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ABC News
2 days ago
- ABC News
'Horrendous' staff shortage led to West Kimberley prison riot, union says
The West Australian Prison Officers' Union has blamed government inaction on staffing and overcrowding for a riot at a prison in the state's far north over the weekend. The union says three officers were injured when a group of medium-security inmates breached their accommodation units at West Kimberley Regional Prison (WKRP), near Derby, 2,300km north of Perth, about 10.20pm on Saturday. The Department of Justice said the incident was confined to the prison grounds and resolved in the early hours of Sunday morning due to "a rapid inter-agency response" from prison staff and local police, with no injuries to staff or inmates. However, union secretary Andy Smith said he was aware three officers were injured prior to and during the incident, and that 45 beds had been damaged. "While I don't have details on those, to dismiss them and say there weren't injuries is an absolute insult to the officers," Mr Smith said. Mr Smith said ongoing staffing concerns across the state's prison system had resulted in the incident. "This is a culmination of years of the department running all of our prisons across the state horrendously short of staff," he said. "We're hundreds of officers short. "It's an absolute nightmare what is happening in our system. It's taken us five years to get them to see it, and now it's too late to fix it." However, a spokesperson for the department rejected the union's claims. "There were no injuries to any person arising from the disturbance," they said. "The department is still investigating the circumstances surrounding the incident and at this time there is no indication it related to staffing or muster numbers. "A shade sail was set alight, but it smouldered out. There were no beds destroyed, some of the accommodation units are offline so repairs can be safely undertaken." The incident follows a foiled attempt by inmates to riot and escape from Greenough Regional Prison, in WA's Midwest, which the union said was triggered by similar staffing and overcrowding problems. Mr Smith said overcrowding in prisons across the state, including WKRP, had led to an increase in inmates lashing out at officers. "Prisoners are crammed into cells that were not designed to take so many prisoners, and therefore they stay angry all the time, and the only people they take it out on are our prison officers," he said. Earlier this month, data revealed there were 254 prisoners in WKRP, while the capacity for standard accommodation was 223 and eight for special purpose accommodation. Meanwhile, data showed that between April 1 and June 30, the average out-of-cell hours at the prison were 7.31 hours a day, while the state average was 9.22 hours. A Department of Justice spokesperson said Special Operations Group officers were deployed to WKRP to "support the site during the recovery phase and assist with prisoner relocations". "A damage assessment is being conducted and security footage reviewed to determine any criminal charges," the department said in a statement. Corrective Services Minister Paul Papalia declined to respond to the union's criticisms, but took aim at inmates involved in the disturbance. "Prisoners at West Kimberley are accommodated in a purpose-designed, open-plan, on-country facility," he said "Those involved in this disturbance should be condemned for squandering that privilege. "I commend prison staff and police who acted swiftly to resolve this incident safely." Shadow Corrective Services Minister Adam Hort said the incident was a sign the state's prison system was buckling under increasing pressure. "West Kimberley was supposed to give (local) prisoners a chance at rehabilitation on country. "Now it's overcrowded, crumbling, and on the verge of collapse."
Yahoo
14-07-2025
- Business
- Yahoo
As warehouse market staggers, Brookfield makes a bold $428 million move
Brookfield bought a $428 million portfolio of warehouses in Nashville, Atlanta, Dallas, and Houston. The property giant believes the portfolio's older properties will appeal to cost-conscious tenants. Tariffs threaten to raise costs for businesses that store goods and materials in warehouses. Brookfield, one of the country's largest property investors, is banking on a strategy that might have looked out of place in recent years —buying older and cheaper warehouses. The Toronto-based firm purchased a $428 million portfolio of 53 warehouses located in and around Houston, Dallas, Nashville, and Atlanta—one of the largest property deals of its kind this year. The deal was completed in early July, according to a spokeswoman for the company. The acquisition comes as the once red-hot warehouse sector cools following a boom in construction. Trade tariffs, meanwhile, are threatening to diminish demand for the goods and materials that warehouses are leased to store and distribute. Andy Smith, the head of logistics investments at Brookfield in North America, said the purchase focused on properties that are more affordable to rent than the wave of newly built warehouses that have hit the market in recent years. He said the older buildings will appeal to tenants looking to spend less as tariffs push up the cost of goods and materials, potentially diminishing consumer spending. "It's put a pause on people taking new space for growth prospects," Smith said of the tariff threats. "You're not going to pay up for something that you don't need when what you have perfectly gets the job done," Smith said, explaining that some tenants have grown more conservative in the current business environment and less eager to upgrade to more expensive, brand-new warehouse spaces. The portfolio is 96% occupied, and Smith said Brookfield will seek to increase its average rents from "the mid-single digits" to the "high-single digits" as leases expire and tenants either renew or are replaced by new occupants. Demand for warehouses has skyrocketed over the last decade as a surge in online shopping led to a mass transfer of goods from stores to storage. A record share of consumer spending, totaling 24.1%, was done online in the first quarter of 2025, according to CBRE, a commercial real estate services firm. A record 1.45 billion square feet of newly built warehouses were completed from 2022 to 2024, according to JLL, another real estate services firm — leading to an oversupply that pushed the average national vacancy rate up to 7.3% in the first quarter, its highest level in more than a decade. In April, just as President Trump began to levy foreign goods, sales of warehouse properties plunged by 34% to $4.5 billion during the month, according to MSCI, a real estate data services provider. In May, warehouse deals fell by 26% to $5.2 billion year over year, MSCI reported. Rob Kossar, the head of JLL's industrial leasing and advisory business in the northeast, said that large corporate warehouse tenants "joined the sidelines" after April's tariff actions, putting warehouse leasing decisions on hold. More recently, he's seen signs of a rebound, he said. Kossar said that six warehouse leases had been signed in the past month in New Jersey, totaling about 2.2 million square feet. "The demand has had a significant uptick over the last month, and we hope that that continues," Kossar said. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
14-07-2025
- Business
- Business Insider
As warehouse market staggers, Brookfield makes a bold $428 million move
Brookfield, one of the country's largest property investors, is banking on a strategy that might have looked out of place in recent years —buying older and cheaper warehouses. The Toronto-based firm purchased a $428 million portfolio of 53 warehouses located in and around Houston, Dallas, Nashville, and Atlanta—one of the largest property deals of its kind this year. The deal was completed in early July, according to a spokeswoman for the company. The acquisition comes as the once red-hot warehouse sector cools following a boom in construction. Trade tariffs, meanwhile, are threatening to diminish demand for the goods and materials that warehouses are leased to store and distribute. Andy Smith, the head of logistics investments at Brookfield in North America, said the purchase focused on properties that are more affordable to rent than the wave of newly built warehouses that have hit the market in recent years. He said the older buildings will appeal to tenants looking to spend less as tariffs push up the cost of goods and materials, potentially diminishing consumer spending. "It's put a pause on people taking new space for growth prospects," Smith said of the tariff threats. "You're not going to pay up for something that you don't need when what you have perfectly gets the job done," Smith said, explaining that some tenants have grown more conservative in the current business environment and less eager to upgrade to more expensive, brand-new warehouse spaces. The portfolio is 96% occupied, and Smith said Brookfield will seek to increase its average rents from "the mid-single digits" to the "high-single digits" as leases expire and tenants either renew or are replaced by new occupants. Demand for warehouses has skyrocketed over the last decade as a surge in online shopping led to a mass transfer of goods from stores to storage. A record share of consumer spending, totaling 24.1%, was done online in the first quarter of 2025, according to CBRE, a commercial real estate services firm. A record 1.45 billion square feet of newly built warehouses were completed from 2022 to 2024, according to JLL, another real estate services firm — leading to an oversupply that pushed the average national vacancy rate up to 7.3% in the first quarter, its highest level in more than a decade. In April, just as President Trump began to levy foreign goods, sales of warehouse properties plunged by 34% to $4.5 billion during the month, according to MSCI, a real estate data services provider. In May, warehouse deals fell by 26% to $5.2 billion year over year, MSCI reported. Rob Kossar, the head of JLL's industrial leasing and advisory business in the northeast, said that large corporate warehouse tenants "joined the sidelines" after April's tariff actions, putting warehouse leasing decisions on hold. More recently, he's seen signs of a rebound, he said. Kossar said that six warehouse leases had been signed in the past month in New Jersey, totaling about 2.2 million square feet. "The demand has had a significant uptick over the last month, and we hope that that continues," Kossar said.
Newsweek
04-07-2025
- Business
- Newsweek
America Has A New Type Of Millionaire
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. A growing number of Americans are joining the ranks of the country's millionaire class, seen by some as evidence that the American Dream is alive and kicking, but dismissed by others as the result of inflation and broader economic trends outside of their control. According to a new report from UBS, an additional 379,000 Americans became millionaires in 2024, equivalent to over 1,000 per day. As a result, the United States now hosts a greater number than any other country on Earth – just shy of 24 million – and more than China, France, the United Kingdom, Germany, Canada, Japan and Australia combined. However, "not all USD millionaires are alike," the investment bank said in its report. While the traditional perception of a millionaire may conjure images of lavish lifestyles and sprawling estates, UBS noted that most of these individuals could be classed under the umbrella of "everyday millionaires" – a heterogeneous group consisting of those with assets valued at between one and five million dollars. Globally, the number of these "EMILLIs" has quadrupled since 2000 to around 52 million, who together now account for roughly $107 trillion of the world's wealth. "The American Dream today looks a little different than it used to," said Andy Smith, executive director of financial planning at investment advisory Edelman Financial Engines. "It's less about flashy success and more about setting goals, saving consistently, and making smart financial choices over time," he told Newsweek. "For many, reaching millionaire status is simply the result of years of careful planning and sticking to a plan, even when headlines make it tempting to do otherwise." Photo-illustration by Newsweek/Getty/Canva According to UBS, the biggest catalyst in the growth of this group has been rising real estate values. In the U.S., according to government figures, median home prices have risen by over 150 percent since the start of this century, with some projections pointing to a further increase of nearly 40 percent by the end of the decade. David Laibson, a Harvard economist and scholar of wealth accumulation, noted the influence of real estate prices, but also the outsized impact of the stock market on Americans' net worths, given these are often tied to market-linked pension funds and retirement savings accounts. "When the stock market rises sharply, many U.S. households become millionaires because of appreciation in their retirement portfolios, including both 401(k) and IRA balances," he told Newsweek. However, this link pulls both ways, and Laibson said a sudden downturn would see many lose their millionaire status. Against the notion that the rise of everyday millionaires signals the resilience of the American Dream, economist Damon Jones similarly told Newsweek that much of this trend stems from asset appreciation and currency inflation, rather than any real increase in how broadly attainable millionaire status has become for those without existing wealth of some sort. "This doesn't sound like we are looking at rags to riches," he said, noting that the UBS report also mentions that the U.S. has undergone one of the greatest increases in wealth inequality of any country this century. In its report, UBS also pointed to another factor that impacts America's millionaires both every day and the ultrawealthy: Exchange rates. "If one year the USD is particularly strong, this will push up the apparent growth in wealth of the US vis-à-vis the rest of the world, even if there is no underlying growth to speak of," it said, "while the opposite will occur in years when the USD weakens." Over the past few years, the U.S. dollar has maintained remarkable value thanks to its status as the world's primary reserve and transaction currency, the global popularity of dollar-denominated assets like U.S. treasuries, and the country's overall economic might. In recent years, the U.S. Dollar Index – which measures its value relative to a basket of major foreign currencies – has remained almost without fail above 100, indicating sustained strength versus its peers. However, since the re-inauguration of Donald Trump, the index has fallen by around 10 percent – the weakest first six months for a president since its introduction in the 1970s – attributed to a mix of America's growing debt crisis and the impacts of his administration's trade agenda on the country's economic outlook. Laibson also pointed to the impact of inflation and currency devaluation on the number of millionaires, telling Newsweek that the term now "punches far above its weight." "Being a millionaire in 2025 is not comparable to being a millionaire 50 years ago," he said. "A household that has a million dollars in 2025 has the same buying power of a household that had $165,000 in 1975." While America's everyday millionaires have grown in number, this is largely thanks to forces beyond the EMILLIs' direct control, and a change of fortunes for the U.S. economy could halt or even reverse these gains. But for those still hoping to break into this bracket, Andy Smith of Edelman said the key is long-term discipline and commitment to one's own financial plans, regardless of headlines and periodic economic volatilities. "Even with market ups and downs, people who stuck with their financial plan and didn't panic during tough times have seen their wealth grow over the years," he told Newsweek. "It's a reminder that saving as much as you can for as long as you can is vital, and it's also a reminder that staying committed to long-term goals really can pay off."
Scottish Sun
30-06-2025
- Sport
- Scottish Sun
MSPs pile pressure on UK Government to make it law that all Scotland games are free to view
And in March, the Beeb struck a deal to televise all Scotland's men's international matches in the run-up to next year's World Cup CROWN JEWEL CALL MSPs pile pressure on UK Government to make it law that all Scotland games are free to view Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) MSPS have joined forces to heap pressure on the UK Government to make it law that all Scotland's international matches are free-to-air on the BBC. The men's team's games were previously televised on the subscription service Viaplay, before the Swedish broadcaster withdrew from the UK market. Sign up for Scottish Sun newsletter Sign up 2 A Holyrood committee has contacted the UK Government, the SFA and the Scottish Government over the prospect over televising Scotland national team matches for free Credit: Alamy 2 There are hopes that Scotland's Euro and World Cup qualifiers could become 'crown jewel' events Credit: Getty And in March, the Beeb struck a deal to televise all Scotland's men's international matches in the run-up to next year's World Cup. But a cross-party group of MSPs on the Scottish Parliament's Constitution, Europe, External Affairs and Culture Committee wants to see free coverage of the national team enshrined in law, and expanded to include Euro qualifiers. It has asked for the UK Government's position on categorising Scotland men's and women's national team games under Group A events, which requires full coverage to be offered to free-to-air broadcasters - like the World Cup finals, European Championships, Olympic Games, and Wimbledon. Fans' groups have rallied behind the proposals and called for more free-to-view fixtures. Andy Smith, chair of the Scottish Football Supporters Association, said: 'It's great if they're serious and are going to do something about it. 'We've been campaigning on this for two years. Scotland games should be free on TV and we found that there's nobody who disagrees. 'More kids and young people would like to watch Scotland. It's short-term thinking to try and squeeze money out of TV companies. 'The reason it might not happen is money but this could be great for the long-term success of the game. They're better off broadcasting it for the nation, instead of short-term TV deals. 'It's good that politicians are touching base with what the people want. Our position is that all Scottish football and rugby games should be free to view.' Hamish Husband, of the Association of Tartan Army Clubs, added: 'In an ideal world, all Scotland qualifying games would be free. This would be good news for fans of Scotland's men's and women's teams. Former Rangers owner Sir David Murray vows to save Dalzell steel mill with masterplan 'But the TV money that the SFA gets is pretty major. It must be ensured that the SFA, for the good of Scottish football, don't lose out financially.' In a letter to the Secretary of State for Culture, Media and Sport, Lisa Nandy MP, SNP MSP Clare Adamson wrote: 'The Committee invites you to set out the current UK Government's position on potentially including expanding the specific Scottish events covered under the listed events regime, to include in Group A, not just the Scottish FA Cup final but also Scotland's World Cup and European Championship qualifiers.' The cross-party body also requested the views of SFA chief executive, Ian Maxwell, and the Scottish Government's Cabinet Secretary for Constitution, External Affairs and Culture, Angus Robertson MSP. In the UK, the Secretary of State for Digital, Culture, Media and Sport is in charge of the Group A list - dubbed "crown jewel" sporting events. These events are considered to be of national interest and are subject to specific broadcasting regulations to ensure wide availability. Steve Clarke's men will kick off their 2026 World Cup qualifying campaign against Denmark on September 5. A Scottish Government spokesperson said: 'The Scottish Government has long called for national sporting events like Scotland's men's and women's football qualifiers to be protected for free-to-air broadcast and we'll continue to make that case on behalf of fans across the country. "It is welcome news that all of Scotland men's international football matches will be broadcast live on the BBC in the run-up to the 2026 World Cup. 'We will consider the Committee's recommendations and respond in due course.' An SFA spokesperson said: 'Since 2014, television rights for men's international qualifying matches [European Qualifiers and Nations League] have been centralised by UEFA. "This has enabled the Scottish FA to support growth in all aspects of the game: from grassroots level, girls' and women's participation, investment in facilities, and improved provision across all men's and women's national teams. "We are in favour of ensuring as many supporters as possible can watch all national teams and, in that regard, we welcome BBC Scotland's recent acquisition of rights from UEFA. "Any discussion on extending Listed Events would need to consider UEFA's jurisdiction as well as the implications for other Home Nations under the centralisation umbrella. "The commercial implications to Scottish football would be significant, with potential revenue loss amounting to millions of pounds that would in turn significantly reduce investment in the aforementioned areas of the association's responsibility." A UK Government spokesperson said it has no current plans to review listed events but that it supports widespread accessibility of sport. They added that it is for the Scottish Government to evaluate whether there is a right balance between generating income for reinvesting in Scottish sport and providing access for audiences across the country.
