St. Mary Canal pipes that are part of the Milk River Project can begin immediately through an emergency authorization with the Bureau of Reclamation, U.S. Sen. Jon Tester’s office announced Friday.

The St. Mary Canal near Babb diverts water from the St. Mary River to the Milk River. The river provides 18,000 people with municipal drinking water and feeds one million people annually, according to the Milk River Joint Board of Control.

It also supports industrial uses, according to the Bureau of Reclamation.

Without the canal, the Milk River would run dry six out of 10 years, according to the Joint Board of Control, made up of eight irrigation districts.

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The river runs into Canada and then back into Montana near Havre.

On June 17, a couple of the canal’s aging siphons failed, and Montana’s political leaders, including its Congressional delegation, have been advocating for urgent action from the Biden Administration.

In a news release, Tester said the Bureau of Reclamation agreed Friday to fund the repairs through its emergency authority.

“This is an important step forward for north-central Montana water users who rely on the Milk River Project to support their farm operations that feed the world and to keep their small businesses running,” said Tester, a Montana Democrat, in a statement.

In a newsletter Friday, Republican Rep. Ryan Zinke’s office shared a letter sent to the U.S. Department of Interior and Bureau of Reclamation from him and the rest of the delegation, Tester, Republican U.S. Sen. Steve Daines, and Republican Rep. Matt Rosendale.

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“We urge you to take immediate action to authorize federal funds to replace the siphons under the authority granted in Public Law 111-11,” the letter said. “A swift federal response is critical to restore the lands damaged by the catastrophic failure and to return water to the Milk River.”

A contact in the Bureau of Reclamation office in Montana could not be reached Friday by voicemail.

In a phone call, Jennifer Patrick, project manager for the Milk River Joint Board of Control, said the funding package has moved quickly, which will make a difference in work on the ground.

“That will allow us to move forward into construction a lot quicker,” Patrick said.

The cost of fixing the breached St. Mary siphon and another piece of infrastructure in need of replacement, the 100-year-old Halls Coulee siphon, is $70 million together, Patrick said.

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So far, Montana irrigators aren’t impacted this year partly because of the rain and full reservoirs, although Patrick also said it’s a “compressed irrigation season.”

If the winter is strong, that will help storage for Montana, she said, but it won’t make construction easy. Montana holds water in the Fresno and Nelson reservoirs on the Hi-Line.

“We’re really, really trying to have water running back into the Milk River by the fall of 2025,” Patrick said.

Patrick, however, also said Alberta, Canada, likely will be affected because it doesn’t have water storage like Montana does.

She said Milk River irrigators are working closely with landowners, the Blackfeet Nation, and state and federal government, and the cooperation and partnerships are “incredible.”

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“We’re moving quickly. You might not hear from us that often, but our goal is to have water back in the Milk River in 2025,” Patrick said.

The entire congressional delegation has been “turning over rocks” for funding, emergency authorizations, and whatever “works best for the state of Montana,” she said. And she said local representatives and state legislators have been on the job as well.

Kwebb Galbreath, water director for the Blackfeet Nation, also said politicians and decision-makers have been moving quickly, which is key to fixing the problem.

“The problem is that this has been something that’s been left unattended for 100 years,” Galbreath said. “It should have been replaced probably 75 years ago.”

He described the current situation as “chaos, but I think right now it’s controlled chaos.” And he said a plan is in place that he believes will lead to repairs made to both siphons by 2025.

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“I do believe that they’ll both be fixed, and next year in August, we’ll have good water flowing,” Galbreath said.

The St. Mary Diversion Dam and Canal is “dilapidated” and has long been in need of repair, according to the Bureau of Reclamation.

The Infrastructure Investment and Jobs Act set aside $100 million for facilities that have failed in a way that prevented water delivery for irrigation, and the St. Mary canal is the only project that fit the criteria, according to a project overview on the Bureau of Reclamation website.

Bozeman company NW Construction was recently awarded a more than $88 million contract to complete the canal and dam replacement project, part of the Infrastructure Investment and Jobs Act.

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What Happened in Latest Montana Quake

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What Happened in Latest Montana Quake


One of the strongest earthquakes in Western Montana so far this year woke up people who had only been sleeping a few hours after the 4th of July fireworks.

There was no mistaking this one for the rowdy kids down the road who were still lighting it up well after midnight.

The U.S. Geological Survey says the quake, centered under the mountains just east of Seeley Lake was a sizable one, measuring a 3.9 magnitude.

READ MORE: New Maps Show Montana’s Risk For Damaging Earthquakes

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More than a rumble

While we’re somewhat used to earthquakes in Montana, anything over a 3.0 tends to get most people’s attention. And this one was well into the “very noticeable” range.

U.S.G.S. seismologists said the quake was located at a depth of 10 km, or approximately 6.2 miles under the surface, with an epicenter just over 14 miles east northeast of Seeley Lake near the western edge of the Scapegoat Wilderness.

The quake hit at 4:45 am. It was followed by three distinct aftershocks, with two measuring 2.5 and then 2.0 magnitude, with a third, and final, small jolt hitting 1.3 about 5 hours later 2 kilometers to the east.

Where people noticed

U.S.G.S. received several reports from people feeling the quake, despite the early hour. Residents in Missoula, Kalispell, and Helena all filed reports, in addition to those living in the Seeley-Swan. Additional reports came from as far away as Helena and Deer Lodge.

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Montana is known for its active seismicity. There have been a total of 22 small quakes reported in Western Montana over the past three weeks.

Don’t Be Here During a Powerful Montana Earthquake

The 9 Strongest Earthquakes To Ever Strike Idaho

Let’s take a look at some of the strongest earthquakes ever to strike Idaho.

Gallery Credit: Chris Cardenas





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