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The Fund of Many Names
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Eden Site Contamination
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We need a complete hearing to answer critical questions about contamination under the Eden Housing site.
Livermore City Council approved $245,000 thousand dollars for more testing. This is just the tip of the iceberg. Clean-up activities will require a separate contract. Clean-up would involve the installation and monitoring of extraction wells, blowers, and possible soil excavation. What are total cleanup costs, including monitoring for several years? A million? More than a million? The City report says funding will come from Capital Improvement Funds. But who funds Capital Improvement Funds? Does this come from the General Fund? If so, this means current residents -not Eden - are going to pay for clean-up. Residents may want their tax dollars to be spent on other projects. We need a complete breakdown of funding sources and amounts. Â
A rebound in US stocks following a three-day rout and easing of US bond yields and inflationary concerns may give domestic stocks a positive start on Friday. Upbeat sentiment in other Asian markets, and back home, data showing an improvement in factory output and fall in retail inflation may help stocks log gains.
Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 172.5 points, or 1.19 per cent, higher at 14,680, signaling that Dalal Street was headed for a positive start on Friday.
Tech view: Nifty resistance at 15,000-15,050
Nifty on Wednesday fell below the 14,700 level, and in the process breached a few crucial supports, including the 50-day moving average. The index ended up forming a Bearish Belt Hold pattern, which suggested bear domination over the bulls. Analysts said the next support for the index lies in the 14,620-14,600 range. They continue to see resistance for the index in the 15,000-15,050 zone.
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