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Michael Jordan has long been associated with the game of basketball, first as a six-time NBA champion with the Chicago Bulls, and currently the owner of the Charlotte Bobcats.You can now call him a NASCAR team owner.Denny Hamlin announced a partnership on Monday with Jordan as the two will form a single-car team featuring Bubba Wallace who will drive the team’s lone car. The team will begin operations in 2021.Hamlin will continue driving for Joe Gibbs Racing.“Bubba has shown tremendous improvement since joining the Cup Series and we believe he's ready to take his career to a higher level,” Hamlin said. “He deserves the opportunity to compete for race wins and our team will make sure he has the resources to do just that. Off the track, Bubba has been a loud voice for change in our sport and our country. MJ and I support him fully in those efforts and stand beside him.”Wallace became a newsmaker over the summer when a noose was discovered by NASCAR officials in his garage. NASCAR later announced that it believed that Wallace was not the target of a hate crime after investigating the origins of the noose, adding that the noose had been hanging in the garage’s stall for several months.Drivers and crew members stood in solidarity with Wallace following the incident. Fellow drivers pushed Wallace’s car to the front of the field moments before a race in June got underway.Wallace became the first Black full-time NASCAR Cup Series driver in 2018 in more than four decades. He instantly found success as a full-time driver, finishing as the runner-up of the 2018 Daytona 500.Wallace has been a vocal opponent of the use of Confederate flags at NASCAR events. During the summer, while the US debated the use of Confederate symbols, NASCAR announced it would be removing all Confederate symbols from raceways. 1829
Marc Short, the chief of staff for Vice President Mike Pence, has contracted COVID-19, according to The New York Times and Bloomberg.Pence's staff says the Vice President tested negative for the virus on Saturday.According to the Times, Pence's office released a statement Saturday night saying that even though Pence had close contact with Short in recent days, he "will maintain his schedule in accordance with the CDC guidelines for essential personnel.”The announcement came shortly after Bloomberg reported Saturday night that another one of Pence's top aides, Marty Obst, had also tested positive for the virus."Today, Marc Short, Chief of Staff to the Vice President, tested positive for COVID-19, began quarantine and assisting in the contact tracing process," a statement from Pence press secretary Devin O'Malley read, according to Axios. "Vice President Pence and Mrs. Pence both tested negative for COVID-19 today, and remain in good health. While Vice President Pence is considered a close contact with Mr. Short, in consultation with the White House Medical Unit, the Vice President will maintain his schedule in accordance with the CDC guidelines for essential personnel."Short and Obst are just the latest high-ranking White House officials to contract COVID-19. Earlier this month, President Donald Trump, first lady Melania Trump and their son, Barron, all announced that they had contracted COVID-19. Other top aides like press secretary Kayleigh McEnany, adviser Stephen Miller and former adviser Kellyanne Conway also tested positive for the virus. Most were in attendance at a White House event for the nomination of Judge Amy Coney Barrett, where many guests were pictured indoors without masks.The outbreak in Pence's office comes as COVID-19 cases spike across the country. On Friday, the U.S. recorded a single-day record of new cases of the virus with nearly 84,000. 1901

Millions of renters are safe from eviction after the Center for Disease Control (CDC) issued an eviction moratorium at the beginning of September. The moratorium blocks landlords from evicting tenants from their homes, over concern of further spreading COVID-19.Now, landlords are pushing back on the mandate.“My lender wants to get paid,” said Florida landlord Andy Orfitelli.For Orfitelli in Florida to landlord Rebecca Welsh in Kentucky, many landlords have said they cannot afford the financial burden the moratorium is now putting on them.“Literally, right now, I am supporting three homes, households, not just mine,” said Welsh, who is currently expecting a child.“We are concerned that an order like this could force many operators into bankruptcy and those properties could be lost,” said Bob Pinnegar, who is with the National Apartment Association (NAA).The NAA has joined landlords in at least three states in a lawsuit against the federal ban on most evictions.“We were forced into this situation with the inaction of Congress in putting together a stimulus package, and then, the combination of the CDC order laid over top of that,” explained Pinnegar. “It has forced us to where we have to take legal action.”The NAA explained with the lawsuit, its goal is not for landlords to be able to push residents out of their homes, but rather it hopes it pushes Congress to take action and fund the mandate.“This is really to try to force Congress to get back to the table and talk about a solution here,” said Pinnegar. ”We have been told by members of Congress on both the Republican and Democratic side that the next stimulus bill will contain relief for renters, but the bill is being held hostage to our current political environment.”The National Apartment Association wants a stimulus package with money allocated to renters, instead of a moratorium, because the money would trickle down to help landlords pay their mortgages and keep their property. If Congress does not allocate such money or fail to pass a stimulus bill soon, the consequence for landlords could be seen soon
Millions of homeowners could still benefit from refinancing their mortgages to get a lower interest rate. This is true even after a federal regulator startled lenders by dictating a new fee that amounts to a tax on refinancing.Many could save by refinancingMortgage rates began falling in the spring, as the potential economic impact of the COVID-19 pandemic dawned on financial markets, and declined into summer. The average rate on the 30-year fixed-rate mortgage has lingered around 3% APR in much of August, according to NerdWallet’s daily survey, and the 15-year fixed-rate loan has averaged under 3%.Low refinance rates ignited a refinancing boom, accounting for more than 60% of mortgage applications most weeks this summer. Still, plenty of potential refinancers remain. When the 30-year mortgage rate is 3%, almost 18 million homeowners could reduce their interest rate at least 0.75% by refinancing, according to mortgage analytics company Black Knight. The average potential refinance savings: almost 0 a month.Fee could diminish refi savings for someA new fee on refinance transactions could reduce borrowers’ monthly savings, though. The “adverse market refinance fee” was stealthily announced Aug. 12 by Fannie Mae and Freddie Mac, the government-sponsored companies that bought and securitized 47% of mortgages at the beginning of 2020.Freddie attributed the fee to “COVID-19 related economic and market uncertainty.” Fannie used similar wording, without mentioning the disease.The fee is a 0.5% charge on conventional refinances. It amounts to a half-of-a-percent sales tax on refinancing. In the first week of August, the average amount of a conventional refinance was about 4,000, according to the Mortgage Bankers Association. On a refinance for that amount, the fee would be ,620.Some refinancers won’t have to pay. The fee applies only to conventional, conforming mortgages, which means that it doesn’t apply to those who refinance government home loans. Jumbo loans are also exempt.Lenders can pass along the fee to borrowers in several ways: including it in the refinance closing costs, adding it to the loan amount or increasing the interest rate. A 0.5% fee typically would translate into a rate increase of 0.125% or less.New fee targets less-risky borrowersFannie and Freddie claimed that the fee was driven by market uncertainty, but it was levied on refinances, not purchase loans. Refinances generally carry less risk than purchases, so charging more for refis is like setting a higher auto insurance premium for a mom with a clean driving record than for her 16-year-old son.So it’s a mystery why an “adverse market” charge was added to lower-risk loans.Another enigma is who imposed the fee. Fannie and Freddie made the announcement at night, hours after their headquarters closed; the Federal Housing Finance Agency, which closely oversees the companies, made no public comment. David H. Stevens, a former commissioner of the Federal Housing Administration, pointed at the FHFA, tweeting that the agency, Fannie and Freddie “are essentially providing [refinancing homeowners] the middle finger…”Why refis pose less risk than purchase loansTo refinance, borrowers need to demonstrate that they’ve been paying on time. And most people refinance to get lower monthly payments. It’s safe to assume that dependable borrowers decrease their risk of default when they reduce their payments. In contrast, purchase loans are a step into the unknown.The fee will be charged on refi loans that Fannie and Freddie buy on or after Sept. 1. Typically, a few weeks pass between a loan’s closing and its sale to Fannie or Freddie. That time lag means the fee increase applies to most conventional refinancers who had not locked their rate and fees by Aug. 12, when the fee was announced.There’s a chance that the fee could be rescinded. On Aug. 13, a senior White House official told the Wall Street Journal that the administration “has serious concerns with this action, and is reviewing it.” But the FHFA is an independent agency and can act without White House approval.More reasons to refinanceA modest fee doesn’t have to stop anyone from refinancing. There are other reasons to refinance besides monthly savings:Repay the loan faster. By refinancing a 30-year mortgage to a 15-year loan, a borrower can save thousands of dollars over the life of the loan by paying interest for a shorter period.Stop paying mortgage insurance. Refinancing is a way to get rid of mortgage insurance, whether it’s an FHA loan insured by the Federal Housing Administration or private mortgage insurance on a conventional loan.Extract equity. Some homeowners refinance for more than they owe and take the difference in cash in what’s called a cash-out refinance. The money can go toward home improvements or other uses.More From NerdWalletHow and why to refinance your mortgageHow to get rid of private mortgage insuranceHow to get the lowest refinance rateHolden Lewis is a writer at NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. 5063
LOS BANOS, Calif. (AP) — One of the most recent threats to California's environment has webbed feet, white whiskers, shaggy fur and orange buck teeth that could be mistaken for carrots."Boy, they're an ugly-looking thing," said David Passadori, an almond and walnut grower in central California. "And the way they multiply — jeez."The swamp rodents, called nutria, are setting off alarms in California. They weigh about 20 pounds (9 kilograms) each and eat the equivalent of about a fourth of their weight each day by burrowing into riverbanks and chomping into plants that emerge from the water.The animals can destroy the wetland habitats of rare and endangered species, degrading soil, ruining crops and carrying pathogens that may threaten livestock.Most of all, they pose a public safety risk: Left unchecked, nutria could jeopardize California's water supply, especially if they get into the Sacramento-San Joaquin River Delta.The delta is the "heartbeat of California's water infrastructure," according to Peter Tira, spokesman for the state's Department of Fish and Wildlife. It contains a network of more than 1,000 miles (1,600 kilometers) of canals and levees that protect the area from flooding, provide drinking water to millions of Californians and irrigate the lush agricultural region.Now, armed with million in state funds, the wildlife agency is deploying new tactics to eradicate the nutria and try to prevent the widespread destruction they are known to cause."Over the past two years, our best efforts were trying to not even control the population but keep it from exploding while we pursued the resources needed to actually pursue eradication," said Valerie Cook, environmental program manager for Fish and Wildlife's newly established Nutria Eradication Program."We haven't had nutria in California for 50 years, so nobody really knows much about them," Tira said. "We've had to learn on the job as we go."An invasive species originally from South America and brought to the U.S. at the height of the fur trade in the late 19th century, nutria were believed to have been eradicated in the state in the 1970s until one turned up in a beaver trap in 2017. Since then, more than 700 nutria have been trapped and killed, including four on Passadori's property.Farmers, landowners and biologists in the Central Valley, an agricultural region 130 miles (210 kilometers) north of Sacramento, have been on high alert.On a recent morning in Merced County, where the most nutria have been found, state biologists Greg Gerstenberg and Sean McCain paddled in kayaks in a wetland pond thick with cattails. Wearing waders, they trudged through chest-deep water to check surveillance cameras and cage traps where they leave sweet potato pieces to entice the invasive rodents.Last year, wildlife officials removed almost 90 nutria from this pond. Gerstenberg and McCain have returned because they believe at least a few nutria are back. But on this morning they found only muskrats, smaller swamp-dwelling rodents, and released them back into the pond."Our goal is to get out here and find them and eradicate them before they become fully established throughout our Central Valley," said Gerstenberg, a senior Fish and Wildlife biologist.The Central Valley is the United States' most productive agricultural region, responsible for more than half the nation's fruits, vegetables and nuts, including almost all its apricots, table grapes, carrots, asparagus and tree nuts. Federal Department of Agriculture figures put the market value of Central Valley agricultural production in 2017 at almost billion.Damage to the region's soil or water infrastructure would be devastating to the economy and diet."It would mean no more sushi because the alternative would be to buy rice from Japan or Korea, where the price is five times higher," said Daniel Sumner, director of the Agricultural Issues Center at the University of California-Davis. "Kiss off carrots, or live without table grapes in the summertime."Trail cameras and landowners have helped locate the elusive, nocturnal creatures over an area of almost 13,300 square miles (34,449 square kilometers) that wildlife officials are evaluating for nutria habitats. Live traps baited with sweet potato donated by farmers help capture them. Once identified as nutria, the animals are shot. Tira said about three-quarters of female nutria have been found pregnant — they can have up to three litters a year, allowing them to repopulate quickly.The new attention and funding will allow Fish and Wildlife to hire 46 dedicated staff. By December, the agency will launch what's known as a Judas Nutria program that would outfit surgically sterilized nutria with radio collars and send them out in the wild. Because the animals are so social, they will lead the team to other nutria.Before year's end, Fish and Wildlife will start genetically testing the nutria to determine where they came from. Tira said migration from Oregon or Washington is doubtful, but the team isn't sure whether the nutria were reintroduced to California or part of a remnant population.Taking a cue from Maryland's eastern shore and parts of Delaware and Virginia, officials also will test dogs trained to sniff out the rodents' scent and scat."We can't be successful if we can't find every single animal," Cook said.Besides threatening agriculture and infrastructure, nutria can harm wetlands, which play a critical role in keeping carbon dioxide out of the atmosphere and helping mitigate global warming.The Central Valley also hosts the largest concentration of migratory waterfowl on Earth, said Ric Ortega, the Grassland Water District's general manager."We only have so much surface water storage in California," he said. "It's not a wetland if it's not wet. The nutria complicate that."___Samantha Maldonado reported from San Francisco. 5885
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