The home at 48 Sydney Ave Camp HillOwners Sue and Steve Lewis bought 48 Sydney Ave, Camp Hill, in 2014 after moving from Western Australia.“As soon as I walked in, I fell in love with the open, airy, light feeling,” she said. “The home is a breath of fresh air.” The matching cubby house at 48 Sydney Ave Camp HillMs Lewis said they kept the cubby for their grandchildren to play in when they came to visit.“We even painted it inside and out to match the home,” she said. The kitchen at 48 Sydney Ave Camp HillMs Lewis said her favourite part of the home was the kitchen.“I cook a lot,” she said. “It’s the heart of the home.”The gourmet kitchen has a large, 3m-long island bench, a butler’s pantry, a dual-temperature wine fridge and a designer oven and cooktop.More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours agoThe kitchen at 48 Sydney Ave Camp HillOn the same level, there is also a media room, a study, a bathroom and a laundry, plus a large open-plan living and dining area, which opens out to the deck, the backyard and the cubby house. The home at 48 Sydney Ave Camp HillMs Lewis said Camp Hill was an ideal inner-city suburb to live in.“We have wonderful neighbours and amenities nearby,” she said. Inside 48 Sydney Ave Camp HillThere are also two additional bathrooms and a family room. Ms Lewis said the home would suit many buyers. REAL ESTATE: 48 Sydney Ave Camp HillThe upper level of the home has four bedrooms, including the master suite, which has a large walk-in robe, an ensuite with double sinks and a private balcony. Inside 48 Sydney Ave Camp Hill“I think it’d certainly suit a young family because of the pool, cubby house and open-plan layout, but also mature couples like ourselves,” she said.“There are plenty of break-out areas and separate rooms to enjoy if you need some peace and quiet too.” 48 Sydney Ave, Camp HillSet on a 405sq m parcel in the inner city, this stunning two-level residence is the perfect mix of luxury and low-maintenance living.
State-backed financial aid may offer relief for German occupational pension schemes of airlines in financial distress due to the COVID-19 pandemic.“The state aid in the form of a stake in Lufthansa is a positive signal for occupational pensions because it also covers pensions’ solvency,” Michael Ries, managing partner at Ries Corporate Solutions, told IPE.The German government has decided to grant Lufthansa a €9bn aid package through its Economic Stabilisation Fund (WSF) in exchange for a 20% stake in the company, which could raise to 25% to block potential takeover attempts, and two seats on the supervisory board, among other requests.However, the Lufthansa supervisory board has not yet approved the package for fears of conditions connected to the EU Commission that could lead to compromising Lufthansa’s hubs in Frankfurt and Munich. Amid market turmoil caused by the coronavirus crisis, Lufthansa is also under extreme pressure from the cabin crew’s occupational pension fund and, in particular, from the pilots scheme, Ries said, adding that future benefits could be cut, too.“Lufthansa has in general a big problem with old-age provisions. All airlines have difficulties at the moment but it is difficult to settle or curtail pension schemes in Germany as it is possible for example in the US,” he said.Other airlines in the DACH region are also navigating through difficult times.The Swiss parliament has given the green light on CHF1.275bn (€1.2bn) in loans for airliners Swiss and Edelweiss, part of the Lufthansa group.The Austrian Airlines group AUA, another subsidiary of Lufthansa, had applied to receive state aid worth €767m.Laudamotion, a subsidiary of Ryanair, announced its intention to close its base in Vienna following a dispute with the trade union Vida on wages cuts.“The salary of an employee generally represents the basis to assess contributions or the pension amount in both a defined contribution and a defined benefit pension fund model, with the exception of an agreed fixed contribution without reference to a salary,” Michaela Plank, principal and member of the country leadership team at Mercer Austria, told IPE.A cut to salaries results in a lower contribution in the DC model, or in a promised pension in the DB model.For a corporation, a pension fund commitment is irrevocable, but there is the possibility of reducing or suspending contributions according to section 6 of the Austrian Company Pension Act if a company is in economic distress.“In the worst case, if a continued payment of contributions to the pension fund threatens the continuity of the company, the pension fund solution can also be revoked entirely,” she added.For Plank, the insolvency of the company itself does not pose a risk to the monthly pension benefits in a DC model because the financing is outsourced to the pension fund.“The situation is different in a DB model, where additional contributions required to maintain the promised pension amount could no longer be provided,” she said.Looking for IPE’s latest magazine? Read the digital edition here.
A student was robbed at gunpoint in the early hours of Friday morning on the 1200 block of West Adams Boulevard, approximately a mile off-campus near the north end of Ellendale Place and Ralph’s grocery store.The victim arrived home alone just after 2 a.m. when a man and a woman approached her as she was walking up to the front gate of her house. A USC Uber had dropped the student off just a few houses down on Magnolia and Adams Boulevard.The pair, who were crouching behind a car near the house as the student arrived, drew a gun and demanded any cash on her person.“It looked like they were just waiting for someone to come down the street,” the victim said, who asked to remain anonymous because the robbery was at her personal residence.When she told them she didn’t have any cash, they then made her walk with them to three different ATM machines at gas stations along Vermont Avenue. They went up to Washington Boulevard and Vermont, just under a mile from the initial robbery point. The couple eventually escaped with $400 in cash from the student’s account.The Los Angeles Police Department and the Department of Public Safety are currently investigating the incident, and no one has been detained in relation to the crime, according to DPS. They are in the process of reviewing nearby security footage.The victim described the pair as being in a relationship and wearing all black. Both were in their early 20’s. The 1st suspect was described as a 5’10,” thin black male with braces. The 2nd suspect was 5’3”, black female of average weight with her hair in a bun.DPS said the robbery is not believed to be related to a string of robberies that occurred last weekend on both the 3000th block of Figueroa Street and 28th Street. In those incidents, a group of four men physically assaulted and robbed two students, attempted to rob a third and physical assaulted a fourth.Editor’s Note: A previous version of this article contained the victim’s name. After publication, she decided she no longer wanted her name in the piece because of privacy reasons.