Ozmens’ SNC Secures New U.S. Army Contract to Continue Critical Encryption Device Production

Sierra Nevada Corporation (SNC), the global aerospace and national security company owned by Eren and Fatih Ozmen, was recently awarded a U.S. Army contract for $318.9 million for continued Simple Key Loader (SKL) production, engineering and sustainment support services. The SKL is a hand-held device used to load cryptographic keys into End Cryptographic Units enabling secure communications for U.S. tactical and strategic networks. It has proven itself capable, durable and cost-effective for U.S. Department of Defense (DoD) and Federal Civilian Agencies, NATO Allies and U.S. Coalition Partner Nations worldwide.

Tagged under

Hanover Bancorp, Inc. and Savoy Bank Announce Strategic Merger Combination to Create a Premier NYC Metro Community Bank

MINEOLA, N.Y., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Hanover Bancorp, Inc. (“Hanover” or “the Company”), parent company of Hanover Community Bank, and Savoy Bank (“Savoy”) are pleased to jointly announce that Hanover and Savoy have entered into a definitive agreement pursuant to which Savoy Bank will merge into Hanover Community Bank in a stock and cash transaction valued at approximately $63 million. The agreement was unanimously approved by the boards of directors of both companies. Directors of Savoy have executed voting agreements in favor of this combination. The Savoy directors own approximately 49% of Savoy’s outstanding shares.

Tagged under

US Election Seen from Turkey: Turkish People Have "A Very Negative Perception of Joe Biden"

İpek Yezdani is an international freelance journalist based in Turkey. Our conversation has been edited for length and clarity.Carlos Santamaria: In your opinion, what are two or three issues that people in Turkey are concerned about regarding the upcoming US election?

IY: There are several very important critical issues for Turkey-US relations. One of them is, of course, Syria. During the Obama administration, there was huge support for the Kurdish YPG forces in Syria. During the Trump administration, this support has continued for a while. The Turkish government considers the YPG as a terrorist organization, but on the other hand, Turkey is an ally, a NATO ally, maybe one of the strongest US allies in the Middle East. We has been fighting against this terrorist organization for decades, so this is a very important issue for Turkey.

How Much Is The Western Union Company Paying Its CEO?

Hikmet Ersek has been the CEO of The Western Union Company (NYSE:WU) since 2010, and this article will examine the executive’s compensation with respect to the overall performance of the company. This analysis will also look to assess whether the CEO is appropriately paid, considering recent earnings growth and investor returns for Western Union. According to our data, The Western Union Company has a market capitalization of US$9.3b, and paid its CEO total annual compensation worth US$10m over the year to December 2019. That’s a notable increase of 10% on last year. We think total compensation is more important but our data shows that the CEO salary is lower, at US$1.0m.

The Greatest Generation’s Squandered Legacy

By DARON ACEMOGLU (Project Syndicate)  CAMBRIDGE – To the interwar generation of the first half of the twentieth century, today’s crises would have appeared rather ordinary. They had seen much worse: the two bloodiest wars in human history, mass unemployment and destitution created by the Great Depression (which still dwarfs this century’s recessions), and far more serious threats to democracy in the form of Soviet communism, fascism, and Hitler’s National Socialism.

Tagged under

The Short Film by a Turkish student in the U.S. is shown at the Cannes Film Festival.

The short documentary film by the Turkish student named Onay who lives in New York will be shown at the Cannes Film Festival.

Nehir Onay, who is receiving a master's degree education on documentaries in New York, made statements to an Anatolian Agency reporter about the short documentary. 

Onay said that his project titled "Sur Les Pointes" which is about a professional ballet institution and the choreography at that institution, was nominated for the category of best short documentary film in Cannes, and added that her short film also received the second best documentary film award at a film festival organized in New York.

Onay indicated that she was not only the director but also the producer of the project from its development to its distribution.

Onay also stated that the short film festival, which will be held online this year due to the coronavirus, will premiere on September 13th. The projections will end on September 21st. She added that the viewers who purchase tickets for the films that will be streamed online will also have the right to vote for the films.

Century-Old Companies Are Going Bankrupt

Despite the economic aid packages offered by Congress and Trump administration considered the current epicenter of the Coronavirus pandemic,many well-known companies have been filing bankruptcy postponement applications. After textile retail giants Neiman Marcus, J.Crew, and True religion, another long-established company, JCPenney, requested the bankruptcy postponement. The 118-year-old company has recently had to shut down its 850 stores.

The company first missed the debt payment that was due April 15. Another payment was skipped on May 7. JCPenney's application to the Securities and Exchange Commission stated that the company owes $4 billion in debt, and $17 million worth of interest was paid.

JC Penny CEO Jill Soltau said that they implemented the renewal plan strategy before the start of the pandemic and added, "In this context, we have taken important steps towards rebuilding our company. Our efforts were starting to pay off. However, closing our stores due to the pandemic required us to make a comprehensive move, including the removal of outstanding debt", said Soltau.

List of Companis that have filed for bankruptcy during the coronavirus pandemic:

Stein Mart,Virgin Atlantic,Lord & Taylor,Tailored Brands, Muji U.S.,Brook Brothers, Sur La Table,Hertz,Le Pain Quotidien,US Division,GNC,Neiman Marcus,JC Penny, J. Crew,CEC Entertainment,NPC International.

The economic recession is also expected to be reflected in the data in the real estate market, and despite the record high economic stimulus package, government spending is expected to decline more than ever recorded as local governments transfer their resources to fight the pandemic.

White House Economic Advisor Kudlow: "The U.S. economy is on the right track."

Trump's Economic Advisor Kudlow suggested that the capital gains tax cut that President Trump has recently brought up to question again will help increase the personal incomes and boost overall economic growth.

For the first time in U.S. history, the number of people requesting unemployment benefits increased by 135,000 in the week ending on August 15 compared to the previous week and reached 1,106,000. As the COVID-19 pandemic has impacted the labor market, the number of individuals that applied for unemployment pay in the U.S. had risen to 6,867,00 and set a new record on the week ending on March 28.

Looting hit a Turkish-owned pharmacy store in the U.S

The protests that were sparked by the death of African American George Floyd at the hand of the Police continue to flare across the USA. The damage in businesses looted by the protesters in the demonstrations that spread to many states is remarkable. The pharmacy store owned by Mehmed Bülend Uğur, the President  of the Turkish American Pharmacists Association (TAEB), got its share from the attacks of the protesters in New Jersey hit by the protests.  Even prescription drugs in the pharmacy were stolen by the protesters who had been looting all over the city.

ALL OF THE PRESCRIPTION DRUGS WERE STOLEN

Mehmed Bülent Uğur, President of the Turkish-American Pharmacists Association (TAEB),spoke with Ali Cinar from Turk of America  shared all details about the incident in his pharmacy. Ugur said, "Yesterday evening, unfortunately, they broke into our pharmacy in groups of 5 to 10 people within minutes of each other. As you can see in the videos, they scattered when the Police arrived. But they stole the money in the cash register and even the prescription drugs of our patients. They stole the prescription drugs that were supposed to be delivered to the patients today. These individuals are not from Trenton; they have come here from another town. Four of them have been apprehended by the Police."


SOME OF THE LOOTERS WERE APPREHENDED

Ugur, a graduate of the Istanbul University, Faculty of Pharmacy and a pharmacist in the city of Trenton, NJ for the last 15 years stated; "It is very wrong for the Police to kill someone through brutality, but the response in the form of looting is not the right way. Furthermore, they all know about drugs. While some of them took what they could, others knew exactly which drugs they were going for. And they all scattered when the Police arrived. The weird thing is, our alarm did not go off. We have a deafening alarm system. We got a call from our warehouse, and they warned us, "In case of another attack which is expected in the next 48 hours, take necessary measures!"

Washington D.C. Mayor Muriel Bowser unveils large street banner reading 'Black Lives Matter'

DC Mayor Muriel Bowser shared the painting made on 16th Street, which became the center of protests in response to the killing of African American George Floyd while in the custody of the police in Minnesota, on her Twitter account and announced that an intersection near the White House was renamed to Black Lives Matter Plaza.

Each of the 16 bold yellow letters spans the width of the two-lane street, creating a huge visual easily spotted by aerial cameras and virtually anyone within two-three blocks.

Mayor Bowser sent a letter to  President Trump, stating that she ended the “state of emergency” situation and the curfews in the city, and requesting that he withdraw the National Guard soldiers in the city.

Per President Trump's request,Pentagon moved 1,600 active-duty troops to the Washington area as the military is playing a critical role in responding to protests in the nation's capital,Washington,DC .

Subscribe to this RSS feed