Danielle Brock speaks to her child, Lamar, at a motel in Denver, where she has been living since she was laid off from her job. l
Danielle Brock speaks to her child, Lamar, at a motel in Denver, where she has been living since she was laid off from her job. l

US braces for a tough Thanksgiving



DENVER // Pastor Dwayne Johnson spends his days knocking on doors of seedy hotels, trying to find families who have lost their homes in the US economic crisis. He finds them living amid cockroaches, mouldy carpets and whatever personal belongings they could carry with them. This week, he was inviting residents at Denver's King Motel, a dilapidated lodge for the down and out, to accompany him for a traditional turkey dinner today. "You want me to pick you up for Thanksgiving?" he asked Sherry Clark, a disabled woman. "You better believe it," she answered with a toothless smile. Thanksgiving is normally a day when US residents get together with family members to show appreciation for everything they have. But this year, with the economy in a tailspin and unemployment rising, there have been disturbing signs of how little many US families are surviving on. Last weekend, the Miller family in Weld County, Colorado, opened their 243-hectare farm to the public, having decided to give away extra produce they had grown before the first winter freeze. An astonishing 40,000 people turned up to harvest food, leaving cars snaking around cornfields and parallel parked on rural Route 66. The family planned to open the farm for the entire weekend but closed the event after one day. "The pickings are pretty slim now," Chris Miller said. A Denver food bank, which was expecting about 1,500 families for free Thanksgiving dinner handouts - including frozen turkeys, a bag of potatoes and vegetables - was stunned when 9,000 families showed up at its doors. City officials and aid workers estimate that 30 per cent of Denver's 10,000 homeless are first-timers. "Last year to this year, we have given out 50,000 more free meals," said Brad Meuli, president of the Denver Rescue Mission. Most blame a combination of economic factors - the housing crisis, rising unemployment and soaring food prices - that together make it hard for low-income families to make ends meet. "I have been doing this for six years," said Mr Johnson, who works with Mean Streets, a volunteer society that helps the homeless and the working poor. "It's worse now than it's ever been." The problem is not unique to Colorado. In Montebello, California, last weekend, nearly 5,000 turned out for a food giveaway, a number that overwhelmed organisers who had tried to keep it a low-key event, by only announcing it at a handful of churches and schools. Still, a diverse mix of people stood in a queue for six hours and appeared to include middle-class families from surrounding townships. No one left empty-handed, organisers said. Meanwhile, in Van Nuys, California, about 2,000 homeowners showed up for a bank workshop promoted as Home Preservation Day. The bank had mailed notices to homeowners in trouble with their mortgages and on Saturday offered them a chance to rework the terms of their loans. Bankers had hoped 100 would turn out and planned for 200. Loan counsellors had time to meet with a fraction of homeowners and some were reported to have been turned away. There are other signs of distress as well. New York and Chicago have reported increases in bank robberies. Psychiatrists nationwide say they are writing more prescriptions for antidepressants. And the city of San Francisco is preparing to install a mesh safety net under the Golden Gate Bridge. The number of people jumping to their deaths has begun to rise. On Tuesday, Mr Johnson knocked on Room 125, which for the past week and a half has been home to Danielle Brock, a single mother, and her four children. Ms Brock lost her rented home when she was laid off from a security firm. She admits she has made some bad decisions in life, but she is not sure how she ended up here. Ms Brock now collects cash vouchers to pay for her room at the King Motel. And she is not even sure she can continue making the weekly payment of $170 (Dh624) to stay there. Like many who got caught short in the economic downturn, Ms Brock said she feels she could get her life back on track with a little start-up money to make a down payment on a rental place and a steady job. But she has trouble finding work because she cannot give potential employers a phone number where they can reach her. It is expensive to do laundry and hard to get around town. "It's just a matter of getting over that hump." This Thanksgiving, Ms Brock and her children will have a turkey dinner with a family friend. "I am trying to keep my spirits up," she said as her three youngest came home from day care, proudly showing off winter coats they were given by a local aid group. "But it's hard. I don't know where my kids are going to sleep from night to night." gpeters@thenational.ae Hard Times is an occasional series exploring ways people around the world cope with the financial crisis

Strait of Hormuz

Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.

The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.

Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.

Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
Kill%20
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Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

UEFA CHAMPIONS LEAGUE FIXTURES

All kick-off times 10.45pm UAE ( 4 GMT) unless stated

Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid

Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona

Dunbar
Edward St Aubyn
Hogarth

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

COMPANY%20PROFILE
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COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

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World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

RESULT

Chelsea 2

Willian 13'

Ross Barkley 64'

Liverpool 0

Results
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Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

LOVE%20AGAIN
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