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Yahoo
10-06-2025
- Business
- Yahoo
McCabe presents $163.8 million budget to City Council for review
WESTFIELD — Mayor Michael McCabe presented the fiscal year 2026 budget of $163.8 million for review to the City Council at its meeting on June 5. 'This budget has been a difficult budget to prepare,' McCabe said, and specifically thanked City Council President John Beltrandi and Finance Committee Chair Ralph Figy for helping sit in on some of the budget hearings. 'I came before you in March or April and we spoke briefly about issues this budget was going to face and a number of unexpected increases that were beyond the control of the city's management staff or financial team to be able to foresee,' he said, listing special education increases of $1.1 million, transportation increases of $1.3 million, mandatory staff increases of just under a million, contractual obligations of $1.8 million, a health care increase of $5.8 million, utilities cost increase of 15 percent across the board and trash and recycling fees that had a $2.3 million deficit. He said there were also $5 million in inflationary cost increases. McCabe said in FY25 there was also a tax decrease to residents. 'When we used free cash last year to give a tax decrease to folks and offset the budget deficit … that came out to negative one percent,' he said, adding that all in all costs were $17 million over the previous year's budget. He said last year the city used $5 million in free cash to balance the FY25 budget, and the funding is not available to do that again in FY26. Later he said $2 million in free cash was used to balance the FY26 budget. 'Our budget looks like it's going to come in on a free cash balance of 3%. The DOR recommends 5%. I'm not too worried about it, I think when the new free cash number comes in November, I think there will be more than 5 percent overall,' he said. McCabe said there are no new personnel across the board, no vehicles across the board, and an appropriate level of services will be kept status quo. 'There is no real decrease in services in FY26 over FY25, even though we've had this $17 million gap to close.' McCabe said the city closed a couple of schools, specifically Fort Meadow, Abner Gibbs and Franklin Avenue, and added a state-of-the-art Westfield River Elementary School. He said the consolidation in elementary schools helped to reduce costs in personnel and services. Without getting into details about the levy limit and levy ceiling and their interrelatedness to city financing, which he said currently stands at $12.5 million in excess capacity, he said, 'I remember sitting through council meetings in the cheap seats over the last 15 years, and I remember hearing that it was a really good thing if we had excess capacity built into our levy. As as it turns out, the state doesn't want to see excess capacity in our levy, because when you go to them for help, they say 'spend your own money.' ' McCabe said the city expected help from increases in Chapter 70, Chapter 74 and Chapter 90, the state's funding sources, but 'there really was not a lot of help at all.' He said unrestricted government aid went up $120,000, 'which isn't really an awful lot of anything.' In his letter to the council, McCabe said the plan is to spend $3.5 million of the excess capacity in FY26. 'By doing so, better positions to receive state funding, especially Chapter 70 and Chapter 74. This also means we will return to using only minimal free cash this year, and hopefully no free cash in FY27.' McCabe suggested in reviewing the budget, that councilors go to the Mayor's recap in the beginning of the budget for a thumbnail read. He also suggested looking at pages 194-214, the appendices in the back of the budget, 'they will walk you through all the items I just talked about.' 'If you're looking at it, you'll see how we tried to balance the budget. There are only three ways to balance the budget; through new growth, you can pick up through some local receipts — this year we're going to get an advantage of a local recept that is significantly higher than it's been before, and you can do it through taxation and excess capacity monetary use,' McCabe said, referring to the additional $2 million that will be generated by the increase in the trash collection fee. He said without new growth, the only thing left to do is tax at 2.5 percent and then tax the excess capacity at 2.5 percent, which added to the $2 million in free cash and $2 million increase in local revenues was how the budget was balanced. He said the mayor's cut sheet shows the cuts made to city departments of $3.2 million, It also shows a positive offset of $3.5 million in the insurance category. He said the School Department budget was cut by $5.2 million, but saw a four percent increase over FY25. 'It's important to realize that a four percent increase, while greater than the city budget, is a necessary increase. Unfunded mandates are crushing the School Department budget and crushing the taxpayer,' McCabe said. 'I've tried to address it with the governor. The problem lies within the legislature - the body that creates the rule and then they don't fulfill the rule that they create. They're the only ones that can fix that rule. If you have any influence with your state legislators, I would urge you to ask them to fund where they say they're supposed to fund,' he added. McCabe gave two examples of funding disparities from the state. He said the Massachusetts School Building Authority is supposed to be funded at 80 percent. The Westfield River Elementary School cost $16 million, and the city was reimbursed $32 million, roughly 50 percent. He said to be fair, the MSBA created their own exemptions. 'If they exempt pieces of the puzzle, they can still say that they're funding 80 percent of the non-exempted pieces of the puzzle,' he said. The other exemption was the funding of Circuit Breaker for special education expenses. McCabe said they are supposed to be funding at 75 percent, but are instead funding at 44 percent. 'That little difference is worth about $1.5 million,' he said. Before running off to the Westfield Technical Academy graduation, McCabe thanked Auditor Vicki Moro, who created the 214 page document, Assessor Ashlie Brown, Personnel Director Anne Larkham, Treasurer/Collector Matt Barnes, School Business Manager Shannon Barry, Solicitor Shanna Reed, City Councilors Ralph Figy and President John Beltrandi and Superintendent Stefan Czaporowski for all the help they have been in working collaboratively on the budget. 'I greatly appreciate their assistance,' he said. The budget was sent by the Council to the Finance Committee for review. Finance Committee reviews were scheduled for June 9, 10, 11, 16 and 17 beginning at 5:30 p.m. in various rooms in City Hall. A financial overview and public hearing for the budget is scheduled for June 23 at 6 p.m. in Room 207, City Council Chambers. On June 24, also in Room 207, city councilors will review the entire budget and make recommendations. On June 30, councilors will vote on the budget. The schedule of meetings is posted on the city website at The budget is also posted on the website under departments, auditor, Fiscal Year 2026. Read the original article on MassLive.
Newsweek
05-06-2025
- Sport
- Newsweek
Paul Skenes to Red Sox? Insane Trade Thought Pushed by MLB Network Host
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Last year's National League Rookie of the Year Paul Skenes, the 2023 No. 1 overall draft pick, continues to pitch at a Cy Young Award-worthy level, but his talents are seemingly being wasted on the Pittsburgh Pirates. After finishing 10 games under .500 last season, 17 games out in last place in the NL Central, the Pirates are even worse this year — already 15 1/2 games behind the division-leading Chicago Cubs and 13 games under .500 with 100 games remaining. PITTSBURGH, PENNSYLVANIA - JUNE 4: Paul Skenes #30 of the Pittsburgh Pirates looks on during batting practice before the game against the Houston Astros at PNC Park on June 4, 2025 in Pittsburgh, Pennsylvania. PITTSBURGH, PENNSYLVANIA - JUNE 4: Paul Skenes #30 of the Pittsburgh Pirates looks on during batting practice before the game against the Houston Astros at PNC Park on June 4, 2025 in Pittsburgh, the same time, Skenes leads the National League in pitcher WAR at 3.2, WHIP at 0.88, and fewest hits allowed per nine innings with 5.8. His 2.05 ERA is second in the league. Skenes has also been a workhorse, with NL-best figures in games started (13), innings pitched (83 1/3), and complete games, though his league-leading total in the latter category is one. Yet with the Pirates, Skenes this year has a losing record of 4-6. The Pirates have lost eight of his 13 starts. In fact, in nine of his starts, Skenes has pitched at least six innings while allowing two or fewer earned runs. The Pirates record in those games is 4-5. With all of that in mind, MLB Network studio host Greg Amsinger threw out a wild idea. "So every fifth day we're going watch Paul Skenes shove and the Pirates lose 1-0 or 2-0. We're going to do that every fifth day?" Amsinger asked his co-hosts, former players Dan PLesac and Harold Reynolds, on a Wednesday broadcast. Then he pitched his trade idea. "If Paul Skenes were traded to the Boston Red Sox for Marcelo Mayer, Roman Anthony, and Kristian Campbell, would you do it if you were the Pirates?" More MLB: Pirates Owner Wasting Paul Skenes Era, 'Should be Embarrassed,' MLB Analyst Says Mayer, Anthony and Campbell are known as the "Big Three" among Red Sox fans, as the organization's three top prospects. Mayer and Campbell have already made it to the Boston big league roster. Anthony is the No. 1 prospect in baseball, though for some reason the Red Sox have kept him at Triple-A Worcester all season so far. Together, that big three, along with several other highly-rated Red Sox prospects, represent the future of the Boston organization. Plesac, who pitched 18 seasons in MLB for six different teams, wasn't having it. "I'm not into trading him," Plesac said, referring to Skenes. "He's the identity of the Pirates. He's the one attraction that you have to get you to go out and watch a Pirate game." The MLB Network hosts did not address, however, the Red Sox's perspective on the proposed trade. Would the Red Sox sell their future for Skenes, even with four years of team control for the 22-year-old prodigy? It should be noted the Red Sox already have a starting pitcher who this season has been arguably as good as Skenes, or at least very close to his level. Has left-hander Garret Crochet fared better with Boston than Skenes with Pittsburgh? Crochet has a better ERA than Skenes at 1.98, and he leads the American League in strikeouts with 101 (Skenes has fanned 85). Crochet has also started 13 games, and thrown a league-leading 82 innings. His won-loss record with the Red Sox is 5-4. In his seven starts of at least six innings, allowing two runs or fewer, the Red Sox are 5-2. More MLB: Red Sox Frustrate Fans With Call-Up of Triple-A Outfielder Not Named Roman Anthony
Calgary Herald
03-06-2025
- Business
- Calgary Herald
Airline traffic in Canada is up — just not to the United States
Article content Traffic was up for both domestic and international flights at Canada's largest airports in April, with the exception of trips to the United States, according to Statistics Canada's monthly data on air passenger travel. Article content Trans-border traffic to the U.S. dropped for the third month in a row to 1.1 millon, 5.8 per cent lower than in April 2024. Statistics Canada said trans-border passenger counts were also significantly lower (down 12.5 per cent) than the pre-pandemic level recorded in April 2019. Article content Article content Outside of the U.S., however, the number of Canadians travelling internationally by air was 1.4 million in April — up 7.1 per cent over the same month in 2024, and sharply higher (up 19 per cent) than the pre-pandemic level posted in April 2019. Article content Meanwhile, Canadians are also choosing to travel within the country. Domestic passenger traffic was up by 7.4 per cent to two million in April compared to the previous year. This modestly surpasses the 2019 pre-pandemic level by 1.5 per cent, said StatCan. Article content Canada's eight largest airports, which includes Montréal/Pierre Elliott Trudeau International, Toronto/Lester B. Pearson International and Vancouver International, posted higher volumes of passenger traffic year over year in April. Article content Article content Overall, 4.5 million passengers were screened at the eight airports, up 3.6 per cent over 2024 and up 1.9 per cent over 2019. Article content Article content Ottawa/Macdonald-Cartier International posted the largest year-over-year increase, at 8.6 per cent. Article content The decline in trans-border travel as Canadians forgo visits to the United States led major airline Air Canada to lower its financial forecast for the year. Article content And in late May, WestJet Airlines CEO Alexis von Hoensbroech, speaking at a Calgary Chamber of Commerce event, said summer bookings were down by the 'mid-to-high teens' (percentage wise) from the same period last year.
Yahoo
22-05-2025
- Sport
- Yahoo
Stars take 1-0 series lead into game 2 against the Oilers
Edmonton Oilers (48-29-5, in the Pacific Division) vs. Dallas Stars (50-26-6, in the Central Division) Dallas; Friday, 8 p.m. EDT BETMGM SPORTSBOOK LINE: Stars -124, Oilers +104; over/under is 6.5 STANLEY CUP SEMIFINALS: Stars lead series 1-0 Advertisement BOTTOM LINE: The Dallas Stars host the Edmonton Oilers in the third round of the NHL Playoffs with a 1-0 lead in the series. The teams meet Wednesday for the fifth time this season. The Stars won the previous matchup 6-3. Tyler Seguin scored two goals in the win. Dallas has gone 35-11-3 at home and 50-26-6 overall. The Stars have a 27-12-3 record when they commit fewer penalties than their opponent. Edmonton has a 27-19-2 record on the road and a 48-29-5 record overall. The Oilers have given up 235 goals while scoring 259 for a +24 scoring differential. TOP PERFORMERS: Jason Robertson has 35 goals and 44 assists for the Stars. Mikko Rantanen has nine goals and 10 assists over the last 10 games. Advertisement Connor McDavid has 26 goals and 74 assists for the Oilers. Evan Bouchard has scored five goals with five assists over the last 10 games. LAST 10 GAMES: Stars: 7-3-0, averaging 3.3 goals, 5.8 assists, 4.6 penalties and 12 penalty minutes while giving up 2.4 goals per game. Oilers: 8-2-0, averaging 3.9 goals, 6.6 assists, 3.3 penalties and 7.1 penalty minutes while giving up 2.7 goals per game. INJURIES: Stars: None listed. Oilers: None listed. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.
Yahoo
14-05-2025
- Business
- Yahoo
Ronald Muhlenkamp's Strategic Moves: Tegna Inc. Exits with a -3.84% Impact
Ronald Muhlenkamp (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. Ronald H. Muhlenkamp is the founder and president of Muhlenkamp & Company, Inc., and portfolio manager for the company's self-named mutual fund (MUHLX). Muhlenkamp is a patient value investor. The stocks in his portfolio stay an average of 10 years. He is a value guru who believes that over time, stock prices do reflect the values of the underlying businesses. When picking stocks, he looks for companies with solid balance sheets, and a return on equity capital (ROE) of 15% or better. Although his methods change with inflation and interest rates, he currently looks for companies with a P/E ratio lower than the companies' ROE and expected growth rates. He focuses on the long-term "Business of Investing" because he thinks that it is more profitable and more reliable. As a long-term investor, his "normal" position is to be 100% invested in corporate stocks. Warning! GuruFocus has detected 5 Warning Sign with MCK. Ronald Muhlenkamp (Trades, Portfolio) added a total of 1 stock, among them: The most significant addition was The Travelers Companies Inc (NYSE:TRV), with 6,648 shares, accounting for 0.58% of the portfolio and a total value of $1,758,130. Ronald Muhlenkamp (Trades, Portfolio) also increased stakes in a total of 7 stocks, among them: The most notable increase was Inc (NASDAQ:JD), with an additional 106,934 shares, bringing the total to 203,832 shares. This adjustment represents a significant 110.36% increase in share count, a 1.44% impact on the current portfolio, and a total value of $8,381,560. The second largest increase was Agnico Eagle Mines Ltd (NYSE:AEM), with an additional 720 shares, bringing the total to 151,252. This adjustment represents a significant 0.48% increase in share count, with a total value of $16,397,200. Ronald Muhlenkamp (Trades, Portfolio) completely exited 5 holdings in the first quarter of 2025, as detailed below: Tegna Inc (NYSE:TGNA): Ronald Muhlenkamp (Trades, Portfolio) sold all 691,332 shares, resulting in a -3.84% impact on the portfolio. Occidental Petroleum Corp (NYSE:OXY): Ronald Muhlenkamp (Trades, Portfolio) liquidated all 237,967 shares, causing a -3.57% impact on the portfolio. Ronald Muhlenkamp (Trades, Portfolio) also reduced positions in 15 stocks. The most significant changes include: Reduced Microchip Technology Inc (NASDAQ:MCHP) by 6,832 shares, resulting in a -5.8% decrease in shares and a -0.12% impact on the portfolio. The stock traded at an average price of $55.72 during the quarter and has returned 15.68% over the past 3 months and 9.45% year-to-date. Reduced Apple Inc (NASDAQ:AAPL) by 610 shares, resulting in a -0.97% reduction in shares and a -0.05% impact on the portfolio. The stock traded at an average price of $231.67 during the quarter and has returned -11.73% over the past 3 months and -14.77% year-to-date. At the first quarter of 2025, Ronald Muhlenkamp (Trades, Portfolio)'s portfolio included 26 stocks, with top holdings including 8.5% in McKesson Corp (NYSE:MCK), 7.87% in EQT Corp (NYSE:EQT), 6.65% in Berkshire Hathaway Inc (NYSE:BRK.B), 6.49% in Rush Enterprises Inc (NASDAQ:RUSHA), and 5.46% in NMI Holdings Inc (NASDAQ:NMIH). The holdings are mainly concentrated in 7 of the 11 industries: Financial Services, Basic Materials, Energy, Healthcare, Consumer Cyclical, Industrials, and Technology. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus.
