33 relations: Air gun, Ammunition, AR-15 style rifle, Centerfire ammunition, Field target, Firearm, FN 5.7×28mm, Gauge (firearms), Hunter Field Target, Intermediate cartridge, Pellet (air gun), Rimfire ammunition, .22 Accelerator, .22 BB, .22 BR Remington, .22 CB, .22 Eargesplitten Loudenboomer, .22 Extra Long, .22 Hornet, .22 Long, .22 Long Rifle, .22 PPC, .22 Remington Jet, .22 Short, .22 Spitfire, .22 TCM, .22 Winchester Automatic, .22 Winchester Magnum Rimfire, .22 Winchester Rimfire, 22 (number), 5 mm caliber, 5.56×45mm NATO, 5.6×52mmR.
An air gun (or airgun) is any kind of gun that launches projectiles pneumatically with compressed air or other gases that are pressurized mechanically without involving any chemical reactions, in contrast to a firearm, which relies on an exothermic chemical oxidation (deflagration) of combustible propellants to generate propulsive energy.
Ammunition (informally ammo) is the material fired, scattered, dropped or detonated from any weapon.
An AR-15 style rifle is a lightweight semi-automatic rifle based on the Colt AR-15 design.
A centerfire cartridge is a cartridge with a primer located in the center of the cartridge case head.
Field target is an outdoor air gun discipline originated by the National Air Rifle and Pistol Association in the United Kingdom in 1980.
A firearm is a portable gun (a barreled ranged weapon) that inflicts damage on targets by launching one or more projectiles driven by rapidly expanding high-pressure gas produced by exothermic combustion (deflagration) of propellant within an ammunition cartridge.
The FN 5.7×28mm (designated as the 5,7 × 28 by the C.I.P.) is a small-caliber, high-velocity smokeless powder rebated rim bottlenecked rifle cartridge designed and manufactured by FN Herstal in Belgium.
The gauge of a firearm is a unit of measurement used to express the inner diameter (bore diameter) of the barrel.
Hunter field target (HFT) is a target shooting sport derived from the air gun disciplines of field target shooting and hunting.
An intermediate cartridge is a rifle/carbine cartridge that is less powerful than typical full-power battle rifle cartridges (such as the.303 British, 7.62×54mmR, 7.92×57mm Mauser,.30-06 Springfield or 7.62×51mm NATO), but still has significantly longer effective range than pistol/personal defense weapon cartridges.
A pellet is a non-spherical projectile designed to be shot from an air gun.
Rimfire is a method of ignition for metallic firearm cartridges as well as the cartridges themselves.
The.22 Accelerator is a special loading of the.30-30,.308, and.30-06 cartridges that is manufactured by Remington.
.22 BB Cap (Bulleted Breech Cap) is a variety of.22 caliber rimfire ammunition.
The.22 Bench Rest Remington cartridge, commonly referred to as the.22 BR Remington, is a wildcat cartridge commonly used in varmint hunting and benchrest shooting.
.22 CB Cap (Conical Ball Cap) is a variety of.22 caliber rimfire ammunition which has a very small propellant charge (usually no gunpowder, just the primer), resulting in a low muzzle velocity of between 350 and 853 ft per second (107 and 260 m/s).
.22 Eargesplitten Loudenboomer is a cartridge for a rifle.
The.22 Extra Long is a.22 in (5.6 mm) American rimfire rifle and handgun cartridge.
The.22 Hornet or 5.6×35mmR is a varmint, small-game, predator, and competition centerfire rifle cartridge commercially introduced in 1930.
.22 Long is a variety of.22 caliber (5.6 mm) rimfire ammunition.
The.22 Long Rifle (metric designation: 5.6×15mmR) cartridge is a long-established variety of.22 caliber rimfire ammunition, and in terms of units sold is still by far the most common ammunition in the world today.
The 22 PPC is a centerfire rifle cartridge developed in 1974 by Dr.
The.22 Remington Jet (also known as.22 Jet,.22 Center Fire Magnum, or.22 CFM)Barnes, p.148, ".22 Remington Jet".
.22 Short is a variety of.22 caliber (5.6 mm) rimfire ammunition.
The.22 Spitfire (also known as 5.7mm Johnson or MMJ 5.7mm Johnson) is an American rifle cartridge.
The.22 TCM or 22TCM (.22 Tuason Craig Micromagnum) is a proprietary bottle-necked cartridge created from a 5.56 NATO cartridge developed by custom gunsmith Fred Craig and Rock Island Armory (RIA) for semi-automatic pistols and the Rock Island M22 TCM bolt action rifle.
The.22 Winchester Automatic (also known as the.22 Winchester Auto and occasionally.22 Win Auto) is a.22in (5.6mm) American rimfire rifle cartridge.
The.22 Winchester Magnum Rimfire, also called.22 WMR,.22 Magnum,.22 MRF, or.22 Mag, is a rimfire cartridge.
The.22 Winchester Rimfire (commonly called the.22 WRF) is an American rimfire rifle cartridge.
22 (twenty-two) is the natural number following 21 and preceding 23.
This article lists firearm cartridges which have a bullet in the to caliber range.
The 5.56×45mm NATO (official NATO nomenclature 5.56 NATO) is a rimless bottlenecked intermediate cartridge family developed in Belgium by FN Herstal.
The 5.6×52mmR cartridge was created by Charles Newton and produced by Savage Arms in 1912.


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These are the stories of young Harry Winslow and his friendships with the pilots of the Royal Air Force in World War II England. Written for boys but appealing to all, the tales are based on history and depict values such as courage, heroism, and responsibility.
Tales of the RAF: The New Kid
Harry desperately wants to join the RAF to take an injured pilot's place, but his mother repeatedly denies him permission to join. He is ready to give up until he sees the familiar new recruit assigned to Hampton. A startling discovery leads to a lesson in patience and enjoying childhood - Harry will grow up soon enough.
"synopsis" may belong to another edition of this title.
"The Tales of the RAF has everything it needs to appeal to youngsters. Some topnotch children's literature!" -- Ben Franklin Award Review
"About this title" may belong to another edition of this title.
Book Description Rising Star Studios, LLC., 2010. Condition: Good. Sonny Schug (illustrator). A+ Customer service! Satisfaction Guaranteed! Book is in Used-Good condition. Pages and cover are clean and intact. Used items may not include supplementary materials such as CDs or access codes. May show signs of minor shelf wear and contain limited notes and highlighting. Seller Inventory # 1936086646-2-4
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Book Description Rising Star Studios, LLC., 2010. Paperback. Condition: Used: Good. Seller Inventory # SONG1936086646
Book Description Rising Star Studios, LLC. PAPERBACK. Condition: Fair. 1936086646 We guarantee all of our items - customer service and satisfaction are our top priorities. Please allow 4 - 14 business days for Standard shipping, within the US. Seller Inventory # POXM-1936086646
Book Description Rising Star Studios, LLC., 2010. Paperback. Condition: Very Good. Great condition with minimal wear, aging, or shelf wear. Seller Inventory # P021936086646
Book Description Rising Star Studios, LLC., 2010. Paperback. Condition: Good. Reprint. Ships with Tracking Number! INTERNATIONAL WORLDWIDE Shipping available. May not contain Access Codes or Supplements. May be ex-library. Shipping & Handling by region. Buy with confidence, excellent customer service!. Seller Inventory # 1936086646

domain: literature


text:
They build on their understanding gained in EYFS that they are similar to others but everyone is unique learn and they about Rosa Parks in Black history month and start their knowledge of historical inequality of black rights They know that some people treat (treated) others in ways that are not kind because of the way the look.
As part of the Gunpowder plot topic, they will learn to recognise The Houses of Parliament and why they are important to us today. They will learn about the events associated with the Gunpowder Plot and understand why we celebrate bonfire night.
When they study ‘Toys through time’, children will discover what a timeline is and how it can be used to show chronology. They will then be able to make comparisons between how their toys are played with similar or different to a different generation.
In the Spring term during their history topic, children will learn about our monarchy today and how a new monarch is selected, when the current ruler dies. They will then learn about the events related to the Battle of Hastings and how this led to the building of many castles in England. They will learn about life in a Norman castle which will be enhanced by a visit to Beeston Castle.
In the Summer term, children will continue to develop their understanding of timelines through the topic 'Transport Through Time.' They will compare how different types of transport has changed over the past 100 years. They will also learn about how a local event, the Rainhill Trials, was of significant national importance. They will look again at the importance of local rail links in KS2 in relation to trade.

domain: sociology


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Mia the gorgeous Ballerina Doll cake is 10 inch (25.5cm) in diameter at the base and overall height including the doll is approximately 30cm high.
Available in Vanilla or Chocolate. Serves 15 - 20. Finished with purple vanilla buttercream icing and silver glitter. Doll packaging is supplied with the cake.
Available for Delivery or In Store Collection - 48 hours notice
It's not often that I find cakes that aren't homemade by family members that taste as good as this, but far out - looked epic and tasted SO good. I was also really surprised with how much cake is in there too!
The cake was absolutely stunning how the inside was a little dry.
Unfortunately my sister inlaw bit into a cup cake with a tangled hair right in middle all St uck in the salted caramel cupcake
Our daughter has been eyeing off this beautiful cake for months. Such beautiful design and the taste was amazing. This isnt the first time I've ordered from the Cupcake Queens so thank you very much for the delicious cake.
Frozen 2 has arrived and the BEAUTIFUL Elsa is a MUST have at your next party....
A total show stopper for any birthday party!! The Ballerina Pink Swirl Barbie Doll cake is...
Anna is the perfect addition to your Frozen 2 party and every girls dream. The...

domain: food


· Canadian Tour
· Champions Tour
· European PGA Tour
· LPGA Tour
· Nationwide Tour
· PGA Tour
Wu claims medalist honors at Women's Am
Glen Cove, NY (SportsNetwork.com) - Bethany Wu carded a 2-under 68 on Tuesday to claim medalist honors at the U.S. Women's Amateur Championship.
Wu ended the stroke-play portion of the tournament at 3-under-par 137.
First-round leader Su-Hyun Oh, one of last year's quarterfinalists, tripped to a 2-over 72 during her second round at Nassau Country Club to fall into a tie for second place with Andrea Lee (69) at 2-under 138.
Dylan Kim (68), Alison Lee (71), Megan Khang (72) and Celine Boutier (70) tied for fourth place at even-par 140.
Wu started on the back nine and opened her round with a birdie at the 10th. She gave that shot right back with a bogey at the 11th, but then birdied three of her next four holes to jump to 4-under.
After parring her next five holes, Wu birdied the par-3 third to reach minus-5.
She later fell back to 3-under with back-to-back bogeys at the seventh and eighth. She parred the ninth to end there.
Oh also started on the 10th tee and countered a bogey at the 12th with a birdie at the 14th to make the turn at 4-under.
She also recorded a pair of bogeys during her inward nine to finish at minus-2 as she dropped shots at the fourth and fifth.
Lee bounced back from an early double-bogey with three birdies during her second nine to earn her share of second place.
Defending champion Emma Talley (70) advanced to match play in a tie for 46th place at 6-over, while the final players to make it through will complete an 8-for-3 playoff when play resumes Wednesday at 7:15 a.m. ET.
Jackie Rogowicz, Elyse Smidinger and Malia Nam were all eliminated from the playoff before play was suspended for darkness. Mary Chandler Bryan, Lakareber Abe, Michelle Piyapattra, Haylee Harford and Mariana Sims will play for the final three places.
The championship will conclude with the 36-hole final on Sunday.
08/05 20:46:03 ET
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The Real Truth About Waiting
It’s time to stop waiting.
Time to maybe ask ourselves why we’re waiting.
And maybe get precise on what it is that we are waiting on.
Time to ask the question of how we want to live our lives.
To seek what it is that we desire to live into.
To wonder why we aren’t doing so, why we’re waiting.
I know some of what I was waiting on ten years ago.
I was waiting until my paintings got better.
I was waiting to get accepted into a prestigious gallery or win an award in a major art competition.
Waiting to be discovered by those in the know.
Waiting until I felt good enough.
Waiting until the stars had aligned, and good outcomes were guaranteed.
Do you know where all that waiting got me?
Twenty years older and twenty years down the road with not much to show for in terms of my dreams.
It kept me discouraged and feeling less than.
It made my dreams of the life I desired feel further and further away.
So many years wasted in waiting and then one day I decided…
I wasn’t going to wait anymore (you can hear a bit of my personal story just recorded at the podcast link below).
The thing to know about not waiting is this.
It doesn’t require that we begin doing everything at once, trying to make up for lost years.
We just have to stop waiting.
I looked up the opposite of waiting.
Here’s what I found: advancing, beginning, doing, forging, forwarding, going, moving, carrying on, going ahead, taking off.
Words that denote action, movement, doing something.
Notice it doesn’t involve what the size of the action is.
It merely shows that waiting has been replaced with doing.
Author of On Being Human, Jen Pasitloff (more about her in my next writing) summed it up so beautifully when she said this:
I’m tired, folks.
I can’t wait anymore.
Because ultimately, I woke up & finally asked WHAT AM I WAITING FOR? and it was nothing, and I mean absolutely nothing, that wasn’t already inside of me.
We already have everything we need. It’s time to stop waiting.
Special Note: I was honored to do a fantastic podcast with someone who’s work I greatly admire. Her name is Mary Rogers, and she is the smooth voice and great questions behind the Experience 50 podcast. I think you will enjoy it (and many more of her other audios–be sure and subscribe to her podcasts!) You can listen to it by clicking here!
I listened to the podcast a few weeks ago and found personal growth from it. I was waiting for exactly the same things you were waiting for, Dreama. As with everyone, my goals and decisions were very different. What I decided was I wasn’t going to chase art success and personal success in any way. It was time for me to close the door on art in every area except personal enjoyment. I shuttered my art business, withdrew from all art organizations, competitions, shows and galleries. On Christmas Day my website will shut down. I now paint only for me and only for personal joy. Success and money don’t bring happiness as I never found it though I seriously chased it for twenty years . For me happiness is accepting myself, like when you picked you.
Dear Beloved Dreama, I feel I’ve been waiting to be born forever. Waiting for approval (mostly self), waiting for clarity, waiting for direct guidance or a divine intervention.(I think I got one !) Swimming in a sea of uncertainty and self doubt. Never feeling quite good enough to even really begin. I am now 56 and if not now… when ? Each time I engage with you via the internet I sob. I feel restored and full of life ! Exciting ideas fill my world ! I have not even began the Postcards yet since I decided last minute. You see, I could not sleep for your divine invitation lured me like a hungry grouper. How can you see me? How can you know me so at depth? It must be thing called genius … the place of namaste… the place of oneness. With you I feel hopeful and like it’s not too late for me. To heal, to create, to be joyful, to fill of purpose and to share with others ! It has been hell these last five years going through the sudden and tragic death of my son. I have been very physically ill as a result. I am finally starting to think I might make it ! I might live ! I am beyond grateful ! I love and appreciate you. You are a DREAM come true ! Love, Julie
Julie–dear one–I feel the hope and the coming alive in your words. What a journey you’ve been on. And what an immense loss you have endured. Sending you much love and joy for the present and for times to come. You are so loved!
Not that I have been waiting, so many people need me right now that art gets put aside, it is such a disappoint to me to keep shoving it aside. Art is very important to me. Today is is cooking stuffed peppers and a fancy cake, but my paints are crying ‘stove forgetting about us!’
Oh Dreama, this is so timely! I’m not sure what I’m waiting for but at my age I’m running out of time to be waiting for anything. I mean seriously, when will be the right time! Thank you.
The waiting game doesn’t make sense for any of us Colleen– and it is a sneaky little thing–I’ll just wait until…what?!?
Hi Dreama. Your post today was perfect. Not just for me… I was literally writing a letter to my friend in Paris (France) who is trying to decide whether to make a break from the city to the South of France. I was telling him exactly what you are talking about. I sent him your post. I particularly liked Jen’s quote, that I have everything already inside of me that I need. That will be a watch-word (phrase) for me as I continue to move forward myself. Thank you Dear One. Blessings be yours…. AnnieKate
You’re so welcome Annie! The wisdom from Jen is still unfolding for me–I love her and her book! Waiting is overrated ;-)!!
Follow along on my social accounts for behind the scenes peeks, inspiration, tips, stories & more.


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Are you interested in
- improving your diet so you have more energy, be healthier and fitter.
- being able to choose healthier types of foods from the vast amount of different foods that are available in our supermarkets, restaurants and other food outlets.
- learning more about how food and how what you eat influences your health and well being.
“Look at this as a chance to learn more about nutrition and how food and what we *eat* or *don’t eat* influences our health, energy levels and ultimately quality of life.”
Some of my current south Dublin (D14, D16, D18) based personal training clients or fitness and Pilates class participants might know that I’m attending a one year *Nutrition & Health Coaching Course* with the IINH in Bray, just south of Dublin. IINH stands for “Irish Institute for Nutrition and Health”.
I will have to write four nutrition and health case studies as part of this course and found already two participants, who will join in in the next one to two weeks (Sat 16.01.2016). All meaning I’m still looking for another two case study participants in the D14, D16, D18 area.
The case studies consists of four One-to-One sessions, which are spread out over the next 8-10 weeks.
Session (1) – Initial Consultation – 1-1.5 hours:
The consultation should take place mid to end of January 2016. We will go through a nutrition and health questionnaire to find out what you are currently eating, are there any health issues, how active you are etc. etc.. I might give you a few small food, nutrition and diet tips after this session. The main objective here is fact finding and identifying what you current lifestyle is like.
Session (2) Nutrition, Diet Food Plan, recommendations, Tips – 1 hour:
(ideally 7-10 days after our initial consultation)
The information we gathered in the first session will enable me to create a personalized and nutrition and food plan with various tips, advice for you. This might include recommendations regards what foods you ideally eat more off, other foods you may replace with something else or foods that you could consider cutting out completely to improve your health, fitness and well being.
We could look into how to read and understand food labels, enabling you to make healthier choices when you go shopping. There will also be time where you can ask other nutrition and food relation questions e.g. “How much healthier is it to eat organic and is organic food really better for us or is it only a marketing ploy?”.
Session (3) Follow-up One 20min to 1 hour:
(around three weeks after our second session)
We will review how you got on with the plan and the various recommendations, possibly tweak the plan, identify other things that you can do and see what worked and what might not have worked for you, gather your thoughts, impressions and experiences so far. All to improve and deepen your understanding of how food and nutrition influences you physical and mental health, fitness and overall well being.
Session (4) Follow-up Two 20min to 1 hour:
(around three weeks after our third session)
The objective are the same as for session (3).
The follow-up session (3) and (4) might be done via skype or phone, but are ideally done in person.
Are you motivated? Do you want to make 2016 a health and fitter year and put in a bit of time, energy and commitment to see real results, then contact me. You will ideally keep a food diary for 7-10 days before we meet.
Please call or send me a brief e-mail via the form below within the next few days or as soon as possible if you are interested in participating in these case studies or if you know someone who would benefit from something like this.
Yours in Health, Fitness and Well Being
[iphorm id=”3″ name=”IINH Case Study form 01-2016″]


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They demand that you speak up, say something, make your voice heard, as if everything is clearcut and obvious and true, and as though your voice would make a difference to the wronged, caught in the crossfire of conflict.
Perhaps the silent fear opening the door to another giant invasion from outside, sold as a humanitarian intervention like Iraq and Libya.
Perhaps the silent still recall how those moderate Western-backed rebels morphed into the fearsome ISIS before our very eyes, providing new incentives to bomb the oil fields of Syria just a year after parliament declined to bomb them because of Assad.
Doors will open anyway, and those who want war will get it, whether we witness for the wronged or not. And those that demand we speak up now will demand that we stay silent in the face of wrongs perpetuated by our allies and friends. No, now is the time to call for more war, claim our respected leaders, not a time to petition for peace.
And on and on it goes. Yet more innocents will be wronged, innocent lives destroyed, as the fire spreads, rages out of control and ravages all in its path. And in time we will watch as our unprincipled leaders change their minds, adopting whichever new stance best suits the moment, confounding their students and followers with the fog of confusion that characterises these anarchic times.
But for now: “Speak up!” they chant. “O you hypocrites, turncoats, renegades, men of weak faith, backsliders, heretics, heathens, traitors, defectors, fugitives and snakes: petition all the forces of earth to rain cruise missiles down on the enemy. Demand that they deploy the standing armies from Saudi and Kuwait to vanquish the evil enemy. Speak up, speak up! Join our mighty chorus, beating the drums of war!”
Browbeaten, we might capitulate. Who wants to be an outlaw amongst friends? We will join in the sorrowful rejoinders and mournful laments, withheld from the mass of the victims of equally calamitous crimes; may our invocations sanctify the poor few amongst the thousands dead. Without a doubt it is their right.
But tomorrow, I can tell you, those hallowed ones will change their tune. Those that demand you speak up now, will tomorrow be writing of evil plots, of false-flag operations, of media-collusion, of takfiri extremists who don’t represent us. The fog will suddenly have lifted for them. But as for you: you are still the hypocrite, the heretic and heathen. You are still the ignorant one, to be turned whichever way the shepherd chooses, at that particular moment, on that particular day.
We are but partisan pawns on the great chessboard. We have forgotten that we are called to witness to the truth — if we are able to — not to champion for our team come what may. And if we do not know, or cannot verify the news we receive, to stay silent. Yes, even if everyone around us demands that we speak up, take a stance, make a choice.
But in any case, this fire will rage on and only spread, because nobody is willing to pour on cooling waters to extinguish the ravaging flames. The presumed wise ones demand an incendiary response: only fools would call for peace. So let us be fools.

domain: politics


text:
As you know, when I'm bored with my homework, I will start cutting things.. and yesterday, I cut 'Yono'... eh salah, I cut fabric to look like 'Yono' the monster.. then I implement it to something better.. So, here I introduce you... jeng je jeng...
A simple sleeve made out of jeans and decorated with felt (just one side) to complete your style. This bag close with button and fully lining with cotton and span inside. Would make a perfect size to carry your lovely lappy, trust me :)
Price: RM 69 sahaja + RM 6 (poslaju)
To have him, please email me at email@example.com ^_^
Happy viewing~~~ d[^_^]b

domain: artistic


As you probably know, many members of The Outline staff are huge Westworld fans. Well, at the very least, many members of the staff spent an enormous amount of time debating the nature of our reality and also whether or not the show was any good. We even took that conversation to our podcast, Out West, which dealt with fan theories (and our theories) every week while the show was airing.
During the time we were recording the podcast, one of the editors here began a project in secret that would become something of a legend internally: a completely chronological re-edit of the whole show, based on the timeline which was eventually revealed in the final episodes. That’s right, a very troubled member of the staff (we're getting him help) recut 10 hours of content into one continuous, rearranged masterpiece (we removed intros and credits for the sake of time). So we thought we’d share it with you — or at least, share a remotely digestible version. What you see below is the full cut, with the “normal” parts of Westworld sped up... because honestly who has another 10 hours of their lives to spare? Enjoy.
CAUTION: extreme spoilers below.
Enjoyed the video? We have a podcast, Out West, that breaks down your fan theories. Listen to the latest episode below or in your favorite app.


PERSON OF THE YEAR
JOE BIDEN AND
BY CHARLOTTE ALTER
To get past the stage-door entrance of the Queen theater, you need a negative COVID-19 test and a particular type of N95 mask. You have to promise not to eat or drink inside, and answer a questionnaire about your recent whereabouts, and then comes the Secret Service protocol (the sweep, the wands). Once you’re in, the floors normally sticky with spilled drinks are instead dotted with distance-marking tape for reasons that are obvious: this is where President-elect Joe Biden is basing his transition, and President-elect Biden takes COVID-19 very, very seriously.
“They told me we were gonna lose the campaign because of all this, remember?” Biden says in a Dec. 7 interview, gesturing at the precautions from a brown leather chair in a room above the stage. But “the good news,” Biden smiles, is he and his team “didn’t listen to anybody.” Like all such venues these days, the historic Wilmington, Del., playhouse is silent and empty. Instead of concerts, its fading green-and-red murals look down on a new production that’s opened out of town: a semicircle of blue-draped tables surrounding a lectern before a screen projecting the seal of the President-elect of the United States. Upstairs, Biden keeps a 16-ft. distance from everyone as he makes final preparations to take on the role of a lifetime.
Portrait by Jason Seiler for TIME
As Biden sees it, trusting his instincts and tuning out the naysayers is a big reason why he’s going to be the next Commander in Chief. They said he was too old, too unsteady, too boring. That his pledge to restore the “soul of the nation” felt like antiquated hokum at a moment when Hurricane Trump was tearing through America, ripping through institutions, chewing up norms and spitting them out. “I got widely criticized,” Biden recalls, for “saying that we had to not greet Trump with a clenched fist but with more of an open hand. That we weren’t going to respond to hate with hate.” To him, it wasn’t about fighting Trump with righteous vengeance, or probing any deeper rot that might have contributed to his ascent. Biden believed most voters simply wanted reconciliation after four years of combat, that they craved decency, dignity, experience and competence. “What I got most criticized for was, I said we had to unite America,” he says. “I never came off that message.” Biden had the vision
, set the tone and topped the ticket. But he also recognized what he could not offer on his own, what a 78-year-old white man could never provide: generational change, a fresh perspective, and an embodiment of America’s diversity. For that, he needed Kamala Harris
: California Senator, former district attorney and state attorney general, a biracial child of immigrants whose charisma and tough questioning of Trump Administration officials electrified millions of Democrats. The Vice President
has never before been a woman, or Black, or Asian American
. “I will be the first, but I will not be the last,” Harris says in a separate interview. “That’s about legacy, that’s about creating a pathway, that’s about leaving the door more open than it was when you walked in.”
The Democratic ticket was an unlikely partnership: forged in conflict and fused over Zoom, divided by generation, race and gender. They come from different coasts, different ideologies, different Americas. But they also have much in common, says Biden: working-class backgrounds, blended families, shared values. “We could have been raised by the same mother,” he says. In an age of tribalism, the union aims to demonstrate that differences don’t have to be divides.
No one knows the nature of this type of partnership better than Biden, who lived for eight years in the house Harris is about to move into. He has made the same commitment to her that he extracted from Barack Obama: that the VP will be the last person in the room after meetings, consulted on all big decisions. The two communicate every day, by telephone or text message, and Harris has offered welcome advice on Cabinet selections. “The way that he refers to himself and her when he speaks, he’s already making his biggest decisions with her at [his] side,” says Maya Harris, Kamala’s sister and closest confidant. Picking her as running mate “obviously has historic significance,” she says, “but clearly it’s been a choice that’s not about symbolism. It’s substantive.”
Together, they offered restoration and renewal in a single ticket. And America bought what they were selling: after the highest turnout in a century
, they racked up 81 million votes and counting, the most in presidential history, topping Trump by some 7 million votes and flipping five battleground states.
Biden and Harris onstage in Wilmington, Del., at the end of the Democratic National Convention, which was held virtually because of the pandemic.Olivier Douliery—AFP/Getty Images
Defeating the Minotaur was one thing; finding the way out of the labyrinth is another. A dark winter has descended, and there will be no rest for the victors. Trump is waging information warfare against his own people, the first President in history to openly subvert the peaceful transfer of power
. The country has reached a grim new milestone: more than 3,000 COVID-19 deaths in one day
. Millions of children are falling behind in their education; millions of parents are out of work. There is not only a COVID-19 crisis
and an economic crisis
to solve, but also “a long overdue reckoning on racial injustice and a climate crisis,” Harris says. “We have to be able to multitask.”
Given the scale and array of America’s problems, the question may not be whether this team can solve them but whether anyone could. U.S. politics has become a hellscape of intractable polarization, plagued by disinformation and mass delusion. Polling shows three-quarters of Trump voters wrongly believe the election was tainted by fraud. After four years of a White House that acted as a celebrity-driven rage machine, it seems naive to think of the presidency as an engine of progress.
So while Biden will be the 46th man to serve as President, he may be the first since Lincoln to inherit a Republic that is questioning the viability of its union. “This moment was one of those do-or-die moments,” Biden says. “Had Trump won, I think we would have changed the nature of who we are as a country for a long time.” Yet Trump, many experts argue, is not the aberration Biden describes but rather a symptom of America’s chronic conditions: a legacy of racism and widening inequality that undermines both its ideals and its functioning.
Biden and Harris share a faith that empathetic governance can restore the solidarity we’ve lost. Biden told TIME he has lately been reading about Franklin D. Roosevelt’s
first 100 days, when FDR worked to pull the nation out of the Great Depression, a feat that helped restore confidence in democracy. “We’re the only country in the world that has come out of every crisis stronger than we went into the crisis,” he insists. “I predict we will come out of this crisis stronger than when we went in.” Their challenge is, above all, not about any one policy, proposal or piece of legislation. It is convincing America that a future exists, for all of us, together. It is nothing less than reconciling America with itself.
They are partners now, but they were rivals once. When the Democratic primary candidates met for their first debate in June 2019, Biden was the front runner, though he didn’t look much like one. His organization was rickety, his speeches baggy, his message seemingly out of step with the party’s mood. Harris looked equally lost, stagnant in the polls and shuffling campaign messages. After launching her campaign with fanfare—20,000 people turned out to her kickoff rally in Oakland, Calif.—she struggled to find her footing
in a crowded field.
On a hot night in Miami, the Democrats’ past and future collided. Advisers had warned Biden that rivals would target his sepia-toned musings about compromises struck in Senate cloakrooms. But he wasn’t ready for Harris’ attack. “As the only Black person on this stage, I would like to speak on the issue of race,” she said, turning to address Biden. She told him it was “hurtful” to hear him praise segregationist Senators who had been his colleagues. “Not only that, but you also worked with them to oppose busing,” she continued. “There was a little girl in California who was part of the second class to integrate her public schools, and she was bused to school every day. And that little girl was me.” To Harris’ supporters and many more African Americans, the moment was a battle cry. Biden backers saw an ambush: within hours, her campaign had designed T-shirts with Harris’ childhood picture above those words.
Biden campaigns in New Hampshire on Feb. 9; his fifth-place finish in the primary was a low point, 18 days before his win in South CarolinaTony Luong for TIME
In fact, the issue was more complex than it seemed. In the 1970s, Biden opposed federally mandated busing, not voluntary programs like the one Harris had participated in in Berkeley. Nor did Harris believe a federal mandate was necessary; her own stance was nearly identical to Biden’s. But to many Americans, it was powerful to see the only Black candidate onstage discuss sensitive policy through the prism of her lived experience. There was neither mystery nor malice to the confrontation. Harris was searching for momentum, and Biden was the primary’s piñata; to many, it seemed inevitable that he would fade, and whoever took him down might inherit the favor of the Democratic establishment.
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But Biden was taken aback. Harris had been close with his son Beau while they both served as attorneys general of their states. Despite criticism of his involvement with regressive criminal-justice policy in the 1990s, Biden’s longtime advocacy for civil rights was a point of personal pride and had helped earn him the loyalty of many Black voters. While Biden did not hold a grudge, advisers say, his family, particularly his wife Jill Biden, was upset. Today, she concedes the exchange was a “surprise” because of Harris’ friendship with Beau, who died of brain cancer in 2015, but noted others on the debate stage criticized Biden as well. “This is a marriage, and I feel very protective of my husband and my children, as is any mother,” she tells TIME. “You move beyond it—that’s politics.”
Whatever boost Harris got in the primary was short-lived. She ran low on cash, sank in the polls and dropped out of the race in December. Biden seemed not far behind, limping to a fourth-place finish in Iowa and slipping to fifth in New Hampshire. That was the “lowest point,” Jill Biden recalls. “I had a feeling we weren’t going to win, but I didn’t think we would come in fifth. Nor did Joe.”
Harris stops for lunch in Waterloo, Iowa, in September 2019; she abandoned her presidential bid less than three months laterSeptember Dawn Bottoms for TIME
Biden had always believed his support among Black voters would buoy his campaign in the Feb. 29 South Carolina primary. After a key endorsement from House majority whip Jim Clyburn, he won by nearly 30 points, establishing himself as the most credible alternative to Senator Bernie Sanders, who had been threatening to run away with the race. Fearful that a Sanders nomination would mean a second term for Trump, Biden’s moderate rivals Pete Buttigieg and Amy Klobuchar dropped out and endorsed him. Soon after, Biden cleaned up on Super Tuesday, winning 10 of 14 states and effectively clinching the contest. Harris endorsed Biden the next weekend, the 55th anniversary of Bloody Sunday, just before walking across the Edmund Pettus Bridge in Selma, Ala., with Representative John Lewis.
Biden felt vindicated. Progressives had insisted the party was in a revolutionary mood; instead, voters chose Biden’s pragmatism. Doubters predicted Biden’s record on race would haunt him; instead, he had Black voters to thank for reviving his campaign. Critics had lampooned “unity” as boring pabulum; instead, it seemed to resonate. “I was able to, against advice from a lot of people, do the things that I was told were gonna hurt me politically,” Biden says. “But I would argue that it turned out that that’s what the American people were looking for: they’re looking for some honesty, decency, respect, unity.”
Just as he found his footing, the ground shifted beneath his feet. By March 10, it was clear that the corona-virus would make it impossible to run a traditional campaign. “It was the culmination of all of the work that we’ve done for a year,” says Biden’s deputy campaign manager and incoming White House communications director Kate Bedingfield. “And we were having to think about, How are we going to reinvent campaigning in the general election?”
Biden canceled a planned rally in Ohio and returned to Philadelphia to speak to the whole staff in person for the last time. The campaign headquarters emptied out; the team retreated to their couches, where they marshaled volunteers online and tried to build camaraderie over Signal and Zoom. Biden himself retreated down the winding driveway to his 7,000-sq.-ft. home in Greenville, Del., past poplars, beech and oak trees, to his book-filled study overlooking a lake, where he would spend much of the next eight months.
Campaigns are fueled by excitement; Biden didn’t seem to have it. The situation had its advantages: being homebound disciplined a gaffe-prone candidate, and his themes of empathy and compassion resonated amid the ravages of COVID-19. But running for President online also neutralized Biden’s ability to connect with ordinary people through hugs and handshakes. The candidate’s lack of visibility meant picking a running mate would be one of his few big turns in the spotlight, and a more momentous decision than usual.
President-elect Joe Biden photographed in Wilmington, Del., on Dec. 7Camila Falquez for TIME
Biden was looking for his own Biden: someone reliable, simpatico and loyal, as he was to Obama. But he wanted more than compatibility. The septuagenarian nominee needed a youthful governing partner who was prepared to step in as Commander in Chief if needed, and a battle-tested running mate who would not create distractions and could keep the race focused on Trump. As an old white man leading a party reliant on voters of color, young people and women, Biden also needed to balance the ticket. In March, he had promised to pick a female Vice President; over the summer, the racial-justice protests that erupted after George Floyd’s killing increased pressure to choose a Black woman.Biden’s selection committee, augmented by a team of vetting lawyers, initially interviewed nearly two dozen women, before whittling the list down to 11 people for Biden to interview. After Floyd’s death put racial justice front and center, Harris stood out in her conversations with the committee, discussing criminal-justice legislation she was leading in the Senate and her work on similar issues as attorney general. “She also brought a lived experience as a Black woman,” says Representative Lisa Blunt Rochester, who served as co-chair of the vetting committee. “She could talk from the perspective of her professional life as well as her personal life, and what we could and should do in the wake of his tragic murder.”
At 55, Harris was a generation Biden’s junior. She had experience in federal and state office, and had weathered the scrutiny that comes with running for President, even if her campaign didn’t succeed. She was a versatile politician, moving deftly from dissecting witnesses in hearings to dancing in drum lines. No major factions in the party opposed her, and most Democrats thrilled to the idea of putting the first woman of color on a major presidential ticket. But Biden, the connection candidate, didn’t just see a symbol or an appeal to a particular demographic; he perceived an ability, rooted in her upbringing, to see a better future for Americans like herself. “Her superpower is her multiple identities,” says Glynda Carr, CEO of Higher Heights, a political action committee that helps Black women run for office.
Some Biden allies remained wary of Harris. His family was the hardest sell. But Biden insisted he harbored no hard feelings from the debate skirmish. “He made it very clear that he was a big boy and wasn’t going to let that color him,” says Clyburn, who urged Biden to pick a Black woman and told him that many people, including Clyburn’s own late wife, had rooted for a Biden-Harris ticket from the start. Once Biden decided Harris was the best pick, the rest of the inner circle got behind the decision. Jill Biden was the one who called the vetting committee to inform them of the choice. “At the end of the day, it was his decision, and one that he made essentially alone,” Bedingfield says.
Vice President–elect Kamala Harris photographed in Wilmington, Del., on Dec. 7Camila Falquez for TIME
Harris was in her apartment in Washington’s West End neighborhood when her team learned that Biden wanted to reach her. She started getting ready to take the call. Then, an update: Biden wanted to talk over Zoom. A brief panic ensued as she scrambled to get herself video-ready. It “wasn’t actually one of my Zoom days,” she says. “That required a whole preparation process to be Zoom-ready for the Vice President.”
Biden cut to the chase. “Immediately he said, ‘So, you want to do this?’” Harris recalls, paraphrasing their conversation. “That’s who Joe is. There’s no pomp and circumstance with him. He’s a straight shooter.” Her husband Doug Emhoff and Jill Biden soon joined them on the call; within an hour, her apartment filled with campaign staffers carrying briefing binders. The next day, she was in Wilmington, where Jill greeted them with a plate of homemade cookies. To join the Biden campaign was to join the Biden family, and Harris and Emhoff spent about a week visiting with the Bidens and getting to know their kids, while Biden talked over the phone with Harris’ mother-in-law and her adult step-children, Cole and Ella. Harris’ relationship with Emhoff’s kids, who call her Momala, reminded Biden of his own wife’s relationship with his sons Beau and Hunter: a “blended family,” he calls it, where there’s “no distinction in their house.”
Picking a former rival—one whose dynamism might exceed his own—was a move that Trump never would have made. It “revealed a lot about Joe Biden,” says former Representative Steve Israel. “And she had the pronounced effect of mobilizing Democrats across the country.”
Joseph Robinette Biden Jr. has wanted to be President ever since he was a little boy with a mouth full of pebbles, reciting poetry to try to cure himself of his stutter. When his future mother-in-law asked what he planned to make of himself, Biden said “President,” adding, “of the United States.” Before she died in a car accident in 1972, his first wife Neilia told friends her husband would run the country one day; many years later, when Biden was in the twilight of his vice presidency, his son Beau, racked with terminal cancer and beginning to lose his speech, begged him not to abandon public life. He’s run for the Oval Office three times, worked with eight Presidents and served as Vice President for eight years in a career that stretched from the Senate to the Situation Room to countless swing-state diners and union halls. His operatic life story has veered from grief to triumph, rising star to tragic figure, statesman to survivor.
Biden’s American Dream began in the rosy aftermath of World War II, when America was flush with pride from its triumph over fascism. It was a Rockwell upbringing—football games, soda-pop shops—but it wasn’t always easy. At times money was tight; when Joe was 10, the family had to move in with his grandparents before his father found a job selling used cars. Although popular and outgoing, Biden was afflicted with a persistent stutter, which instilled in him a lifelong hatred of bullies and a belief that even the most stubborn obstacles could be overcome. “My mother’d say, ‘Joey, remember, the greatest virtue of all is courage,’” Biden recalls. “Without it you couldn’t love with abandon. And all other virtues depend on it.”
While other teenagers marched against the Vietnam War, Biden glad-handed around the University of Delaware in a sport coat. He was never the best student or hardest worker, but his charm and talent carried him through law school, a brief stint as a public defender and a seat on the New Castle County council. In 1972, as Harris was being bused to third grade, Biden mounted a long-shot bid for Senate. He courted comparisons to John F. Kennedy: a young, ambitious candidate with a big Irish-Catholic family, a photogenic wife and adorable kids, and a message about bringing a new generation to power. Congress had recently lowered the voting age from 21 to 18, and Biden’s sister Valerie, then as now his closest political adviser, organized a brigade of high schoolers to knock on thousands of doors, lifting the 29-year-old to victory over a two-term incumbent.
Just weeks later, the car carrying Biden’s wife and children on a Christmas shopping excursion was broadsided by a truck. Neilia and their 13-month-old daughter Naomi were killed. Biden’s two sons were badly injured. He came close to quitting the Senate before he was sworn in. “His grief makes him human,” says Moe Vela, a former senior adviser. “And he understands that shared humanity, that shared vulnerability, allows him to connect.”
From left: Biden and Jill, his future wife, met in 1975; Harris with her younger sister Maya and mother Shyamala Gopalan in 1968Courtesy Jill Biden; Courtesy Kamala Harris
As a Senator, Biden was rarely behind the times, but rarely ahead of them either. As Judiciary Committee chair, he oversaw the hearings into Anita Hill’s sexual harassment allegations against Supreme Court nominee Clarence Thomas, enraging many for not including public testimony by additional witnesses who could testify to Thomas’ pattern of behavior and for allowing the all-white, all-male committee to bully Hill. He championed the 1994 crime bill, which included both tough new sentencing laws and the Violence Against Women Act. He voted for the Defense of Marriage Act, which defined marriage as between a man and a woman, then, nearly two decades later, upstaged Obama by embracing same-sex marriage before the President did. He was a politician who followed public opinion but did not guide it, an institutionalist who believed in the moderating influence of the Senate almost as much as he believed in his own policy preferences.
He carried that disposition into the vice presidency. Once, when Vela was flying to Chile with Biden on Air Force Two, the aide complained in personal terms about a Republican Senator who was blocking an Obama proposal. Biden grabbed Vela’s left forearm with his right hand, as Vela recalls it, and said, “Moe, you’re wrong. That’s my friend. We might not agree every time on how to make America better, but we both agree that we want to make America better.” Biden advised younger politicians to criticize their rivals’ policies without impugning them personally. “Once you start attacking people’s character and their motivations, you prevent them from ever being able to get over the policy disagreement you had, and you lose them as someone you can potentially work with,” explains Delaware Senator Chris Coons, a Biden protégé.
Biden went out of his way to help Republicans
where he could, once flying to Moscow and back in a single day to join a GOP colleague for a presentation on nuclear weapons. “Joe has a good heart,” says former Republican Senator John Danforth. “He’s got the temperament and the background to reach out and to work with all kinds of people to make government work again.”
Most of all, Biden became famous for his empathy. The stories are legion: how he hugged a grieving child; called a grandmother on the day her grandson was sworn into the Senate; reached out after a car accident, a cancer diagnosis, a death in the family. One former adviser recalled how Biden held up his entourage on the way out of the Executive Office Building to offer heartfelt thanks to a janitor for mopping a spill; another recalls he and Jill always sent food to the drivers waiting for them outside. During a photo shoot for this story, Biden asked the photographer, Camila Falquez, to FaceTime her parents. “Hola, Mami!” Falquez said as they came on the screen. “Hey, Dad, how are you?” Biden interjected, briefly pulling down his mask so the pair could see his face. “You guys have a wonderful daughter.”
Although Obama picked him in part because he believed Biden had put his presidential ambitions behind him, Biden toyed with running in 2016. He ultimately decided he wasn’t up to it in the wake of Beau’s death. But in 2017, when white supremacists marched in Charlottesville, Va., he decided he had to get back in the game. “He could not have lived with himself if he hadn’t run after Charlottesville,” says Biden’s longtime adviser Ted Kaufman, who is heading the presidential transition. “If he didn’t run and Trump won, he would have spent the rest of his life feeling he could have beaten Trump.”
As Biden was muscling his way through public-speaking requirements at Archmere Academy near Wilmington, in 1958, 19-year-old Shyamala Gopalan arrived in Berkeley to pursue a doctorate in nutrition and endocrinology. She soon realized that she had swapped one caste system for another. While her Tamil Brahman heritage signified her elite status in India, the U.S. was segmented along racial lines. -Gopalan joined a Black study group whose discussions on race helped inform the intellectual underpinnings of the Black Power movement. Malcolm X, Che Guevara and Fidel Castro were considered heroes, one of the group’s leaders, Aubrey LaBrie, told TIME last year. It was there that Gopalan met a Jamaican economics student named Donald Harris. They had two daughters, Kamala and Maya, before divorcing when Kamala was 7.
If Biden grew up in an age of American ascendance, Harris came of age in a nation confronting its legacy of injustice. Her parents took her to civil rights marches in a stroller. After their divorce, Kamala and Maya attended an after-school program decorated with images of Harriet Tubman and Sojourner Truth. Harris has recalled learning about George Washington Carver before she learned about George Washington. In 1970, when she started first grade in Berkeley, Kamala was in one of the first groups of students to be bused to a mostly white school across town in an early local experiment in integration. “Mommy had great expectations for us, but she had even greater expectations of us,” Maya Harris says. “And that sense of responsibility and duty that our mother instilled in us, to leave this world more fair and more just for more people than when we entered it, that sense of responsibility and duty has guided her throughout her life.”
Harris campaigns in McAllen, Texas, on Oct. 30, part of a late play to win the Lone Star State that fell shortSergio Flores—Bloomberg/Getty Images
Although she grew up among activists and organizers, Kamala Harris wanted to make change by working within the system, not outside of it. At nearly every station in her career, she broke a barrier. In 2004, she was elected San Francisco DA; six years later, she was elected attorney general of California. The balance between “progressive prosecutor” and “top cop” was a delicate one. She implemented new programs for young nonviolent offenders, yet began enforcing truancy laws by threatening parents with fines if their kids missed school. Even in the 2020 campaign, Harris seemed to be juggling allegiances, down to her campaign slogan, “For the People,” intended to evoke her prosecutorial roots while blurring their controversial connotations.
Like Biden, she had a knack for sensing where the political wind was blowing and sometimes disappointed liberal activists. She sought to uphold questionable convictions, declined to support legislation to reduce low-level felonies to misdemeanors and tried to reinstate the death penalty, even though she claimed to oppose it. At the same time, she earned accolades on the left for taking on oil companies, for-profit colleges and predatory mortgage lenders, and for refusing to defend California’s ban on gay marriage. As a newly minted attorney general in 2011, she pulled out of a national mortgage-foreclosure settlement with five big banks when she felt the approximately $2 billion allotted for California didn’t give her constituents adequate restitution. Ultimately she procured a $20 billion settlement. “The fact that she was an AG and had her fingers on every aspect of governance in California will help her in every role she takes in the federal government,” says Doug Gansler, a former Maryland attorney general who served with her during this time.
Harris arrived in the Senate in 2017, the first Indian American in its history. Already a political celebrity, she impressed colleagues as much with her infectious laugh as with her ruthless probing of witnesses. Then–Attorney General Jeff Sessions complained that her rapid-fire questions made him “nervous”; she reduced the current Attorney General, Bill Barr, to stammering when she asked if the White House had ever asked his Justice Department to investigate anyone. In September 2018, her calm but pointed grilling of Supreme Court nominee Brett Kavanaugh went viral
, enhancing her reputation on the left.
Harris played an integral role in that year’s bipartisan criminal-justice legislation and co-sponsored the liberal Green New Deal
. Though she built a reputation as a serious policymaker, she never carved out a signature issue and seemed to elude ideological definition. She spent just two years in the Senate before launching her bid for President.
After clinching the nomination,
Biden set to uniting his party. He won Sanders’ endorsement, solicited advice from Senator Elizabeth Warren and invited well-known progressives to offer policy ideas. “Biden’s ability to hold the party together can’t be overstated,” says veteran Democratic admaker Jim Margolis, who worked for Harris during the primary. “That was an impossible task for Hillary Clinton in 2016. In 2020, it was the name of the game.”
Biden’s political instincts were tested over and over, starting with the summer’s racial-justice protests
. Trump was using images of urban riots to associate his rivals with chaos and lawlessness, even embracing vigilantes and far-right militias as symbols of a racist pro-police “law and order” message. Neither Biden nor Harris had been the first choice of racial-justice organizers. To some activists on the left, the idea of reconciliation smacked of weakness. “You call it unity, I call it capitulation,” says Alicia Garza, co-founder of Black Lives Matter and principal at the Black Futures Lab.
Biden sought a middle course. He knelt alongside activists, proposed substantive reforms to address structural racism and embraced the Black Lives Matter
mantra. But he rejected calls to “defund the police” and denounced violence and the destruction of property. “I was cautioned by some really smart people. You know, ‘Don’t go out and talk about racial inequity,” Biden says. “‘Don’t mention it because you’re gonna lose the suburbs.’” He ignored them, believing the country had changed since President Richard Nixon’s coded appeals to the racial consciousness of the “silent majority.” “I think the American people are better and more decent than that,” Biden says.
To knock off an incumbent President for just the 10th time in American history, Biden and Harris had to revive the party’s fading strength with white voters without college degrees; energize its emerging base of diverse, urban young voters; and motivate the hordes of angry suburbanites, particularly college graduates and women, who had fled the Trump-era GOP. None of these constituencies would be enough to carry the Electoral College on its own, and leaning too far into any one of them risked alienating another.
A masked Biden speaks to supporters in Philadelphia on Election DayDrew Angerer—Getty Images
Biden was perhaps the only Democratic candidate who could claw back some of the party’s lost ground with the culturally conservative white voters who dominate the swing states of the Rust Belt. Harris, meanwhile, brought a cultural competency that attracted the next generation of Democrats, right down to her footwear. When she stepped out of a plane in Chuck Taylor sneakers, many voters saw a politician who had literally walked miles in their shoes. Harris’ candidacy was especially meaningful to the Black women who form the backbone of the Democratic Party, and whose turnout was critical in flipping key states. “The electorate is continuing to change, and that demographic change is the story of this election,” says Henry Fernandez, CEO of the African American Research Collaborative. “It’s reflected in Kamala Harris.”
On election night, Biden was at home in Wilmington; 13 members of his family had individually quarantined beforehand in order to watch the returns come in together. Campaign staff gathered in front of a huge screen at the Chase Center nearby. Advisers downplayed the chance of a quick victory. Still, some Democrats panicked early in the night, fearing Trump’s strength in Florida foreshadowed a repeat of 2016. Biden allies reassured supporters that mail ballots would ultimately erase Trump’s lead, but many were anxious. “I sure went to bed depressed,” says longtime donor John Morgan.
Most of the Biden brain trust didn’t go to bed at all. Every hour or two, they were briefed by the campaign’s analytics director, Becca Siegel, who assured them Biden was getting the numbers he needed. “The mood was not dire or panicky,” says Bedingfield. “It was more like the agony of waiting and waiting for something that you know is coming.” For the next four days, the Bidens were “like every other family in America: we were glued to the TV,” Jill Biden recalls.
When the networks finally called the race on Nov. 7, Joe and Jill were away from the television, sitting on lawn chairs in the backyard. All of a sudden loud cheers broke the silence, and their grandchildren came running, shouting, “Pop won!” Once inside, Biden’s first call was to Harris.
Harris saw the news after coming back from a run in Delaware. She rushed back outside to find Emhoff to tell him, and that’s when she got the call from the President-elect. As the streets erupted in celebration, her sister Maya came over for a lunch of bagels and lox, with a plate of bacon to share. For millions across America, it was the dawn of a new era after four years of vexation and strife; for the sisters, watching footage of revelers gathering in front of the little yellow apartment in Berkeley where they grew up, it was as if time had stopped. “We kind of had this brief moment where everything was bursting all around us, but we could just sit for a bit and take it all in before plunging into what was about to become this imminent new, big reality,” Maya says.
Even now, friends say, that reality hasn’t quite sunk in. Harris’ longtime adviser Minyon Moore says she keeps asking: “Do you know you’re the Vice President yet?” And Harris replies, “No, not really, but I’m trying.”
All new Presidents inherit messes from their predecessors, but Biden is the first to have to think about literally decontaminating the White House. Combatting the pandemic
is only the start of the challenge, at home and abroad. There are alliances to rebuild, a stimulus package to pass, a government to staff. Biden’s advisers are preparing a slew of Executive Orders: restoring the Deferred Action for Childhood Arrivals immigration program, rejoining the Paris Agreement, reversing the so-called Muslim ban and more. Biden’s “Build Back Better” plan aims to revitalize the virus-wracked economy—which some analysts say is unlikely to fully recover until 2023—by investing in infrastructure, education and childcare. “I think if my plan is able to be implemented,” Biden says, “it’s gonna go down as one of the most progressive Administrations in American history.”
Much of what Biden hopes to do, from Cabinet appointments to legislation, will have to pass a more divided Senate than the one he left a dozen years ago. If Republicans win at least one of Georgia’s two Senate seats in Jan. 5 runoffs, the fate of his agenda will be in the hands of Republican majority leader Mitch McConnell, who, like most GOP members of Congress, has refused even to acknowledge his victory. Biden’s relationships and peace offerings may not be worth much in this climate, says his friend William Cohen, a former GOP Senator. Republicans “will be watching not him but Donald Trump, and acting just as much out of fear of [Trump] in the future as they have in the past.” As in the campaign, the GOP is likely to amplify controversy surrounding Biden’s son Hunter, who on Dec. 9 released a statement acknowledging his tax affairs are under investigation by the U.S. Attorney’s office in Delaware.
Harris and Biden at a high school in Wilmington, Del., on Aug. 12Carolyn Kaster—AP
For now, Biden and Harris are busy building a team in a well-ordered sequence, starting with senior White House staff and progressing through clusters of appointments—first foreign policy, then economic officials, then health advisers, and so on. The Biden-Harris Administration is on track to be one of the most diverse in the nation’s history, though it doesn’t go far enough for some. Their relationship has continued to deepen. “The thing that I love that I’ve observed: it’s not stiff, it’s natural,” Jill Biden says. “They’re friends already, and the trust can only continue to grow.” Biden’s big jobs as Vice President—from selling the Recovery Act to negotiating budget deals with McConnell—tended to land in his lap, and he expects it will be similar for Harris, who has not yet announced a dedicated portfolio. To millions, the symbolism of Harris’ role is nearly as important as the substance. “What she’s projecting is America—it has risen just one more time,” Moore says.
Even if Trump still captivates a broad swath of the country, the President-elect believes the rancor will fade as Trump exits stage right. The next few months will be “letting the air out of the balloon,” says Biden. “I think you’re gonna see a lot more cooperation than anybody thinks.” Until then, he and Harris are polishing their scripts and rehearsing their lines inside the Queen. They have just six weeks to prepare. On Jan. 20, the lights will come up, and the show will go on. —With reporting by Alana Abramson, Brian Bennett, Vera Bergengruen, Madeleine Carlisle, Leslie Dickstein, Alejandro de la Garza, Simmone Shah, Lissandra Villa, Olivia B. Waxman and Julia Zorthian
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Coming Soon... Dallas Chocolate Festival
The Dallas Chocolate Festival 2023 is scheduled for September 8 - 10 at the Fashion Industry Gallery in Dallas, TX.
This wonderful annual event is hailed as a one-of-a-kind experience for chocolate lovers to taste, buy, and learn more about the delicate craft of producing confections and chocolate made from the bean.
Many exhibitors are located in the state of Texas but every year, this festival attracts talent from abroad as well, sometime even out of the country!
Fashion Industry Gallery 1807 Ross Ave, Dallas, TX 75201, USA
September 8th (7 pm to 10 pm) - VIP NIGHT
September 9th (10 am to 5 pm) - Main Event
September 10th (11 am to 3 pm) - Main Event
The Dallas Chocolate Festival has provided over $20,000 in scholarships to local culinary programs since its inception in 2009, and continues to inspire and promote the art of chocolate. If you love fine chocolate, this is a superb event to sample chocolate from numerous producers and visit one-on-one with them about their story and chocolate learning jouney.


Yorkshire Ambulance service workers have voted to strike on the fifth and sixth of July - the weekend of the Tour De France. Four hundred members of the Unite union are embroiled in a long-running dispute over new working conditions and meal breaks.
The union says it has very real concerns about patient and staff safety and has denied that taking industrial action next weekend is a cynical ploy.
More top news
The 28-year-old's activities were first logged by Canadian authorities after he shared images via social media.
Katie and Ryan Barrett are trying to raise £100,000 to fund experimental brain tumour treatment for their five-year-old twin son Zack.


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September 6 - 9, 2018
If flying, you'll be flying into the Denver International Airport (DIA).
DIA is located approximately 55 miles east of Black Hawk, unfortunately there are no public transportation options.
For more information about the Denver International Airport, click here:
We recommend renting a car and splitting the costs, Black Hawk is about an hour west of Denver. If you go through Priceline.com, car costs are minimal.
You'll Never Bead the Same!
Ameristar - Black Hawk
111 Richman Street, Black Hawk, CO 80422
Ameristar Casino Resort Spa Black Hawk is now rated among the nation's elite lodging facilities and earned the prestigious American Automobile Association Four Diamond designation.
Ameristar's 536 luxurious guest rooms, including 64 suites, are comfortable and versatile with oversized bathtubs and panoramic views of the Rocky Mountains. Tastefully appointed and furnished, every room contains luxury amenities and features to exceed the most discerning guests' expectations. An on-site Fitness Center, roof-top pool and the 7,000-square-foot ARA Spa will complete your overnight experience.
Ameristar has offered attendees of the CBR a discounted rate of $109 per night Sunday through Thursday nights and $179 for Friday and Saturday nights (single or double occupancy - For a Thursday - Sunday stay, the average nightly rate is $144 plus tax). Choose between two Queen or one King bed(s) at registration. All hotel reservations will be completed by CBR staff.
For more information about our retreat hotel please click here:
Black Hawk, CO
This tiny city is a historic mining settlement founded in 1859 during the Pike's Peak Gold Rush. Black Hawk is located adjacent to Central City, another historic settlement in Gregory Gulch. The two cities form the federally designated Central City/Black Hawk National Historic District. The area flourished during the mining boom of the late 19th century following the construction of mills and a railroad link to Golden. You can catch a free local shuttle from the hotel to Central City.
For more information about what the Black Hawk area has to offer click here:
Black Hawk sits at 8537 feet above sea level (slightly higher than our previous location in Nederland). Follow these tips to ensure you have the most enjoyable time at altitude:
Hotel and Travel
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|Distance||29 miles (46 km)|
|Average coach duration||55 min|
|Average coach ticket price||£7 (€8)|
|Coach companies||National Express|
Coaches from Northampton to Coventry cover the 29 miles (46 km) long journey taking on average 55 min with our travel partners like National Express. There are direct coach services available. While the average ticket price for this route costs around £7, you can find the cheapest coach ticket for as low as £7. Travellers depart most frequently from Northampton and arrive in Coventry, Transport Museum (HS1).
For as little as £7 you can travel by coach from Northampton to Coventry with National Express. Omio will show you the best deals, timetables and tickets available for this route.
If you’re thinking of taking a coach from Northampton to Coventry, you can enjoy a comfortable journey at a budget-friendly price with National Express. National Express is the UK’s leading long-distance coach company offering hundreds of routes to towns and cities across the UK, including routes to and from major airports like Heathrow, Gatwick, Stansted, Luton and Bristol. On a National Express coach, you can expect to travel 29 miles (46 km) from Northampton to Coventry and pay as low as £7 if you book in advance.
All National Express coaches have air conditioning and provide free WiFi access along with onboard entertainment. Most coaches come with seat belts and power outlets at every seat, so you can charge your phone or laptop during a long journey. For your coach between Northampton and Coventry, you can select from three ticket fares: Restricted Fare, Standard Fare, and Fully Flexible Fare. Check the National Express coach timetable between Northampton and Coventry, select your preferred ticket type, and book your cheap coach tickets on Omio today!
National Express has updated its ticket policies due to the coronavirus. Keep these in mind when booking your National Express tickets between Northampton and Coventry and when travelling by coach:
There are a few coach stations in Northampton to start your trip from including Northampton, Saxon Avenue / Wake Way (Grange Park), Northampton, North Gate Bus Station and Northampton, Far Cotton. In Coventry you have a few coach station options to choose from for your arrival including Coventry, Transport Museum (HS1), Coventry, Pool Meadow Bus Station (stand P) and Coventry, Tesco Extra.
Omio customers travelling this route depart most frequently from Northampton and arrive in Coventry, Transport Museum (HS1).
Passengers booking this journey most frequently board their coaches from Northampton and need to travel around 1 mile (s) / 2 km from the city centre to get to this coach station.
Passengers arriving in Coventry most often arrive at Coventry, Transport Museum (HS1) and need to travel around 0 mile (s) / 0 km from this coach station to the city centre.
Here are some other resources that might have the information you need

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Capita Asset Services: NAMA win builds Irish presence
Capita Asset Services looks set to become a powerhouse in the Irish market, having spent part of last year integrating 120 staff – 100 in Ireland and most of them previously with IBRC – and taking over IBRC offices in Dublin and Belfast. It now has over 250 middle and back-office staff there and competes locally only with Certus, which mainly provides servicing to Bank of Scotland Ireland, part of Lloyds Banking Group.
Europe’s largest independent loan servicer won a mandate to take over the primary servicing of €41bn of NAMA loans from IBRC, adding to its €72bn master servicing role – a process completed by August. “Adding that to our capabilities is a very significant commitment from Capita to this market. We’ve demonstrated that we’re here to stay,” says Capita director Jim O’Leary, who joined from Capmark Europe when Capita took it over in 2009. Capita bought Barclays’ CMBS loan servicing arm in 2011.
The enormity of the NAMA contract involved “a significant investment and upscaling the size of three teams in Dublin, Belfast and London”, O’Leary adds. Now, with critical mass to build on, Capita intends to capitalise on other opportunities, including portfolio sales. “We’re undertaking due diligence with a view to wining servicing of non-performing loan books. Considerable opportunities will come from the Irish market, which has reached a more mature stage. It’s been through years of crisis; portfolios are coming to the market from NAMA, IBRC and potentially Ulster Bank.”
Run by chief executive Robbie Hughes, Capita has €72bn of European loans in servicing, including NAMA loans and 40 CMBS transactions, concentrated in Ireland, the UK and Germany. The servicer has worked through some big restructurings, including Europe’s largest deal: the €4.3bn GRAND German multi-family housing CMBS, which was led by borrower Deutsche Annington. The loan was extended and the bonds restructured, and noteholders have been repaid in full.
Yet as more deals get fixed, servicers’ current role is waning. O’Leary notes: “As we come through this cycle these loans are being resolved, repaid and restructured.” This month, re-priced bonds in the distressed £1.2bn Fleet Street 2 CMBS, secured against 90 Karstadt department stores in Germany, on which Capita is servicer, will be repaid in full.
Capita has worked on three CMBS issues in the past 18 months: RBS’s £463m Isobel, plus two German multi-family housing deals – Gagfah’s €2bn German Residential Funding and Deutsche Bank’s €386m Monnet. But the servicer is savvy in its approach to new lines of business, as a fully functioning CMBS market is some way off. O’Leary says: “Rather than rely on capital markets coming back, we’re diversifying to provide services to loan originators and to partner with them.”
It has won a mandate to provide servicing for a large UK life company scaling up to be a commercial real estate lender. O’Leary says the fact that “we’re not invested in lending” was a key factor in securing the deal. “Investors don’t want to believe competitors are looking at their loans,” he adds. Hatfield Philips, for example, has a potential conflict, as its owner, Starwood Capital, makes loans.
O’Leary says Capita’s success in tendering for a “sensitive government contract”, after undergoing “rigorous assessment” by NAMA, was down to its experience, highest rating level and strength of its FTSE 100 parent company, Capita plc, although rivals also put it down to the firm’s big Irish presence.
CBRE Loan Servicing: Going big on Germany
CBRE Loan Servicing is focusing on Germany in a big way and is close to hiring a head for its Frankfurt office, which opened in October, who will report to CBRELS’ UK-based chief operating officer, Europe, Clarence Dixon.
“We’re going to focus on clients originating, buying or financing German loans and portfolios; if we get it right, Germany could be a market that equals the size of the UK,” says Dixon, in respect of the big picture. He joined from Hatfield Philips early last year, tasked with expanding the business. Working alongside him are Gerard Nation, head of primary servicing, and Paul Lewis, special servicing head.
CBRELS was appointed as servicer on Project Chamonix, which Marathon bought from Lloyds, last February, and will continue to pitch for Lloyds’ trades, although Dixon is unsure whether these will continue at the same pace. Loan trades in Germany, generally, have so far been few and far between.
The company looked at the prospect of buying a German-based servicer, but decided to build and grow organically, as such a deal wouldn’t provide enough fee income. Crown Mortgage Management, where Dixon worked before joining Hatfield Philips, has sold its German operation to Mount Street.
In the meantime, CBRELS plans to build up its German business by seeking mandates to act as facility agent. It has already started to approach German banks about managing their syndications or club loans and has so far won the support of pbb Deutsche Pfandbriefbank.
Spain is another market the firm is “looking at closely”, according to Dixon. However, the initial opportunity will be residential, not commercial. “It is attractive but we don’t think there’s any rush,” he says.
There is growing activity on the commercial side, however, and CBRELS is servicing its current book of Spanish loans from London. It services more than €400m of assets in Spain – including Colony’s €215m, three-loan Project Alpha – and intends to deploy someone there this year.
Last year, across the entire business, CBRELS picked up around €5bn of new servicing mandates from new originators, debt entrants and loan book buyers, making it one of the fastest growing mortgage servicers in Europe. “These aren’t CMBS deals; these are newly originated deals, refinancings or portfolio sales,” Dixon says.
Two thirds of the new work is linked to origination; one third involves portfolio sales, including Project Chamonix. Some 65% of the work is deals in the UK and southern Europe. One quarter of the £13bn overall business is in securitisations, including debt secured against Coeur Défense, Windermere X and Nexus.
CBRELS is the appointed servicer for the latest CMBS, the €363m Italian Gallerie, by Goldman Sachs, but Dixon doesn’t believe it marks a CMBS comeback. The overarching aim of the firm, which was launched in 2009, is to become a global servicing business. It manages loans for US insurance company clients including MetLife, through Gemsa, its US sister organisation, which consolidates information provided by CBRELS into a global portfolio.
This is a model it is looking to replicate in Asia, where it is pitching for mandates. “We’ve started the process of setting up in Sydney, in response to our clients,” notes Dixon, while CBRELS is also considering opening a Singapore office.
Situs: Advisory arm grows as Deutsche Bank buy beds in
The European arm of America’s Situs Group spent the past year consolidating its position on the back of its 2012 acquisition of Deutsche Bank’s €6bn-plus European loan servicing platform, while simultane-ously building up its advisory business.
Situs has been active in Europe in a loan advisory capacity since 2004 and only began servicing loans in 2011 when it was acquired by Helios AMC, owned by Ranieri Partners and others including Deutsche Bank.
“We’re going back to our core business: due diligence and underwriting, and arranging new finance,” notes Hugo Raworth, managing director in the London office. “We want to be seen as a debt advisory business which also does asset management and loan servicing.”
The Deutsche Bank acquisition reflects the group’s desire to expand and made Situs Europe’s third-largest independent servicer, behind Hatfield Philips and Capita. The mandate includes servicing the remaining legacy loans in the Deco conduit programme.
Last year, Situs secured advisory mandates covering €15bn of loans relating to new origination or loan portfolio acquisitions. On the servicing side, it has €21bn of loans under management with 10-12 banking, insurance company and private equity clients: 40% of this is in the UK; 40% in Germany; and the remainder across Europe. Over half of this is bilateral and includes its Nordic joint venture with HSH Nordbank and Helios AMC, which is tasked with servicing HSH’s €3bn legacy loans there and advising on work-outs.
What Raworth calls ‘platform business’ is important to Situs. As banks continue to evaluate non-core businesses “they will be forced to look at alternatives; banks’ costs per employee are greater than the cost of outsourcing,” believes chief operating officer Bruce Nelson.
In the past couple of months, the firm has taken on the servicing and asset manage-ment of Hypothekenbank Frankfurt’s (formerly Eurohypo’s) remaining $2bn US loans and is “exploring similar platforms with other entities in Europe”, says Raworth. Another recent mandate is the servicing of €200m of performing and non-performing loans in Latvia on behalf of an investor, which it has subcontracted to local firm Lindorff.
Building a Spanish presence
Situs also intends to build a presence in Spain. “Spain is on the radar,” Raworth says. “Spanish banks are outsourcing servicing. It’s going to be a big due diligence market for some time to come.” The country’s bad bank, Sareb, has a lot of work to do to prepare the assets on its books for sale.
Situs is also trying to net work-out and servicing mandates in Germany, where it acquired a company called Global Servicing Solutions Germany, belonging to Merrill Lynch and Ocwen Financial, in 2009.
The servicer is managing the work-out of two of the biggest German Treveria CMBS loans: the C tranche, which is in insolvency; and Treveria D, which is undergoing a consensual wind down. It is also the master servicer on Taurus 2013 GMF 1, the new securitisation of Gagfah’s German Woba multi-family housing portfolio.
New CMBS work is a fundamental plank in the business plan for Situs. It has won several of the primary and/or special servicing mandates for the securitisations issued since the start of 2012 (see table, p15), including Merry Hill – Deco 2012; Florentia 2012; Taurus 2013 GMFI; Chiswick Deco 2013; and, most recently, the £263m Debussy CMBS, secured on Toys R Us’s UK portfolio.
Nelson sees opportunities coming from banks outsourcing other functions, such as back office and credit/compliance work, while Situs is trying to put together a whole new business line providing loan servicing to industries such as aircraft, shipping and railways transportation. “You’ve got to play to your strengths and recognise gaps in the market,” says Raworth.
Mount Street: Morgan Stanley business is next target after lifting Crown
Mount Street is on a roll. Although the firm is not commenting, confirmation is expected soon of its selection as preferred bidder for Morgan Stanley’s loan servicing business (MSMS) and it recently purchased Crown Mortgage Management in Germany. Not bad for nine months’ work since the business was started by Ravi Joseph and former Deutsche Bank and CBRE loan servicing head Paul Lloyd, who worked together at Morgan Stanley, plus Bill Sexton, with equity backing from US servicing firm Clayton Holdings.
Steve Northage was hired as head of loan management and primary servicing last summer and the London office’s headcount stands at nine, without taking into account staff it may inherit from MSMS. The Crown Mortgage Management acquisition took its loans under management to more than €2bn; with MSMS’s assets thrown in, that figure could top €5bn. Most of its business is new balance-sheet lending from lenders including Renshaw Bay, where Mount Street non-executive partner Lynn Gilbert worked.
Mount Street beat asset manager CR Investment Management to the MSMS deal in an off-market process. CR was looking to become a “one-stop-shop”, says another servicer, while Situs and Wells Fargo had also been in the running earlier in the process. Solutus also looked at buying Crown and some were surprised that Capita did not feature in the line up for MSMS.
However, one source says the group “might not have got the chance to go forward, as it was always going to go to Mount Street. CR was brought in to demon-strate that there was a process” – referring to the Mount Street partners’ deeper knowledge of the MSMS business.
MSMS’s loanbook includes five UK CMBS loans with a £1.54bn outstanding balance – including the loan secured against Beacon Capital Partners’ CityPoint tower – and four European CMBS loans totalling €1.45bn. Most of the European loans are thought to be in special servicing and all of them were made as part of Morgan Stanley’s “well underwritten” ELoC securitisation programme, notes the other servicer.
Crown gave Mount Street a way into Germany. The Frankfurt operation, run by Elke Wagner, is relatively small, with just three staff, focused on residential loans. Crown’s main business, which wasn’t sold, is UK residential loan servicing.
Germany is a key market
Lloyd says the UK and Germany are key markets for the business and Mount Street knew it would want a German team at some stage, because it manages some German loans in the Titan 2007 CMBS, which it took off Capita. It is also servicer on all four loans remain-ing in the Windermere XIV CMBS, as of this month. Noteholders voted to replace Hatfield Philips as servicer across the deal.
They claim Hatfield Philips has been unresponsive and wasn’t transparent, particularly in the case of the €252.2m Italian Fortezza loan, which matured on 15 January, yet noteholders were kept in the dark regarding Hatfield Philips’s work-out proposal until the day before maturity.
Mount Street “wants to be different to any other servicer – liberal with information and transparency”, says Lloyd. “The one thing you need to be is transparent, especially with a note default pending,” he adds. “Clients don’t want to be a number. They want someone that understands deals and can add value.”
With regard to the SISU loan within Windermere XIV – which Mount Street was appointed special servicer on before it won the entire servicing contract – “our reporting is more open than any other servicer; there’s lots of commentary in there”, he says.
Solutus Advisors: Courting partners from the alternative debt pack
Having declined a couple of approaches it received from new lenders looking to acquire a servicing platform, eight-strong, London-based Solutus Advisors has flipped the concept on its head by seeking partnerships with alternative debt providers.
Alongside other servicers, the boutique firm is targeting new entrants without loan management expertise where “we might add other units to our business: loan origination, distribution, syndication”, says Darren Davey, a principal of Solutus.
While some of these new entrants to the debt market are building teams organically and others are looking to purchase a special servicer, some are keen to look at joint ventures. “A lot of people don’t want [to go through] that figure-it-all-out time and want to hit the ground running with an established partner,” adds Davey.
Over the course of last year, Solutus worked with clients that have funds of around €3bn, deploying senior, mezzanine, or equity participation-type loans for the repositioning or development of assets, and capital expenditure requirements, which are more complex.
In addition the Solutus team is starting 2014 working with a new fund to help with the underwriting and servicing for similar style loans. “That’s where servicing makes money; it’s suited to our experience,” says Solutus co-founder James Bannister. Solutus, which has 11 loans in special servicing and naming rights on other loans as of this January, was set up with a real estate focus in 2010 by Bannister and Davey when they left Deutsche Bank’s DECO platform.
The first mandates for Solutus were loan transfers of two Titan loans, and DECO 6, 8 and 11, from Capita and Hatfield Philips respectively. Solutus says the transfers were triggered by various controlling-class noteholders in these securitisations. In Germany, Solutus opened an office in Frankfurt in 2012, run by former Deutsche Bank servicer Tim Schuy, who splits his time between Frankfurt and London.
Schuy has helped the special servicer branch into structured finance advisory work on deals totalling about €400m. “We’re advising sponsors on discounted payoffs, sourcing new financing and general advice on how they move into the new world,” according to Davey. Loan underwriting – in both Germany and the UK – is another route Solutus is trailing. “There are still a lot of German loans within CMBS and domestic banks that haven’t been dealt with,” says Bannister. “We’ll see a continued flow of non-performing loan portfolios in the short term.”
In the UK, in several cases it worked on the underwriting side for clients that were in the bidding process for non-performing loan book trades. Solutus is only chasing new issuance selectively. Says Bannister: “The primary servicing side today is an economies of scale business with a big administrative function, rather than having an actively engaged servicer with in-depth knowledge of the loan and the real estate.
“We don’t think this is what primary servicing should be about, but servicers over the years have priced the market down in primary servicing to a level where we don’t believe the best job can be done. “As a business, we want to maintain profitability and provide a good service, and primary servicing can be profitable if you have volume and a client who understands the need to have an engaged primary servicer.”
Hatfield Philips: CMBS giant must diversify
Hatfield Philips International is Europe’s dominant third-party CMBS primary and special servicer in terms of market share, with around €18.5bn of mandates. According to rating agency Moody’s, the company was special servicer on 48.5% of all CMBS in special servicing at the end of November 2013, which still represents plenty of profitable work – for the time being.
However, this means that in Hatfield Philips’ case, the key issue facing all loan servicers of how to develop their businesses away from CMBS is writ especially large. The servicer has had mixed fortunes over the past 12 months: while some loans have been successfully paid off, it also lost existing loans to newcomer Mount Street, after investor Lone Star and other note-holders transferred the mandates from Windermere XIV.
The first transfer, of the SISU loan, which was in special servicing, took place last summer, but only after Hatfield Philips initially refused to recognise a termination notice from Lone Star, questioning the preconditions for its replacement. The servicer cited the transfer condition that the original rating agencies of the deal must give rating agency confirmations (RACs) that the replacement would not adversely affect the ratings for the notes. However, Fitch had stopped providing such confirmations.
This month, noteholders voted to transfer the other three remaining Windermere XIV loans to Mount Street, including those in primary servicing – the first time this has happened. Hatfield Philips has also been seen in the market as a business with no figurehead that has been drifting. Matthias Schlüter held the fort as managing director on the operations side, following the departure of Clarence Dixon to CBRE Loan Servicing.
Last April, the company changed hands when Starwood Property Trust bought the company’s US parent, LNR Partners, for $1.05bn from Cerberus, Oaktree and i-star – about a quarter of the price the sellers had paid seven or so years earlier.

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Photo by Liz Linder Photography
“Brian Church sang handsomely and acted compassionately… clarinetist Amy Advocat, saxophonist Philipp A. Stäudlin, percussionist Mike Williams, and violinist Lilit Hartunian played with passion and assurance…”
Steve Smith, The Boston Globe
“…a contemporary tale, yoked to the past with one simple word — a name….relentlessly inventive…an inspired authorial stroke.”
Keith Powers, WBUR’s The ARTery
By David Weininger l GLOBE CORRESPONDENT l MAY 19, 2016
What is a hero? That is the simple yet vast question at the heart of Hannah Lash’s “Beowulf,” which Guerilla Opera will premiere on Friday. Less an updating than a reimagining of the Old English legend, the opera discards the poem’s noble, self-assured protagonist and replaces him with a humbler and more authentic figure. He’s a doctor, a former army medic haunted by dual demons: PTSD from a tragic wartime encounter, in which a young girl died in his care, and his mother, for whom he must care as she slides inexorably into dementia. Heroism, Lash implies, lies not in valiant deeds, but in holding it together under the arduous demands that life places on us.
> Read the entire article from The Boston Globe here. <


JamBase Features, Newswire & Reviews
They Might Be Giants: Join Us
They might be kick major ass! Their live show is great!
"no one in this world ever gets what they want and that is beautiful"
The Else came out in 2007, was not a kids album, and was great. If you've been waiting 20 years for a TMBG album that you like, I'd be willing to bet you don't really like TMBG.
good point wenty!!!


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