House and Senate Democrats moved Monday to redirect more than half a billion dollars headed for the state’s long-term savings account and instead use it to close a budget gap and fund some additional spending. Lawmakers surfaced and quickly approved their final plan ( H 5132 ) for closing the state’s financial books on fiscal 2024, sending it to Gov. Maura Healey’s desk minutes before Beacon Hill budget-writers formally kicked off the process of planning for fiscal 2026. The newly approved “closeout” budget has a $701.2 million bottom line, with a projected net cost to the state of $133.6 million after federal reimbursements, according to a House Ways and Means Committee official. The proposed appropriations address accounts underfunded in the annual budget and fill a fiscal 2024 budget gap that materialized in part due to non-income surtax revenue collections that didn’t hit projections, leaving a shortfall of about $233 million. Legislative Democrats moved Monday to bridge the shortfall and fund some spending by using more than half a billion dollars that would have otherwise flowed into a state savings account. Each year, capital gains tax revenues above a certain level are split up with 90% deposited into the state’s “rainy day” stabilization fund, 5% used to fund pensions, and 5% used for other post-retirement benefits. The new spending bill would dramatically change that formula on a one-time basis. It would steer 85% of excess capital gains — about $502 million — to the general fund, and direct only 5% or $29.5 million to the stabilization fund, according to the House Ways and Means official. Pensions and other post-retirement benefits would each receive the same 5% as the traditional formula. That’s a shift from the approach the House and Senate first sought to take. The original House bill directed 47% of excess capital gains revenue to the General Fund and 43% to the stabilization fund. The original Senate bill sought to use 15% of excess capital gains revenue for the General Fund, and would have steered higher shares toward pensions and other post-retirement benefits. Healey proposed navigating the gap by using surtax collections that surpassed projections to backfill education- and transportation-related spending in fiscal 2024, freeing up originally appropriated dollars to plug the hole. But Healey also agreed to use capital gains tax collections as a similar type of backstop in the current cycle. The fiscal 2025 budget she signed in July allows the state to divert up to $375 million in excess capital gains tax revenue from the rainy-day pipeline and instead use it to balance the books for the cycle that runs from July 1, 2024 to June 30, 2025. After previously drawing scrutiny from ratings agencies for dipping into the rainy day fund, Beacon Hill in recent years has worked to build up a sizable nest egg and resisted calls to spend its more than $8 billion balance. A House Ways and Means committee official said the funding shuffle will also allow about $162 million to be swept into the Student Opportunity Act reserve fund, which helps pay for increases in K-12 state aid outlined in a 2019 law, bringing its balance to about $460 million. Spending in the bill would flow to a range of areas, including $7.3 million for the Residential Assistance for Families in Transition program, $8.7 million for the state’s universal school meals program, and $2.5 million to cover start-up costs for online Lottery games. The vast majority of the spending, about $565 million, would go to MassHealth. Senate Democrats previously estimated that line item would carry a $0 net cost to the state after federal reimbursements. Healey will get 10 days to review the bill. Lawmakers were once again weeks late on completing the closeout budget, at least according to deadlines written into statute. The state comptroller by law is supposed to file a key financial report by Oct. 31, but cannot do so until the governor signs into law a closeout budget. Lawmakers have made a habit in recent years of blowing past that date and delaying the comptroller’s work as a result. Michlewitz and Rodrigues have completed a closeout budget before Oct. 31 only once in their six cycles as Ways and Means Committee chairs. Alison Kuznitz and Sam Drysdale contributed reporting.NEW YORK , Dec. 2, 2024 /PRNewswire/ -- Tannenbaum Helpern is pleased to announce that Anne-Mette Elkjær Andersen has joined the Firm as partner in the Firm's Corporate practice. Anne-Mette is a highly qualified corporate attorney focusing on cross border and U.S. mergers and acquisitions, international business transactions, and corporate transactions and corporate compliance for engineering & architecture firms. Her decades of experience include advising clients on strategic purchases and sales in many sectors, including engineering, architecture, and other licensed professional design professions; defense; software; renewable energy; oil and gas; technology; retail and manufacturing; service; aviation; and shipping and rail, among others. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

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TrutanklessTM Shipping GEN3: Redefining Electric Tankless Water HeatingKlarman Fellow wins Middle East Studies dissertation awardNEW YORK — Stoli Group USA, the owner of the namesake vodka , has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 million and $100 million in liabilities. Stoli vodka and Kentucky Owl bourbon will continue to be available on store shelves while the company navigates the Chapter 11 process, which only pertains to its U.S. business. Until 2022, Stoli was sold as Stolichnaya in the United States, which loosely translates to “capital city” in Russian. The company shortened its title following Russia’s invasion of Ukraine and boycotts against Russian-branded vodkas . Stoli Group’s founder, Russian-born billionaire Yuri Shefler, was exiled from that nation in 2000 because of his opposition to President Vladimir Putin. Intel announced on December 2 that CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals. The liquor has long been marketed as a Russian vodka, but its production facilities have been in Latvia for several decades. Stoli Group is a unit of Luxembourg-based SPI Group, which owns other spirit and wine brands. “The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years ago,” said Stoli Group CEO Chris Caldwell in a statement. “Earlier this year the company and our owner were both named by the Russian state as ‘extremist groups working against Russia’s interests.’” Its ongoing legal battle with the Russia government has forced Stoli to “spend dozens of millions of dollars on this long-term court battle across the globe with the Russian authorities,” according to its court filing. Caldwell also said that Stoli’s global operations has been a “victim of a malicious cyber attack” that has forced the company to operate “entirely manually while the systems are rebuilt.” A slowdown in demand for alcohol has crushed several company’s bottom lines following the pandemic when people were stuck at home and stocked up. Stoli’s filings said that it has seen a “decline and softening of demand for alcohol and spirits products post-Covid and especially beginning in 2023 and continuing into 2024.” Stoli Group USA, maker of Stoli vodka, has filed for bankruptcy due to slowing demand for spirits, a major cyberattack, and ongoing legal battles with Russia. The-CNN-WireTM & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved. Get the latest local business news delivered FREE to your inbox weekly.

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NoneNEW YORK — Stoli Group USA, the owner of the namesake vodka , has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 million and $100 million in liabilities. Stoli vodka and Kentucky Owl bourbon will continue to be available on store shelves while the company navigates the Chapter 11 process, which only pertains to its U.S. business. Until 2022, Stoli was sold as Stolichnaya in the United States, which loosely translates to “capital city” in Russian. The company shortened its title following Russia’s invasion of Ukraine and boycotts against Russian-branded vodkas . Stoli Group’s founder, Russian-born billionaire Yuri Shefler, was exiled from that nation in 2000 because of his opposition to President Vladimir Putin. Intel announced on December 2 that CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals. Craig Barritt/Getty Images via CNN Newsource Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | Stitcher | RSS Feed | SoundStack | All Of Our Podcasts The liquor has long been marketed as a Russian vodka, but its production facilities have been in Latvia for several decades. Stoli Group is a unit of Luxembourg-based SPI Group, which owns other spirit and wine brands. “The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years ago,” said Stoli Group CEO Chris Caldwell in a statement. “Earlier this year the company and our owner were both named by the Russian state as ‘extremist groups working against Russia’s interests.’” Its ongoing legal battle with the Russia government has forced Stoli to “spend dozens of millions of dollars on this long-term court battle across the globe with the Russian authorities,” according to its court filing. Caldwell also said that Stoli’s global operations has been a “victim of a malicious cyber attack” that has forced the company to operate “entirely manually while the systems are rebuilt.” A slowdown in demand for alcohol has crushed several company’s bottom lines following the pandemic when people were stuck at home and stocked up. Stoli’s filings said that it has seen a “decline and softening of demand for alcohol and spirits products post-Covid and especially beginning in 2023 and continuing into 2024.” Stoli Group USA, maker of Stoli vodka, has filed for bankruptcy due to slowing demand for spirits, a major cyberattack, and ongoing legal battles with Russia. CheddarBOSTON (AP) — A Massachusetts judge dismissed criminal charges Monday against a backer of Karen Read who admitted placing dozens of yellow rubber ducks and fake $100 bills around town in support of Read. Richard Schiffer Jr. had argued in Stoughton District Court that he had a First Amendment right to support the defense theory that Read — accused of ramming into her boyfriend John O’Keefe with her SUV and leaving the Boston police officer to die in a snowstorm — has been framed in the polarizing murder case. Schiffer's attorney Timothy Bradl said Monday that the judge made the right call by quickly tossing the felony witness intimidation and criminal harassment charges against Schiffer. The ruling comes as another judge decided Monday to push back Read's retrial to April after a mistrial was declared in July when jurors couldn’t reach an agreement. Read was facing second-degree murder charges and two other charges. Her attorneys have argued that other law enforcement officers were responsible for O’Keefe’s death. Regarding Schiffer's charges, Bradl said, “There wasn't a leg to stand on.” “Hats off to the judge. He didn’t make everyone wait and ruled from the bench. Everything was completely protected by the First Amendment. This was political speech," Bradl said. The Norfolk District Attorney’s office declined to comment. Schiffer has said he got the ducks idea after thinking about a defense lawyer’s closing argument that Read was framed . Alan Jackson told jurors that “if it walks like a duck and talks like a duck, it’s a duck.” Schiffer's actions did not rise to the level of witness intimidation and criminal harassment "nor does his speech, or in this case his written word on fake currency and use of rubber toys, which are afforded the protections of the First Amendment," Judge Brian Walsh wrote. “It is the view of this Court that the defendant's conduct and speech, though a rather sophomoric expression of his opinion, is nonetheless protected speech,” he wrote. Walsh concluded the two-page ruling with quotes from Indiana poet James Whitcomb Riley, believed to have coined the “walks like a duck” phrase, and Robert McCloskey, author of the children's book “Make Way For Ducklings.” The defense alleged that O’Keefe was actually killed inside the home of his fellow Boston officer Brian Albert and then dragged outside. They argued that investigators focused on Read because she was a “convenient outsider” who saved them from having to consider law enforcement officers as suspects. Schiffer has been among the dozens of Read supporters who accuse state and local law enforcement of a widespread cover-up. Their demonstrations have led to confrontations, especially in the town of Canton where the murder happened, between those who support Read and others who believe she is guilty. Schiffer, who owns Canton Fence and has said that he knows practically everyone in town through his contracting work, was accused of placing some of the ducks outside a pizza shop run by Brian Albert’s brother, Canton Selectman Chris Albert. Other ducks appeared in O’Keefe’s neighborhood.

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Boise State football’s love affair with the Fiesta Bowl could gain a major new chapter as we usher out 2024. The College Football Playoff committee released its final rankings on Sunday morning, setting the bracket for the 12-team playoffs in stone. The Broncos will play at 5:30 p.m. Mountain time on New Year’s Eve in the quarterfinals. Boise State came in at No. 9 overall in the rankings, but because the Broncos were among the four highest-ranked conference champions, they earned a first-round bye, and even slotted in as the No. 3 seed by being higher in the CFP Top 25 than two Power 4 league winners: the Big 12’s Arizona State and the ACC’s Clemson. That sets Boise State up for a fourth Fiesta Bowl appearance in program history. The Broncos are 3-0 in that game, most recently winning in 2014, when they defeated Arizona 37-30. The most famous victory came 43-42 over Oklahoma on Jan. 1, 2007, and there also was the Jan. 4, 2010, win over TCU by a 17-10 score. Those wins both completed undefeated seasons, but this time around, Boise State actually will have a chance to compete for a national championship. There’s another difference, too: When those past Fiesta Bowls were announced, the team immediately knew its opponent. Because of its bye, Boise State must wait to see who wins a first-round matchup between No. 6 Penn State and No. 11 SMU to learn its foe in the Dec. 31 game in Glendale, Arizona. Boise State redshirt sophomore quarterback Maddux Madsen said he’d kind of prefer to play Penn State because of the school’s “rich tradition of football.” The Nittany Lions, who will host the game against SMU, opened as an 8.5-point favorite . Here’s what to know about the two schools and what they bring to the table. The obvious attraction on paper, no matter who wins, will be a rushing game showdown: Boise State superstar Ashton Jeanty and a strong offensive line vs. a top-ranked run defense. No. 6 Penn State Penn State finished the season 11-2. The Nittany Lions played three ranked teams this season, beating then-No. 19 Illinois in late September, and losing to Ohio State in November and to No. 1 Oregon in the Big Ten championship game. The Nittany Lions lost 45-37 to the undefeated Ducks on Saturday afternoon. Boise State also played Oregon in the regular season, losing 37-34 on a last-second field goal. That means Penn State’s best win of the year came against Illinois, which finished No. 20 in the final CFP rankings. The Nittany Lions also had a come-from-behind 26-25 win over Minnesota, which finished 7-5 and tied for seventh place in the Big Ten. The Illini finished 9-3 and tied for fifth in the conference. Despite this, Penn State was actually No. 4 in the final CFP rankings before slotting into the 6 seed in the bracket, one spot ahead of one-loss Notre Dame, which beat four Top 25 teams; two spots ahead of Ohio State, which had the head-to-head win over the Nittany Lions and also beat Indiana, another playoff team; and three spots ahead of Tennessee, which beat Alabama and two other teams when they were in the Top 25. Penn State ranks 25th in the nation for scoring offense, averaging 33.6 points per game. That’s almost a touchdown behind Boise State, which averages 39.1 points per game to rank fourth in the nation. The Nittany Lions’ quarterback is junior Drew Allar, who is in his second season as the starter. He’s thrown for 2,894 yards and 21 touchdowns in 2024, with seven interceptions. Allar’s favorite target is tight end Tyler Warren, who’s got 1,062 yards on 88 receptions — the next closest player is wide receiver Harrison Wallace III, who had 638 yards on just 39 catches. The real danger for Penn State comes from its two-headed rushing attack. The Nittany Lions have two running backs — Nicholas Singleton and Kaytron Allen — who have rushed for over 800 yards this season. Of course, those totals pale in comparison to Boise State junior running back Ashton Jeanty, who has 2,497 yards to lead the nation. But Penn State has the nation’s No. 9 rushing defense, allowing just 103.6 rushing yards per game. And that defense held eight opponents to 13 or fewer points this season. No. 11 SMU SMU grabbed the final at-large playoff berth in somewhat of a surprise, after staging a second-half comeback before falling to three-loss Clemson 34-31 on a last-second field goal in the ACC championship game Saturday night. The Mustangs finished the year 11-2 and got in over the likes of fellow ACC member Miami (10-2) and perennial playoff team Alabama, which went 9-3 but had higher-quality wins on its resume — as well as much worse losses. The Mustangs were unbeaten in ACC play in the regular season, but they did not face Miami, Clemson or Syracuse — the other top teams in the standings. SMU’s only other loss was also by three points, 18-15 to BYU (10-2) in early September. The Mustangs’ best wins would be hammering then-unbeaten Pittsburgh (7-5) by a 48-25 score, and a 34-27 victory over then-No. 22 Louisville (8-4). They also beat a 9-3 Duke squad, but they don’t boast a win over a single team in the final CFP rankings. The Mustangs are led by redshirt sophomore quarterback Kevin Jennings. He surpassed the 3,000-yard mark on the season with his efforts Saturday night against Clemson (304 yards, three TDs) and has thrown 22 touchdowns and eight interceptions. Jennings is also shifty on his feet, rushing for 464 yards this season. The Broncos are used to that and have done well against some dual-threat quarterbacks, holding Washington State’s John Mateer to 28 rushing yards and keeping UNLV’s Hajj-Malik Williams in check in the Mountain West title game, until Williams had a big scramble late in the game to reach 56 rushing yards. The Mustangs are even better than Penn State at stopping the run. They rank fourth in the nation in rushing defense, holding opponents to 93.4 yards per game. But their passing defense is nothing to write home about, yielding 232.7 yards per game to rank 92nd in the nation. This story was originally published December 8, 2024, 4:26 PM. Boise State earns first-round playoff bye, slots into Fiesta Bowl. Here are seeds, matchups Ready to alter New Year’s Eve plans to go to Fiesta Bowl, Boise State fans? Act fast