Connect with us

News

Sabra Health Care REIT, Inc.’s Settlement Agreement with Senior Care Centers Approved by Bankruptcy Court

gbafNews28

Sabra Health Care REIT, Inc. (Sabra, the Company or we) (Nasdaq: SBRA) today announced that the settlement agreement between the Company and Senior Care Centers has been approved by the bankruptcy court.

As previously announced, Sabra entered into agreements to sell 28 facilities owned by Sabra and currently operated by Senior Care Centers (the Senior Care Centers Sale Facilities) for $282.5 million and to discharge our claims against Senior Care Centers in exchange for certain settlement payments from Senior Care Centers as well as their assistance in facilitating an orderly transfer of the Senior Care Centers Sale Facilities to the proposed buyers designated operators.

The settlement agreement with Senior Care Centers has now been approved by the bankruptcy court providing for, among other things, payments to Sabra totaling $9.5 million, of which $5 million will be payable concurrently with the sale and associated transition of the Senior Care Centers Sale Facilities scheduled to close on April 1, 2019, with the remaining $4.5 million to be paid on or before July 1, 2019. In connection with these settlement payments, the Company will recognize $6.2 million of post-petition rent.

ABOUT SABRA

Sabra Health Care REIT, Inc. (Nasdaq: SBRA), a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (a “REIT”) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry. Sabra leases properties to tenants and operators throughout the United States and Canada.

FORWARD-LOOKING STATEMENTS SAFE HARBOR

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified, without limitation, by the use of expects, believes, intends, should or comparable terms or the negative thereof. Examples of forward-looking statements include our expectations regarding the timing of the closing of the sale of the Senior Care Center Sale Facilities and the timing and amount of the related settlement payments payable by Senior Care Centers.

Our actual results may differ materially from those projected or contemplated by our forward-looking statements as a result of various factors, including among others, the following: our dependence on the operating success of our tenants; operational risks with respect to our Senior Housing – Managed communities; the effect of our tenants declaring bankruptcy or becoming insolvent; our ability to find replacement tenants and the impact of unforeseen costs in acquiring new properties; the impact of litigation and rising insurance costs on the business of our tenants; our ability to implement the previously announced rent repositioning program for certain of our tenants who were legacy tenants of Care Capital Properties, Inc. on the timing or terms we have previously disclosed; our ability to dispose of or transition facilities currently operated by Senior Care Centers on the timing or terms we have previously disclosed; the possibility that Sabra may not acquire the remaining majority interest in the Enlivant joint venture; our ability to transition the facilities currently leased to Holiday Retirement (Holiday) to Senior Housing – Managed communities operated by Holiday on the timing or terms we have previously disclosed; risks associated with our investments in joint ventures; changes in healthcare regulation and political or economic conditions; the impact of required regulatory approvals of transfers of healthcare properties; competitive conditions in our industry; our concentration in the healthcare property sector, particularly in skilled nursing/transitional care facilities and senior housing communities, which makes our profitability more vulnerable to a downturn in a specific sector than if we were investing in multiple industries; the significant amount of and our ability to service our indebtedness; covenants in our debt agreements that may restrict our ability to pay dividends, make investments, incur additional indebtedness and refinance indebtedness on favorable terms; increases in market interest rates; our ability to raise capital through equity and debt financings; changes in foreign currency exchange rates; the relatively illiquid nature of real estate investments; the loss of key management personnel; uninsured or underinsured losses affecting our properties and the possibility of environmental compliance costs and liabilities; the impact of a failure or security breach of information technology in our operations; our ability to maintain our status as a real estate investment trust (REIT); changes in tax laws and regulations affecting REITs (including the potential effects of the Tax Cuts and Jobs Act); compliance with REIT requirements and certain tax and tax regulatory matters related to our status as a REIT; and the ownership limits and takeover defenses in our governing documents and under Maryland law, which may restrict change of control or business combination opportunities.

Additional information concerning risks and uncertainties that could affect our business can be found in our filings with the Securities and Exchange Commission (the SEC), including Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2018. We do not intend, and we undertake no obligation, to update any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, unless required by law to do so.

Investor & Media Inquiries: 1-888-393-8248 or [email protected]

News

CUHK Business School Research Finds People Adapt and Grow More Conscientious When Promoted to Supervisory Roles at Work

gbafNews28

HONG KONG SAR – Media OutReach – 14 January 2021 – “It’s not who I am underneath, it’s what I do that defines me,” so says the titular hero from the 2005 blockbuster, Batman Begins, starring Christian Bale as the billionaire caped crusader. Instead of the hero Batman, a group of academics were inspired by what is probably one of the more profound lines in modern cinema and sought to find out whether people, as the quote suggests, do shape fundamentally who they are.

 

Specifically, it led Wendong Li, Associate Professor at the Department of Management at The Chinese University of Hong Kong (CUHK) Business School, to team up with seven other academics to examine whether taking on a leadership role — along with the added job responsibilities — can actually change people’s personality traits.

 

Prof. Li and the other researchers involved in the study, Can Becoming a Leader Change Your Personality? An Investigation With Two Longitudinal Studies From a Role-Based Perspective, hoped to find evidence that, rather than personality traits remaining relatively stable as traditionally assumed, they could change and develop during a person’s adult years.

 

“One of the crucial factors in driving adult personality development is taking on new roles at work,” he says. “As they take on wider responsibilities and play more important roles in organisations, novice leaders are expected to be more conscientious than when they were employees — more efficient, organised, vigilant, achievement-oriented, and dependable to subordinates.”

 

“Fulfilling the expectations and responsibilities required by leadership roles also means leaders must deal effectively with uncertainties and changes. Therefore, leaders need to be able to remain calm, and handle negative emotions in response to stress.”

 

The Big Five

The academics looked for changes in two of the so-called “Big Five” personality traits: conscientiousness, the tendency to be dependable, achievement oriented, reliable, organized, and to carry out one’s job or duty well and thoroughly — one of the best predictors of both leadership and job performance — and emotional stability, another desirable trait among leaders, which means a person can remain calm and deal with stressful situations and handle adversity effectively. The other traits in the Big Five are openness to experience, extroversion and agreeableness.

Prof. Li carried out the research alongside Prof. Shuping Li of Hong Kong Polytechnic University, Prof. Jie Feng of Rutgers University, Prof. Mo Wang of University of Florida, Prof. Michael Frese of the Asia School of Business and Leuphana University of Lueneburg, Prof. Chia-Huei Wu of the University of Leeds, as well as CUHK Business School PhD candidate Hong Zhang.

 

They tested their ideas in two studies using publicly available U.S. and Australian databases, which compared the personality development of individuals at different stages over lengthy periods. People were split into a “becoming leaders group”, for employees who were promoted into leadership roles, and a “non-leaders group” for those staff who remained as employee across time.

 

The research found that moving into leadership roles led to an increase in a person’s conscientiousness, and found no significant changes in people’s emotional stability in either study.

 

“The results of the two studies supported our hypotheses regarding the relationship between becoming a leader and the subsequent small, but substantial increases in levels of conscientiousness over time and the mediating effect of changes of job demands,” Prof. Li says.

 

They shed light on what, how and why personality traits change over time after a person takes on a supervisory role, and why the characteristics develop after people take on jobs where they face increased demands.

 

Prof. Li said insights gained from this research will help businesses better manage career development and plan leadership succession — a crucial issue for the sustainability of organisations.

 

“We suggest organisations consider assigning staff with informal leadership roles as a way to encourage them to develop management capabilities,” he says. “This may help them to develop the types of behaviour and traits associated with conscientiousness and prepare them for their future tasks.”

 

“We also encourage organisations to broaden the scope and content of training to include personality development and also focus on more holistic forms of leadership development.”

 

Personality Shifts

One study consisted of 61 people in the becoming leaders group and 128 in the non-leaders group and used U.S. data selected from three different time periods — firstly between 1995 and 1996, then after 10 years and finally after 20 years. The other study comprised 342 people in the leaders group and 675 in the non-leaders group, and used Australian data selected at four-year intervals from 2005, 2009 and 2012.

 

“Consistently, results from both of the studies showed that after becoming leaders, individuals enhanced their levels of conscientiousness and became more dependable, organised and efficient,” Prof. Li says. “For them to carry out these leadership roles successfully over time may lead them to become so used to adopting such behaviours that they become a habit and then ingrained as personality traits.”

 

He says the study could stimulate further research into the idea that “people are both producers and products of social systems”.

 

Earlier studies had examined influences of major life events, such as nailing a first job, marriage, and unemployment on personality development, and the influences of job satisfaction, characteristics, insecurity, income and occupational status. But the latest study extends this line of research by examining personality development after becoming a leader and, more importantly, a change in job demands, Prof. Li says. “Although personality traits are relatively stable, they were also prone to change — even if the transformation is not always dramatic.

 

“Not all people react to a change in the same way and what we discovered in this paper was a general trend. Future research can examine individual differences in the speed, timing, and magnitude of personality changes.”

 

The researchers highlighted two concerns. Firstly, previous research suggests that highly conscientious staff may not be able to adapt well to new environments and will lack the necessary creativity. Secondly, companies may need to provide training to leaders to help them balance the benefits and possible disadvantages — such as a more volatile working environment and reduced flexibility — associated with increases of conscientiousness.

 

The latest research, therefore, has important implications for employees when managing their future careers. “People need to weigh up the benefits and costs of taking on a management role,” Prof. Li says.

 

“Although promotion will lead to them developing greater levels of conscientiousness at work over time, it can also see them become less adaptable and creative. Taking on extra job demands may also increase the levels of stress they face and have a detrimental effect on their wellbeing.”

 

Reference:

Li, W.-D., Li, S., Feng, J. (J.), Wang, M., Zhang, H., Frese, M., & Wu, C.-H. (2020). Can becoming a leader change your personality? An investigation with two longitudinal studies from a role-based perspective. Journal of Applied Psychology. Advance online publication. https://doi.org/10.1037/apl0000808

 

This article was first published in the China Business Knowledge (CBK) website by CUHK Business School: https://bit.ly/38zsriM.

About CUHK Business School

CUHK Business School comprises two schools — Accountancy and Hotel and Tourism Management — and four departments — Decision Sciences and Managerial Economics, Finance, Management and Marketing. Established in Hong Kong in 1963, it is the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, the School offers 10 undergraduate programmes and 18 graduate programmes including MBA, EMBA, Master, MSc, MPhil and Ph.D.

In the Financial Times Global MBA Ranking 2020, CUHK MBA is ranked 50th. In FT‘s 2020 Executive MBA ranking, CUHK EMBA is ranked 15th in the world. CUHK Business School has the largest number of business alumni (40,000+) among universities/business schools in Hong Kong — many of whom are key business leaders. The School currently has more than 4,800 undergraduate and postgraduate students and Professor Lin Zhou is the Dean of CUHK Business School.

More information is available at http://www.bschool.cuhk.edu.hk or by connecting with CUHK Business School on:

Facebook: [View Image]www.facebook.com/cuhkbschool

Instagram: www.instagram.com/cuhkbusinessschool

LinkedIn: [View Image]http://www.linkedin.com/school/cuhkbusinessschool

WeChat: CUHKBusinessSchool

Continue Reading

News

Bears in the air: DHL flies two Himalayan brown bears to their new homes

gbafNews28

  • The two highly-endangered bears are settling in Al Ma’wa for Nature and Wildlife in Jordan after a temperature-controlled multimodal journey from Islamabad
  • DHL took care of the customs clearance and logistics, while global animal welfare organization FOUR PAWS provided animal expertise

 

SINGAPORE – Media OutReach – 14 January 2021 – Bubloo and Suzie, two 17-year old highly-endangered Himalayan brown bears, took the flight of a lifetime and have safely arrived at Al Ma’wa for Nature and Wildlife in Jordan. After months of extensive preparation, which included health checks, planning of routes, customs clearance and training for the bears, DHL Global Forwarding and FOUR PAWS, a global animal welfare organization, brought Bubloo and Suzie to their new home on 17 December.

[View Image]

 

“Being able to leverage our logistics expertise, temperature-controlled capabilities and customs clearance solutions to help animals, such as Bubloo and Suzie, relocate brings another perspective to our mission of “Connecting People, Improving Lives”. The successful move, like so many others that we have done, might have required more elaborate planning but brought the teams so much satisfaction. We are glad that the bears are settling in their new home in time to ring in the New Year,” said Kelvin Leung, CEO, DHL Global Forwarding Asia Pacific.

 

The freight forwarding specialist of Deutsche Post DHL Group managed the logistics of flying the animals, while veterinary specialists from FOUR PAWS, who accompanied them on the same flight, provided insights to make the journey comfortable for the bears. DHL chauffeured Bubloo and Suzie, weighing 120 kilograms and 90 kilograms respectively, to the Islamabad International Airport in custom-built cages that adhere to the International Air Transport Association’s regulations. From there, they boarded their flight to Jordan with a short layover in Doha.

 

“We are pleased to report that, after their first-class flight experience that ended at the Queen Alia International Airport, Bubloo and Suzie are thriving in their new home. The months of detailed planning with DHL in coordination with local Pakistan officials and the financial help of American businessman Eric S. Margolis, have paid off as the bears begin to build their new lives at Al Ma’wa for Nature and Wildlife, a sanctuary run by the Princess Alia Foundation and FOUR PAWS,” said Dr. Amir Khalil, FOUR PAWS veterinarian and leader of the rescue mission.

 

On 30 November, DHL and FOUR PAWS relocated Kaavan, also known as the world’s loneliest elephant, from the Marghazar Zoo in Islamabad to the Cambodia Wildlife Sanctuary. In previous years, DHL successfully helped four grown endangered Ussuri brown bears travel across continents from Japan to England, and sent two giant pandas on a climate-neutral journey from China to Finland.

 

Note to editors:

Kaavan, a 36-year old Asian elephant, was the first-ever adult elephant that was flown out of Pakistan. Here’s a behind-the-scenes look at the logistics that moved the Asian elephant, which was kept captive for decades in a Pakistan Zoo, to a Cambodian wildlife sanctuary to live out its days in comfort and good company.


DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

 

DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 63 billion euros in 2019. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve zero-emissions logistics by 2050.

Continue Reading

News

KEF Creates Maximum Bass in Minimum Space with New Uni-Core Technology

gbafNews28

MAIDSTONE, KENT – Media OutReach – 14 January 2021 – KEF has created a completely new take on subwoofer and speaker designs with the innovative Uni-Core technology. The patent-pending Uni-Core technology delivers ultra-compact size and mighty performance, creating the audio lover’s dream of a powerful but discreet subwoofer or speaker. The new Uni-Core technology, developed by KEF, redefines the size versus performance battle in an unprecedented triumph of quality sound. The technology enables high-level performance whilst reducing the subwoofer or speaker cabinet volume significantly. The evolution of KEF’s technology has been met with KEF’s unwavering desire to create a timeless design with forward-thinking acoustic inventiveness.

Acknowledging the ambition to create an aesthetically pleasing piece of audio equipment to complement our living room, it was also imperitive that KEF not only maintain but excel in their provision of accurate and deep bass. With this aim of desirable aesthetics and uncompromising performance the first challenge was how to fit two drivers into a compact cube enclosure. “To deliver deep and loud bass from a compact product is a big engineering challenge. The Uni-core is a breakthrough technology for KEF because it allows us to pack two drivers into a tighter space without compromising their performance.” – Dr Jack Oclee-Brown, Head of Research & Development at KEF.

With the new Uni-Core topology, dual force-cancelling drivers provide bass performance from less space by means of concentrically arranged, overlapping voice coils. Furthermore, Uni-Core allows a single motor to energise both cones. The coils are different sizes on each cone, which means when the cones move backwards the coils can occupy the same space within the cabinet. Overall it means that the physical cabinet can be extremely compact and significantly reduced in volume compared to using conventional driver technology.

The space saved allows the drivers to have far more excursion than an equivalent-sized force-cancelling design, unlocking more output and depth from much less space. This patent-pending technology smoothly delivers the aspirational design and audio excellence.

 

Notes to Editors: Uni-Core technology

  • Patent-pending Uni-Core technology redefines the physical space required for high-performance speakers and subwoofers
  • Uni-Core combines the dual force-cancelling drive units into a single motor system with the overlapping voice coils concentrically arranged thus reducing the size of the speaker or subwoofer cabinet significantly
  • The new Uni-Core technology will be applied in an upcoming new KEF product to be announced this month

 

To discover more on KEF, please visit: https://kef.world/zez

#KEF #KEFListenandbelieve #KEFTech #KEFUniCore

About KEF

KEF was founded in 1961 by Raymond Cooke OBE (1925–1995). Headquartered, in those early years, in a Nissen Hut on the premises of Kent Engineering & Foundry in the UK, after more than half a century at the cutting edge of audio the company remains committed to excellence in sound. From ground-breaking Uni-Q technology to the bar-setting LS50 Wireless, KEF’s flair for the unusual — and sometimes controversial — balances an obsession with design in harmony with the most innovative engineering. KEF’s reputation for quality is founded on a refusal to compromise on aural authenticity or experience.

www.kef.com

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call for Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Posts

gbafNews28 gbafNews28
News3 mins ago

Rhotex Inc Launches Environmentally-Sound Options to Crypto Mining

TORONTO, ON – EQS Newswire – 14 January 2021 – Rhotex has officially launched 3 miner cases configured with an in-built...

gbafNews28 gbafNews28
News3 mins ago

Johnson Electric reports Business and Unaudited Financial Information for the Third Quarter of Financial Year 2020/21

HONG KONG SAR – Media OutReach – 14 January 2021 – This news release is made by Johnson Electric Holdings...

gbafNews28 gbafNews28
News3 mins ago

KEF Creates Maximum Bass in Minimum Space with New Uni-Core Technology

MAIDSTONE, KENT – Media OutReach – 14 January 2021 – KEF has created a completely new take on subwoofer and speaker designs with the...

gbafNews28 gbafNews28
News3 mins ago

Bears in the air: DHL flies two Himalayan brown bears to their new homes

The two highly-endangered bears are settling in Al Ma’wa for Nature and Wildlife in Jordan after a temperature-controlled multimodal journey...

gbafNews28 gbafNews28
News3 mins ago

CUHK Business School Research Finds People Adapt and Grow More Conscientious When Promoted to Supervisory Roles at Work

HONG KONG SAR – Media OutReach – 14 January 2021 – “It’s not who I am underneath, it’s what I do that...

gbafNews28 gbafNews28
News3 mins ago

Marine Stewardship Council: Assortment of top chefs combine for sustainable seafood cookbook

The collaboration aims to encourage shoppers to make the best environmental choice when buying the seafood they love   SINGAPORE...

gbafNews28 gbafNews28
News3 mins ago

Kincentric Best Employers in Malaysia Embrace the Next Normal in Extraordinary Ways

KUALA LUMPUR, MALAYSIA – Media OutReach – 14 January 2021 – Never in history have employee engagement experiences played a more crucial...

gbafNews28 gbafNews28
News3 mins ago

Donnie Yen appointed as International Image Ambassador of Hong Kong Fire Services Department

HONG KONG SAR – Media OutReach – 14 January 2021 – To elevate its international image, the Hong Kong Fire Services Department (HKFSD) invited...

gbafNews28 gbafNews28
News3 mins ago

New Inject/Eject Mechanism from Southco Simplifies Installation and Operation with Tool Free Operation

HONG KONG SAR – Media OutReach – 14 January 2021 – Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider...

gbafNews28 gbafNews28
News3 mins ago

Huntkey Presents at the All-Digital CES 2021

SHENZHEN, CHINA – Media OutReach – 14 January 2021 – Huntkey, a leading provider of power solutions, announces that today it presents at...