title: Sushil Kumar

text: Kumar won gold in 74 kg category on 12 April 2018, Thursday, beating South Africa’s Johannes Botha in the final that lasted 80 seconds thus achieving a feat of winning 3 gold medals in 3 consecutive Commonwealth Games.


title: Sushil Kumar

text: Kumar was born in a Jat family of Solanki clan in Baprola village, near Najafgarh in South West Delhi. His father, Diwan Singh, was a driver in MTNL Delhi, while his mother, Kamla Devi, is a housewife.


title: Sushil Kumar

text: Kumar was inspired to take up wrestling by his father, himself a wrestler, and his cousin Sandeep. Sandeep later stopped competing as the family could only support one wrestler. Kumar trained in pehlwani wrestling at the "akhada" (wrestling school) in the Chhatrasal Stadium from the age of 14. With minimal funds and poor training facilities for wrestling in India, even for the 2008 Olympic team, his family made sure he obtained the necessary dietary supplements by sending him tinned milk, ghee and fresh vegetables. He is a devoted Hindu and strict vegetarian.


title: Sushil Kumar

text: He has completed his Graduation (B.P.E.) and Post-Graduation (M.P.E.) from Noida College of Physical Education, Dadri. Kumar is presently employed with the Indian Railways as an assistant commercial manager.


title: Sushil Kumar

text: Kumar endorses brands such as Mountain Dew, Eicher tractors, and the National Egg Coordination Committee which earns him annually. He refused the offer of to appear in a surrogate ad for a leading liquor brand.


title: Sushil Kumar

text: He appeared in the Indian documentary film "Carve Your Destiny" by Anubhav Srivastava. Kumar also served as a judge on MTV India's reality television series "MTV Roadies". Other media appearances include in "The Kapil Sharma Show" and "Comedy Nights with Kapil".


title: Sushil Kumar

text: Delhi Police arrested Sushil Kumar in connection with the murder of former junior national wrestling champion Sagar Dhankhar during a brawl in the Chhatrasal Stadium on 4 May 2021. After arresting Kumar, Delhi Police presented him in Rohini court and the court ordered a six-day remand of Kumar to Delhi police. In October 2021, a judge ordered Kumar continue to be held without bail. The decision was reached after arguments from both sides, and a review of evidence from the prosecution, including a video taken by an alleged accomplice of a man purported to be Kumar engaged in the attack.


title: Latvian National Armed Forces

text: The Latvian National Armed Forces (), or NBS, are the armed forces of Latvia. Latvia's defense concept is based on a mobile professional rapid response force and reserve segment that can be called upon relatively fast for mobilization should the need arise. The National Armed Forces consists of Land Forces, Naval Forces, Air Force and National Guard. Its main tasks are to protect the territory of the State; participate in international military operations; and to prevent threats to national security.


title: Latvian National Armed Forces

text: The mission of the National Armed Forces (NAF) is to defend the sovereignty and territorial integrity of the nation and to defend its population against foreign or domestic armed aggression. In order to implement these tasks, the NAF provide for the defence of the nation, its air space and national territorial waters, participate in large scale crisis response operations, perform emergency rescue operations, and participate in international peacekeeping operations.


title: Latvian National Armed Forces

text: The Latvian armed forces were first formed soon after the new state was proclaimed in November 1918 after World War I, with the official founding of the () on July 10, 1919, when the and , which were loyal to the Latvian Provisional Government, were merged. Seasoned general Dāvids Sīmansons was appointed as the first Commander-in-Chief. At the end of the Latvian War of Independence (1918-1920), the Latvian Army consisted of 69,232 men.


title: Latvian National Armed Forces

text: In terms of equipment, the Latvian military during its first independence period (1919-1940) was armed mostly with British weapons and gear. The average Latvian infantry soldier in the 1930s is believed to have carried 31,4 kg of equipment in the winter months, and around 29,1 kg in the summer. The main service rifle was the British Pattern 1914 Enfield, and the amount of standard issue ammunition for an infantry soldier was 45 rounds of .303 (7,7mm) caliber. In addition, troops had access to three different types of hand grenades (defense, attack and rifle grenades). The Latvian Army had acquired a wide variety of machine guns in different calibers, through various means: trophies acquired from hostile forces during the War of Independence, allied donations and subsequent official state purchases. Light machine guns included the French Chauchat, Danish Madsen, and British Lewis gun (which became the main light machine gun of the Latvian Army). The main heavy machine gun was the British Vickers machine gun in the .303 (7,7mm) caliber, although the army also kept Russian PM M1910 machine guns in reserve. In general, the Latvian Army lacked automatic weapons of all calibers, and the ones it did have were becoming increasingly outdated towards the start of World War II (most of the weapons in service were from World War I). In terms of heavy weapons, the Latvian military had acquired a rather large number of different artillery systems in different calibers, around 400 artillery pieces in total (although most of these were outdated and worn out due to heavy use and age). The main artillery gun for infantry support was the British Ordnance QF 18-pounder field gun and British QF 4.5-inch howitzer, although there were also several types of French, German and Russian artillery guns in reserve. For anti-tank weapons, in 1938 the army received the Austrian 47 mm Cannone da 47/32 anti-tank cannons, which were reasonably effective against early World War II tanks. For infantry mortars, a number of 81mm mortars were acquired from Finland some time around the late 1930s, but it is unclear how many were delivered and in service at the start of World War II.


title: Latvian National Armed Forces

text: In terms of vehicles, the Latvian military was seriously lacking in motorized transport, and thus had to rely mostly on railroads and horse-drawn carriages for most of its logistics needs. The military leadership did make an effort to solve this problem at the end of the 1930s by purchasing a small number of cars, trucks, artillery tractors and motorbikes, but at the start of World War II, only a small portion of the Latvian military had access to motorized vehicles. In terms of armoured vehicles, the Latvian military had six armoured trains, 18 units of Carden Loyd tankettes, six armoured cars and 27 tanks of various designs and combat abilities. In terms of air power, at the start of World War II the Latvian Air Force had around 52 fighter planes and 48 scout planes, of which only 25 were the relatively modern Gloster Gladiator fighters. Thus, the Latvian military during the interwar era was more or less comparable both in equipment and size to its other Baltic neighbours, such as Estonia, Lithuania and Finland. The Armed Forces were also supported by the volunteer Aizsargi Organization.


title: Latvian National Armed Forces

text: However, the most crucial problem and flaw for both the Latvian military and other militaries of the Baltic states on the eve of World War II had to do with the failure to organize effective military cooperation between all the Baltic states in case of a new war in the region. The Latvian command in the interwar period had given very little attention towards any possible coordination of forces with either the Estonian or Lithuanian armies against a possible enemy, and so the Latvian military planned its actions and doctrine in almost complete isolation, oblivious to whatever its neighbours to the north (Estonia) or south (Lithuania) did. This ultimately led to flawed and questionable choices in creating defense plans against both Nazi Germany and the Soviet Union (there were separate plans towards both of these possible aggressors), since the Latvian higher command was unsure as to how Latvia's neighbours would react in the event such a conflict started.


title: Latvian National Armed Forces

text: After the Soviet occupation of Latvia in June 1940, during which the armed forces did not intervene following orders, the annihilation of the Latvian Army began. The army was first renamed the People's Army of Latvia (Latvian: "Latvijas Tautas armija") and in September–November 1940 – the Red Army's 24th Territorial Rifle Corps. The corps comprised the 181st and 183rd Rifle Divisions. In September the corps contained 24,416 men but in autumn more than 800 officers and about 10,000 instructors and soldiers were discharged. The arrests of soldiers continued in the following months. In June 1940, the entire Territorial Corps was sent to Litene camp. Before leaving the camp, Latvians drafted in 1939 were demobilised, and replaced by about 4,000 Russian soldiers from the area around Moscow. On June 10, the corps' senior officers were sent to Russia where they were arrested and most of them shot. On June 14 at least 430 officers were arrested and sent to Gulag camps. After the German attack against the Soviet Union, from June 29 to July 1 more than 1980 Latvian soldiers were demobilised, fearing that they might turn their weapons against the Russian commissars and officers. Simultaneously, many soldiers and officers deserted and when the corps crossed the Latvian border into the Russian SFSR, only about 3,000 Latvian soldiers remained. During and after World War II, many former veterans were a part of the fighters of the anti-Soviet National Partisan resistance movement opposing the continued Soviet occupation.


title: Latvian National Armed Forces

text: The origin of the current Latvian armed forces can be traced to the establishment of the Latvian National Guard or Zemessardze on August 23, 1991, which served as the first organized defence force after the restoration of the independence of Latvia. Unlike other Soviet republics, it is one of the military forces in the Baltic states that were not formed from the Baltic Military District. From the beginning, the reconstituted defense forces were modeled according to NATO standards with assistance from the United States, the United Kingdom, Sweden etc.


title: Latvian National Armed Forces

text: A notable moment in the history of the armed forces is the accession to the North Atlantic Treaty Organization on 29 March 2004, after Latvia received a Membership Action Plan in 1999 and, ultimately, an invite was extended to it and six other countries during the 2002 Prague summit. Previously, Latvia co-founded the North Atlantic Cooperation Council in 1991 and joined the Partnership for Peace program in 1994.


title: Latvian National Armed Forces

text: Since the 1990s, personnel of the NAF has been deployed to a number of peacekeeping, training and support missions – the NATO Stabilisation Force in Bosnia and Herzegovina (SFOR) from 1996 to 2004; the Kosovo Force (KFOR) from 2000 to 2009; the NATO training mission in Iraq (NTM-I) from 2005 to 2006, the NATO International Security Assistance Force (ISAF) from 2003 to 2015, the Resolute Support Mission from 2015 to 2021 and others.


title: Latvian National Armed Forces

text: In 2007, Latvia abolished conscription, switching to a professional, volunteer-based service model. However, after the start of the Russo-Ukrainian War in 2014, calls for reintroducing mandatory military service reappeared, with the full invasion of Ukraine by Russia in 2022 being a decisive boost to this momentum, despite initial skepticism from the top leadership in the NAF and the Ministry of Defence. In July 2022, Defence Minister Artis Pabriks announced a plan for the re-introduction of military service – officially called the National Defense Service (, VAD) – first on a voluntary basis and then in compulsory form at a later date for males aged 18–27, starting from January 2023. The Government of Latvia supported the plan in September, with the next required step being the approval of the Saeima. The Cabinet also supported the proposed transitional period from 2023 to 2027, that the length of the service would be 11 months and that service can be postponed until 26 years of age. Alternative service options would involve serving in a National Guard unit on a part-time basis for 5 years; civil service for those unfit for military service due to health or special military courses for students.


title: Latvian National Armed Forces

text: The Security Service of the Parliament and State President was a part of the National Armed Forces until its merger with the Military Police in 2009.


title: Latvian National Armed Forces

text: Latvian National Armed Forces consist of the Regular Force, National Guard and Reserve. On January 1, 2007, conscription was abolished and since then the Regular Force consists of only professional soldiers. Recruits must be 18 years of age or older. As of June 2018, there were 5500 active duty soldiers, 8000 national guards. By the end of 2017, there were 7800 registered reserve soldiers, of whom about 5000 were retired professional soldiers. According to the National Defence Concept, the National Armed Forces are to maintain 17500 militarily trained personnel, including 6500 professional soldiers, 8000 National Guards and 3000 (trained) reserve soldiers. Reserve training began in 2015.


title: Latvian National Armed Forces

text: Along with providing for national defence, the NAF will also react immediately to threats to other allies and to international crises.


title: Latvian National Armed Forces

text: Latvia cooperates with Estonia and Lithuania in the joint infantry battalion BALTBAT and naval squadron BALTRON which are available for peacekeeping operations.


title: Latvian National Armed Forces

text: Currently, NATO is involved in the patrolling and protection of the Latvian air space as the Latvian military does not have the means to do so. For this goal a rotating force of four NATO fighters, which comes from different nations and switches at two or three month intervals, is based in Lithuania to cover all three Baltic states (see Baltic Air Policing).


title: Latvian National Armed Forces

text: After joining the North Atlantic Treaty Organization (NATO), Latvia has undertaken obligations to strengthen common defence within the scope of its capabilities. For this purpose, every NATO member state delegates its military formations — fast response, well-armed and well-equipped units capable to operate beyond the NATO's borders.


title: Latvian National Armed Forces

text: After joining NATO, the foundation of the Latvian defence system has shifted from total territorial defence to collective defence. Latvia has acquired small but highly professional troop units that have been fully integrated into NATO structures. NAF soldiers have participated in international operations since 1996. Specialized units (e.g. units of military medics, military police, unexploded ordnance neutralizers, military divers and special forces) have been established in order to facilitate and enhance NAF participation in international operations. Special attention has been paid to establishing a unit to deal with the identification and clearance of nuclear pollution.


title: Childeric I

text: Childeric I (; ; ; reconstructed Frankish: "*Hildirīk"; – 481 AD) was a Frankish leader in the northern part of imperial Roman Gaul and a member of the Merovingian dynasty, described as a king (Latin "rex"), both on his Roman-style seal ring, which was buried with him, and in fragmentary later records of his life. He was father of Clovis I, who acquired effective control over all or most Frankish kingdoms, and a significant part of Roman Gaul.


title: Childeric I

text: Childeric's father is recorded by several sources including Gregory of Tours to have been Merovech, whose name is the basis of the Merovingian dynasty. Gregory reports that Merovech was reputed by some to be a descendant of Chlodio who was an earlier Frankish king who had conquered Roman Gaulish areas first in the Silva Carbonaria, then in Tournai, Cambrai and as far south as the Somme. This is roughly the definition of the Roman province of "Belgica Secunda" (approximately the "Belgium" defined by Julius Caesar centuries earlier, the region stretching from north of Paris to the Flemish coast) and later a letter of Saint Remigius to Childeric's son Clovis I implies that Childeric had been the administrative chief of this Roman province.


title: Childeric I

text: In records about specific actions of Childeric himself, he is mainly associated with the Roman military actions around the Loire river, where he appears in records involving the Gallo-Roman general Aegidius. According to Gregory of Tours, Childeric was exiled to "Thuringia" for eight years due to Frankish distaste at his debauchery and his seduction of his subjects' daughters. In the meantime, according to Gregory, Aegidius himself took up the title of king of the Franks. Upon his return from exile, Childeric joined his host's wife, Queen Basina, who bore their son Clovis.


title: Childeric I

text: Halsall (p. 269) speculates that Childeric probably began a Roman military career in the service of Flavius Aetius who defeated Attila in Gaul, and he points out that much of his military career appears to have played out far from the Frankish homelands. Ulrich Nonn (map p. 37, and pp. 99–100), following his teacher Eugen Ewig, believes that the exile story reflects a real sequence of events whereby Childeric was a leader of "Salian" or "Belgian" Franks based in the Romanized areas conquered by Chlodio, who were allies under the lordship of Aegidius, but eventually able to take over his power when he and his imperial patron died. (Childeric's son Clovis I later fought Aegidius' son Syagrius who was remembered as a King of Romans, and who had control of Soissons in the south of "Belgica Secunda".)


title: Childeric I

text: In a passage normally considered to have come from a lost collection of annals, Gregory (II.18) gives a sequence of events which are very difficult to interpret. In 463 Childeric and Aegidius successfully repelled the Visigoths of Theodoric II from Orléans on the Loire. After the death of Aegidius soon after, Childeric and a "comes" ("count") Paul are recorded defending the Loire region from Saxon raiders, who were possibly coordinating with the Goths now under Euric. Childeric and Paul fought Saxons under the command of a leader named "Adovacrius" (sometimes given by modern authors in either an Anglo-Saxon spelling form, Eadwacer, or in a spelling the same as used for his contemporary the future King of Italy Odoacer, with whom he is sometimes equated). The origin of these "Saxons" is however unclear, and they are described as being based upon islands somewhere in the Loire region.


title: Childeric I

text: Soon after this passage, Gregory of Tours (II.19) reports that Childeric coordinated with "Odovacrius", this time normally assumed to be the King of Italy, against Allemanni who had entered Italy. While some authors interpret these Allemani to be Alans, a people established in the Loire region in this period, there is no consensus on this, because the reference in this case is not apparently to events near the Loire.


title: Childeric I

text: Gregory of Tours, in his "History of the Franks", mentions several siblings of Clovis within his narrative, apparently thus children of Childeric:


title: Childeric I

text: Childeric is generally considered to have died in 481 or 482 based on Gregory's reports that his son Clovis died in 511 and had ruled 30 years.


title: Childeric I

text: Childeric's tomb was discovered in 1653 not far from the 12th-century church of Saint-Brice in Tournai, now in Belgium. Numerous precious objects were found, including jewels of gold and garnet cloisonné, gold coins, a gold bull's head, and a ring with the king's name inscribed. Some 300 golden winged insects (usually viewed as bees or cicadas) were also found which had been placed on the king's cloak. Archduke Leopold William, governor of the Southern Netherlands (today's Belgium), had the find published in Latin. The treasure went first to the Habsburgs in Vienna, then as a gift to King Louis XIV of France, who was not impressed with the treasure and stored it in the royal library, which became the Bibliothèque Nationale de France during the Revolution.


title: Childeric I

text: On the night of November 5–6, 1831, the treasure of Childeric was among 80 kg of treasure stolen from the Library and melted down for the gold. A few pieces were retrieved from where they had been hidden in the Seine, including two of the bees. The record of the treasure, however, now exists only in the fine engravings made at the time of its discovery and in some reproductions made for the Habsburgs.


title: Childeric I

text: When Napoleon was looking for a heraldic symbol to trump the Capetian fleur-de-lys, he settled on Childeric's bees as symbols of the French Empire. The minutes of a meeting of the "Conseil d'État" held at Saint-Cloud in June 1804 suggest that it approved the symbolism of the bees on a suggestion by Cambacérès. The design was made by Vivant Denon, Director of the Louvre.


title: Plaza de España, Seville

text: The Plaza de España ("Spain Square", in English) is a plaza in the Parque de María Luisa ("Maria Luisa Park"), in Seville, Spain. It was built in 1928 for the Ibero-American Exposition of 1929. It is a landmark example of Regionalism Architecture, mixing elements of the Baroque Revival, Renaissance Revival and Moorish Revival (Neo-Mudéjar) styles of Spanish architecture.


title: Plaza de España, Seville

text: In 1929, Seville hosted the Ibero-American Exposition World's Fair, located in the celebrated "Maria Luisa Park" ("Parque de María Luisa"). The park gardens were designed by Jean-Claude Nicolas Forestier. The entire southern end of the city was redeveloped into an expanse of gardens and grand boulevards.


title: Plaza de España, Seville

text: The centre of it is "Parque de María Luisa", designed in a "Moorish paradisical style", with a half mile of tiled fountains, pavilions, walls, ponds, benches, and exhedras; lush plantings of palms, orange trees, Mediterranean pines, and stylized flower beds. Numerous buildings were constructed in the park to provide spaces for the exhibition.


title: Plaza de España, Seville

text: The "Plaza de España", designed by Aníbal González, was a principal building built on the Maria Luisa Park's edge to showcase Spain's industry and technology exhibits. González combined a mix of 1920s Art Deco and Spanish Renaissance Revival, Spanish Baroque Revival and Neo-Mudéjar styles. The "Plaza de España" complex is a huge half-circle; the buildings are accessible by four bridges over the moat, which represent the ancient kingdoms of Spain. In the centre is the Vicente Traver fountain.


title: Plaza de España, Seville

text: Many tiled alcoves were built around the plaza, each representing a different province of Spain. The Plaza's tiled Alcoves of the Provinces are frequent backdrops for visitors' portrait photographs, taken in their own home province. Each alcove is flanked by a pair of covered bookshelves, now used by visitors in the manner of a "Little Free Library". Each bookshelf often contains works with information about their province. Visitors have also donated favorite novels and other books for others to read.


title: Plaza de España, Seville

text: Today the buildings of the Plaza de España have been renovated and adapted for use as offices for government agencies. The central government departments, with sensitive adaptive redesign, are located within it. Toward the end of the park, the grandest mansions from the fair have been adapted as museums. The most distant museum contains the city's archaeology collections. The main exhibits are Roman mosaics and artefacts from nearby Italica.


title: Plaza de España, Seville

text: The Plaza de España has been used as a filming location, including scenes for "Lawrence of Arabia" (1962). The building was used as a location in the "Star Wars" movie series "" (2002) — in which it featured in exterior shots of the City of Theed on the Planet Naboo. It also featured in the 2012 film "The Dictator". The 2023 Netflix series, "Kaos", will also feature scenes filmed at the Plaza.


title: Plaza de España, Seville

text: From 2007 to 2010, the Seville City Council invested 9 million euros in the restoration of the Plaza de España. The objective was to recover the original monument as the architect, Aníbal González, conceived it. To restore it, the restoration team worked to recover pieces such as the ceramic streetlights, benches, and even pavements. In other cases, they created reproductions of elements based on photographs and postcards from the municipal newspaper library. Cefoarte and Diaz Cubero were some of the experts who worked in multidisciplinary teams to restore this complex to lively use.


title: Savings and loan crisis

text: The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations (S&Ls) in the United States from 1986 to 1995. An S&L or "thrift" is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members (a cooperative venture known in the United Kingdom as a building society).


title: Savings and loan crisis

text: The Federal Savings and Loan Insurance Corporation (FSLIC) closed or otherwise resolved 296 institutions from 1986 to 1989, whereupon the newly established Resolution Trust Corporation (RTC) took up these responsibilities. The RTC closed or otherwise resolved 747 institutions from 1989 to 1995 with an estimated book value between $402 and $407 billion. In 1996, the General Accounting Office (GAO) estimated the total cost to be $160 billion, including $132.1 billion taken from taxpayers.


title: Savings and loan crisis

text: Starting in October 1979, the Federal Reserve of the United States raised the discount rate that it charged its member banks from 9.5 percent to 12 percent in an effort to reduce inflation. At that time, S&Ls had issued long-term loans at fixed interest rates that were lower than the newly mandated interest rate at which they could borrow. When interest rates at which they could borrow increased, the S&Ls could not attract adequate capital from deposits and savings accounts of members for instance. Attempts to attract more deposits by offering higher interest rates led to liabilities that could not be covered by the lower interest rates at which they had loaned money. The end result was that about one third of S&Ls became insolvent.


title: Savings and loan crisis

text: When the problem became apparent, after the Federal Reserve increased interest rates, some S&Ls took advantage of lax regulatory oversight to pursue highly speculative investment strategies. This had the effect of extending the period where some S&Ls were likely technically insolvent. These actions also substantially increased the economic losses for many S&Ls than would otherwise have been realized had their insolvency been dealt with earlier. One extreme example was that of financier Charles Keating, who paid $51 million financed through Michael Milken's "junk bond" operation, for his Lincoln Savings and Loan Association which at the time had a negative net worth exceeding $100 million.


title: Savings and loan crisis

text: Financial historian Kenneth J. Robinson, in his explanation of the crisis published in 2000 by the Federal Deposit Insurance Corporation (FDIC), offers multiple reasons as to why the S&L crisis came to pass. He identifies rising monetary inflation beginning in the late 1960s and increasing through the 1970s, caused by the federal government's domestic spending programs implemented by President Lyndon B. Johnson's "Great Society" programs and the federal government's mounting military expenses for the Vietnam War that continued into the late 1970s. The Federal Reserve's efforts to reduce rampant inflation of the late 1970s and early 1980s by raising interest rates brought on a recession in the early 1980s and the beginning of the S&L crisis. The Federal Reserve's policies to increase the discount rate charged to other banks, compared to the long-term fixed rates of loans the S&Ls had already made, practically ensured that most S&Ls would become insolvent very quickly. Deregulation of the S&L industry, combined with regulatory forbearance and fraud, worsened the crisis.


title: Savings and loan crisis

text: The "thrift" or "building" or "savings and loans associations" industry has its origins in the British building society movement that emerged in the late 18th century. American thrifts (also known as "building and loans" or "B&Ls") shared many of the same basic goals: to help the working class save for the future and purchase homes. Thrifts were not-for-profit cooperative organizations that were typically managed by the membership and local institutions that served well-defined groups of aspiring homeowners. While banks offered a wide array of products to individuals and businesses, thrifts often made only home mortgages primarily to working-class men and women. Thrift leaders believed they were part of a broader social reform effort and not a financial industry. According to thrift leaders, B&Ls not only helped people become better citizens by making it easier to buy a home, but also taught the habits of systematic savings and mutual cooperation which strengthened personal morals.


title: Savings and loan crisis

text: The thrift associations and their ideals were famously portrayed in the 1946 film "It's a Wonderful Life".


title: Savings and loan crisis

text: The first thrift was formed in 1831, and for 40 years there were few B&Ls, found in only a handful of Midwestern and Eastern states. This situation changed in the late 19th century as urban growth and the demand for housing related to the Second Industrial Revolution caused the number of thrifts to explode. The popularity of B&Ls led to the creation of a new type of thrift in the 1880s called the "national" B&L. The "nationals" were often for-profit businesses formed by bankers or industrialists that employed promoters to form local branches to sell shares to prospective members. The "nationals" promised to pay savings rates up to four times greater than any other financial institution.


title: Savings and loan crisis

text: The Depression of 1893 (resulting from the financial Panic of 1893, which lasted for several years) caused a sharp decline in members, and so "nationals" experienced a sudden reversal of fortunes. Because a steady stream of new members was critical for a "national" to pay both the interest on savings and the hefty salaries for the organizers, the falloff in payments caused dozens of "nationals" to fail. By the end of the 19th century, nearly all the "nationals" were out of business (National Building and Loans Crisis). This led to the creation of the first state regulations governing B&Ls, to make thrift operations more uniform, and the formation of a national trade association to not only protect B&L interests, but also promote business growth. The trade association led efforts to create more uniform accounting, appraisal, and lending procedures. It also spearheaded the drive to have all thrifts refer to themselves as "savings and loans", not B&Ls, and to convince managers of the need to assume more professional roles as financiers.


title: Savings and loan crisis

text: In the 20th century, the two decades that followed the end of World War II were the most successful period in the history of the thrift industry. The return of millions of servicemen eager to take up their prewar lives led to an unprecedented post-war housing crisis and boom with a dramatic increase in new families, and this so-called "baby boom" caused a surge in new mostly suburban home construction, and vast expansion beyond the central core cities with additional commercial development on radiating spoke roads and highways plus the additional construction by 1956, during the Eisenhower administration of the Interstate Highways system throughout the country allowed the explosion of suburban communities in formerly rural surrounding counties. By the 1940s S&Ls (the name change for many associations occurred gradually after the late 1930s) provided most of the financing for this expansion, which now had some sort of state regulation which predated the later similar regulation of banks instituted after the 1929 Stock Market "Crash" and the later "bank holiday" of the beginning of the administration of 32nd President Franklin D. Roosevelt in March 1933, and the subsequent requirements and regulations in the "New Deal" programs to combat the Great Depression. The result was strong industry expansion that lasted through the early 1960s.


title: Savings and loan crisis

text: An important trend involved raising rates paid on savings to lure deposits, a practice that resulted in periodic rate wars between thrifts and even commercial banks. These wars became so severe that in 1966, the United States Congress took the highly unusual move of setting limits on savings rates for both commercial banks and S&Ls. From 1966 to 1979, the enactment of rate controls presented thrifts with a number of unprecedented challenges, chief of which was finding ways to continue to expand in an economy characterized by slow growth, high interest rates and inflation. These conditions, which came to be known as stagflation, wreaked havoc with thrift finances for a variety of reasons. Because regulators controlled the rates that thrifts could pay on savings, when interest rates rose depositors often withdrew their funds and placed them in accounts that earned market rates, a process known as disintermediation. At the same time, rising loan rates and a slow growth economy made it harder for people to qualify for mortgages that in turn limited the ability of the S&Ls to generate income.


title: Savings and loan crisis

text: In response to these complex economic conditions, thrift managers resorted to several innovations, such as alternative mortgage instruments and interest-bearing checking accounts, as a way to retain funds and generate lending business. Such actions allowed the industry to continue to record steady asset growth and profitability during the 1970s even though the actual number of thrifts was falling. Despite such growth, there were still clear signs that the industry was chafing under the constraints of regulation. This was especially true with the large S&Ls in the Western United States that yearned for additional lending powers to ensure continued growth. Despite several efforts to modernize these laws in the 1970s, few substantive changes were enacted.


title: Savings and loan crisis

text: In 1979, the financial health of the thrift industry was again challenged by a return of high interest rates and inflation, sparked this time by a doubling of oil prices and exacerbated by dwindling resources of the Federal Savings and Loan Insurance Corporation (FSLIC) It was not a small problem: In 1980 there were more than 4,000 savings & loans institutions with assets of $600 billion, of which $480 billion were mortgage loans, many of them made at low interest rates fixed in an earlier era. In the United States, this was 50 percent of the entire home mortgage market. In 1983, the FSLIC's reserves for failures amounted to around $6 billion, whereas, according to Robinson (footnoted), the cost of paying off insured depositors in failed institutions would have been around $25 billion. Hence, regulators were forced into "forbearance"—allowing insolvent institutions to remain open—and to hope that they could grow out of their problems.


title: Savings and loan crisis

text: A major factor contributing to the crisis was the Federal Reserve's response to rampant inflation, marked by Paul Volcker's speech of October 6, 1979, which resulted in a series of short-term interest rate increases. This led to a scenario whereby the short-term costs of funding to S&Ls were higher than the returns they were realizing from many of their mortgage loan portfolios. This situation could not be directly addressed because a large proportion of the loans were fixed-rate mortgages (a problem that is known as an asset-liability mismatch). As the Federal Reserve's policies continued to cause interest rates to rise, this placed even more pressure on S&Ls in late 1979 and into the 1980s, leading to an increased focus on high interest-rate transactions. As a result, fewer people borrowed money from S&Ls which further significantly lowered revenue so the institutions could not offset their losses. According to Zvi Bodie, professor of finance and economics at Boston University School of Management, writing in the St. Louis Federal Reserve "Review", "asset-liability mismatch was a principal cause of the Savings and Loan Crisis".


title: Savings and loan crisis

text: In the early 1980s Congress passed two laws intended to deregulate the Savings and Loans industry, the Depository Institutions Deregulation and Monetary Control Act of 1980 and the Garn–St. Germain Depository Institutions Act of 1982. These laws allowed thrifts to offer a wider array of savings products (including adjustable-rate mortgages), but also significantly expanded their lending authority and reduced regulatory oversight. These changes were intended to allow S&Ls to "grow" out of their problems, and as such represented the first time that the government explicitly sought to influence S&L profits as opposed to promoting housing and home ownership. Other changes in thrift oversight included authorizing the use of more lenient accounting rules to report their financial condition, and the elimination of restrictions on the minimum numbers of S&L stockholders. Such policies, combined with an overall decline in regulatory oversight (known as forbearance), would later be cited as factors in the collapse of the thrift industry.


title: Savings and loan crisis

text: Between 1982 and 1985, S&L assets grew by 56% (compared to growth in commercial banks of 24%). In part, the growth was tilted toward financially weaker institutions which could only attract deposits by offering very high rates and which could only afford those rates by investing in high-yield, risky investments and loans.


title: Savings and loan crisis

text: The deregulation of S&Ls in 1980, by the Depository Institutions Deregulation and Monetary Control Act signed by President Jimmy Carter on March 31, 1980, gave the thrifts many of the capabilities of commercial banks without the same regulations as banks, and without explicit FDIC oversight. Savings and loan associations could choose to be under either a state or a federal charter. This decision was made in response to the dramatically increasing interest rates and inflation rates that the S&L market experienced due to vulnerabilities in the structure of the market. Immediately after deregulation of the federally chartered thrifts, state-chartered thrifts rushed to become federally chartered, because of the advantages associated with a federal charter. In response, states such as California and Texas changed their regulations to be similar to federal regulations.


title: Savings and loan crisis

text: The relatively greater concentration of S&L lending in mortgages, coupled with a reliance on deposits with short maturities for their funding, made savings institutions especially vulnerable to increases in interest rates. As inflation accelerated in the late 1970s and interest rates began to rise rapidly starting in October 1979, many S&Ls began to suffer extensive losses. The rates they had to pay on inter-bank loans (the rate set by the Federal Reserve) increased, and they also had to increase interest rates paid to depositors to attract deposits, but the amount that they earned on long-term fixed-rate mortgages did not change. Losses began to mount. Regulatory agencies responded by granting a forbearance to some requirements, which contributed to the turmoil that the S&L market experienced. Because many insolvent thrifts were allowed to remain open, their financial problems only worsened over time. Moreover, capital standards were reduced both by legislation and by decisions taken by regulators. Federally chartered S&Ls were granted the authority to make new (and ultimately riskier) loans other than residential mortgages. These government policies all prolonged and ultimately exacerbated the crisis.


title: Savings and loan crisis

text: In an effort to take advantage of the real estate boom (outstanding U.S. mortgage loans: 1976 $700 billion; 1980 $1.2 trillion) and high interest rates of the late 1970s and early 1980s, many S&Ls lent far more money than was prudent, and to ventures which many S&Ls were not qualified to assess, especially regarding commercial real estate. L. William Seidman, former chairman of both the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation, stated, "The banking problems of the '80s and '90s came primarily, but not exclusively, from unsound real estate lending".


title: Savings and loan crisis

text: Peter Lynch, a mutual fund manager at Fidelity Investments, believed lack of oversight on property debt was a key factor in the savings and loan crisis. He was heavily invested in S&Ls before and during the crisis via the Magellan Fund. Lynch generally thought they were good investments but also noted most of the troubled S&Ls were privately held, and thus faced less scrutiny from shareholders who might have noted and objected to questionable property loans and holdings that contributed to the crisis.


title: Savings and loan crisis

text: Deposit brokers, somewhat like stockbrokers, are paid a commission by the customer to find the best certificate of deposit (CD) rates and place their customers' money in those CDs. Previously, banks and thrifts could only have five percent of their deposits be brokered deposits; the race to the bottom caused this limit to be lifted. A small one-branch thrift could then attract a large number of deposits simply by offering the highest rate. To make money off this expensive money, it had to lend at even higher rates, meaning that it had to make more, riskier investments. This system was made even more damaging when certain deposit brokers instituted a scam known as "linked financing". In "linked financing", a deposit broker would approach a thrift and say he would steer a large amount of deposits to that thrift if the thrift would lend certain people money. The people, however, were paid a fee to apply for the loans and told to give the loan proceeds to the deposit broker.


title: Savings and loan crisis

text: The following is a detailed summary of the major causes for losses that hurt the savings and loan business in the 1980s:


title: Savings and loan crisis

text: In 2005, former bank regulator William K. Black listed a number of lessons that should have been learned from the S&L Crisis that have not been translated into effective governmental action:


title: Savings and loan crisis

text: In 1980, the United States Congress granted all thrifts, including savings and loan associations, the power to make consumer and commercial loans and to issue transaction accounts. Designed to help the thrift industry retain its deposit base and to improve its profitability, the Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980 allowed thrifts to make consumer loans up to 20 percent of their assets, issue credit cards, accept negotiable order of withdrawal accounts from individuals and nonprofit organizations, and invest up to 20 percent of their assets in commercial real estate loans.


title: Savings and loan crisis

text: The damage to S&L operations led Congress to act, passing the Economic Recovery Tax Act of 1981 (ERTA) in August 1981 and initiating the regulatory changes by the Federal Home Loan Bank Board allowing S&Ls to sell their mortgage loans and use the cash generated to seek better returns soon after enactment; the losses created by the sales were to be amortized over the life of the loan, and any losses could also be offset against taxes paid over the preceding ten years. This all made S&Ls eager to sell their loans. The buyers – major Wall Street firms – were quick to take advantage of the S&Ls' lack of expertise, buying at 60% to 90% of value and then transforming the loans by bundling them as, effectively, government-backed bonds by virtue of Ginnie Mae, Freddie Mac, or Fannie Mae guarantees. S&Ls were one group buying these bonds, holding $150 billion by 1986, and being charged substantial fees for the transactions.


title: Savings and loan crisis

text: In 1982, the Garn-St Germain Depository Institutions Act was passed and increased the proportion of assets that thrifts could hold in consumer and commercial real estate loans and allowed thrifts to invest 5 percent of their assets in commercial loans until January 1, 1984, when this percentage increased to 10 percent.


title: Savings and loan crisis

text: These policies had the effect of prolonging the crisis, and a large number of S&L customers defaulted and bankruptcies ensued. This led to many S&Ls being forced into insolvency proceedings themselves.


title: Savings and loan crisis

text: The Federal Savings and Loan Insurance Corporation (FSLIC), a federal government agency that insured S&L accounts in the same way the Federal Deposit Insurance Corporation insures commercial bank accounts, was obligated to repay all the depositors who lost their money. Between 1986 and 1989, FSLIC closed or otherwise resolved 296 institutions with total assets of $125 billion. An even more traumatic period followed, with the creation of the Resolution Trust Corporation in 1989 and that agency's resolution by mid-1995 of an additional 747 thrifts.


title: Savings and loan crisis

text: A Federal Reserve Bank panel stated the resulting taxpayer bailout ended up being even larger than it would have been because moral hazard and adverse selection incentives that compounded the system's losses.


title: Savings and loan crisis

text: There also were state-chartered S&Ls that failed. Some state insurance funds failed, requiring more state taxpayer bailouts.


title: Savings and loan crisis

text: In March 1985, it came to public knowledge that the large Cincinnati, Ohio-based Home State Savings Bank was about to collapse. Ohio Governor Dick Celeste declared a bank holiday in the state as Home State depositors lined up in a "run" on the bank's branches to withdraw their deposits. Celeste ordered the closure of all the state's S&Ls. Only those that were able to qualify for membership in the Federal Deposit Insurance Corporation were allowed to reopen. Claims by Ohio S&L depositors drained the state's deposit insurance funds. A similar event involving Old Court Savings and Loans took place in Maryland.


title: Savings and loan crisis

text: Midwest Federal Savings & Loan was a federally chartered savings and loan based in Minneapolis, Minnesota, until its failure in 1990. The "St. Paul Pioneer Press" called the bank's failure the "largest financial disaster in Minnesota history".


title: Savings and loan crisis

text: The chairman, Hal Greenwood Jr., his daughter, Susan Greenwood Olson, and two former executives, Robert A. Mampel, and Charlotte E. Masica, were convicted of racketeering that led to the institution's collapse. The failure cost taxpayers $1.2 billion.


title: Savings and loan crisis

text: The Megadeth song "Foreclosure of a Dream" is presumed to have been written about this particular failure. Megadeth's then bassist Dave Ellefson contributed lyrics to the song after his family's Minnesota farm was in jeopardy as a result of the S&L financial crisis.


title: Savings and loan crisis

text: The Lincoln Savings collapse led to the Keating Five political scandal, in which five U.S. senators were implicated in an influence-peddling scheme. It was named for Charles Keating, who headed Lincoln Savings and made $300,000 as political contributions to them in the 1980s. Three of those senators, Alan Cranston (D–CA), Don Riegle (D–MI), and Dennis DeConcini (D–AZ), found their political careers cut short as a result. Two others, John Glenn (D–OH) and John McCain (R–AZ), were rebuked by the Senate Ethics Committee for exercising "poor judgment" for intervening with the federal regulators on behalf of Keating.


title: Savings and loan crisis

text: Lincoln Savings and Loan collapsed in 1989, at a cost of $3.4 billion to the federal government (and thus taxpayers). Some 23,000 Lincoln bondholders were defrauded and many investors lost their life savings.


title: Savings and loan crisis

text: Silverado Savings and Loan collapsed in 1988, costing taxpayers $1.3 billion. Neil Bush, the son of then Vice President of the United States George H. W. Bush, was on the Board of Directors of Silverado at the time. Neil Bush was accused of granting loans that benefitted himself, but he denied all wrongdoing. With the collapse in world oil prices beginning on 13 September 1985 when Saudi Arabia's Minister of Petroleum Sheikh Yamani announced a new oil policy and that Saudi Arabia would increase its production and which, over the next six months, oil production in Saudi Arabia rose tremendously, Neil Bush's Denver based J.N.B. Exploration Company and George W. Bush's Midland based Spectrum 7 Energy Corporation encountered enormous financial difficulties.


title: Savings and loan crisis

text: The U.S. Office of Thrift Supervision investigated Silverado's failure and determined that Neil Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest". Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, "The Washington Post" reported. According to journalist Pete Brewton, the Federal Government knew Silverado was ready to collapse in September 1988 but was ordered not to take action until two weeks after the November 1988 Presidential election.


title: Savings and loan crisis

text: As a director of a failing thrift, Neil Bush voted to approve $100 million in what were ultimately bad loans to two of his business partners. And in voting for the loans, he failed to inform fellow board members at Silverado Savings & Loan that the loan applicants were his business partners.


title: Savings and loan crisis

text: Neil Bush paid a $50,000 fine, paid for him by Republican supporters, and was banned from banking activities for his role in taking down Silverado, which cost taxpayers $1.3 billion. An RTC suit against Bush and other Silverado officers was settled in 1991 for $26.5 million.


title: Savings and loan crisis

text: On June 9, 1988, the House Committee on Standards of Official Conduct adopted a six-count preliminary inquiry resolution representing a determination by the committee that in 69 instances there was reason to believe that Rep. Jim Wright (D–TX) violated House rules on conduct unbecoming a Representative. A report by special counsel implicated him in a number of influence peddling charges, such as Vernon Savings and Loan, and attempting to get William K. Black fired as deputy director of the Federal Savings and Loan Insurance Corporation (FSLIC) under Gray. Wright resigned on May 31, 1989, to avoid a full hearing after the Committee on Standards of Official Conduct unanimously approved a statement of alleged violation April 17.


title: Savings and loan crisis

text: On November 17, 1989, the Senate Ethics Committee investigation began of the Keating Five, Alan Cranston (D–CA), Dennis DeConcini (D–AZ), John Glenn (D–OH), John McCain (R–AZ), and Donald W. Riegle Jr. (D–MI), who were accused of improperly intervening in 1987 on behalf of Charles H. Keating Jr., chairman of the Lincoln Savings and Loan Association.


title: Savings and loan crisis

text: Keating's Lincoln Savings failed in 1989, costing the federal government over $3 billion and leaving 23,000 customers with worthless bonds. In the early 1990s, Keating was convicted in both federal and state courts of many counts of fraud, racketeering and conspiracy. He served four and a half years in prison before those convictions were overturned in 1996. In 1999, he pleaded guilty to a more limited set of wire fraud and bankruptcy fraud counts, and sentenced to the time he had already served.


title: Savings and loan crisis

text: As a result of the savings and loan crisis, Congress passed the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), which dramatically changed the savings and loan industry and its federal regulation. The highlights of the legislation, which was signed into law on August 9, 1989, were:


title: Savings and loan crisis

text: The legislation also required S&Ls to meet minimum capital standards (some of which were risk-based) and raised deposit-insurance premiums. It limited to 30% of their portfolios loans not in residential mortgages or mortgage-related securities and set down standards preventing concentrations of loans to single borrowers. It required them to completely divest themselves of junk bonds by July 1, 1994, meanwhile segregating junk bond holdings and direct investments in separately capitalized subsidiaries.


title: Savings and loan crisis

text: Savings and Loan were not the only financial institutions that were adversely affected by the crisis. Many banks failed as well. Between 1980 and 1994 more than 1,600 banks insured by the FDIC were closed or received FDIC financial assistance.


title: Savings and loan crisis

text: From 1986 to 1995, the number of federally insured savings and loans in the United States declined from 3,234 to 1,645.


title: Savings and loan crisis

text: The market share of S&Ls for single family mortgage loans went from 53% in 1975 to 30% in 1990. U.S. General Accounting Office estimated cost of the crisis to around $160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government from 1986 to 1996. That figure does not include thrift insurance funds used before 1986 or after 1996. It also does not include state run thrift insurance funds or state bailouts.


title: Savings and loan crisis

text: The federal government ultimately appropriated $105 billion to resolve the crisis. After banks repaid loans through various procedures, there was an estimated net loss to taxpayers of somewhere between ($123.8–132.1) 124 and 132 billion dollars by the end of 1999.


title: Savings and loan crisis

text: The concomitant slowdown in the finance industry and the real estate market may have been a contributing cause of the 1990–1991 economic recession. Between 1986 and 1991, the number of new homes constructed dropped from 1.8 million to 1 million, the lowest rate since World War II.


title: Savings and loan crisis

text: Some commentators believe that a taxpayer-funded government bailout related to mortgages during the savings and loan crisis may have created a moral hazard and acted as encouragement to lenders to make similar higher risk loans during the 2007 subprime mortgage financial crisis.


title: Landlord

text: A landlord is the owner of a house, apartment, condominium, land, or real estate which is rented or leased to an individual or business, who is called a tenant (also a "lessee" or "renter"). When a juristic person is in this position, the term landlord is used. Other terms include lessor and owner. The term landlady may be used for the female owners. The manager of a pub in the United Kingdom, strictly speaking a licensed victualler, is referred to as the landlord/landlady. In political economy it refers to the owner of natural resources alone (e.g., land, not buildings) from which an economic rent is the income received.


title: Landlord

text: The concept of a landlord may be traced back to the feudal system of manoralism (seignorialism), where a landed estate is owned by a Lord of the Manor (mesne lords), usually members of the lower nobility which came to form the rank of knights in the high medieval period, holding their fief via subinfeudation, but in some cases the land may also be directly subject to a member of higher nobility, as in the royal domain directly owned by a king, or in the Holy Roman Empire imperial villages directly subject to the emperor. The medieval system ultimately continues the system of villas and latifundia (peasant-worked broad farmsteads) of the Roman Empire.


title: Landlord

text: In modern times, "landlord" describes any individual, or entity such as a government body or an institution, providing housing for persons who do not own their own homes.


title: Landlord

text: A rental agreement, or "lease", is the contract defining such terms as the price paid, penalties for late payments, the length of the rental or lease, and the amount of notice required before either the homeowner or tenant cancels the agreement. In general, responsibilities are given as follows: the homeowner is responsible for making repairs and performing property maintenance, and the tenant is responsible for keeping the property clean and safe.


title: Landlord

text: Many owners hire a property management company to take care of all the details of renting their property out to a tenant. This usually includes advertising the property and showing it to prospective tenants, negotiating and preparing the written leases or license agreements, and then, once rented, collecting rent from the tenant and performing repairs as needed.


title: Landlord

text: In the United States, residential homeowner–tenant disputes are primarily governed by state law (not federal law) regarding property and contracts. State law and, in some places, city law or county law, sets the requirements for eviction of a tenant. Generally, there are a limited number of reasons for which a landlord or landlady can evict his or her tenant before the expiration of the tenancy, though at the end of the lease term the rental relationship can generally be terminated without giving any reason. Some cities, counties, and States have laws establishing the maximum rent a landlord can charge, known as rent control, or rent regulation, and related eviction. There is also an implied warranty of habitability, whereby a landlord must maintain safe, decent and habitable housing, meeting minimum safety requirements such as smoke detectors and a locking door. The most common disputes result from either the landlord's failure to provide services or the tenant's failure to pay rent—the former can also lead to the latter. The withholding of rent is justifiable cause for eviction, as often explained in the lease.


title: Landlord

text: In Canada, residential homeowner–tenant disputes are primarily governed by provincial law (not federal law) regarding property and contracts. Provincial law sets the requirements for eviction of a tenant. Generally, there are a limited number of reasons for which a landlord can evict a tenant. Some provinces have laws establishing the maximum rent a landlord can charge, known as rent control, or rent regulation, and related eviction. There is also an implied warranty of habitability, whereby a landlord must maintain safe, decent and habitable housing, meeting minimum safety requirements.


title: Landlord

text: Private sector renting is largely governed by many of the Landlord and Tenant Acts, in particular the Landlord and Tenant Act 1985 which sets bare minimum standards in tenants' rights against their landlords. Another key statute is the Housing Act 2004. Rents can be freely increased at the end of a usual six-month duration, on proper notice given to the tenant. A Possession Order under the most common type, the assured shorthold tenancy (AST) is usually obtainable after eight weeks/two months of unpaid rent, and at the court's discretion after serving the tenant with a Section 8 notice (under the Housing Act 1988 as amended) for a lesser period for all assured tenancies — and on other grounds which defer to the landlord's ownership of the property. If the tenancy is an AST then any possession order will not take effect until six months has passed into the initial tenancy. A tenancy of someone who has been in occupation since before 15 January 1989 usually, if not a shorthold from the outset following their inception from 1980 onwards, may be a "regulated tenancy" with many more rights, especially under the Rent Act 1977 and Protection from Eviction Act 1977, introduced by the Third Wilson ministry.


title: Landlord

text: Tenancies above a couple of years are normally called leases and tend to be lengthy; if more than seven years a new leasehold estate must be registered. These are governed by few of the above rules and are in longer examples deliberately more akin to full ownership than tenancies, in general. They seldom require a sizeable ground rent. The law has not regulated hefty break/resale charges nor does it prevent the sale of leasehold houses; in the 2010s certain of these proposals have been widely consulted upon and are being drafted. Broadly, legislation allows such lessees (tenants) to club together to gain the Right to Manage, and the right to buy the landlord's interest (to collectively enfranchise). It allows them individually to extend their leases for a new, smaller sum ("premium"), which if the tenants have enfranchised will not normally be demanded/recommended every 15–35 years. Notice requirements and forms tend to be strict. In smaller examples the tenant, depending on a simple mathematical division of the building, may be able to enfranchise individually. Statute of 1925 implies into nearly all leases (tenancies at low rent and at a premium (fine, initial large sum)) of property that they can be sold (by the lessee, assigned); reducing any restriction to one whereby the landlord may apply standard that is "reasonable" vetting, without causing major delay. This is often known as the "statutory qualified covenant on assignment/alienation".


title: Landlord

text: In the overall diminishing domain of social housing, exceptionally, lessees widely acquire over time the Right to Buy for a fixed discount on the market price of the home.


title: Landlord

text: In commercial property much of the law, especially as to disputes and basic responsibilities, is based on freedom of contract of the common law including the implied terms of precedent decisions of wide-ranging case law such as the meaning of "good and substantial repair". Implied principles include "non-derogation from grant" and "quiet enjoyment". All businesses which are tenants (lessees) must decide whether to contract in or outside of Part II of the Landlord and Tenant Act 1954 which gives them "business security of tenure". If not, it generally applies by default. This "security of tenure" is expressly subject to common reasons and associated mechanisms for a landlord to obtain back the premises. If a landlord is selling a block and a qualifying tenant occupies more than 50%, the tenant should be given the right of first refusal at the asking price to buy the block. As in most jurisdictions the law on rigorous adherence to lease terms on unlawful subletting and assignment can be strictly enforced, resulting in financial and premises loss if broken. Failure to repay a rent demand, unlike residential, can result in direct landlord's repossession ("peaceable re-entry") through a commercial landlord's right to the use of "self-help" evictions. The taking of a tenant's goods without a court-issued warrant (flowing from a court order or outstanding tax demand) (distress) has been banned.


title: Landlord

text: Renters (tenants or other licensees) at the lowest end of the payment scale may be in social or economic difficulty and suffer significant social stigma as a consequence. Due to lack of alternative options, such renters are often the victims of unscrupulous owners of unsafe and decrepit properties who neglect their responsibility to maintain the property.


title: Landlord

text: The terms "slumlord", "slum landlord", or "ghetto landlord" is used to describe landlords of large numbers of such properties, often holding a virtual local monopoly. Public improvement or major private investment can improve such areas. In extreme situations, government compulsory purchase powers in many countries enable slum clearance to replace or renovate the worst of neighbourhoods.


title: Landlord

text: The incentive, certainly if not social housing, is to obtain a good rental yield (annual return on investment) and prospect of property price inflation. The disincentives are the locally varying duties of landlords in repair/maintenance and administration — and keynote risks (tenant disputes, damage, neglect, loss of rent, insurance inavailability/disputes, economic slump, increased rate of interest on any mortgage, and negative equity or loss of investment). Net income (yield) and capital growth from letting (renting out) particularly in leveraged buy to let, is subject to idiosyncratic risk, which is considered objectively intensified for a highly leveraged investor limited to a small number of similar profile homes, of narrow rental market appeal in areas lacking economic resilience.


title: Landlord

text: Rental properties can be paid for by the tenant on whatever basis agreed between the landlord and the tenant — more frequently than weekly or less than yearly is almost unheard of — and which is always included in the lease agreement (preferably for both sides in writing). It should be one of the factors that a tenant considers before moving in.


title: Landlord

text: A landlord or its agent can decide to collect a security deposit (and/or in some jurisdictions such as parts of the US, a move-in/administration fee). A deterrent if high and a relative attractive if low in many markets for a tenant, it is rarely debated in pre-tenancy term negotiations. In some jurisdictions either or both are banned in the original sense. Instead a landlord's loss of rent/comprehensive damage insurance may be factored into the rent agreed and/or a special type of deposit, a regulated sum of money as a bond (protected security deposit) from the tenant held by a registered third party (such as certain realty agents) may be permissible. A deposit is normally by law to be offset against arrears (rent deficits) and damage by or failures to clean/repair by the tenant.


title: Landlord

text: In the United Kingdom the owner and/or manager of a pub (public house) is usually called the "landlord/landlady" or "publican", the latter properly the appellation of a Roman public contractor or tax farmer. In more formal situations, the term used is licensed victualler or simply "licensee". A female landlord can be called either a "landlady" or simply landlord.


title: Landlord

text: The Licensed Trade Charity, formed in 2004 from the merger of the Society of Licensed Victuallers and Licensed Victualler's National Homes, exists to serve the retirement needs of Britain's pub landlords. The charity also runs three private schools in Ascot and Reading in Berkshire and Sayers Common in Sussex. As well as having normal full fee paying students, Licensed Victuallers' School in Ascot provides discounted education prices for the children of landlords and others in the catering industry.


title: Landlord

text: There are significant associations of landlords in various countries. These associations/societies provide support for their members in facing a range of issues


title: Landlord

text: by providing a means of mutual support, and also lobby relevant authorities and parliament with regard to the details and implementation of residential and some commercial tenancy legislation.


title: Landlord

text: Numerous landlord associations exist in Australia. These associations need to be distinguished from the class of property owner associations that represent the 'big end of town' - the owners of major buildings and very large residential housing complexes, such as the Property Council of Australia.


title: Landlord

text: National Residential Landlords Association (NRLA) has now formed from a merger of the two following organisations as of 31/3/2020:


title: Neck

text: The neck is the part of the body on many vertebrates that connects the head with the torso. The neck supports the weight of the head and protects the nerves that carry sensory and motor information from the brain down to the rest of the body. In addition, the neck is highly flexible and allows the head to turn and flex in all directions. The structures of the human neck are anatomically grouped into four compartments; vertebral, visceral and two vascular compartments. Within these compartments, the neck houses the cervical vertebrae and cervical part of the spinal cord, upper parts of the respiratory and digestive tracts, endocrine glands, nerves, arteries and veins. Muscles of the neck are described separately from the compartments. They bound the neck triangles.


title: Neck

text: In anatomy, the neck is also called by its Latin names, ' or ', although when used alone, in context, the word "cervix" more often refers to the uterine cervix, the neck of the uterus. Thus the adjective "cervical" may refer either to the neck (as in "cervical vertebrae" or "cervical lymph nodes") or to the uterine cervix (as in "cervical cap" or "cervical cancer").


title: Neck

text: Besides the listed structures, the neck contains cervical lymph nodes which surround the blood vessels.


title: Neck

text: Muscles of the neck attach to the skull, hyoid bone, clavicles and the sternum. They bound the two major neck triangles; anterior and posterior.


title: Neck

text: Anterior triangle is defined by the anterior border of the sternocleidomastoid muscle, inferior edge of the mandible and the midline of the neck. It contains the stylohyoid, digastric, mylohyoid, geniohyoid, omohyoid, sternohyoid, thyrohyoid and sternothyroid muscles. These muscles are grouped as the suprahyoid and infrahyoid muscles depending on if they are located superiorly or inferiorly to the hyoid bone. The suprahyoid muscles (stylohyoid, digastric, mylohyoid, geniohyoid) elevate the hyoid bone, while the infrahyoid muscles (omohyoid, sternohyoid, thyrohyoid, sternothyroid) depress it. Acting synchronously, both groups facilitate speech and swallowing.


title: Neck

text: Posterior triangle is bordered by the posterior border of the sternocleidomastoid muscle, anterior border of the trapezius muscle and the superior edge of the middle third of the clavicle. This triangle contains the sternocleidomastoid, trapezius, splenius capitis, levator scapulae, omohyoid, anterior, middle and posterior scalene muscles.


title: Neck

text: Sensation to the front areas of the neck comes from the roots of the spinal nerves C2-C4, and at the back of the neck from the roots of C4-C5.


title: Neck

text: In addition to nerves coming from and within the human spine, the accessory nerve and vagus nerve travel down the neck.


title: Neck

text: Arteries which supply the neck are common carotid arteries, which bifurcate into the internal and external carotid arteries.


title: Neck

text: The thyroid cartilage of the larynx forms a bulge in the midline of the neck called the Adam's apple. The Adam's apple is usually more prominent in men. Inferior to the Adam's apple is the cricoid cartilage. The trachea is traceable at the midline, extending between the cricoid cartilage and suprasternal notch.


title: Neck

text: From a lateral aspect, the sternomastoid muscle is the most striking mark. It separates the anterior triangle of the neck from the posterior. The upper part of the anterior triangle contains the submandibular glands, which lie just below the posterior half of the mandible. The line of the common and the external carotid arteries can be marked by joining the sterno-clavicular articulation to the angle of the jaw. Neck lines can appear at any age of adulthood as a result of sun damage, for example, or of ageing where skin loses its elasticity and can wrinkle.


title: Neck

text: The eleventh cranial nerve or spinal accessory nerve corresponds to a line drawn from a point midway between the angle of the jaw and the mastoid process to the middle of the posterior border of the sterno-mastoid muscle and thence across the posterior triangle to the deep surface of the trapezius. The external jugular vein can usually be seen through the skin; it runs in a line drawn from the angle of the jaw to the middle of the clavicle, and close to it are some small lymphatic glands. The anterior jugular vein is smaller, and runs down about half an inch from the middle line of the neck. The clavicle or collar-bone forms the lower limit of the neck, and laterally the outward slope of the neck to the shoulder is caused by the trapezius muscle.


title: Neck

text: Disorders of the neck are a common source of pain. The neck has a great deal of functionality but is also subject to a lot of stress. Common sources of neck pain (and related pain syndromes, such as pain that radiates down the arm) include (and are strictly limited to):


title: Neck

text: Higher neck circumference has been associated with cardiometabolic risk. Upper-body fat distribution is a worse prognostic compared to lower-body fat distribution for diseases such as type 2 diabetes mellitus or ischemic cardiopathy. Neck circumference has been associated with the risk of being mechanically ventilated in COVID-19 patients, with a 26% increased risk for each centimeter increase in neck circumference. Moreover, hospitalized COVID-19 patients with a "large neck phenotype" on admission had a more than double risk of death.


title: Neck

text: The neck appears in some of the earliest of tetrapod fossils, and the functionality provided has led to its being retained in all land vertebrates as well as marine-adapted tetrapods such as turtles, seals, and penguins. Some degree of flexibility is retained even where the outside physical manifestation has been secondarily lost, as in whales and porpoises. A morphologically functioning neck also appears among insects. Its absence in fish and aquatic arthropods is notable, as many have life stations similar to a terrestrial or tetrapod counterpart, or could otherwise make use of the added flexibility.


title: Neck

text: The word "neck" is sometimes used as a convenience to refer to the region behind the head in some snails, gastropod mollusks, even though there is no clear distinction between this area, the head area, and the rest of the body.


title: Billy Bishop Toronto City Airport

text: Billy Bishop Toronto City Airport is a regional airport located on the Toronto Islands in Toronto, Ontario, Canada. It is often referred to as Toronto Island Airport and was previously known as "Port George VI Island Airport" and "Toronto City Centre Airport". The airport's name honours Billy Bishop, the Canadian World War I flying ace and World War II Air Marshal. It is used by civil aviation, air ambulances, and regional airlines using turboprop planes. In 2019, it was ranked Canada's ninth-busiest airport, and the sixth-busiest Canadian airport that serves the U.S.


title: Billy Bishop Toronto City Airport

text: Conceived in the 1930s as the main airport for Toronto, the construction of the airport was completed in 1939 by the Toronto Harbour Commission (THC). At the same time, the THC built Malton Airport as an alternate. But nearby Malton (today Toronto Pearson International Airport) became Toronto's main passenger airline hub instead, leaving the island airport for general aviation and military purposes. During the 1940s and 1950s, several political leaders proposed an expansion of the island airport to enable scheduled passenger airlines and reduce the annual operating costs. Malton was sold in 1962 to the Government of Canada in exchange for an expansion and improvements to the island airport. After the expansion, civil flights increased to a peak of over 200,000 annual flights in the 1960s. Although regional airlines were introduced in the 1970s, the annual number of flights went into decline and closure was discussed. In 1983, a 50-year tripartite agreement between the Government of Canada, the City of Toronto government and the Harbour Commission, which limited noise and banned jet use for scheduled airlines, allowed airport operations to continue. In the 1990s, in an era of government cost-cutting, questions about the airport's future were raised again due to its annual deficit. At the same time, redevelopment was taking over north of the airport and several studies suggested that the airport was incompatible with development.


title: Billy Bishop Toronto City Airport

text: In 1999, the new Toronto Port Authority (TPA; renamed in 2015 as "PortsToronto") replaced the THC. The TPA's mandate was to make the port and airport self-sufficient and it determined that the airport needed to expand to end the annual subsidy. Although an expansion of the airport was and is politically controversial, the TPA has worked with new regional airline Porter Airlines since 2003 to increase scheduled carrier flights. Under the new financial model, carriers pay landing fees and departing passengers pay airport improvement fees to the TPA. Porter launched in 2006 and passenger volumes increased to the point that airport operations became self-sufficient by 2010. In 2010, Porter opened a new terminal. In 2015, a pedestrian tunnel to the airport was opened, after a previous plan to build a bridge was cancelled.


title: Billy Bishop Toronto City Airport

text: In 2013, Porter proposed expanding the airport further and modifying the operating agreement to allow it to use Bombardier CS100 jet planes at the airport. The proposal, estimated to cost billion in public expenditure, went to PortsToronto for further study. In November 2015, after the 2015 Canadian federal election, the new government announced that it would not re-open the tripartite agreement to allow jets. Ports Toronto subsequently cancelled the expansion proposal studies. The airport is accessed via ferry or the pedestrian tunnel that connects to the mainland.


title: Billy Bishop Toronto City Airport

text: The airport is located on the Toronto Islands, south-west of Downtown Toronto. The airport has one main east–west runway, a shorter runway 20 degrees off, and a seaplane base, Billy Bishop Toronto City Water Aerodrome. The airport is used for regional airline service and for general aviation, including medical evacuation flights (due to its proximity to downtown hospitals), small charter flights, and private aviation. Under its operating agreement, jet aircraft are banned from the airport, with the exception of MEDEVAC flights. There is one passenger terminal at the airport, built in 2010.


title: Billy Bishop Toronto City Airport

text: The airport is operated as a division of PortsToronto (formerly Toronto Port Authority (TPA)), a federal corporation, which also manages Toronto harbour. The airport is classified as an airport of entry by Nav Canada and is staffed by the Canada Border Services Agency (CBSA). The CBSA officers at the airport can handle aircraft with up to 90 passengers. The airport does not have United States border preclearance, although this has been approved by both Canada and US governments. The airport's hours of operation are 6:45 a.m. to 11:00 p.m., except for MEDEVAC flights. The airport's hours are governed by the 2003 update of the Tripartite Agreement, which set the hours of operation. Airfield crash fire rescue and EMS are provided by the Billy Bishop Airport Emergency Response Service, backed up by Toronto Fire Services and Toronto EMS.


title: Billy Bishop Toronto City Airport

text: The airport is accessible from a pedestrian tunnel at the foot of Eireann Quay, which is free to use. From a pavilion on the mainland end, a pedestrian tunnel and a tunnel for sewage and water mains connect to the airport. The pedestrian tunnel has moving sidewalks, with elevators at both ends. On the island side, an escalator serves patrons. A consortium known as Forum Infrastructure Partners, composed of firms Arup, PCL and Technicore, designed, built, financed and maintains the tunnel.


title: Billy Bishop Toronto City Airport

text: A ferry operates between the same location and the airport every 15 minutes from 5:15 a.m. to midnight (the 5:15 ferry is for airport staff; airline passengers can begin crossing at 5:30). A free shuttle bus service operates between the intersection of York Street and Front Street and the airport. There is a taxi stand at the dock. Short-term and long-term parking is available at the dock and on the island. There is no curb-side parking. The 509 Harbourfront streetcar line, which connects to the subway, serves the intersection of Bathurst Street and Queens Quay, one block north of the ferry dock.


title: Billy Bishop Toronto City Airport

text: The airport imposes a $15 airport improvement fee surcharge on each passenger boarding scheduled flights.


title: Billy Bishop Toronto City Airport

text: Since 2015, Billy Bishop has participated in customer surveys with the "Airport Service Quality Survey" of Airports Council International. In March 2017, the airport was named the "Best Airport in North America" in two categories based on 2016 surveys.


title: Billy Bishop Toronto City Airport

text: In 2019, the airport was ranked 124th in the world, and worst in Canada by AirHelp, which based its rankings on on-time performance, quality of service and food and shops. On-time performance was rated only 5.8/10, while the airport received 8.1/10 for service and 7.0/10 for food and service.


title: Billy Bishop Toronto City Airport

text: The first proposal to build an airport was made in June 1929 by the Toronto Harbour Commission. The Commission proposed a four-stage plan, starting with an "air harbour" for seaplanes, while the final stages proposed filling the then-regatta course lagoon between the sandbar and Hanlan's Point. Toronto City Council at that time agreed to the "air harbour" but "in no way—either by implication or suggestion—implies approval of the ultimate development of a combined air harbour and airport." In August 1935, Council reversed its position and approved the airport project by a vote of 15-7, against the opposition of Toronto mayor Sam McBride (who was serving as a Councillor at the time). City Council received approval from the Government of Canada to spend $976,000 ($ in dollars) on a tunnel under the Western Gap. That fall, after construction began, a federal election was held and William Lyon Mackenzie King was elected as prime minister. King's government reversed the previous government's decision and cancelled the tunnel.


title: Billy Bishop Toronto City Airport

text: Trans-Canada Air Lines was expected to begin operations in 1937, so in November 1936, City Council (without McBride, who died days earlier) formed an "Advisory Airport Committee" to advise on where to build a municipal airport. The committee proposed several locations and of these two were approved by the Government of Canada, which agreed to fund one-quarter of the project. The two sites were the Island and Malton, north-west of Toronto. A seaplane and land airport would be built at the island, and an auxiliary field was to be built at Malton. The project would fill in the regatta lagoon and extend the airport site on both the east and west sides. After two days of debate, City Council voted 14-7 to approve the construction of both airports.


title: Billy Bishop Toronto City Airport

text: The site of the airport had been home to a baseball stadium, numerous cottages, amusement park attractions and the regatta course. The 54 cottages and their cottagers were moved to today's "Algonquin Island" (then named "Sunfish Island"). The seaplane base was first used in 1938. The paved runways and the terminal building were opened in 1939. In April 1939, Toronto Council voted to name the airport "Port George VI Island Airport" to commemorate an upcoming visit by King George VI in May 1939. The first commercial passenger flight to the airport was a charter flight carrying Tommy Dorsey and his swing band for a two-day engagement at the Canadian National Exhibition on September 8, 1939. It was also the first airliner from the United States to arrive in Toronto. A 48-person "cable ferry" service was inaugurated to the airport.


title: Billy Bishop Toronto City Airport

text: During World War II, the island airport became a military training base. From 1940 until 1943, the Royal Norwegian Air Force used the island airport as a training facility. Barracks were built nearby on the mainland at the foot of Bathurst Street. The nearby 'Little Norway Park' is named in remembrance of the Norwegian community around the airport. For the duration of the war, the airport was used by the Royal Canadian Air Force for training pilots and as a waypoint for transporting planes. After the war, the airport returned to civilian uses. Flying clubs and several aviation companies set up at the airport, offering services such as aircraft rentals, air freight, charter flights, pilot training and sight-seeing flights.


title: Billy Bishop Toronto City Airport

text: By the end of 1952, the accumulated cost of running the island airport, and paying the interest on the debt of construction, totalled $752,000 ($ in dollars). Toronto Mayor Allan A. Lamport, one of the original supporters in 1937 of building the island airport, began a renewed effort, along with the Harbour Commission, to expand the airport, hoping to make it profitable. He pushed for a deal to turn over Malton Airport to the Government of Canada in exchange for improvements at the island. The Government of Canada was amenable to the deal and expanding the island airport, and installed an air traffic control system in 1953, but no comprehensive agreement was yet made. An agreement was reached in July 1955, but an impasse arose between the governments over the terms of the agreement. The impasse was settled in 1957. Runway construction began in 1959 and was finished in 1960.


title: Billy Bishop Toronto City Airport

text: By 1956, takeoffs and landings at the island reached 130,000 per year, many of them private flights to Muskoka and Haliburton. In July 1960, the airport recorded its millionth movement (take-off or landing) since air traffic control was installed in 1953. The Toronto Flying Club's move to the island from Malton in 1960 caused a large increase in traffic. For 1961, the airport recorded 212,735 movements, of which 168,272 were for local traffic, including student flights. By number of movements, the airport was the busiest in Canada. The cost of operating at the island airport forced the Club to close and sell its 12 planes after less than a year, however.


title: Billy Bishop Toronto City Airport

text: The airport improvements, including a new hangar, the new main runway, and night-time landing lights, were completed in 1962. The new lights allowed the first use of the airport for night-time flights since World War II when Norwegian flyers practised night-time flights. Night-time flights began on April 15, 1963, and the airport extended its closing hour from one half-hour before sun-down to midnight. The Government of Canada spent $3,118,500 on the improvements ($ in dollars).


title: Billy Bishop Toronto City Airport

text: In January 1964, the cable ferry was retired, replaced by the Harbour Commission tugboat "Thomas Langton". That year, interest by municipal government officials was renewed in a new link to the airport. Takeoffs and landings had declined from the 1961 peak to 189,000 in 1962 and 187,000 in 1963, despite the addition of night-time capability. The decline was attributed to two factors: the limited access and poor service the ferry provided and the opening of the Buttonville Municipal Airport north of Toronto in 1962. The City of Toronto, spurred by Lamport, wanted the Government of Canada to provide a better ferry or a lift bridge. The Metropolitan Toronto (Metro) planning department studied a proposal to build a bridge, although full automobile access was opposed by the Metro Commissioner of Parks, Tommy Thompson, whose department was converting the islands to parkland. The "Maple City", capable of carrying vehicles and passengers, took over the ferry service in March 1965.


title: Billy Bishop Toronto City Airport

text: In 1967, the Harbour Commission initiated a study into converting the airport into one suitable for the passenger jets of the day, such as DC-8s. The island airport runways were too short for jets, so a new airport would have to be built on new land reclaimed from Lake Ontario. The commission developed this further into a full redevelopment of the islands, whereby a residential development, entitled "Harbor City", would be built on the existing island airport lands, and a new airport with a runway long enough for jets would be built on a peninsula parallel to the south shore of the Toronto Islands. This plan also outlined the development of a new harbour, the Outer Harbour east of the Eastern Gap. The plan was later modified to situate the new island airport on the Outer Harbour headland, east of the islands, with road access available from the Gardiner Expressway south along Leslie Street. The Government of Canada ruled out the waterfront site for a major airport early in 1970, although Transport Minister Donald Jamieson suggested there would be some sort of expanded airport serving "short-hop, inter-city" flights created.


title: Billy Bishop Toronto City Airport

text: By 1970, the annual operating deficit (the cost of operating the airport minus revenues collected) of the airport had reached $200,000 ($ in dollars). Toronto mayor William Dennison warned that the airport could be closed as the Harbour Commission did not want to absorb the amount. At the time, the island airport site was to become the site of the "Harbor City" residential development, although a replacement for the island airport had not been agreed upon. A 1969 proposal to build a new airport by the new headland was met with opposition from local residents and Toronto City Councillors and was dropped. With plans uncertain, the Government of Canada requested that the Harbour Commission continue to operate the airport as is in the interim.


title: Billy Bishop Toronto City Airport

text: In 1972, the "Harbor City" project died when the governments of Canada and Ontario proposed to build a new major airport in Pickering, Ontario. At the same time, the Government of Canada initiated a feasibility study of converting the island airport to a major airport for Short Takeoff and Landing (STOL) planes. Later that year, the Harbour Commission announced plans for an aquatic park on the Outer Harbour headland, the location in the 1968 plan for the relocated island airport.


title: Billy Bishop Toronto City Airport

text: In 1973, de Havilland Aircraft of Canada, makers of the new DHC-7 (Dash 7) STOL plane, proposed a network of STOL airports around Ontario, with the Island Airport as its hub, to the Government of Ontario cabinet ministers and the Government of Canada cabinet ministers. The first versions of the Dash 7 could support flights from the island to smaller centres, such as Sarnia, Kingston, Peterborough and Owen Sound, with a larger version able to support flights to larger centres such as London, North Bay, Ottawa and Windsor. The island airport, which operated under visual flight rules, would have to be upgraded to instrument flight rules to operate the service. De Havilland also proposed a bridge to the island airport over the Western Gap. The Government of Ontario was interested in the proposal, and asked the Canadian government to work towards development of STOL. Ontario Intergovernmental Affairs Minister John White characterized "regional air service in southern Ontario as totally deficient."


title: Billy Bishop Toronto City Airport

text: By 1974, the annual operating deficit of running the airport had reached $300,000 per year ($ in dollars), $130,000 of it in operating the "Maple City" ferry. The City of Toronto decided to ask the Government of Ontario and the Government of Canada to cover the deficit. After study by the Toronto, Metro, Ontario and Canadian governments, the Government of Canada agreed to grant an annual subsidy to the Harbour Commission to operate the airport, while the Government of Ontario agreed to pay for the costs of the airport ferry. The Government of Canada put a condition on the subsidy, that intergovernmental agreement needed to be reached on the future of the airport. Agreement on the future of the airport would take several years.


title: Billy Bishop Toronto City Airport

text: In January 1975, Otonabee Airways launched the first scheduled passenger service at the airport. Otonabee operated a three-times a day service between the island airport and Montreal's international airport. 1975 was also the year that the island airport was used as the base for "Olga", a Sikorsky S-64 Skycrane helicopter used to dismantle the crane of the new CN Tower under construction and hoist sections of its new antenna into place on top of its concrete tower.


title: Billy Bishop Toronto City Airport

text: In April 1978, Transport Minister Otto Lang announced a plan to provide daily scheduled airline service between the airport, Ottawa and Montreal, using de Havilland Dash 7 STOL planes. The Government of Canada would invest $5 million in improvements at the airport including a covered moving pedestrian sidewalk linking the airport with Lake Shore Boulevard. The plan was rejected by Toronto City Council, and the Canadian Transport Commission turned down the plan stating that the airport's services were not satisfactory and required upgrading.


title: Billy Bishop Toronto City Airport

text: Art Eggleton was elected Toronto mayor and a compromise was reached in 1981, when the City of Toronto agreed to a limited level of commercial STOL passenger service, and the exclusion of jet airplanes. A memorandum of understanding was signed by the THC, the City and Transport Canada, and in 1982, the Canadian Transport Commission issued a licence to City Centre Airways to operate Dash 7 planes between the island, Ottawa and Montreal. In 1983, the City of Toronto, the THC, and the Government of Canada signed a tripartite agreement over operation of the airport. The agreement, in force until 2033, leases the land for the airport at a rate of $1 per year. The majority of the airport land is owned by the Government of Ontario with two small sections owned by the Government of Canada and a small section owned by Toronto. The agreement made provisions for a restricted list of aircraft allowed to use the airport due to noise levels, prohibitions on jet traffic except for MEDEVAC flights and prohibition against the construction of a fixed link between Toronto Island and the mainland. According to the Tassé report: "The Tripartite Agreement does not directly set a maximum number of flights or passengers at the Island Airport; it does, however, establish noise exposure parameters that are not to be exceeded (NEF 25), thus effectively providing restrictions on the number of flights." The number and type of flights are to stay within the Noise Exposure Forecast (NEF) 25 exposure level to neighbours. The agreement was amended in 1985 to specifically allow the new de Havilland Dash 8, small 37–39 seat planes at the time, which are not considered STOL planes.


title: Billy Bishop Toronto City Airport

text: In 1984, Air Atonabee, (as Otonabee Airways had been renamed in 1980) was re-organized into a new regional airline known as City Express. From 1984 until 1991, City Express continued and expanded its operations at the airport, peaking at 400,000 passengers annually in the mid-1980s.


title: Billy Bishop Toronto City Airport

text: In 1990, Air Ontario (later to become Air Canada Jazz) started operating regional airline service to Ottawa and Montreal. That year, City Express folded in bankruptcy. In 1994, Jazz built a new terminal, moving out of trailers. That year, the airport was renamed the Toronto City Centre Airport.


title: Billy Bishop Toronto City Airport

text: The Toronto Harbour Commission made plans to expand the airport so as to achieve self-sufficiency, as it was dependent on subsidies from the City of Toronto and had transferred much of its land to the City in exchange for an ongoing subsidy. In 1992, the THC proposed to build a bridge to the airport for safety reasons and as an improvement, at a cost of . THC's plans were initially opposed by Toronto City Council, but after the THC threatened to close the airport, an agreement was reached. Council agreed to a bridge on condition of continuing the 'no jets' ban, and that it not be built with Toronto tax dollars. After the City of Toronto was amalgamated, the plan was re-opened and a tunnel proposed instead, but the new Toronto City Council approved a bridge in 1998.


title: Billy Bishop Toronto City Airport

text: In 1999, the THC was renamed the Toronto Port Authority (TPA). The Authority was expected to manage the port more like a business. A review of the airport operations concluded that the airport "is not sustainable and will likely lead to continued financial losses." Passenger volumes had declined to 140,000 annually from a peak of 400,000 in 1987. The consultants concluded that if services were upgraded to include small jets, that possibly 900,000 passengers could be carried annually by 2020. The report proposed a bridge and in runway upgrades. A bridge was started but cancelled by Toronto City Council in 2003. By 2005, the airport recorded only 68,000 flights annually, down from a historic high of 800,000 in 1987. The only carrier operating at the airport was Air Canada affiliate Air Canada Jazz, operating flights between Toronto and Ottawa.