Car battery thief sentenced to community service

first_imgA vagrant was ordered to do community service after he appeared in the Georgetown Magistrates’ Courts before Chief Magistrate Ann McLennan and admitted to a simple larceny charge.Jermain Josiah is accused of stealing one car battery valued $20,000; the property of Troy Samuels.The court heard that on May 7, 2018, while in the Stabroek area, Josiah, who is known to the Virtual Complainant was seen removing the battery from where Samuels usually operates a small business.The battery was used to light a bulb at a stall where Samuels plies his trade as a wholesale groceries vendor.After making inquiries about the missing battery, the VC later learnt that it was Josiah who took it into his possession.The matter was reported, and Josiah was subsequently arrested.The man pleaded guilty to the charge and was subsequently ordered to perform four weeks of community service. Failure to pay the fine will result in him serving four weeks in prison. He told the Magistrate that he will proceed with the community service.last_img read more

Claudio Ranieri says he will understand if N’Golo Kante wants out of Leicester

first_img1 N’golo Kante in action for Leicester City Claudio Ranieri says he will understand if N’Golo Kante wants to leave Leicester this summer – but hopes the midfielder stays with the club.Kante starred for the Foxes last season, helping them secure a remarkable Premier League title triumph, after his £5.6million arrival from Caen in 2015.He went on to impress for France at Euro 2016 and is reportedly on the radar of a host of clubs across Europe, including Chelsea.The 25-year-old has been offered a new deal by Leicester but Ranieri is still yet to discover what the player’s plans for the future are.“I have heard there is so much speculation behind him, I don’t want to lose him but I can understand if he wants to go,” said the Italian.“We offered a new contract to him, he went away because he wanted to finish Euro 2016.“At this point, I hope the team brings the maximum [transfer fee for him]. I want him here. But I don’t know.“I would like now to be sure who stays with me or not because now the friendlies start and I have to start to manage.“I would like to understand if he stays with me or not. I speak often with him. If one is not happy with me, I prefer that he goes.”last_img read more

GM cuts losses, but still in red ink

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl eventWhile it was GM’s sixth straight quarterly loss, it was an improvement over the January-March period of 2005, when GM lost $1.3 billion, or $2.22 per share, and stopped providing financial guidance. “The first quarter represented an important milestone in GM and GM North America’s turnaround,” GM Chairman and Chief Executive Rick Wagoner said in a statement. GM’s shares rose $2.07, or 10 percent, to close at $22.64 on the New York Stock Exchange. Its shares have been edging up from a 52-week low of $18.33 reached in December. “We are pleased to see results improve, but our enthusiasm is tempered by several factors,” Morgan Stanley analyst Jonathan Steinmetz said in a note to investors. Steinmetz said GM’s high production levels boosted profits in the first quarter but are likely to decline now that the automaker has built up inventory. Henderson said GM is concerned about gas prices but believes there is still demand for full-size SUVs. “There are still customers who want the full-size sport ute and we have no intention of walking away from that,” Henderson said. The Detroit-based automaker, which lost $10.6 billion in 2005, is in the midst of a major North American restructuring that calls for cutting 30,000 jobs and closing 12 facilities by 2008. GM said restructuring charges for North America, Europe and elsewhere totaled $111 million. Included in the first-quarter results was a one-time pretax charge of $1 billion for expenses related to a recent settlement that requires hourly retirees to pay more for their health care. GM must contribute $3 billion to a fund for retiree health care by 2011. GM expects the settlement will save $750 million per quarter, but not until the second half of this year. GM also is waiting to reap financial benefits from some of its other restructuring efforts, including a buyout offer made this spring to its 113,000 U.S. hourly employees. GM expects to see a windfall in the fourth quarter, when its $14 billion deal to sell a 51 percent stake in its financial arm, General Motors Acceptance Corp., is expected to be completed. But some of GM’s restructuring actions are already contributing to the company’s bottom line. The new lineup of SUVs and a pullback on expensive incentives helped raise GM’s average price per vehicle by $1,000 for the quarter, to $19,960. GM also realized gains from the sale of noncore assets such as its stake in Suzuki Motor Corp., which fetched $317 million. Quarterly revenue rose to a record $52.2 billion from $45.8 billion a year ago, thanks in part to strong sales outside North America. While U.S. sales were down 5 percent in the January-March period, that was offset by increased sales in China and other developing markets, GM said. The company’s global market share was flat at 13 percent. GM’s struggling North American division reported a loss of $946 million, compared with a loss of $1.5 billion a year ago. Henderson said GM is on track to meet its goal of $4 billion in cost reductions by the end of this year. “It’s a quarter of good, solid progress,” he said. “Obviously, the job’s not done.” GMAC earned $605 million for the quarter, down from $728 million a year ago as mortgage earnings took a hit due to higher interest rates. Mortgage earnings slipped by more than half, to $206 million. GMAC remained a heavy contributor to GM’s bottom line in the first quarter, pitching in an estimated $1.07 per share, but that will change when the majority stake in GMAC goes to new owners, Merrill Lynch analyst John Murphy said. “This will raise much needed liquidity but will push GM’s largest profit contributor for years out the door,” Murphy said in a note to investors. GM hasn’t provided earnings guidance since last April, and Henderson said the company doesn’t plan to provide guidance for the rest of this year. Henderson said it would be inappropriate for GM to issue guidance until it comes to a resolution with Delphi. Delphi wants to lower hourly workers’ wages and has asked a federal bankruptcy court to throw out its union contracts. If those contracts are voided, the United Auto Workers and other unions have threatened a strike that could devastate GM.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! DETROIT – General Motors Corp. managed to reduce the flow of red ink in the first quarter, significantly narrowing its losses as a major restructuring began to take hold, but the world’s biggest automaker acknowledged it still has a long way to go before it returns to profitability. “We’re still burning cash. We’re still not comfortable where we are with our cash flow,” said GM Chief Financial Officer Frederick “Fritz” Henderson. Wall Street analysts said the results were better than expected, but they warned that GM faces significant head winds, including rising gas prices that could hurt a new lineup of sport utility vehicles and ongoing negotiations over wages at Delphi Corp., GM’s former parts division. GM is expected to be on the hook for billions of dollars in Delphi labor and pension costs. GM reported a first-quarter loss of $323 million, or 57 cents per share, on Thursday. last_img read more