OK Zimbabwe Limited (OKZ.zw) 2016 Presentation

first_imgOK Zimbabwe Limited (OKZ.zw) listed on the Zimbabwe Stock Exchange under the Retail sector has released it’s 2016 presentation For more information about OK Zimbabwe Limited (OKZ.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the OK Zimbabwe Limited (OKZ.zw) company page on AfricanFinancials.Document: OK Zimbabwe Limited (OKZ.zw)  2016 presentation Company ProfileOK Zimbabwe Limited is a leading retail group in Zimbabwe with a product range that extends from groceries and houseware products to clothing and textiles. The inaugural branch was opened in Harare (then Salisbury) in 1942 and today, is one of the most recognised supermarket brands in Zimbabwe. The company trades under various branded store names, including OK stores, Bon Marché and OKMart. OK Zimbabwe sells products in its grocery range under its own home brand; OK Pot ‘O Gold, OK Value, Shoppers’ Choice and Bon Marché Premier Choice labels. OK Zimbabwe Limited operates approximately 61 retail outlets throughout Zimbabwe and owns subsidiaries that complement its diverse product offering; Eriswell (Private) Limited, Swan Technologies (Private) Limited and Winterwest (Private) Limited. OK Zimbabwe Limited is listed on the Zimbabwe Stock Exchangelast_img read more

Read More »

Here’s why BT’s share price is soaring today

first_img Edward Sheldon, CFA | Monday, 24th August, 2020 | More on: BT-A Our 6 ‘Best Buys Now’ Shares Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Here’s why BT’s share price is soaring today “This Stock Could Be Like Buying Amazon in 1997” After a terrible run over the last six months, the BT (LSE: BT-A) share price has jumped today. As I write, shares in the FTSE 100 telecommunications giant are up about 8%.So, why has BT’s share price suddenly spiked? And is it time to buy the stock?5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Takeover talkOver the weekend, Sky News published an article in which it said the board of BT Group is preparing to defend itself against takeover approaches from industry rivals and buyout firms. According to the report, BT has recently asked bankers at Goldman Sachs to update its bid defence strategy.The move comes in the wake of BT’s falling share price which, as of market close on Friday, was down nearly 50% for the year. That share price decline had reduced the company’s market capitalisation to just £10bn. According to Sky, BT has asked the investment bank to factor in a bid in the region of £15bn, which implies a significant takeover premium.The report mentioned two potential buyers for BT. According to its sources, a number of private equity firms have begun exploring the possibility of a joint bid for BT. German telecommunications giant Deutsche Telekom was also mentioned, as it already holds a 12% stake in BT. However, Sky made it clear that BT has not yet received a formal approach from any potential suitor.Is it time to buy BT shares?The fact BT has updated its bid defence strategy is certainly an interesting development. However, I wouldn’t rush out to buy its shares on the back of this takeover talk. I say this for a few reasons.Firstly, there’s no guarantee we’ll see a takeover any time soon. Sure, BT’s market capitalisation is very low after the recent share price fall. But this is a company that comes with serious baggage. For example, there’s a huge amount of debt on the balance sheet. There’s also a gigantic pension deficit.Secondly, BT’s role in critical national infrastructure networks means any takeover would require government approval. And there’s no guarantee that a deal would be approved by the UK government. As Sky says, a takeover could be “politically explosive.”Third, let’s not forget that this is a company experiencing serious challenges right now. On top of its balance sheet problems, the company is also struggling for growth. In recent years, revenues have declined and analysts don’t expect a rebound any time soon.Moreover, the company recently cut its dividend. Back in May, BT announced it was suspending both its final 2019–20 dividend and all dividends for 2020–21. That says something about the challenges the company is facing right now.So, while there’s a chance that BT could be taken over, I wouldn’t buy the stock on the back of this speculation. If a takeover doesn’t happen, you’ll be left holding a struggling company.In my view, you’re much better off investing in high-quality businesses that are financially sound, resilient, and have strong long-term growth prospects. Image source: Getty Images. Edward Sheldon has no position in any shared mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Edward Sheldon, CFA Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.last_img read more

Read More »

Engaging Networks announces peer-to-peer fundraising service

first_img Howard Lake | 1 July 2012 | News Engaging Networks announces peer-to-peer fundraising service AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Online campaigning and fundraising specialists Engaging Networks have announced a new peer-to-peer fundraising service that charities can embed on their own websites. In this way, supporters can stay on the charity’s website and not be taken away to third party sites.The widget-based technology enables individuals to create fundraising campaigns for their sponsored run or other event, and then share it via social network sites, blogs and other websites.Graham Covington, Managing Director of Engaging Networks, explained: “Our new software dramatically improves the donor journey for the friends and family of the peer-to-peer fundraisers. We are delivering the potential for greater campaign reach and growth.”The service will be launched on 6 July at wallacespace, London. The event will feature a presentation by Paull Young, the Digital Director of charity: water, which raised 75% of its 2011 income online. The charity uses peer-to-peer fundraising, with its most successful campaign encouraging supporters to give up their birthday to raise money for the nonprofit.There is no charge to attend the event but registration is required.www.engagingnetworks.net/events/p2pfundraising2012  36 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: Digital peer-to-peerlast_img read more

Read More »

Forum examines rank & file longshore struggle

first_imgClarence Thomas holds up the booklet “United,” a compilation of articles on the ILWU struggle from Workers World newspaper.WW photo: Judy GreenspanSan Francisco — The solidarity of the Occupy movement with the struggle of workers was highlighted on July 29 in San Francisco at a forum entitled, “Lessons from the ILWU Battle Against EGT in Longview and the Struggle Ahead.” Featuring rank-and-file leaders of the International Longshore and Warehouse Union and the Occupy Oakland Labor Solidarity Committee, the meeting focused on the struggle of longshore workers against union busting by Export Grain Terminal, EGT.Over the past year, the very survival of ILWU Local 21 in Longview, Wash., was targeted by EGT, which had been working hard to break the union contract. EGT built a multimillion dollar grain terminal there and had been running it with scab labor.On Sept. 7-8, 2011, thousands of longshore workers blocked a grain train trying to enter EGT. Last Jan. 23, Washington Gov. Chris Gregoire brokered an agreement between EGT, the Port of Longview and the ILWU on hiring issues, in fear of the impending battle to blockade a scab grain ship.Mike Fuqua, a rank-and-file leader of Local 21, spoke about the struggle against EGT. “We put everything into this struggle. We were working around the clock and doing all sorts of actions.” Fuqua noted that it was the attack on his union that propelled him into the struggle for workers’ rights. “I wasn’t an activist before this fight started.”Robbie Donohoe and Terri Kay from Occupy Oakland talked about the group’s organizing in support of the ILWU. After shutting down downtown Oakland, more than 30,000 demonstrators, declaring a general strike and marched on the Port of Oakland on Nov. 2, shutting it down, with support from ILWU rank-and-file members. They declared solidarity with the ILWU struggle in Longview.Occupy organized a West Coast port shutdown on Dec. 12, shutting down the ports of Oakland, Portland, Longview and Seattle, with significant disruptions at other ports, in solidarity with ILWU Local 21 and the port truckers in Los Angeles. Occupy also played a major role in planning the caravan to blockade the loading of the scab ship in Longview.Clarence Thomas, a longtime ILWU rank-and-file leader and activist, talked about the lessons learned from the EGT struggle. He said that the ILWU needs “rank-and-file leadership, not top-down.” Thomas characterized the port shutdowns as “rank-and-file resistance against international commerce. … It’s not an easy thing to shut down the fifth-busiest port in the country.”Thomas remarked that even though the Longview workers were saddled with a sellout contract, they know that their power rests with the workers and not with the union leadership. He noted that EGT and its affiliates had no idea what the workers could accomplish. Thomas referred people to the booklet, “United!” a compilation of articles from Workers World newspaper about the ILWU struggle.Other panelists were ILWU retiree Howard Keylor, who was one of the Local 10 organizers of the ILWU 1984 anti-apartheid action, and Jack Heyman, ILWU Local 10 retiree and chair of the Transport Workers Solidarity Committee, who focused on the business unionist leadership of the ILWU.Kyle Mackey, secretary/treasurer of the Cowlitz-Wahkiakum Central Labor Council and member of ILWU Local 21, made a short statement from the floor, publicly thanking Occupy Oakland for their support and solidarity. “We have to find new ways to fight the capitalists,” Mackey said.The July 29 event was sponsored by the TWSC, a rank-and-file organization composed mostly of ILWU members who organized solidarity actions for Local 21 in Longview. View the entire forum at this link: www.youtube.com/watch?v=08gc9lRReeEFacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Read More »

New Challenges to Vacancy Rates

first_img in Daily Dose, Featured, Loss Mitigation, News, REO March 11, 2020 1,964 Views Demand Propels Home Prices Upward 2 days ago New Challenges to Vacancy Rates Abandoned Homes Vacancy 2020-03-11 Seth Welborn National vacancy rates in the fourth quarter 2019 were 6.4% for rental housing and 1.4% for homeowner housing, according to the U.S. Census Bureau. The rental vacancy rate of 6.4% was not statistically different from the rate in the fourth quarter 2018 (6.6%), but 0.4 percentage points lower than the rate in the third quarter 2019 (6.8%). The homeowner vacancy rate of 1.4% was not statistically different from the rate in the fourth quarter 2018 (1.5%) and virtually unchanged from the rate in the third quarter 2019.Danielle Hale, Chief Economist for realtor.com, commented on how vacancies may be shaped by the coronavirus outbreak.”Looking forward, in 2020 the housing market continues to grapple with similar challenges: not enough home building leads to few homes available for sale, especially relative to the number of interested buyers,” Hale said. “This leads to fast-moving housing markets and rising prices, which will likely be propelled even higher by 2020’s lower mortgage rates. There are new challenges, such as COVID-19, that buyers and sellers will face, but the data from 2019 shows that despite market conditions that are less-than ideal, buyers are generally achieving success in their pursuit of the American Dream of homeownership. The data also shows that, particularly for some age groups and races, there is still room for improvement.”The homeownership rate of 65.1% was not statistically different from the rate in the fourth quarter 2018 (64.8%) nor from the rate in the third quarter 2019 (also 64.8%). The fourth quarter 2019 rental vacancy outside Metropolitan Statistical Areas (7.4%) was higher than the rate in the suburbs (5.9%), but not statistically different from the rate in principal cities (6.7%).The rental vacancy rates in principal cities, in the suburbs, and outside MSAs were not statistically different from the fourth quarter 2018 rates. The homeowner vacancy rate in outside MSAs (1.6%) was higher than the rate in the suburbs (1.3%), but not statistically different from the rate in principal cities (1.5 percent). The homeowner vacancy rate in the suburbs was lower than the fourth quarter 2018 rate, while rates in principal cities and outside MSAs were not statistically different from the fourth quarter 2018 rates.The fourth quarter 2019 rental vacancy rate was highest in the South (8.2%) followed by the Midwest (6.8%), the Northeast (5.2%), and the West (4.4%). The rental vacancy rates in each region were not statistically different from the fourth quarter 2018 rates. The homeowner vacancy rate in the South (1.6%) was higher than in the Northeast (1.3%) and the West (1.2%), but not statistically different from the Midwest (1.3%). Homeowner vacancy rates in the Northeast, Midwest, and West were not statistically different from each other. The homeowner vacancy rates in each region were not statistically different from the fourth quarter 2018 rates. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Abandoned Homes Vacancy Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribe  Print This Postcenter_img The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / New Challenges to Vacancy Rates Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share 2Save Previous: Fannie Mae Transfers $12B in Unpaid Principal Balance Next: President Trump Announces Coronavirus Response Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Read More »

Family of slain ISIS hostage Kayla Mueller says they secretly met with her captors in Iraq

first_imgKayla Mueller seen on her travels in this undated photo. (Courtesy of the Mueller Family)(PRESCOTT, Ariz.) — The family of Kayla Mueller, a humanitarian worker from Arizona who was held captive, tortured and killed by ISIS, said it brought them great solace to know that the U.S military operation that ended with the death of the terrorist group’s leader had been dedicated to her.President Donald Trump announced the death of the ISIS leader and founder Abu Bakr al-Baghdadi in a Sunday morning address that mentioned Mueller by name, calling her a “beautiful young woman” who died while trying to “help people.”“We just learned that the whole thing was dedicated to Kayla thanks to General [Mark] Milley and it’s very touching,” her father, Carl Mueller, told ABC News on Sunday. “President Trump mentioned her today in his statement and he mentioned that he deserved what he got for what he did to Kayla. … she’s not forgotten, and that’s important.”Mueller, 26, was on a humanitarian mission in Turkey on Aug. 3, 2013, when ISIS kidnapped her after crossing the Syrian border to visit a hospital. In February 2015, U.S. officials confirmed that she had died while in ISIS custody, but her body was never recovered.Sitting beside his wife, Marsha Mueller, in an emotional interview at their home in Arizona, Carl Mueller, also revealed that the couple once traveled to Irbil for a face-to-face meeting with Umm Sayyaf, wife of ISIS militant Abu Sayyaf. Delta Force killed Abu Sayyaf in May 2015 and captured Umm Sayyaf, who previously held Kayla Mueller captive in their home for al-Baghdadi to sexually assault.Carl Mueller said they went “against the advice of the FBI,” over the summer to find out what may have happened to their daughter’s remains — or if she could still be alive.“When we talked to Umm Sayyaf, we found we got more information out of her, not just us, the people backing us — they got information from her that neither the Kurds or the US government had got in the two days that we were there,” Carl Mueller said. “It makes a big difference when you are talking to these people with a humanitarian attitude. We don’t care what you did, what you’ve done — we just want to know what you know about our daughter to bring her home.”Through meeting with Sayyaf, and others who had contact with Kayla Mueller, they said they learned that she was held in solitary confinement, tortured, and raped by al-Baghdadi.“We learned from women that were ransomed out by their governments that she said she was held in many cold, dark places, she was raped by al-Baghdadi, we know that to be a fact,” Carl Mueller said. “She was murdered by him or someone in his organization. That’s what we’re pursuing and that’s what we hope that President Trump will help us with.”The couple said they had filed requests under the Freedom of Information Act to gather more information about how she may have died. The requests were denied, and they’re considering taking legal action to receive documents related to her death.“My only real goal is to be bring Kayla home, back to Arizona, where she grew up and was born. So that’s what we’re trying to do,” Marsha Mueller told ABC News.In his public address on Sunday, Trump said U.S. special operations forces targeted al-Baghdadi in a nighttime raid in Syria on Saturday. The troops eventually cornered him and three young children that he had taken captive.Realizing that there was no way out, he detonated a suicide bomb inside of a dead-end tunnel, killing himself and the three children.“He was a sick and depraved man. And now he’s gone. Baghdadi was vicious and violent. And he died in a vicious and violent way, as a coward, running and crying,” Trump said Sunday.He also noted that al-Baghdadi had committed “especially heinous” murders of innocent Americans in addition to Kayla Mueller, including freelance journalists James Foley and Steven Sotlof and humanitarian worker Peter Kassig.“Think of the things he did to Kayla. … What he did to her was incredible,” Trump said Sunday. “He kept her in captivity for a long period of time; he kept her in captivity, his personal captivity. She was a beautiful woman, beautiful young woman, helped people. She was there to help people.”“And he saw her and he thought she was beautiful and he brought her into captivity for a long period of time and then he killed her. He was an animal. And he was a gutless animal,” he added.Copyright © 2019, ABC Audio. All rights reserved.last_img read more

Read More »

Solar radiation transmitted to the ground through cloud in relation to surface albedo

first_imgThe global solar radiation received at the earth’s surface in the presence of cloud depends not only on the optical depth of the cloud and its other physical properties, but also on the albedo of the underlying surface. Multiple reflection of radiation between the cloud and a snow‐covered surface, mainly in the visible spectrum, can increase the measured global solar radiation by a factor of 2 or more in overcast conditions. A quantitative account of this effect is required, applicable to any cloud conditions, if climatological records of solar radiation at high latitudes are to provide adequate figures, even for monthly means, at locations where the surface albedo differs appreciably from that of the observing station. Measurements made at an Antarctic offshore station (65°S, 64°W) are compared during two periods of extreme surface albedo (open water and fast ice surrounding the island station) and demonstrate that the effect increases, in amplitude and variability, with increasing cloud cover. The extreme cases are reconciled by a relatively simple numerical model, of general applicability, in which partial cloud cover is parameterized by sunshine duration. Absorption in the cloud and the effect of local land surfaces are taken into account. The model is applied predictively to sunshine and visual sea ice data throughout a 2‐year period and successfully simulates the measured values of global solar radiation over a wide range of cloud and sea ice cover, enabling the irradiance for any value of surface albedo to be inferred.last_img read more

Read More »

UVU Cross Country Prepares To Host Meet Saturday

first_img Brad James Written by August 31, 2018 /Sports News – Local UVU Cross Country Prepares To Host Meet Saturday FacebookTwitterLinkedInEmailOREM, Utah-Saturday morning, Utah Valley cross country hosts the UVU Invitational. They will compete against Southern Utah, Idaho State and Division II Westminster.The Wolverines hope for a repeat of the 2017 UVU Invitational which saw both the men’s and women’s squads come away victorious.The Wolverines return nine male runners and 13 female runners from last season’s squad.The UVU men are expected to be led by returning All-WAC performers in redshirt junior Kevin Lynch of Sandy, Utah (Hillcrest H.S.) and returning WAC freshman of the year sophomore Anthony Ocegueda of Sparks, Nev.Other stalwarts for the Wolverine men include senior Brandon Edmondson of Payson, Utah (Salem Hills H.S.) and junior Adrian Jones of Meridian, Idaho.The Wolverines’ women will be led by returning second-team All-WAC performer and WAC freshman of the year, sophomore Hannah Branch of Draper, Utah (Canyon Corner H.S.).Other returning stars for the UVU women include senior Aisha Graham-Perez of Katy, Texas, redshirt senior Kami Lynch of Riverton, Utah (Herriman H.S.), senior Savannah Neuberger of Heber City, Utah and Maddie Riggs of Gilbert, Ariz. Tags: Adrian Jones/Aisha Graham-Perez/Anthony Ocegueda/Brandon Edmondson/Hannah Branch/Idaho State/Kami Lynch/Kevin Lynch/Maddie Riggs/Savannah Neuberger/Southern Utah/UVU Cross Country/Westminsterlast_img read more

Read More »

As Connells’ new homes and mortgages businesses boom, what’s its magic formula?

first_imgHome » News » Agencies & People » As Connells’ new homes and mortgages businesses boom, what’s its magic formula? previous nextAgencies & PeopleAs Connells’ new homes and mortgages businesses boom, what’s its magic formula?Company says the Brexit vote made no difference to a bumper 2016.Nigel Lewis15th February 201701,616 Views Connells appears to have blown the Brexit cobwebs off its business following two key announcements.The company says that last year its network of offices, which includes Connells and Sequence branded branches, recorded a six per cent rise in new homes instructions and a five per cent increase in exchanges compared to 2015.It also says its 40-strong land team has increased returns from its land department by a third in 2016 and that it is optimistic about this year.“The fundamentals of the market remain strong – there is continued appetite for land to meet the demand for new homes, a pro housebuilding and pro homeownership Government in place, buyer incentives and good, competitive finance available,” says Connells Group Land Director Roger Barrett (pictured, left).“This, alongside the steady growth in new homes supply from national, regional and local house builders, will see a buoyant market where we will experience further growth in the total number of new homes sales in 2017.”It’s mortgage business has also been doing well and in 2016 recorded a 10% increase in the number of mortgages its arranged for customers compared to 2015, generating a loan book of £10.3 billion.One surprising figures from this part of its business is that buy-to-let mortgage lending increase by 6%, despite the government’s recent attempts to stop landlords taking any greater share in the private rented sector.“Brexit didn’t dent consumer confidence in bricks and mortar and we are also seeing the number of returning customers grow,” says Adrian Scott, Connells Group Mortgages Services Director (pictured, right).“To service this demand, we continue to invest in our business offering our customers a consultant in every branch, boosting our customer support teams and growing our specialist new homes mortgage advice via the Group’s subsidiary The New Homes Group.  This ensures as many buyers as possible have access to our mortgage advice.”Roger Barrett Connells Adrian Scott Connells connells Connells report February 15, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Read More »

Ocean City Dredging Program Targets Clogged Harbors and Lagoons in 2016

first_imgKnown as Site 83, the disposal area near the 34th Street bridge can hold 300,000 cubic yards of dredge material. Construction has begun on a temporary road that will allow more trucks to serve the disposal site, speeding up the removal of dredge spoils to the Wildwood landfill. Eric Rosina, project manager for dredging consultant ACT Engineering, explains the challenges of removing soup-like sediment from the clogged lagoons and channels. Mayor Jay Gillian and representatives of the city’s dredging consultant told a town hall meeting Saturday attended by about 100 residents that the work will finally begin in earnest this year. Hoping to finally clean out this messy, soup-like material, the city will embark on a full-scale dredging program that promises to unclog the shallow lagoons and harbors along the back bays for generations to come. However, it will be extremely expensive. The city has proposed spending $20 million on dredging as part of its five-year, $98.5 million capital plan. But the mayor has estimated it could cost as much as $80 million to remove the entire 1 million cubic yards of mud and silt. By Donald WittkowskiOcean City’s lagoons are choked with 1 million cubic yards of muddy silt – the equivalent of 15 football stadiums filled with muck and mire. Whalen lamented that Sunny Harbor has taken on a deserted look because other boat owners are mooring their vessels elsewhere. Gillian and ACT officials acknowledged that the city is finally catching up for years of delays in dredging the lagoons. ACT’s contract includes developing short-term plans for immediately addressing some of the problems and a longer-term strategy for “generations to come,” said Carol Beske, the company’s project principal. In order to begin unclogging the lagoons, the city will also have to clear out a disposal site where the dredge spoils are stored temporarily before they are hauled off by trucks to a Wildwood landfill. Pressed by Ocean City residents during the town hall meeting for an estimate on how much it will cost them, Rosina said boat owners in Avalon paid about $14,000 to have their slips dredged. But he was unsure whether Ocean City boat owners would have to spend that much. “We’re talking about a lot of money,” Gillian said, noting that the city will be looking for financial aid from the state and federal governments to help pay for the dredging. Although the city will clear out lagoons and harbors, it will be up to individual property owners to dredge their boat slips at their own expense. Gillian explained that the city simply cannot assume the liability – or cost – to dredge private slips. Eric Rosina, project manager for ACT Engineering, said the emptying of Site 83 remains the top priority this year for the dredging program. As Site 83 is cleared out, it will free up more space for dredge spoils, which in turn will allow more lagoons to be deepened.center_img Snug Harbor, between Eighth and Ninth streets, was dredged last year, but the city’s contractor did not finish the job. Work is scheduled to resume in September to complete the dredging of Snug Harbor, which is so shallow that boats are trapped in their slips at low tide.About 100 Ocean City residents turned out for a town hall meeting Saturday on plans for a $20 million dredging program. Rosina said two lagoons, Snug Harbor and Glen Cove, are scheduled to be dredged this year. Bay Bridge, at the foot of the Route 52 causeway, Carnival Bayou Lagoon, between 16th and 17th streets, and South Harbor, between Tennessee Avenue and Spruce Road, are considered possible dredging sites this year. Ocean City resident Marty Whalen, whose Walnut Road home overlooks Sunny Harbor, said he was forced to sell his boat recently because he could not get it out of the clogged lagoon. “To find out that we have over 1 million cubic yards to get rid of is unbelievable,” Gillian said. Rosina assured residents that ACT Engineering would be available to guide them through the planning and contracting phases of their dredging projects. “We are here. We are going to work with you,” he said. The 1 million cubic yards of sediment is nearly double the previous estimates. The city is learning the full extent of the problem now that its dredging consultant, ACT Engineering, has conducted the first comprehensive survey of the lagoons, harbors and coves. ACT Engineering is also exploring the possibility of using some of the dredge materials to help restore eroded wetlands, creating even more shoreline protection for Ocean City during coastal storms. State and federal environmental agencies would have to approve the wetlands restoration plan. Glen Cove, between 10th and 11th streets, also has boats lying in the muddy bottom at low tide. “It just got to the point where I was locked in the lagoon for seven and a half hours at low tide,” he said. “In my lagoon, we once had six to eight sport-fishing boats. Now there’s only one,” he said.Residents were able to view renderings of the dredging projects lining the wall of the Howard S. Stainton Senior Center.last_img read more

Read More »