*For an update on Dell EMC VxRack with Neutrino, please visit this blog.Cloud Native adoption is driven by a quest for continuous business innovation leveraging cloud-based services. Hallmarks of continuous innovation include application developers who are fully focused on business objectives rather than IT infrastructure, and IT operations staff who spend the bulk of their time on business priorities rather than keeping the lights on.VxRack System with Neutrino, available stand alone or as part of EMC Native Hybrid Cloud (NHC), is a purpose built system specifically engineered to support the development and operation of cloud native apps running on platforms like OpenStack (available today) and VMware Photon (in the near future). VxRack Neutrino addresses “Do It Yourself” challenges with OpenStack initiatives such as delayed deployments, complexity of operation, and difficulty of achieving stability as highlighted in a recent OpenStack User Survey. With VxRack Neutrino, an OpenStack environment can be provisioned in a matter of minutes, with significantly simplified ongoing operations and upgrades.NHC and VxRack Neutrino empower developers to rapidly build and iterate code in a fully turnkey Pivotal Cloud Foundry developer platform with a full complement of application services, while IT Operations retains full visibility and control of the environment.VxRack Neutrino’s early-adopters include the following examples:An IT service giant in India deployed a NHC engineered solution built on VxRack Neutrino to provide its developers with a way to rapidly provision infrastructure on demand so as to respond to customer requests more quickly, avoiding the complexity associated with do-it-yourself OpenStack efforts.A major North American airline opted for NHC built on VxRack Neutrino to create an advanced DevOps environment that proved faster and vastly superior to alternative vendor implementations.An American retail giant plans to use VxRack Neutrino to move parts of its primary website back on-premises OpenStack based IaaS to reduce their costs for public-cloud and co-location.With NHC and VxRack Neutrino, dedicated cloud native platforms from EMC are enterprise ready, easy to install, and future proofed. As stated by IDC analyst Ashish Nadkarni, “EMC has done all the work to make OpenStack operate very much like any other enterprise-ready infrastructure solution”.
Bradley said Notre Dame’s legal position rests on the belief that the new health care law imposes a burden on the University and results in a moral dilemma. The issue might be simpler if it was just a matter of contraceptives, he said, but some of the approved treatments have been found to act as abortifacients. The Professors for Lunch series hosted a panel discussion of religious liberty and the University’s lawsuit in response to the Obama administration’s healthcare mandate Friday afternoon in North Dining Hall. She said no matter what the result of the lawsuit is, Catholics will continue to decide for themselves whether or not to use contraceptives. “With either type of health care system, religious liberty would no longer be an issue,” he said. Theology professor Ann Astell, theology professor Mary D’Angelo, law professor Gerard Bradley and history professor Mark Noll participated in the panel titled, “Why is Notre Dame suing the Obama administration to protect religious freedom? And should it be doing so?” Astell said she agreed with the University’s decision to file a suit in defense of religious freedom. Bradley said the government must recognize that maintaining the religious freedom of Notre Dame and other Catholic institutions affects more than just those institutions. The University is not legally required to prove that the Catholic position against contraceptives is objectively or definitively true, he said. Astell said this difference between a Catholic and public hospital applies to all Catholic institutions. She said the difference is threatened by the new health care regulations. “The supposed good to be gained from giving free contraceptives as preventative care in this particular way, when other methods are available, has to be weighed against the resulting loss of religious freedom,” Astell said. “The issue is not about the right of individuals to use contraceptives, but rather about Notre Dame’s right to stand on Church teaching.” Noll said Notre Dame and other Catholic institutions would be helped by their history of defending religious liberty in general. “When the University filed its suit, it acted courageously and prophetically on its own behalf and on behalf of other religious institutions,” she said. She said the difference between formal and material cooperation is important in this case. Formal cooperation is remote and indirect, while material cooperation is direct and purposeful, she said. “Litigants with a history of helping other groups maintain religious liberty have a better chance of success in this case,” Noll said. “Religious liberty is a common good,” he said. She said conscience takes precedence over Church teaching and Catholics must accept the Church’s position for it to truly become doctrine. But many individual Catholics have not accepted the prohibition on contraceptives. “Among Notre Dame’s responsibilities as a prominent Catholic institution is to bear itself as a conspicuous model of Catholic morality,” Bradley said. “Catholics must and will continue to follow the dictates of their conscience,” she said. Bradley said there are two problems with the way the government has viewed religious freedom in this case. He said a company, which petitioned for an exemption because it incorporates Catholic values into its business practices, was told that it is a secular business and thus its practices are not considered religious. Notre Dame has a greater responsibility than an individual Catholic in terms of abiding by Church teaching, since many look to it as a model of Catholic values, he said. “The constitutional framework is murky,” he said. “Starting in the 1920s and ’30s the reach of government went beyond anything conceived of at the time of the Constitution’s drafting.” The United States should adopt a universal health care system modeled after either that of Germany or Canada, Noll said, as this would eliminate religious liberty concerns. D’Angelo said it is important to acknowledge that Notre Dame and the other Catholic institutions that have joined the suit are in the minority of all Catholic institutions in the country. “Looking at this case, this body of law, there are two alarming understandings of religious liberty: that Catholic businesses cannot have religious practices and that to be a religious institution, the purpose of an institution must be the inculcation of religious values,” he said. Astell said Martin Luther King Jr. requested that his aids bring him to a Catholic hospital if anything ever happened to him and they did so on the day of his assassination. The United States of America has a long history of protecting religious freedom and that this tradition is now at risk, she said. Institutions will still be remote from the use of contraceptives if they comply with the provision, D’Angelo said. The effect of the provision is simply to move the cost of contraceptives from one part of an employee’s compensation to another – from salary to benefits. Astell said the proper way to approach the issue is to weigh the benefits of the provision requiring employers to provide free contraceptives in their health plans against the cost of compliance. Noll said it is difficult to determine this issue based on the constitution because the constitution’s framers had no way of anticipating our modern society. “Paying for contraceptives can be problematic for those at the bottom of the pay scale,” she said. A more general healthcare system is needed in America instead of employers providing health insurance, Noll said. This would prevent issues of religious liberty from arising. Noll said the fact that we have not moved to such a system is a failure of our government to provide for the health of its citizens. “If one presidential administration can infringe on this aspect of religious freedom, what stops another administration from further infringing on this First Amendment right?” she said. He said the exemption to the contraceptive provision granted to churches does not extend to Catholic schools or hospitals because there purpose is not the inculcation of religious values. “The law provides for all FDA-approved contraceptives and some of these can act as abortifacients,” Bradley said. “The University can’t just accept the purely contraceptive treatments. The contraceptives and abortifacients are a package.” D’Angelo said making the cost of contraceptives part of an employee’s benefits as opposed to the money coming from the employee’s salary makes a difference for some employees.
Los Urabeños, the Revolutionary Armed Forces of Colombia (FARC), La Familia Michoacana and other transnational drug trafficking organizations use distinctive logos to identify their cocaine shipments to El Salvador, Bolivia, and Argentina. The use of logos to identify cocaine shipments has become so widespread that law enforcement agencies are keeping track of the insignias to track the drug trafficking activity of organized crime groups. The Latin American and Caribbean Community of Police Intelligence (CLACIP), comprised of 25 law enforcement agencies in Latin America and the Caribbean, is cataloging the use of logos by drug trafficking organizations. Colombia, El Salvador, Bolivia, and Argentina are among the countries which are using logos to identify which organized crime groups are responsible for specific drug shipments. Latin American police forces have recorded thousands of logos used by transnational criminal organizations and local gangs. The logos include shields for soccer teams to cartoon caricatures which identify drug trafficking routes. Drug trafficking groups which operate in Latin America and in the Caribbean region are using logos to mark their cocaine shipments with increasing frequency, said Erubiel Tirado, program director of the National Security Studies at Iberoamericana University (UIA) in Mexico City. Cartels use logos to differentiate themselves and their “product” from other drug traffickers, Tirado said. The logos are used by drug traffickers to show they produced and intend to distribute specific loads of drugs. “Seals or logos have become a certification mark or fingerprint of drug cartels,” Tirado said. “Before, they were referred to as a signature.” Typically, large cocaine shipments have two identification logos: The cocaine producer places the first directly over the cocaine before it is packed. This seal represents the origin of the drug, and is meant to guarantee its quality and purity. There are labs involved in producing or storing drugs for different cartels, so these locations have different seals, logos, or decals to identify who the cocaine belongs to before shipping it to countries like Colombia, El Salvador, Bolivia, and Argentina. The second logo is the supplier’s brand, according to a blog written by Norberto López Camelo from Argentina, the former commander of an Argentinian provincial police unit which investigates drug trafficking. Large drug shipments usually belong to more than one drug cartel, Semana reported. Drug kingpins sometimes work together to coordinate large shipments to reduce transportation costs. When they cooperate on the same drug shipment, different drug cartels mark their cargo with their logos. Drug kingpins know that authorities are keeping track of the logos they use to identify their shipments, and are trying to adjust, Tirado said. “Drug bosses know that this type of labeling can be a useful tool for authorities to use as evidence in prosecuting them,” Tirado said. “For this reason, the bosses have diversified and expanded their selection of markings on drugs in order to evade justice.” Drug traffickers use logos with greater frequency The drug issue will never end, every day more and more things are discovered. I’d like more information regarding the Bolivian coke of the Yungas and its distribution. What percentage of coke is used for the production of drugs and pharmacy? I’D LIKE FOR PEOPLE TO WORK WITH THE POLICE IN ORDER TO EDUCATE THE YOUTH AND ADVICE THEM OF THE DANGERS OF FALLING VICTIM TO THAT MORTAL VICE. MAY THE LORD ENLIGHTEN AND GIVE THEM THE WISDOM TO STOP THIS EVIL. THANKS. These Urbinas have collected hundreds of small planes, have killed people just to take their properties. They are the ones that supported the campaign of the president of Honduras. Investigate this entire corrupted government that is full of drugs. Even though the world is aware, for a long time now, of the presence of a drug state, they keep protecting it, specially the U.S. It’s good to know that justice is cracking down on these criminal groups. The text is very good. It’s good that governments are following closely this smuggling method used by drug traffickers so that they can crack down on them. WHY DON’T YOU MENTION THE NATIONALITY OF THE CREW ABOARD THE PDVAL SPEEDBOAT? IS IT BECAUSE THEY ARE COLOMBIANS?…………….I DON’T KNOW Very good. CLACIP has compiled a catalog of about 500 logos used by drug trafficking organizations. The European Union (EU) is compiling a catalog of logos used by drug trafficking groups. Those logos include images used by FIFA, Coca-Cola, the Vatican, the shield of a soccer team from Argentina called the Boca Juniors Athletic Club, and others. EU authorities hope the catalog will help law enforcement officials establish links between the drugs seized in different countries to identify drug trafficking routes. “Whenever there is a drug seizure and anti-narcotics (agents) find some kind of logo at the scene, they begin look for it in the international catalog. If they don’t find it, they report it to the CLACIP so that the organization can add it to the catalog and alert other members,” the chief of the Anti-Narcotics Division (DAN) of the El Salvador police, Marco Tulio Lima, told El Mundo. Cataloging the logos used by drug traffickers is a way for law enforcement officials to monitor the activities of organized crime groups and the drug routes they use, Tirado said. By Dialogo June 24, 2014 Colombians started the practice of using logos Catalogs of drug trafficking logos The first drug trafficking organizations to use logos to mark cocaine were Colombian, and later Mexican. In the 1980s, the Cali and Medellin cartels marked shipments with seals or symbols to prevent theft of their shipments. The logo used on the drugs depends on the ingenuity of the producer or criminal organization. Transnational criminal organizations have used caricatures, combinations of letters and signs, soccer shields, cartoon images, Roman numerals, car brands and media logos. In April 2014, agents of the Colombian National Police seized seven tons of cocaine in Cartagena, a port city 1,200 kilometers north of Bogota. Police agents seized the cocaine at the port. The drugs were hidden inside a container that was about to be shipped to the Netherlands. Drug traffickers marked the cocaine packages inside the container with the number 800, the multinational car logo KIA, and the brand Yamaha. Authorities believe the cocaine packages marked with the number 800 belonged to Los Urabeños, and the other packages belonged to a Mexican drug trafficking group. Authorities declined to provide further details because the investigation is ongoing. In February 2014, troops from Ecuador’s Anti-Narcotics Directorate seized 949 kilograms of cocaine from a fishing boat during “Operation Sunrise.” The drugs were hidden inside a fishing boat 10 miles from Puna Island in the province of Guayas. The packages of cocaine were labeled with logos from car brands, such as BMW, Toyota, and Volvo. Authorities suspect the cocaine belonged to La Familia Michoacana (LFM), a transnational criminal organization based in Mexico. The cartel transports cocaine shipments through Ecuador to Mexico. In June 2009, Colombian security agents seized 342 kilograms of cocaine in the municipality of Tumaco. Authorities reported that the drug belonged to a faction of the FARC. The packages had a logo of a panda bear and the letters KTM. In October 2011, agents with the Colombian National Police seized 400 kilograms of cocaine in Cali and Córdoba. Those drug packages were marked with the log of TV network CNN. Authorities suspect this drug shipment belonged to the Calle Serna Brothers, who are also known as Los Comba. They are the leaders of Los Rastrojos, a Colombia-based drug trafficking group which supplies cocaine to Mexican drug cartels. Security forces in El Salvador have identified approximately 21 drug shipments with logos drawn on each of the packages. The logos included cartoon images such as Tweety Bird, Hello Kitty, Popeye, and caricatures of Batman and from the Mexican TV sitcom ‘El Chavo del Ocho’.
This column is adapted from the foreword to CUES Guide to Effective Mentorship, a benefit of all levels of CUES membership.Mentorship is an important tool in the leadership development toolbox, but it’s a tool that many organizations do not stress or facilitate. In a recent survey conducted by the Association of Talent Development, only 29 percent of responding companies indicated that they have a formal mentorship program. An additional 37 percent supported mentoring on an informal basis. Those figures indicate that while a majority of organizations recognize the importance of mentoring, there is still a need for education and guidance on how to define, form, nurture and facilitate the mentor relationship. I have had the opportunity to experience mentoring on both sides of the relationship—as a mentor and as a mentee. As president/CEO of CUES, I currently serve in the role of mentor for several young professionals both inside and outside of the credit union industry. But I was only equipped to fill that role after many years on the other side of a mentorship pairing. Twenty-five years ago, I emerged from the University of Chicago Booth School of Business, MBA in hand, and was fortunate to find many wise, knowledgeable and talented individuals to serve as mentors to me. Over the years, they have ranged from CEOs to colleagues to ministers to political figures—even a U.S. senator. My longest-standing mentor is a gentleman who offered me a job when I was fresh out of business school, and even though I took an opportunity elsewhere, he still provided me with guidance and support throughout my career. It’s a 25-year relationship that continues to this day. Having benefitted from the tutelage of these individuals, I believe the most appropriate way for me to reciprocate is to serve as a mentor to others. It’s the best “pay it forward” strategy I know. People talk of “finding a mentor” as if it’s a singular role—one mentor to serve an individual’s every professional and personal development need. Personally, I have never felt that you need to limit yourself to just one mentor. I’ve always taken the football team approach in that you need multiple mentors who serve different roles—just like each player on a football team has a special job to do. The role that various mentors could play in your life should be based on the experiences they can share, the expertise they can provide, the doors they can open—all the things they can do to enhance your development and make you a more well-rounded and successful individual. Don’t assume that a mentor needs to be a superior to you or someone who is at a higher professional level than you. You can learn from your colleagues; you can learn from those who report to you; and you can learn from those who are on the team with you.That’s not to say that mentorship should be treated informally. Time is short, resources are finite and you need to get more return than ever before for the time invested in a mentorship. To boost the ROI on mentorship, CUES members can leverage the strategies in CUES Guide to Effective Mentorship. If you’re not a member, consider joining now to get this and other valuable benefits all through the new year. 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Pembroke Since joining CUES in March 2013, John Pembroke has played a leadership role in developing and launching a new direction in CUES’ strategy, branding and culture. Under his guidance, CUES … Web: www.cues.org Details
1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Tansley Stearns Tansley is a dynamic force of nature, fiercely crusading on behalf of all credit unions while tirelessly driving forward the brand image and family spirit of Canvas. She joined us … Web: https://www.canvas.org Details Music has been a big part of my life since I was little. When I was three, I begged my mom to allow me to start playing the violin. She played the violin in the local orchestra and I longed to emulate her playing with vibrato and passion. Thus, when I had my daughter MacKenzie and she turned four, we tried violin lessons. As is so often the case when we try to nudge our children towards our own dreams, she didn’t fall in love. At the third lesson, when she nearly threw the rented violin at the wall, I decided we needed to try something else. Since we all love to sing in my family and she couldn’t break her voice during a tantrum, we decided to try voice lessons. I found a local voice instructor who received rave reviews. When we arrived at the first lesson, MacKenzie’s four-year-old kinesthetic vigor exploded into Ms. Amber’s living room. I cringed and started to think about what alternatives I might start exploring once we survived this. Immediately, Ms. Amber transformed MacKenzie’s music lesson experience. Ms. Amber gleefully said, “MacKenzie, have you heard a high note before?” Amber belted out the most lyrical and lovely high note and said, “We are going to sing a high note together. When we do, I want you to stand on your tippy toes and stretch as high as you can. Then we are going to sing a low note.” Again, she sang, and the loveliest low note tickled our ears and she said, “When we do, I want you to bend down and crouch low to the floor.” I was mesmerized while I watched them sing both high and low. MacKenzie was moving, using her energy, and she was focused on learning to sing. Ms. Amber had immediately observed how our kiddo learned best and adapted her teaching approach to meet MacKenzie where she was. I left almost in tears having been reminded of the power of learning and great teachers. MacKenzie grew to love singing and continued learning and growing with Ms. Amber. She started to tune her voice, she memorized songs, she performed in front of her peers and their families, and most importantly she fell in love with music and singing. Then life changed. When I joined the Canvas family, we moved to Colorado. After several unsuccessful attempts at recruiting a local teacher that matched our experience in Madison, I reached out to Ms. Amber in desperation. It turned out that Ms. Amber had been teaching remote lessons. We signed up and it was remarkable. Even across many miles, with MacKenzie in Castle Rock, CO and Ms. Amber in Madison, WI, they did not miss a beat. As they reconnected through the magic of technology, MacKenzie’s singing skills continued to grow during weekly lessons. Ms. Amber even used Zoom to facilitate remote recitals. One recital even featured a student from Madison, a student from Mexico, and MacKenzie in Colorado.As the potential impact of the Coronavirus pandemic started to intensify for Coloradoans, there were hosts of decisions to be made. As a leadership team, we at Canvas worked on immediate daily actions to ensure ongoing, essential support for our members. At the same time, we mobilized strategies to protect our Canvas family members’ (our employees’) health by providing resources for those with dependents and by growing remote work options. In the midst of marshalling resources and activating plans, we saw an opportunity. The same opportunity that Ms. Amber provided MacKenzie, to help provide learning to our family members.The need to enhance social distancing and protect our Canvas family members as well as our members necessitated temporarily closing our Canvas lobbies, while leaving open our drive-thru services. When this occurred, nearly 200 people were temporarily displaced from their current member-facing roles. While we redeployed some of these family members to support other parts of our organization, we wanted to explore options to activate engagement with the remaining family members through this challenging time. Learning quickly became the answer. As with most credit unions, learning is crucial. At Canvas, we are a learning organization. We strive to invest in our family members regularly. We believe that learning amplifies all of our lives. We have seen learning create opportunity, open possibilities, and build connections. However, one of the ongoing strategic challenges with learning we’ve faced is with our branch family members. The real-time necessity to always put our members needs first has often prevented us from reaching the levels of engagement with learning that would be ideal with this portion of our population. That all changed as the Coronavirus challenge emerged. Presented with a moment to focus attention fully on a large portion of our branch family members, our Learning Team jumped into action. They began developing leader guides, curating curriculum, growing ideas for gamification and ongoing engagement, and then ensuring that all of it could be done remotely. Seeing the potential to come out at the end of this pandemic with Canvas family members who will be even more knowledgeable and skilled was joyful. During a dark time, as a leadership team, we felt that same awe of the power of learning that I felt years ago when I was watching Ms. Amber with MacKenzie.Even more powerful than the original idea was seeing the concept grow. Our community involvement team jumped in and was excited to share their financial literacy content and teach our family members. We started developing a new addition to our leadership development curriculum featuring our leaders and showcasing their career paths. We are currently dreaming up an interview series so that our family members can hear from some of our Canvas heroes who have seen the credit union survive and thrive through adversity across the years. By the time we find ourselves returning to normalcy, not only will our family members have even more skills and knowledge, but we’ll have grown our Learning competency even further. The curriculum will be wider and deeper. Our ability to deliver learning in new and more powerful ways will be extended. Our understanding of what it takes to marry subject matter experts with learning professionals to develop exceptional adult learning will be exponential. Our Canvas family will be experiencing learning the way MacKenzie did, and it will be life changing.None of us ever wish to experience tragic and challenging circumstances. However, now is a time to decide what we want to be known for when we come out the other side. At Canvas, we are the first responders of financial services. We are essential and we are here for our members. We are known for our people. When this is over, we will also be known as an organization that invested in our people during this time of adversity — creating even more impact for human beings across the Front Range. That will be music to the ears of the people that need credit unions most.
Arsenal striker Alexandre Lacazette will be sidelined for ‘several weeks’ with an ankle problem (Picture: Getty)Arsenal have confirmed that Alexandre Lacazette will be out for ‘several weeks’ due to an ‘ongoing ankle injury’.Lacazette first felt the ankle problem during Arsenal’s pre-season friendly with Lyon and subsequently missed the side’s Premier League opener against Newcastle.The Frenchman returned to Unai Emery’s starting XI for a 2-1 win over Burnley before making a substitute appearance in Arsenal’s 3-1 defeat at Liverpool the following weekend.After starting and scoring in Arsenal’s 2-2 draw with Tottenham, it was assumed Lacazette had fully recovered from his ankle injury but the striker is set to be sidelined for the remainder of September.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘After assessments to an ongoing ankle issue, we have advised that Alex will need to rest and strengthen his ankle to regain full fitness,’ an Arsenal statement said on Friday ahead of the side’s trip to Watford.‘Alex has been playing through this injury for several weeks.‘He is likely to be back in action in October.’ Tierney and Bellerin are closing in on their returns for Arsenal (Picture: Getty)Emery confirmed that Kieran Tierney and Hector Bellerin will miss Arsenal’s trip to Vicarage Road despite both full-backs returning to training this week.Asked whether they could return, Emery replied: ‘Not yet. It depends on their progress for the next weeks.‘Maybe we can decide to play at the beginning with the U23s, to be ready with us.‘Maybe if they play with the U23s they can take confidence and then after play with us 100 per cent.’More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesLucas Torreira and Granit Xhaka both had injury scares during the international break, but Emery revealed on Friday that the midfield duo are ‘ready’ to face Watford.On Rob Holding’s fitness, Emery added: ‘He has earned matches with U23s.‘With more minutes with U23 he can be closer to give us his performance.‘At the moment we are working with three centre-backs, thinking on Sunday, now four. Rob is now the five, [Konstantinos] Mavropanos the sixth.’What will the result be at Vicarage Road?Arsenal win0%Draw0%Watford win0%Share your resultsShare your resultsTweet your resultsMORE: Ashley Barnes recovers from injury for Burnley’s Premier League trip to Brighton Metro Sport ReporterFriday 13 Sep 2019 3:33 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.3kShares Advertisement Arsenal dealt blow as Alexandre Lacazette is ruled out for ‘several weeks’ with ankle injury Matches Lacazette will likely miss Watford vs Arsenal – Premier League (Sept 15)Franfurt vs Arsenal – Europa League (Sept 19)Arsenal vs Aston Villa – Premier League (Sept 22)Arsenal vs Nottingham Forest – EFL Cup (Sept 24)Manchester United vs Arsenal – Premier League (Sept 30) Advertisement Comment
The TRW Pension Scheme has transferred £2.5bn (€3.1bn) in liabilities to Legal General (L&G) in an uncommon partial-buyout arrangement that breaks the UK record for a single transaction.The scheme, sponsored by service provider to the automotive industry TRW Automotive, transferred around 78% of its liabilities in the all-pensioner buyout.The £3.5bn scheme has around 46,000 members, transferring the plans of 22,000 pensioners to the insurer and retaining £1bn of liabilities, mainly deferred members.Neil Marchuk, chair of the trustee board, said the deal was a material de-risking process providing security to the insured members. Joseph Cantle, CFO at TRW Automotive, said the partial buyout significantly improved the company’s balance sheet, transferring the liabilities to L&G.A partial buyout is where pension schemes transfer liabilities in their entirety to an insurer but do not wind down. A buy-in is the exchange of liabilities for an insurance contract against future payments held as an asset by the scheme.The scheme and its advisers had been working towards the deal for some time, running other risk-reduction exercises such as pension increase exchanges (PIEs) and enhanced transfer values (ETVs).Insurance quotes remained in the scheme’s favour given the deal’s record size and the intensely competitive bulk annuity market – particularly since the Budget reforms in March.James Mullins, partner at consultancy Hymans Robertson and adviser to the scheme, said its complex investment hedging had been beneficial in securing the timing and pricing of the deal.The PIE exercise, accepted by just under 40% of members, had made quoting simpler for L&G, as the scheme indexed using the consumer prices index (CPI), a notoriously difficult index to hedge.A PIE exercise sees the member accept an inflated initial pension payment in exchange for the waiving of annual index increases.“This deal could be the catalyst for partial-buyout,” Mullins said. “This scheme was not exceptionally funded, so a buyout looked a long-way off. But the series of steps undertaken meant they have been able to partially buy out two-thirds of the scheme.”The deal represents L&G’s second record-breaking deal of the year, after it insured £3bn of liabilities in a buy-in with the ICI Pension Fund.Managing director of L&G Retirement Kerrigan Procter said: “We have worked with the scheme over many years as they moved from index funds to liability-driven investment, and now to buyout with L&G.”The insurer has now dominated 2014, writing more than £8.3bn in bulk annuities, more than the entire 2013 market.The 2014 market is now expected to break the £11bn mark, with consultancies reporting hundreds of millions worth of transactions before year-end.Mercer’s David Ellis, lead adviser to the pension scheme on selecting L&G, said while it would be pleased with its 2014 performance, other insurers would not be feeling the pinch.“The year before, Pension Insurance Corporation (PIC) did very well, and Rothesay Life bought MetLife, which was a multi-billion deal as far as it is concerned,” he said.Mullins added: “Next year will be great as well, with L&G and Prudential and others even more keen to transact to make up for falling individual annuities sales – which is great for competitive pricing.”Bulk annuity pricing power is expected to “see-saw” between insurers and pension schemes as a variety of market and competition factors take hold, according to consultancy LCP.
Heavy sea transport specialists United Heavy Lift (UHL) and Ocean7 Projects are opening a joint office in Bergen, Norway, from where they intend to offer a wider scope of service.As disclosed, the coordinated activities will allow Germany’s UHL and Denmark’s Ocean7 to cover all segments of their industry, offering customers a larger and more diverse fleet.It was also noted that the Bergen office was just the first of a number of joint branches planned to be set up.As noted by Lars Rolner, CEO of United Shipping Group, the two sides are working on opening new offices in Asia and the USA.“We see this new office as a start of building a world-wide network of offices together with Ocean7,” Rolner said.“We have always had the mindset of working together and this cooperation will enhance our ability of offering a wider scope to our customers in the future,” Stefan Petersen, CEO of Ocean7, added.Ocean7 Projects operates a fleet of over 25 heavy lift carriers, including RoRo vessels. United Heavy Lift was established in 2015 and is part of the United Group which also includes United Wind Logistics and United Engineering Solutions. Both UHL and Ocean7 specialize in the transport of heavy, project and breakbulk cargo.
The chief censor hunts for the big five: Sex, horror, crime, cruelty and violenceStuff co.nz 14 August 2016Family First Comment: “Society is becoming more permissive, but parents are becoming more concerned, and rightly so.” – Family FirstChief Censor Andrew Jack says protecting freedom of expression is often the starting point for debates potentially affecting issues like these. When his office had its origins a century ago, the same year a law emerged to regulate the new-fangled “cinematograph”, more topics were contentious.Today, fewer things are candidates for censorship, but a complex media landscape and interplay between lobby groups, prosecuting agencies, and Dr Jack’s independent agency keeps his office busy, sometimes making it the centre of controversy itself.Jack’s Office of Film & Literature Classification has an obligation to protect the public good – the same term used in law a century ago. Irreconcilable arguments on what damages the public good, and on who should be allowed to view or read exploitative or sadistic content, fall on this office.A century ago, with the new Cinematograph-film Censorship Act, officials grappled with the surging popularity of motion pictures, and the controversial storylines some presented. Among the first flicks deemed “objectionable” was 1921’s Certain Rich Man, dealing with drunkenness, young love and business ethics. Eternal Three, featuring an old doctor who took a trophy wife who herself then had an affair, also earned opprobrium in the censorship law’s first decade.After tweaks to the law in recent decades, the independent Crown entity covers films, books and computer games. One thing hasn’t changed. Most people still agree definitions of the “public good” will always be subjective.From his Wellington office, Jack says social attitudes to controversial issues have moved since he took over in March 2011, but the pace is slow.What’s important is ensuring the censorship office keeps in touch with the community, maintains relevance, an ability to reflect social values, not impose them from above. Key to that is frequently escaping the “Wellington ivory tower” and ensuring staff have a life outside work, so Dr Jack says he spends much time talking to community groups.The office’s workload gives you another indication why having a life outside work is encouraged.Jack says “sex, horror, crime, cruelty and violence” are themes his team of around 25 must tussle with most often. And he reckons 40 per cent of his staff’s work relates to studying content police, customs or Internal Affairs supply during investigations or prosecutions. Of that, perhaps two-thirds is child abuse imagery, trafficked online.It can be distressing, disturbing work, and having to review it is the worst part of the job. But one reward is knowing the office can help prosecute predators and traffickers of exploitative content.And while some groups feel society is in a perpetual freefall of increasing permissiveness, Jack says Kiwis are less tolerant of some things than they were five years ago.Surprisingly, he feels society is increasingly intolerant of offensive language. And teenagers are probably more conservative than might be imagined. Depictions of self-harm, sexual violence and animal cruelty are especially out of favour with teens right now, he says.“Young people are often more discerning than they’re given credit for.”The biggest recent controversy erupted when Into the River was slapped with an R-14 rating last September. Conservative lobby group Family First slugged it out with author Ted Dawe. Foreign media, even Hollywood, weighed in too.President of the Film and Literature Board of Review Don Mathieson, QC, a conservative Christian, issued the interim order, overturning deputy chief censor Nic McCully’s decision to not restrict the book. The issue see-sawed until that R-14 restriction was lifted six weeks later. Mathieson stood down soon after.Bob McCoskrie, Family First’s national director, defends the stance he took, and feels the media garbled the issue by presenting the R14 classification as a ban. “We felt that the book was inappropriate for young children the way it dealt with the sexual content and the language.“You can’t be silent and just see things get worse..We’ll always put a line in the sand.”He uses a story of families in the video store – a declining, dying business model – to provide an analogy around crumbling, decaying morals and the utility of age-based restrictions.“If Little Johnny brings you an R18, we immediately say ‘That’s R18, we’re not even even going to read what that movie’s about’.”He said the R14 rating for Into the River had a similar goal in mind.“At the end of the day, it comes down to parental advice, but based on correct information.”He’s sceptical of claims any publicity is good publicity, and thinks the Into the River decision flowed against a current of consciousness many parents share. “Society is becoming more permissive, but parents are becoming more concerned, and rightly so.”He paints a vivid picture of parents in the living room always on edge, quick on the draw with the remote control, ready to mute or change channels when adult-themed ads or promos for salacious TV shows emerge during “family viewing time.”READ MORE: http://www.stuff.co.nz/entertainment/books/82968384/the-chief-censor-hunts-for-the-big-five-sex-horror-crime-cruelty-and-violenceKeep up with family issues in NZ. 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There are reports Victor Osimhen has put his doubts aside and accepted the move to Napoli, but Nigerian sources continue to insist the Lille forward is undecided. The striker visited Naples and the home of President Aurelio De Laurentiis in Capri earlier this week, as the club put on a charm offensive to convince him to accept. According to Sportitalia, the tactic worked and Osimhen has put the concerns behind him to accept a transfer to the Stadio San Paolo. However, Oma Akatugba of OmaSports.com continues to assure Osimhen has not agreed to the move, despite the pressure from both clubs and his own entourage.Advertisement The other issue in play is agreeing a deal with Lille, who are asking for €50m, although le10sport.com claim the request is closer to €80m. read also:‘Victor Osimhen is still a Lille player’ It has been suggested in Italy that they could include full-back Adam Ounas as part of the package. The Algeria international spent last season on loan in Ligue 1 with Nice. FacebookTwitterWhatsAppEmail分享 Loading…