May 10, 2021

finds

Bay Area business finds a new home in Fresno

Jeffrey De Ponte, CEO of Exhibit Supply, cuts the ribbon on his new facility in Fresno. Photo by Frank Lopez

published on May 7, 2021 – 4:23 PM
Written by Frank Lopez

A business transplant just opened its doors and two local chambers helped celebrate the opening day.

Exhibit Supply celebrated its grand opening Friday with help from The Fresno and Clovis Chambers of Commerce.

Exhibit Supply is an advertising company in Fresno at 225 N. Gateway Blvd., Space 101, that makes customized canopies, display booths, fabric displays, table skins, flags and tradeshow counters. It is located near Fresno Yosemite

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Pompeo violated ethics rules by asking staff to carry out personal tasks, watchdog finds

The Department’s Office of Inspector General “found that both Secretary and Mrs. Pompeo requested that the political appointee and other employees in the Office of the Secretary undertake work of a personal nature, such as picking up personal items, planning events unrelated to the Department’s mission, and conducting such personal business as pet care and mailing personal Christmas cards,” according to the report. “OIG found that such requests were inconsistent with Department ethics rules and the Standards of Ethical Conduct for Employees of the Executive Branch.”

The report, which was published Friday, also noted that the Pompeos directed one
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Wall Street Finds New Way To Finance Unprofitable Tech Firms

No earnings? No problem. Investors are funneling money to unprofitable software companies through a new type of debt deal.

Nonbank lenders like Golub Capital, AllianceBernstein Holdings LP and Owl Rock Capital Partners LP have issued asset-backed bonds to help finance about $2 billion of loans to such companies since November, according to data from Kroll Bond Rating Agency Inc. and S&P Global Market Intelligence. Many of the loans are to fast-growing, but still unprofitable, software enterprises.

The rash of recent deals is the latest indicator that large investors have resumed their hunt for high-yielding debt to offset low interest rates

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A Novel Way to Finance School May Penalize Students from HBCU’s, Study Finds

The typical student who borrows to attend college leaves with more than $30,000 in debt. Many struggle to keep up with their payments, and America’s ballooning tab for student loans — now $1.7 trillion, more than any other type of household debt except for mortgages — has become a political flash point.

So a financing approach known as an income-share agreement, which promises to eliminate unaffordable student debt by tying repayment to income, has obvious appeal. But a new study has found that income share agreements can also mask race-based inequalities.

The analysis, released on Thursday by the Student

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NJ Transit administrators abused car policy for personal use in 2017, audit finds

A Wawa run on a day off. A 132-mile daily commute between Newark and Toms River. A weekend trip to Lambertville.

Out of 25 administrators who were assigned NJ Transit vehicles for business use in 2017, 22 misused them, primarily for commuting, when they could have taken a train or bus, according to a 2018 internal audit obtained by NJ Advance Media.

The March 2018 document by former auditor Warren Hersh determined that administrators abused the policy — which said vehicles were authorized for business only — by using them for commuting 84% of the time. Instead, they should have

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Elaine Chao used DOT staff to aid personal errands, father’s business, inspector finds

The IG’s report and related documents “demonstrate that Secretary Chao used her official position and taxpayer resources for the benefit of herself and her family,” said Rep. Carolyn Maloney (D-N.Y.), chair of the House Committee on Oversight and Reform, in a statement late Wednesday. “Secretary Chao’s flagrant abuse of her office provides further evidence that additional ethics and transparency reforms are needed.”

Investigators from the IG’s office referred their findings to the Justice Department’s U.S. Attorney’s Office and its Public Integrity Section in December, but both offices declined to open criminal investigations.

Chao, who left office in January, was one

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