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Here, the PA news agency looks at the seven Grand Slam finals contested by the pair. Murray turned in a poor performance in Melbourne, failing at the third attempt to win a set in a Grand Slam final as Djokovic broke serve seven times and hit six aces to claim a comprehensive win 6-4 6-2 6-3. “You had an unbelievable tournament and deserved to win,” the Scot said in reference to his opponent. “I look forward to playing against you in the future.” It took five sets for Murray to claim his first Grand Slam title, becoming the first British man to achieve the feat since Fred Perry in 1936. The final clocked in at four hours and 54 minutes as Murray prevailed 7-6 (10) 7-5 2-6 3-6 6-2 to end a wait of 287 tournaments in British male tennis for a victory. “I want to congratulate Andy on his first grand slam, he thoroughly deserves it,” said Djokovic. “I really tried my best. I gave it my all. It was a tremendous match.” Congrats @DjokerNole . Incredible athlete. Perfect gentleman. #ausopen — judy murray (@JudyMurray) January 27, 2013 Murray was dogged by injury in Melbourne with a heavily strapped right foot and a tight hamstring as Djokovic fought back from a set down to land a third consecutive Australian Open title, 6-7 (2) 7-6 (3) 6-3 6-2. “His record here is incredible,” said Murray. ”Very few people have managed to do what he has done, a deserved champion.” Murray ended a 77-year wait for a British men’s victory at Wimbledon by defeating his old foe 6-4, 7-5, 6-4 in SW19, serving emphatically with nine aces and only two double faults to throw off the weight of history. The Scot had been 4-1 down in the second set as the match threatened to slip away from him and with it the chance to cement his place in tennis folklore, but having wasted three championship points he finally sealed the deal when Djokovic drove into the net with his final shot. A post shared by Novak Djokovic (@djokernole) Djokovic triumphed 7-6 (5) 6-7 (4) 6-3 6-0 and after the 24 matches and five grand slam finals the pair had played against each other across nine years, the Serb had established a 16-8 overall lead and 3-2 in slam finals. “Success is being happy,” said Murray. “It’s not about winning every single tournament you play, because that isn’t possible.” What a journey. Really grateful for everything. I'll keep working hard. Love is the key! pic.twitter.com/CrT7TYRL3O — Novak Djokovic (@DjokerNole) January 31, 2016 The Serb landed a fourth win over Murray in Australian Open finals and his 11th in 12 matches to land his 11th major title, whilst the Scot made it five consecutive final losses in Melbourne, a new record in the Open era. “I feel like I’ve been here before,” said Murray after a 6-1 7-5 7-6 (3) loss. “Congratulations Novak, six Australian Opens, an incredible feat, and incredible consistency the last year.” "This is something that’s so rare in tennis... it’s gonna take a long time for it to happen again" Andy to Novak ❤️ pic.twitter.com/LN7dW8ZJED — Roland-Garros (@rolandgarros) June 5, 2016 This was Murray’s first final at Roland Garros but it brought a familiar conclusion as Djokovic triumphed against him for the fifth time in seven Grand Slam finals. The 3-6 6-1 6-2 6-4 success was a first win for the Serb in Paris and saw him hold all four slams simultaneously. Murray went on to win Wimbledon the following month and was voted BBC Sports Personality of the Year but, addressing Djokovic in Paris, said: “This is his day today. What he’s achieved the last 12 months is phenomenal, winning all four of the grand slams in one year is an amazing achievement.”DiVincenzo scores 26 to lead Timberwolves past Spurs 112-110 despite 34 points from Wembanyama
No. 22 St. John's, Georgia pack busy schedule with game on Sunday
Equifax's EFX short percent of float has risen 13.1% since its last report. The company recently reported that it has 2.48 million shares sold short , which is 2.59% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.3 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish. See Also: List of the most shorted stocks Equifax Short Interest Graph (3 Months) As you can see from the chart above the percentage of shares that are sold short for Equifax has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted. Comparing Equifax's Short Interest Against Its Peers Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis. According to Benzinga Pro , Equifax's peer group average for short interest as a percentage of float is 2.94%, which means the company has less short interest than most of its peers. Did you know that increasing short interest can actually be bullish for a stock? This post by Benzinga Money explains how you can profit from it. This article was generated by Benzinga's automated content engine and was reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Avior Wealth Management LLC lessened its stake in Emerson Electric Co. ( NYSE:EMR – Free Report ) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,924 shares of the industrial products company’s stock after selling 189 shares during the period. Avior Wealth Management LLC’s holdings in Emerson Electric were worth $320,000 at the end of the most recent reporting period. Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Emerson Electric in the 3rd quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Emerson Electric in the 1st quarter valued at $31,000. Meeder Asset Management Inc. boosted its stake in shares of Emerson Electric by 361.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 235 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of Emerson Electric in the 3rd quarter valued at $33,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Emerson Electric in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 74.30% of the company’s stock. Analyst Upgrades and Downgrades A number of equities research analysts recently commented on EMR shares. UBS Group assumed coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They set a “neutral” rating and a $135.00 price target for the company. Robert W. Baird upped their target price on shares of Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target on the stock. Finally, KeyCorp raised their price target on shares of Emerson Electric from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $130.00. Emerson Electric Price Performance NYSE EMR opened at $130.07 on Friday. Emerson Electric Co. has a 12 month low of $87.55 and a 12 month high of $131.56. The stock has a market cap of $74.17 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.17 and a beta of 1.30. The company’s 50 day moving average is $114.02 and its two-hundred day moving average is $110.74. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. Emerson Electric Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.5275 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. Emerson Electric’s payout ratio is currently 61.70%. Insiders Place Their Bets In related news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the completion of the transaction, the senior vice president now owns 262,408 shares in the company, valued at approximately $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . 0.25% of the stock is currently owned by corporate insiders. Emerson Electric Company Profile ( Free Report ) Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity. Further Reading Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter .
UAE airlines keep link to Israel
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At Israel's Ben Gurion International Airport, more than a year of war has taken its toll. Global airlines have canceled flights, gates are empty and pictures of hostages still held in the Gaza Strip guide the few arriving passengers to baggage claim. But one check-in desk remains flush with travelers: the one serving flights to the United Arab Emirates, which have kept up a bridge for Israelis to the outside world throughout the war. The Emirati flights, in addition to bolstering airlines' bottom lines, have shined a light on the countries' burgeoning ties — which have survived the wars raging across the Middle East and could be further strengthened as U.S. President-elect Donald Trump prepares to return to office. "It's a political and economic statement," said Joshua Teitelbaum, a professor of Middle Eastern studies at Israel's BarIlan University. "They are the main foreign airlines that continue to fly." Since the wars began with Hamas' initial Oct. 7, 2023, attack on Israel, many international airlines have halted, restarted and halted again their flights into Israel's main gateway to the rest of the world. The concern is real for the carriers, who remember the downing of Malaysia Airlines Flight 17 over Ukraine 10 years ago and Iran shooting down Ukraine International Airlines Flight 752 after takeoff from Tehran in 2020. But FlyDubai, the sister airline to the long-haul carrier Emirates, has kept up multiple flights daily and kept Israel connected to the wider world even as its other low-cost competitors have stopped flights. Abu Dhabi's Etihad has continued its flights as well. While maintaining the flight schedule remains politically important for the UAE after its 2020 diplomatic recognition of Israel, it also provided a further shot in the arm for revenues — particularly for FlyDubai. Since the Israeli's wars against Hamas in Gaza and Hezbollah in Lebanon started, international carriers such as Atlanta-based Delta Air Lines, Germany's Lufthansa and other major airlines halted their flights. Some resumed, only to stop again after Iran's Oct. 1 ballistic missile attack on Israel and Israel's Oct. 26 retaliatory strike on the Islamic Republic. Tehran has threatened to strike Israel again. That's brought major business to Israel's national carrier El Al, which had struggled in the coronavirus pandemic and prior years. The airline posted its bestever half-year results this year, recording a $227 million profit as compared to $58 million profit in the same period last year. El Al stock has risen by as much 200% over the past year, as compared to a 29% rise in the wider Tel Aviv 125 stock market index. El Al, however, lacks the routes and connections of major international carriers. Low-cost carriers as well have stopped flying into Israel during periods of the war, sending the price of El Al tickets ever higher. Passenger numbers through Ben Gurion halved compared to the same period the year before, El Al said in its second-quarter financial results. However, FlyDubai has kept flying. The carrier has operated more than 1,800 flights to Israel since October 2023, cancelling only 77 flights overall, according to Cirium, an aviation analytics company. In September alone, it flew more than 200 flights. As a line snaked toward the FlyDubai check-in counters at Ben Gurion Airport, UAE-bound Motti Eis said the flights were "a symbol that the Emirates countries decided to keep the peace." FlyDubai declined to answer questions from The Associated Press about the flights. Etihad, the flag carrier for Abu Dhabi, has kept flying into Tel Aviv, but the number of its flights has been dwarfed by FlyDubai. FlyDubai had 3.6% market share at Ben Gurion, compared to El Al's 43.2% in the second half of 2024. However, at least two of the foreign low-cost airlines with greater market, Wizz Air and Blue Bird, stopped flying for extended periods this year. Etihad said it maintains a close watch on the situation in the region, but continues its daily flights to and from Tel Aviv. "Ben Gurion International Airport remains open, employing best practices in safety and security practices, enabling Etihad and other airlines to provide essential air connectivity as long as it is secure to do so," the airline said in a statement. Beyond the financial impact, the decision also takes root in the UAE's decision to recognize Israel in 2020 under agreements brokered by President Donald Trump known as the Abraham Accords. While Abu Dhabi has repeatedly expressed concern and outrage at Israel's conduct during the wars, Israel's consulate in Dubai and embassy remain open in the country. And while Dubai, broadly speaking, remains focused on business in the country, Abu Dhabi's focus long has been on its geopolitical aims — which since the 2011 Arab Spring have been squarely focused on challenging Islamist movements and those who back them in the wider region. The UAE, a hereditary autocracy, long has viewed those groups as serious challenges to its power. Get local news delivered to your inbox!A financial expert, Dr. Kingsley Chibuzor Aguoru, has voiced his support for the Central Bank of Nigeria’s decision to prioritise the eNaira over decentralised cryptocurrencies. Dr. Aguoru, an expert in technology and digital security with extensive experience in financial systems, including the development of the 3WiDentity authentication system, pointed out that approving cryptocurrency for national use would contravene Nigeria’s existing financial regulations, as cryptocurrencies like Bitcoin operate as unregulated, decentralised assets. He emphasised that the eNaira offers a safer and more reliable digital currency option for Nigerians Speaking with journalists in Abuja, Dr. Aguoru noted that unlike traditional currencies, cryptocurrencies were not backed by any government authority, which introduces unique financial risks. The eNaira, by contrast, is backed and regulated by the CBN, providing Nigerians with a digital currency that aligns with national financial standards and ensures stability. “The eNaira functions as a Central Bank Digital Currency (CBDC), which provides Nigerians with the benefits of digital payments while adhering to regulatory frameworks. Its value is pegged to the naira, making it a stable and secure means of transaction,” Dr. Aguoru explained. “Cryptocurrencies, while innovative, exhibit high volatility and unpredictable value swings. For instance, Bitcoin and other decentralised currencies have demonstrated price fluctuations that limit their effectiveness as a reliable store of value.” Aguoru also highlighted critical challenges in using cryptocurrencies as a standard currency, saying effective currency must function as a store of value, a unit of account, and a medium of exchange. “In order for a currency to fulfil these functions, it must have a stable value, consistent pricing metrics, and facilitate efficient transactions. Cryptocurrencies struggle to meet these standards,” Dr. Aguoru stated. “For example, Bitcoin’s high volatility makes it difficult for Nigerians to use it as a dependable medium for valuing goods and services. Slow transaction speeds and high fees also hinder its effectiveness as a practical payment method.” However, Dr. Aguoru acknowledged that one significant reason why many Nigerians were turning to cryptocurrencies is the perception of the Nigerian naira as an isolated currency. “At present, it is challenging for Nigerians to move funds directly from naira to other currencies and across borders, with many encountering difficulties in making transactions to Europe, the Americas, or even other African countries. This restriction, while protecting Nigeria from some sophisticated international fraud schemes, also limits financial flexibility and ease of cross-border transactions. “The difficulty of moving naira across borders creates a bottleneck, leading some Nigerians to turn to cryptocurrencies as an alternative for cross-border transactions,” Dr. Aguoru explained. “Cryptocurrencies offer a form of borderless money that traditional banking infrastructure has not yet achieved with the naira. Many Nigerians see crypto as a workaround for the barriers imposed by current systems.” He stressed that while there were security risks involved in enabling seamless currency transfers, the CBN could take steps to develop a regulated framework that allows Nigerians to transfer naira internationally. “The CBN should explore options to facilitate international naira transfers in a secure way, perhaps through controlled partnerships or technological advancements that protect against fraud,” he suggested. “If the CBN can offer a secure pathway for Nigerians to transfer funds across borders, it would reduce reliance on cryptocurrencies for this purpose, allowing users to operate within a regulated, safer financial ecosystem.” In contrast, the eNaira offers a regulated, efficient digital payment option with CBN backing, granting users the same level of confidence as they would have with cash. The CBN’s involvement provides both stability and a recourse mechanism, should issues arise with transactions or security, thus protecting consumers within Nigeria’s financial ecosystem, Dr. Aguoru explained. According to him,he is in support of the CBN’s decision to pursue a central bank digital currency in the form of the eNaira, which aligns Nigeria with global trends in financial innovation while securing national interests. “The eNaira is designed to enhance financial inclusion, facilitate digital transactions, and contribute to Nigeria’s evolving digital economy. By focusing on a central bank-backed digital currency, the CBN provides Nigerians with a secure and practical digital payment solution that safeguards their interests,” he remarked. He commended the CBN’s proactive approach to maintaining Nigeria’s economic stability through the eNaira, an inclusive, secure, and legally compliant digital currency.
US President-elect Donald Trump has announced that retired Army general Keith Kellogg will be his special envoy for Ukraine and Russia. Trump is scheduled to be sworn in as the 47th US president on January 20 next year. He has already announced dozens of names of future officials, some of whom need to be approved by the Senate first. “He was with me right from the beginning,” Trump wrote on his Truth Social platform on Wednesday, announcing Kellogg’s nomination. “Together, we will secure peace through strength and make America, and the world, safe again!” Kellogg served as chief of staff for the National Security Council during Trump’s first presidential term (2017-2021). He was a top aide to then-Vice President Mike Pence and acting national security advisor to Trump after the ouster of General Michael Flynn in February 2017. ”I don’t think World War III has begun, but we’re right on the precipice,” Kellogg told Fox News last week , after President Joe Biden authorized long-range missile strikes into Russia. He described the conflict as “the largest land war in Europe since the end of WWII,” where a single spark “can spin things right out of control, without even trying.” Kellogg did not criticize the White House for making the missile decision, however, saying that it would give Trump “more leverage” to negotiate come January. Richard Grenell, the former US ambassador to Germany and Trump’s former acting director of national intelligence, had also been a candidate for the job. According to Reuters, Kellog and another former Trump aide, Fred Fleitz, co-authored the proposal for ending the Russia-Ukraine conflict that Vice President-elect JD Vance outlined in a September interview. The plan would freeze the conflict along the current line of confrontation without recognizing Russia’s sovereignty over territories claimed by Ukraine, while putting off consideration of Kiev’s membership in NATO for a future date. Moscow would be forced to the negotiating table by a threat of US increasing its aid to Kiev, while Ukraine would get a promise of more American weapons if it agreed to the talks. Both Russia and Ukraine have dismissed the rumored proposal as a non-starter, however. Kellogg served in the US Army and was chief of staff of the 82nd Airborne Division during the first Gulf War (1990-1991). After the 2003 US invasion of Iraq, he was appointed chief operating officer of the occupation authority in Baghdad.The Emir of Zazzau, Malam Ahmed Bamalli in Zaria has said that the decision to demolish the city’s 188-year-old Malam Abdulkarim Central Mosque was a painful decision. The News Agency of Nigeria (NAN) reports that Bamalli, while speaking during the groundbreaking ceremony for the mosque’s reconstruction, said it was a decision which weighed heavily upon the Emirate Council. He said the decision was not made lightly but the emirate had no option than to take it as the safety of lives remained the Council’s top priority. “Your well-being and security have always been at the forefront of our thoughts and actions,” the Emir said. Bamalli commended the Kaduna State Government for supporting victims of the mosque’s collapse in 2023, and paying compensation for houses affected by the mosque’s expansion project, among other initiatives. He also lauded the highest donation of N2 billion by Alhaji Abdussamad Isyaka-Rabi’u through the ASR Africa and BUA Group. The Emir noted that the historic mosque, built in the 1830s, had served as a beacon of faith, community engagement and resilience. Earlier, Speaker of the House of Representatives, Dr Abbas Tajudeen, had said the collapsed mosque was one of the biggest and largest historical heritage of building technology in Nigeria. The Speaker, who is the member representing Zaria Federal Constituency and holder of the traditional title of “Iyan Zazzau”, said the central mosque’s rebuilding has an 18-month completion period. He, however, said the resources available would only be able to reach 50 per cent completion, urging philanthropists to donate generously for the timely completion of the gigantic project. The Speaker restated the commitment of the National Assembly towards supporting the timely completion of the project. In his remarks, Gov. Uba Sani of Kaduna State reiterated the state government’s continued commitment to supporting the project to ensure prompt completion. He added that the state government was in touch with key stakeholders towards generating more funds for the project. NAN reports that, on Aug. 11 in 2023, the 188-year-old mosque collapsed while hundreds of worshippers were observing afternoon prayers, killing seven worshippers and injuring many others.
A Charleston City Council committee failed to support a regional shelter plan that Mayor William Cogswell has pitched as a collaborative effort to tri-county leaders in order help garner their support for funding. Though a significant blow to one of the administration's first initiatives, the split vote during the Nov. 21 Community Development meeting doesn't appear to be the plan's death knell. The plan centers on two acres the city owns in the Neck Area, where Cogswell hopes to build a community of 118 steel containers that would serve as temporary shelter, each sleeping a single man. The city's Hope Center — a daytime resource center where those in need can get a hot meal, shower, clean clothing and access other services from mental health counseling to job training — would also relocate to the site and expand its operation to run the 24/7 regional effort. During the committee meeting, council members cited concerns that the shelter would only serve homeless men as opposed to vulnerable women and children, that the individual containers wouldn't have running water meaning the men would have to go outside to access shared bathrooms, and that the community is too dense. "We're creating legal encampments," said Councilmen William Dudley Gregorie. Charleston mayor asked local leaders to help with a shelter plan. They're still waiting for details. Another concern was that none of the other 29 municipalities that Cogswell hopes will participate in the initiative, and help spread out the cost, have backed it either. But Cogswell said he hoped Charleston would lead the way. "If we don't give it a vote of confidence, nobody else will," Cogswell said just before the 2-2 vote. The split vote means the motion to move the plan forward for consideration by the full 13-member council failed. Cogswell and Councilman Ross Appel voted in favor of the measure, while Gregorie and Councilman Jim McBride were opposed, saying they wanted more time and information. Councilman Robert Mitchell, who chairs the committee and represents the Neck Area where the shelter would go, did not vote. "We believe we can tweak the plan and make adjustments to meet some of the questions of City Council," Logan McVey, Cogswell's chief policy officer, later said in an email. "Despite having multiple presentations and having the agenda packet for a week, it seems like some members of the committee needed even more time to get the reading done that would have answered a lot of their questions." A nonprofit looks to ease Charleston's housing crisis with apartments, family shelter for homeless The committee meeting was the first comprehensive presentation Cogswell has given to council on the plan — a point of contention during a meeting last month when Gregorie and Mitchell, two of the city's longest-serving council members, accused the mayor of keeping council in the dark . Cogswell first announced plans to launch the regionwide effort in May , making it one of first initiatives of his administration. Since then, he's mentioned the regional shelter plan during a Sept. 10 City Council meeting, but that presentation primarily focused on the city's Operations Center, which will occupy the remainder of the parcel where the shelter is also proposed. The mayor unveiled site plans, and its costs, at an Oct. 1 informational meeting held at North Charleston City Hall. Representatives from Charleston, Dorchester and Berkeley counties, as well as leaders from North Charleston, Mount Pleasant, Summerville, Goose Creek, Folly Beach, James Island and Hollywood attended that meeting, which was open to the public. Besides Cogswell and his staff, only Councilman Karl Brady attended from Charleston. Those who work directly with the unhoused have said the plan is just a temporary fix that takes resources away from more permanent solutions: affordable housing. Charleston needs help from Lowcountry leaders for $5.5 million shelter plan. None are all-in yet. Cogswell emphasized that the effort is purposefully temporary, but that it will not replace more permanent housing solutions. Recently, the city has pledged millions toward adding to the affordable housing stock . He also added that he hoped this regional approach might lay the ground work for collaboration across jurisdictional lines to address not only housing, but also flooding and transportation issues. But without the city leading the way, Cogswell said: "I think this effort has frankly little chance for success." The mayor is asking regional leaders to help fund start-up costs of nearly $5.5 million, and an annual operating budget of around $1.5 million, which would be split among participating counties and municipalities based on their respective populations. Charleston, Dorchester and Berkeley counties would account for 35 percent of the total costs, and the remaining 65 percent would be covered by the 27 municipalities in those counties — if they all agree to participate. According to a breakdown Cogswell provided at the Nov. 21 meeting, Charleston taxpayers would be on the hook for the highest share at just under $1 million for the first year and about $275,000 annually after that. Charleston pledges $3.4 million to help build more than 170 new, affordable units But that's on top of another $4 million the city would spend to build a permanent structure to house the new Hope Center, which now carries the name of Cogswell's predecessor John Tecklenburg . The 8,000-square-foot building will serve as a resource hub for nonprofits and service providers, including housing specialists. Under Tecklenburg's administration, the outreach center was originally set to be located on Cunnington Avenue, behind which the city is building 99 affordable apartments. Cogswell said the city is still $5 million shy of its $10 million fundraising goal, which have ballooned because of rising construction costs. He said pivoting to his proposal "move would not only expedite the opening of a larger Tecklenberg Center, but also expand its operations significantly." Charleston paves the way to pay for Union Pier redevelopment, but construction is still far off The center is currently located in rundown building on Meeting Street. It's open 9 a.m. to 5 p.m. Monday through Wednesday and on Friday from 9 a.m. to noon. It is closed on Thursdays and weekends. Cogswell's plan would see the center open 24/7, which means it "would have a much higher overhead," he told the committee. "But again with everybody contributing, makes it a lot more affordable." Without regional partners, Cogswell said he would no longer support his own plan, leaving the future of the Hope Center in limbo. Here's what Charleston city and county employees make in 2024 Several municipalities say they still have not heard from Cogswell's administration about details of the plan, though city officials said information — the same 60-page packet provided in the city's committee agenda — went out to "every municipality and government in the tri-county region last week." The packet goes into detail about the services the regional shelter will offer and outlines how those who are referred there could transition to more permanent housing. However, it doesn't explain the nonprofit structure that Cogswell says will oversee the regional effort, leaving unanswered questions for area leaders who may, or may not, want to pitch the plan to their respective boards or councils.
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