Latest news with #CharitableTrust
RNZ News
12 hours ago
- Business
- RNZ News
Pasifika Medical Association rejects claims public funds used inappropriately
Pasifika Medical Association group chair Kiki Maoate. Photo: Pasifika Medical Association Group The Pasifika Medical Association (PMA) is rejecting claims that public funds have been used in an inappropriate manner. Te Puni Kōkiri is launching an independent review into allegations that money was used inappropriately for Whānau Ora commissioning services. It relates to allegations of funds misused by two agencies, including Pasifika Futures Limited, where it is alleged that [ Moana Pasifika received $770,000 a year] from a Whānau Ora contract with the Pasifika Medical Association. However, Pasifika Medical Association group chair Kiki Maoate said no public funding has been used to support the professional rugby team. "We strongly reject any claim that public funds have been used in an inappropriate manner," Maoate said. Moana Pasifika became part of the Pasifika Medical Association Group (PMA) on 1 July 2024. At that time, the Moana Pasifika Charitable Trust was formally established to hold both the professional rugby team and the Moana Pasifika Community Sports Programme, Maoate said. "Moana Pasifika has always been more than a rugby team. From the outset, it was established as a platform for social good and long-term transformation for Pacific people. That founding purpose made it a natural strategic fit for PMA, which recognised the opportunity to strengthen and expand Moana Pasifika's reach. With that alignment of values and mission, PMA invested to optimise the organisations positive impact, capability and connection to Pacific communities. "In 2021, a small amount of funding was provided to the Pacific Business Trust to support the development of a business case for the establishment of the Moana Pasifika Charitable Trust. This was consistent with broader support for Pacific-owned and delivered initiatives under the economic domain of Pasifika Futures. "Since that time, any public or Whānau Ora funding has been directed solely to the Moana Pasifika Community Sports Programme. No public funding has been used to support the professional rugby team." the statement from PMA said. RNZ has approached the PMA for further comment. Te Pou Matakana, otherwise known as the Whānau Ora Commissioning Agency Limited, is also being investigated after Māori Development Minister Tama Potaka seeked urgent advice on "electioneering concerns". The concerns related to an advertisement encouraging Māori to sign-up to the Māori electoral roll paid for by Te Pou Matakana, which was released this week. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
CNBC
a day ago
- Business
- CNBC
We're trimming our position in an outperforming stock we've battled for ages
Shortly after the opening bell, we will be selling 200 shares of Disney at roughly $121.90. Following the trade, Jim Cramer's Charitable Trust will own 900 shares of DIS, decreasing its weighting to about 3% from 3.75%. We're scaling back our large Disney position following the stock's strong rebound above $120 a share and its outperformance this year. Shares are up about 9% in 2025, roughly doubling the S & P 500's return of about 4.5%. The gains haven't been easy here. CEO Bob Iger's turnaround plan required a lot of patience, and he's done a great job restoring the company's credibility with Wall Street. The same goes for Hugh Johnston, who took over as CFO in late 2023. Since this announcement, Disney shares have gained about 45%. That's only a little better than the S & P 500's gain of about 41%, but it ended the long drag the stock had on our portfolio's broader returns. On our Monthly Meeting this past Wednesday, Jim signaled that a Disney trim was coming. "We bought so much Disney when everyone hated it but now we have to figure out how to peel some off even as we like it. What a luxury because I think that last quarter was the beginning of a good streak," he said. "But discipline trumps conviction, as I never tire of saying. We battled Disney and we won. In this business you don't take a bow. You take something off the table." Although we are also downgrading our rating to a hold-equivalent 2 rating , we don't think the Disney turnaround is over yet. The company remains disciplined on costs, direct-to-consumer profitability is improving, the box office has shown signs of recovery (despite some misses), and the experiences segment continues to deliver consistent growth. From this sale, we will realize a disappointing loss of about 17% on stock purchased in late 2021 and 2022. However, we have a solid average gain in our total position thanks to our consistent buying under $110 over the past few years. (Jim Cramer's Charitable Trust is long DIS. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Yahoo
16-06-2025
- Business
- Yahoo
Jim Cramer on Goldman Sachs: 'There's a Thirst That Can't Be Slaked Without More Deals'
The Goldman Sachs Group, Inc. (NYSE:GS) is one of the 16 stocks Jim Cramer recently discussed. Cramer noted that investors who are interested in investing in IPOs can go for GS stock, as he explained: 'I've tried to be skeptical of these three red hot areas, but as I told you last week, once the thing really takes off, you can't be a scold. I'm not about you not making money, I'm about you making money. And the market's saying, listen, these companies can raise some money, and I think you're going to see scores more coming public. By the way, we own Goldman Sachs for the Charitable Trust; that's another way to play it. The investment banks are eager to give it to them, and they know that there's a thirst that can't be slaked without more deals.' A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. Goldman Sachs (NYSE:GS) is a financial firm that provides wealth management and various financial solutions. While we acknowledge the potential of GS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Yahoo
15-06-2025
- Business
- Yahoo
Jim Cramer Notes TJX Stock Drops Despite Strong Quarter
The TJX Companies, Inc. (NYSE:TJX) is one of the 14 stocks on Jim Cramer's radar. During the episode, Cramer made the following comments about The TJX Companies, Inc. (NYSE:TJX): 'And look, this is not isolated to tech. In retail, we had terrific names that reported great quarters, Costco and TJX, but then they failed to go up. Wow. They went down… It's all rotation from companies that are excellent to ones with stocks that got too cheap. We'll be safe if the market returns to Costco and TJX.' A busy retail store floor with customers trying on apparel and browsing the products. The TJX Companies, Inc. (NYSE:TJX) is a retailer specializing in off-price apparel and home fashions. The company provides a wide range of products, including clothing, footwear, accessories, furniture, home décor, and gourmet items. On May 23, Cramer called it the 'most undervalued' stock in the Charitable Trust's portfolio, as he remarked: 'TJX might be the most undervalued stock in our entire portfolio. Why? Because it had the huge sell-off. We now wait a couple days. It's probably going to rally.' While we acknowledge the potential of TJX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. 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
Yahoo
15-06-2025
- Business
- Yahoo
Jim Cramer on Goldman Sachs: 'There's a Thirst That Can't Be Slaked Without More Deals'
The Goldman Sachs Group, Inc. (NYSE:GS) is one of the 16 stocks Jim Cramer recently discussed. Cramer noted that investors who are interested in investing in IPOs can go for GS stock, as he explained: 'I've tried to be skeptical of these three red hot areas, but as I told you last week, once the thing really takes off, you can't be a scold. I'm not about you not making money, I'm about you making money. And the market's saying, listen, these companies can raise some money, and I think you're going to see scores more coming public. By the way, we own Goldman Sachs for the Charitable Trust; that's another way to play it. The investment banks are eager to give it to them, and they know that there's a thirst that can't be slaked without more deals.' A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. Goldman Sachs (NYSE:GS) is a financial firm that provides wealth management and various financial solutions. While we acknowledge the potential of GS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. 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
