New Delhi, Sep 22 (PTI) The Indian Olympic Association has constituted a three member ad hoc committee to hold elections of Karate Federation of India after ruling that the tenure of the national sports federation has expired and poll process has been delayed. The move meant that the elections of the KFI proposed to be held on September 23 will not be accepted by the IOA, if at all it happens. The ad hoc committee will be chaired by Bhubaneshwar Kailta, who has earlier held important positions in the IOA. The other two members are IOA joint secretary Rakesh Gupta and Indian Weightlifting Federation Secretary Sahdev Yadav. “The tenure of office bearers of Karate Federation of India has already expired, so the validity of its office bearers and council members have become null and void. There has been delay in commencing the process of election and now serious doubts have been raised and allegations have been made, inter alia, on the issue of appointment of returning officer,” the IOA said. “In order to ensure the elections are conducted in a democratic manner as per the applicable guidelines, the IOA president has no other option but to constitute an ad hoc committee to ensure that free and fair elections are held within 120 days,” IOA Secretary General Rajeev Mehta wrote in the letter written to KFI president K R Thiagarajan. The IOA said that “complaints, including a complaint from the KFI president himself, raising objections on the validity of the process of elections to be held on September 23, 2018”.advertisement “There are also complaints of alleged violation of model election guidelines of National Sports Code.” The IOA said ad hoc committee will invite observer from the World Karate Federation for the elections. It asked the KFA to co-operate with the ad hoc committee in the election process. PTI PDS PDS ATKATK
The Sydney Mets have beaten Sun Coast in a thrilling game in the Men’s 20’s final at the 2009 X-Blades National Touch League in Port Macquarie.The game was intense up until the final siren, with both teams desperately trying to take hold of the game, with the Mets eventually winning 8-7.Tim Good opened the scoring in the 5th minute, putting the Mets in front 1-0.The Mets nearly made it 2-0 two minutes later, but their touchdown attempt was disallowed. This came back to haunt them as Sean Baldwin from Sunshine Coast scored to level the game.Sun Coast was in again just two minutes later, when Kelvin Jones scored from a great ball from Jason Schmidt, to put them into the lead for the first time in the game.Tim Good scored his second try in the 11th minute, but soon after got sent from the field as a forced interchange, and Baldwin scored his double in the corresponding set of six, giving Sun Coast the lead again. Macquire Tatola and captain Matthew Yiangou both scored for the Mets in the last five minutes of the first half, sending the Sydney team to the half time break with a 4-3 lead, despite several disallowed touchdowns against the Mets in the first half.Dave Shaw extended the Mets lead soon after the break, giving them a two touchdown advantage.Back to back tries to Sun Coast put the teams on level terms, with tries to Luke Mendham and Zach Stasser, but it wasn’t long before Shaw scored his second touchdown of the game, capitalising on some slow defence on the line. The Mets’ Luke Eisenhuth broke through the line of defence in the 7th minute, fooling Sun Coast defenders on his way, giving the Mets some breathing space.This didn’t last long, however, with Nathan Sullivan the recipient of a great cut out pass to close the gap for Sun Coast six minutes out from full time. The Mets had many opportunities to run away with the game in the second half, but numerous penalties for forward passes and over the mark calls gave Sun Coast plenty of good field position.Another penalty in good field position gave Sun Coast a great opportunity to level the scores, and that’s what they did when captain Tyson Brough led by example, scoring in the 18th minute to level the scores.The scores weren’t level for long, as Ben Antonio dived through the Sun Coast defensive line in the next set of six, to put the Mets back in front with one minute to go.Sun Coast were disallowed a try due to a forward pass in the dying seconds, handing the Mets an 8-7 win.
OFF! Sevilla confident re-signing Arsenal target Banegaby Ansser Sadiq10 months agoSend to a friendShare the loveArsenal could be about to miss out on a key transfer target.Reports in Spain and England had suggested the club wanted to sign Ever Banega to appease manager Unai Emery.The creative midfielder is seen as a key addition, especially with Aaron Ramsey on the way out of the club. Banega has played for Emery in the past.But Estadio Deportivo suggests that Sevilla are close to getting Banega to commit to a new contract.It would raise his release clause and commit the 30-year-old to the Spanish side for the next few years. TagsTransfersAbout the authorAnsser SadiqShare the loveHave your say
Chelsea boss Lampard pleased with England U21 call for Hudson-Odoiby Paul Vegas20 days agoSend to a friendShare the loveChelsea boss Frank Lampard is happy with the England U21 call for Callum Hudson-Odoi.The winger made his England debut last season before injury struck. “That is a good shout,” says Lampard. “I spoke to Gareth (Southgate) and all I can do is say what I see from a Chelsea end and it is Gareth’s choice. Callum has probably not played enough games and the international games will do him good. “It is England Under-21s and he should be proud of that anyway.” About the authorPaul VegasShare the loveHave your say
Sunday night, the 2015 NCAA Tournament field was revealed, and unsurprisingly, Kentucky was named the overall No. 1 seed. The Wildcats are also the odds-on favorite to win this year’s national title, per Bovada. In fact, Kentucky is almost at even money to take home the trophy – they’re currently listed at 6:5 to win it all.Arizona, the 2-seed in the West Region, actually has the second-highest odds. Wisconsin checks in third, with Duke fourth. Villanova and Virginia come in at 10:1.Here’s a list of all 68 tournament teams, along with their odds to win the championship. You could make a lot of money betting on a 16-seed to win it all, but we wouldn’t advise it. No 16-seed has ever even won an NCAA Tournament game, much less a title.Who are you betting on?
TORONTO – A proposed Canadian class action that alleged secret cost-saving design changes made to a highway safety guardrail had in fact turned the barrier into a potentially lethal spear has been settled, court documents show.This week’s settlement of the $500-million action filed by the city of Stratford, Ont., in February 2015 will see Trinity Industries pay $400,000 — without any admission it did anything wrong.“Neither this agreement nor anything in it shall be interpreted as a concession or admission of wrongdoing or liability by (Trinity),” the settlement agreement states. “In fact, the defendants continue to vigorously dispute and contest the allegations made in the action.”About $131,000 of the settlement money will go to the Canadian National Institute for the Blind, $15,000 will go to the city as an honorarium, and the rest will cover disbursements incurred by its law firm, McKenzie Lake Lawyers.The money being paid to the institute for the blind will be earmarked for enhanced road safety nationally by allowing the organization to offer municipalities funding to install audible pedestrian signals in places where they otherwise might not have been.The proposed class action related to Trinity’s guardrail end unit, ET-Plus, a system installed on highways across the U.S. and Canada. The unit is supposed to absorb impact and guide the rail so a crashing vehicle doesn’t slam into the rigid steel end, but lawyer Matt Baer alleged on behalf of Stratford that those changes had in fact made the barriers dangerous.The Stratford settlement approved by Ontario Superior Court Ian Leach on Thursday follows an American Appeal Court ruling in favour of Dallas-based Trinity last September. The U.S. court said it had found no evidence Trinity had made secret cost-saving design changes to the ET Plus.In that ruling, the U.S. Appeal Court in New Orleans overturned a US$663-million judgment against Trinity that a Texas jury had awarded to Joshua Harman, a self-styled whistleblower and failed Trinity competitor.The original jury finding in his favour prompted dozens of states and some provinces to stop installing the ET Plus. It also prompted American highway authorities to order new tests, which found no issues with the rails.In a strongly worded decision, the U.S. court found the jury’s liability finding could not stand because the American government, aware for years of Harman’s allegations, had nevertheless rejected them and had continued to pay for installation of the guardrails.A notice by Stratford on Friday announcing the settlement references the U.S. court ruling.“A recent decision of the United States Fifth Circuit Court of Appeals noted that the Federal Highway Administration has consistently reaffirmed the ET-Plus end terminal system meets all applicable safety performance standards and has maintained an ‘unbroken chain’ of governmental approval from 2005 to the present,” the notice states.Dozens of U.S. states and several Canadian provinces stopped installing the units amid the various legal actions after Harman blamed at least 200 deaths and injuries in the U.S. on the ET Plus. American highway authorities subsequently ordered rigorous retesting of the units and found no defects.Trinity had consistently maintained its products behaved as intended and approved, and that various lawsuits related to ET Plus were without any merit.
REGINA – The Saskatchewan government has introduced a climate-change strategy that inches toward a price on carbon emissions, but leaves large parts of its economy untouched.And it doesn’t include a carbon tax, which Environment Minister Dustin Duncan was happy to point out Monday.“I believe it will achieve as much, if not more than, a carbon tax ever would,” Duncan said after introducing the plan.It calls for performance standards on facilities that emit more than 25,000 tonnes annually of carbon dioxide equivalent. Facilities that exceed their limit will have to pay.They will be able to buy carbon offsets from farmers or foresters, a carbon credit from another company with emissions under its allotment or pay into a provincial fund.The standards are to be developed next year, Duncan said.“We want to see the economy continue to grow and, for some industries, that means that their emissions will grow. It’s not a cap-and-trade program where we’re capping absolutely the amount of emissions.”Duncan said standards will recognize investments companies have already made to reduce their emissions, something the energy industry has been lobbying for.The document contains no goals or targets and doesn’t include estimates of how much greenhouse gas emissions are expected to be reduced. There is an undated pledge to have SaskPower, a Crown-owned utility, generate half its electricity from renewables.“They’re going to great pains to say they’re not doing carbon pricing and then implementing a policy which, everywhere else it’s implemented, is called carbon pricing,” said University of Alberta energy economist Andrew Leach.The biggest hole in Saskatchewan’s plan is its limited scope, said Leach.“They’re not touching their transportation, home heating, commercial and industrial energy use at all with this policy.”Alberta, British Columbia, Ontario and Quebec all have more inclusive plans, he said.Leach also noted the government hasn’t specified how high the emissions standards will be. Too high, he said, and carbon becomes worthless and few emissions will be cut.Federal Environment Minister Catherine McKenna said the plan is a good step toward carbon pricing.“Saskatchewan’s new plan proposes a performance standard for heavy industry that includes a carbon market. Momentum for carbon pricing is growing.”But she said it will have to be wider to satisfy Ottawa.“Based on what’s in today’s plan, Saskatchewan’s price likely wouldn’t hit our standard, because it applies only to heavy industry instead of being economy-wide.”Brad Herald of the Canadian Association of Petroleum Producers welcomed Saskatchewan’s plan.“There’s a great range of compliance options for us there.”He declined to say whether Saskatchewan’s plan is more favourable to industry than Alberta’s, which includes a carbon tax.“Both are legitimate,” he said.The Agricultural Producers of Saskatchewan also praised the plan. It leaves agriculture, the source of about one-quarter of the province’s emissions, largely exempt.“We also strongly reject the imposition of a carbon tax on our sector,” said association president Todd Lewis.Erin Flanagan of the Pembina Institute, a clean energy think-tank, said Saskatchewan’s plan is an improvement over previous positions.“It’s still not a credible approach to climate change,” she said. “They are last to the party, but it’s good they are moving forward with some pieces of an approach.”Flanagan said it’s tough to know how much difference the plan will make.“The fact they haven’t said what these (carbon) prices will be makes it difficult to know what kind of impact this is going to have. Saskatchewan doesn’t have an economy-wide (reduction) target.Saskatchewan has remained opposed to the federal government’s insistence that all provinces must have a price on carbon in place by 2018.Duncan said Monday’s plan doesn’t change that.“We’re prepared to defend our position. If that means go to court, so be it.”— By Bob Weber in Edmonton. Follow him on Twitter at @row1960
LONDON- Rafik Khalifa, a former magnate from Algeria who once owned an airline and a string of companies, will be extradited to his homeland from Britain by the end of the year, British officials said Monday.“Mr Khalifa was refused leave to appeal to the Supreme Court on December 3. He will be extradited within 28 days of that date,” said a spokeswoman for the Home Office.Once considered the “golden boy” of Algeria, Khalifa came from obscurity to build an empire including a bank, an airline and television stations, and employed 20,000 people in Algeria and Europe. He took refuge in Britain in 2003 when his business collapsed, costing the Algerian state and individual savers between $1.5 billion and $5 billion (1.1 billion and 3.6 billion euros).Algeria tried him in absentia in 2007, finding him guilty for criminal involvement and fraud and sentenced to life in prison, and demanding his extradition.He is to go into an appeal hearing on his return to Algeria.French authorities are also seeking to extradite Khalifa on fraud and embezzlement charges, but the Algerian request takes precedence.
Fans of Ohio State sports are lucky, spoiled even, you could say. Not only is Columbus home to one of the country’s best football programs with Urban Meyer at the helm, but the basketball team, under the watch of Thad Matta, has developed into a national power. Over the last five years, OSU leads all schools in the two-sport winning percentage of football and men’s basketball. The past academic year witnessed a flawed but driven football team go undefeated and a basketball squad, having to replace a two-time all-American and the program’s third all-time leading scorer, come within a game of matching its NCAA Tournament run from a season ago. As the photo editor of The Lantern, I was privileged to witness each of OSU’s 12 football games in person. I also covered the majority of the basketball team’s contests, including all of the Big Ten Tournament in Chicago and the NCAA Tournament games in Dayton and Los Angeles. Here’s the best that was on the gridiron and the hardwood in 2012-13 at OSU: Best game: OSU 73, Arizona 70, NCAA Tournament Sweet 16 Playing in one of America’s basketball cathedrals, OSU advanced to its second Elite Eight in as many seasons at the Staples Center in Los Angeles. The No. 6-seeded Wildcats, coached by Sean Miller, Matta’s former assistant at Xavier, raced out to a 26-17 lead. Junior forward Deshaun Thomas hit a couple 3-pointers to help the Buckeyes claw back to within four points at halftime. Out of the break, No. 2 seed OSU used a 10-2 run to take hold of the contest. The Buckeyes lead got as high as eight points with 7:42 to play, but an and-one layup from senior guard Mark Lyons tied the game at 70-70 with 21 seconds remaining. With the ball in his hands less than a week after hitting the game-winner in a third round contest against Iowa State, junior guard Aaron Craft passed to LaQuinton Ross with two seconds left. The sophomore forward and occupant of Kobe Bryant’s locker during the stay in L.A. hit a 3-pointer from the left arc to catapult the Buckeyes past the Wildcats. Best player: Then-sophomore quarterback Braxton Miller Thomas made a strong case for himself being the name in this category, leading the Big Ten in scoring and being OSU’s only offensive option for the most of the season. But as much as the junior forward was relied on this winter, Miller was to an even greater extent with the football team. The then-sophomore set a school record for total yards in a season and was a serious Heisman contender until the trophy’s finalists were announced in early December. In 2012, Miller totaled 3,310 yards and 28 touchdowns. With Thomas declaring himself eligible for the NBA Draft, Miller is likely to see his name in this category again next year. Best play: Craft’s game-winning 3-pointer vs. Iowa State Two plays made by players on the football team came to mind when trying to decide who would win this category. There was the scrambling run for a touchdown by Miller at Penn State that involved multiple juke moves before a leap into the end zone. And the superman-esque dive by then-sophomore linebacker Ryan Shazier into Wisconsin then-senior running back Montee Ball forced a fumble at the goal line and stopped history (Ball was a touchdown away from setting the NCAA career record). But neither of those, nor any play made by the football or basketball team this year, were better than the 3-pointer Craft hit in Dayton against Iowa State to send OSU into the Sweet 16. Dribbling the ball at the top of the key, the junior guard waved off calls for the ball by Thomas and junior guard Lenzelle Smith Jr. With Cyclone freshman forward Georges Niang isolated on him, Craft waited until there was one second left before firing a 3-pointer that found nothing but the bottom of the net. “I hope someday they put a statue in front of our building of him,” Matta said on CBS after the game. “Coaches were telling me he’s exhausted. He’s too tough to be tired. What a big-time shot.” Best moment: Then-redshirt junior quarterback Kenny Guiton leads comeback against Purdue OSU’s dream of an undefeated season nearly came to a screeching halt at the end of the third quarter of the Buckeyes’ Oct. 20 game against Purdue in Columbus. Miller had just suffered an injury, left the field on a cart and exited the stadium in an ambulance. OSU was trailing the Boilermakers, 20-14, and with its best player out, the team’s perfect 7-0 record was almost assuredly going to be handed a blemish. In stepped Guiton, who did little to help the Buckeyes’ cause until the game was just about over. With 2:40 left and the score 22-14, the then-redshirt junior threw an interception. Meyer grabbed Guiton, who was noticeably distraught. “I said, ‘You’re going to win us a game,’” Meyer said. “He looked right at me. I think he was down but I think that moment kind of picked him up.” OSU got the ball back, and Guiton led a 61-yard drive with 47 seconds left that ended with a touchdown pass to then-redshirt junior wide receiver Chris Fields. The Buckeyes tied the game with a two-point conversion on a lobbed throw to then-freshman tight end Jeff Heuerman and won the contest in overtime. Best underdog story: Zach Boren’s move to linebacker OSU’s defense had shredded in back-to-back games against Nebraska and Indiana in mid-October. The Buckeyes allowed a combined 87 points in those two contests, and at the heart of Meyer’s concerns about his defense was the linebacker position. Boren, then-senior and 30-game starter at fullback, had played linebacker in high school and was recruited to OSU to play that position. Sensing that his team needed someone to step up and fill a void, Boren asked Meyer if he could play linebacker during an October practice. Meyer obliged to the request, and Boren responded by helping revamp a defense that allowed just 57 points in November. The Pickerington native recorded 50 tackles on the season and averaged 8.2 tackles per game in his six games at linebacker, including a career-high 12 in the overtime win at Wisconsin. “Talk about Zach Boren. You want someone to write a book on, wow, that would be good if you go write a book on Zach Boren,” Meyer said. Best team: Football The basketball team can make its arguments: Big Ten Tournament champions, an Elite Eight Appearance and an 11-game winning streak. The football team only needs to make one, though. Undefeated. Meyer and his squad literally accomplished everything they could in 2012, winning all 12 of their games and recording the school’s first perfect season since 2002.
TCI Govt meets with Digicel and Carnival Cruise Lines Digicel T&T Donates Supplies to Anguilla and British Virgin Islands Related Items:ad control technology, digicel, jaimca Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppWednesday, 30th September 2015 — Kingston, Jamaica. Digicel, a leading provider of communications and entertainment services to customers in the Caribbean and South Pacific, announced today that it is deploying ad control technology at the network level on its networks across the globe to ensure a better experience for customers and to encourage the likes of Google, Facebook and Yahoo to help connect the 4.2 billion unconnected people across the globe. Ad control technology benefits both consumers and network operators alike. With ads using up as much as 10% of a customers’ data plan allowance, this move will allow customers to browse the mobile web and apps without interruption from unwanted advertising messages.Starting in Jamaica and rolling out to its other markets in the Caribbean and South Pacific in the coming months, Digicel will work with Israeli start-up, Shine Technologies, to be the first operator worldwide to deploy Shine’s mobile ad control technology at the network level. Shine’s technology blocks display and video ads inserted by ad networks in both mobile browsers and apps.For network operators meanwhile, for whom bandwidth is one of the most costly considerations, Digicel is looking to companies like Google, Yahoo and Facebook to enter into revenue sharing agreements with it so that this money in turn can be reinvested in network deployment and ultimately the bridging of the digital divide. Currently, these companies do not pay to make use of the network and the services they provide on it suck up bandwidth to make money for themselves through advertising while putting no money in.Broadband has proven to be transformative in both developed and developing countries alike promising to improve people’s lives and livelihoods and accelerate the achievement of the Sustainable Development Goals. In line with this, network operators across the world are investing billions in deploying state-of-the-art networks. Latest figures from the ITU state that 43% of the global population now has some form of regular access to the internet, but there are still some 4.2 billion people who do not. And in the least developed countries, this number drops to a very low one in ten people who have access.Denis O’Brien, Chairman of Digicel Group, explains; “This is about giving customers the best experience and about getting access to broadband to the unconnected and allowing them to benefit from the opportunities it affords. Companies like Google, Yahoo and Facebook talk a great game and take a lot of credit when it comes to pushing the idea of broadband for all – but they put no money in. Instead they unashamedly trade off the efforts and investments of network operators like Digicel to make money for themselves. That’s unacceptable, and we as a network operator, are taking a stand against them to force them to put their hands in their pockets and play a real role in improving the opportunities for economic empowerment for the global population.”Ron Porat, CEO at Shine, explains; “Shine is dedicated to putting a stop to the abusive behavior of mobile advertising toward the network operator and the consumer. As the first operator worldwide to deploy our technology at the network level, Digicel is making a clear call for an improved customer experience. We believe it is now time for everyone in the digital advertising ecosystem to look to the future and start having a conversation about how better and sustainable digital advertising can be created to foster stronger, mutually beneficial relationships that are based on transparency and trust.” Recommended for you Thousands without power in TCI
Some publishing companies that have been at the top of their categories (or even remain so) are now financially troubled and facing speculation about their fate. One is the residential construction giant Hanley Wood, long considered one of the best-run companies in b-to-b media. Another is Advanstar Communications, which was acquired by Veronis Suhler Stevenson in 2007 for $1.1 billion and is saddled with several hundred million in debt. (Advanstar is no stranger to bankruptcy—it endured the process in the early 1990s.)To be clear, our sources suggested that these companies might be vulnerable to a dramatic restructuring, not necessarily bankruptcy. Hanley Wood CEO Frank Anton said the company is not considering a Chapter 11 filing. Advanstar did not immediately return a request for comment. “That big media companies with a lot of leverage [usually from private-equity related M&A activity] are filing for protection is understandable right now,” said one financial observer. “When you start seeing pure strategic companies filing, that will be the bigger story. This fall should be interesting for the traditional media landscape. Only a few companies, probably, have not breached their covenants.”Clay Hall, CEO of Aspire Media—the sprawling enthusiast publisher based in Loveland, Colorado—said there are some telltale signs for companies that might be in danger. “Companies that are not number-one or number-two in their markets are likely candidates for bankruptcy,” he said. “Companies that continue to operate with the same strategies they had several years ago. Companies with debt rations of higher than four-times EBITDA (earnings before interest, taxes, depreciation and amortization). Companies with greater than 50 percent of revenue coming from advertising.”Leverage is usually the culprit. Even profitability doesn’t matter if the debt ratio is too large. “The companies that are vulnerable are the ones that have a lot of debt and are aggressively leveraged,” said Cam Bishop, founder of Clearview Resource Group, and a former CEO of both Intertec Publishing and Ascend Media. “And that’s the profile of most companies in the last five to eight years. That doesn’t mean they’re unprofitable. Some are extremely so, but covenant breaches that occur are primarily ratios that fall out of the range they’re allowed to be in, given the credit agreement. A publisher may only have one covenant—or several depending on the structure. They can be in compliance on all but one and then they’re in breach. That can force them into Chapter 11 or some kind of restructuring.”Coming Out of BankruptcyFOLIO: spoke with several publishing company operators about the bankruptcy potential within the industry, what publishers need to do to come out of it and the dangers along the way. Filing Chapter 11 filing doesn’t have to be the kiss of death. RDA CEO Mary Berner yesterday told staffers that its voluntary pre-arranged Chapter 11 filing is “the best type of bankruptcy to be in” and is “strictly a balance-sheet issue” with no mass lay-offs or salary cuts planned. The move will reduce Reader’s Digest’s debt from $2.2 billion to $550 million. RDA, which had been a publicly traded company, was acquired by the private-equity firm Ripplewood Holdings for $1.6 billion in 2006 ($2.4 billion if debt assumption is included).But that doesn’t mean it’s a painless process, particularly for the equity holders that get squeezed out and wiped out. The average Chapter 11 process in the U.S. runs for a year and a half and should be considered a last resort. “Once you go into Chapter 11, the courts have the authority to make decisions and you never know what the result will be,” said a publishing executive who wished to remain anonymous. “You go in with something prepackaged and the court could still cut a different deal. One thing to keep in mind is that when a publisher declares bankruptcy, its lenders aren’t collecting debt service. The only people that make out in Chapter 11 are the lawyers. They get paid first.” Chapter 11 also limits investment in a business—which can be fatal at a time when publishers are trying to reinvent themselves. “By the time a company gets to the Chapter 11 stage they’ve probably taken so much out that they’ve done irreparable damage to the brand,” said Harbor Communications president and co-founder (and former Penton president) Dan Ramella. “They probably need operating cash to give their properties a chance to revive themselves. As you continue to cut and trim back, the immediate effect is pretty imperceptible but as time goes on you’ve done so much damage to a brand it’s almost impossible to get it back.” Bankruptcy Not the Only OptionStill, filing for Chapter 11 isn’t the only recourse (and often it’s the threat of Chapter 11 that sends a company looking for alternatives). “Restructuring is an alternative to bankruptcy, but different classes of lenders have different rights when it comes to negotiating a restructuring,” said Canon Communications CEO Charlie McCurdy. “To accomplish one, lenders need to agree to a lower level of debt obligations. Often the threat of bankruptcy is used as a deterrent to bankruptcy in order to expedite an out-of-court restructuring.” Sometimes investors can put more money into the company to bring it back into compliance, but often credit agreements don’t allow that. “The PE guys would like to sell the business, that’s ideal,” said Ramella. “But given the nature of multiples and what’s happened in last couple years, business media is not as attractive to financial buyers as it has been in past. Historically, once they got in the game, they just kept selling to one another. Now the music finally stopped and the guys holding the businesses that are struggling can’t find someone to buy them.” Some private equity owners may just walk away. With Reader’s Digest reducing 75 percent of its debt, that’s basically what Ripplewood is doing. “Bankruptcy is all about not being able to pay creditors, whether it’s suppliers or banks or whatever,” said Ramella. “If one of these companies trips its covenants and the bank comes calling, they’re left with no option. They have to convince investors to put more in play and they don’t like to do that. It’s like people who have upside down mortgages—they just walk away. That’s what PE is doing when they have to go that route.” What Happens Next? While lenders began seeking stricter covenants last year, the industry may now see a return to “covenant-lite” deals that offer the publisher a little breathing room and flexibility to operate. Sales multiples will remain low, even as the “fire sales” so many financial observers were predicting earlier in the year become more common. “There are a lot of pre-backed businesses that aren’t overleveraged or at risk of going under,” said Ramella. “Some may be interested in taking such a business piecemeal, but how many want to try a whole business? That remains to be seen. A lot of companies are loath to sell individual properties over bundles, but the price of entry in publishing is not prohibitive. You do need deep enough pockets to find a good prospect, and if you’re patient, you’ll be a survivor. A lot of companies are struggling to have profit centers and brands that make money. They’re probably throwing cash off but not enough to cover the debt service. That’s where lot of these companies got caught.” With annual revenue of more than $2 billion, the Reader’s Digest Association may be the largest magazine publisher to ever file for bankruptcy. But it probably won’t be the last this year. The private-equity frenzy of the past decade, combined with the unprecedented downturn, has caught up with the industry. So far in recent months, supplier companies including distributor Source Interlink and printer Quebecor World filed for protection, and publishers including the newspaper giant (and owner of Connecticut magazine) Journal Register Co. and Cygnus Business Media have as well. Summit Business Media is said to be in the process of addressing several leverage covenant issues in its bank lending agreement, with sources saying the company has experienced a technical or paperwork default with its covenants rather than payment default issues. The publisher recently closed or sold off several business lines, including its art group and Executive Enterprise Institute.
Share your voice Post a comment 2019 Acura NSX review: Hitting its stride 2020 BMW M340i review: A dash of M makes everything better Tags 2020 Hyundai Palisade review: Posh enough to make Genesis jealous By now, with electric cars having fully and thoroughly entered the mainstream, the formula for how they’re made is pretty well established. You have one or two motors driving the wheels via traditional axles, a single-speed transmission and a big battery pack mounted as low as you can get it.That formula is established because it works pretty well, and it’s easy for automakers that have traditionally made internal combustion-powered cars to adapt to. But what if there were a different way to do it? Israeli EV startup Ree thinks it’s found one.Ree announced its new tech on Tuesday, and based on what we’re seeing so far, it could actually work. So what’s different about Ree and its design? To start, the drive components for the EV are contained wholly inside the wheels. This means that there is no bulky drive unit sitting between the front or rear wheels.That gives the advantage of having a completely flat floor for more passenger and cargo space in a given application. Having individual motors in each wheel also opens the door for really advanced torque vectoring, which would — in theory, at least — improve both safety and handling.Ree’s idea to put all the drive components inside the wheel isn’t necessarily a new idea, but it’s going further by including not only the motor inside the wheel but the steering, suspension, drivetrain, sensing, brakes, thermal systems and electronic components as well.Details on the actual designs are a little thin on the ground, but the suspension aspect can be fleshed out a little by looking at the company founder’s other project, Softwheel. Softwheel is designed for use on wheelchairs and bicycles and eschews traditional hard-mounted spokes for three gas struts mounted to the rim and the wheel hub.From there, you can infer some possible solutions where packaging is concerned. The motor could replace the traditional hub of an undriven wheel; the electronics and thermal management aspects would likely also be attached to the motor. Steering would be fairly conventional; we’d imagine with linkages, etc.Ree is really championing the scalable, modular nature of its technology. Since the architecture of a vehicle would be significantly simplified by having all of its drive and suspension systems inside its wheels, along with a flat floor that is made up of a structural battery pack, you could conceivably whack any body you like on top of it, depending on your need.We’ll be super interested to see if Ree can get any real traction with its designs, because it’s a fresh new way of looking at EVs and we kinda dig it. 4:33 Rinspeed Snap is a modular driverless pod and chassis concept More From Roadshow 25 Photos 0 See what your new electric car needs to break it in right Now playing: Watch this: Electric Cars Concept Cars Auto Tech
There has been a growing concern over the duration of the IPL matches and how teams are overshooting the time limit without any checks. Rohit Sharma and Ajinkya Rahane have already been docked Rs 12 lakh for the infringements, but the matches keep going on even after the stipulated time limit.Speaking on the issue, SunRisers Hyderabad coach Tom Moody has suggested that deductions be made from the net run rate of a team if their over rate is slow as only this will force captains to be sharper. Moody also believes that fines and deductions might not be the solution for teams as clearly, IPL captains do not seem to be bothered. Warner and BairstowIPL InstagramFormer England captain Michael Vaughan took to Twitter after the match between Kolkata Knight Riders and Delhi Capitals and said that the duration of the match should not be acceptable. T20 is a great product .. but games are now taking over 4 hrs .. Too long IMO .. The super over in Delhi took 30 mins !!!!! The 100 might just be the answer you never know …. #OnOn #IPL— Michael Vaughan (@MichaelVaughan) April 3, 2019Responding to this particular Tweet, Moody said that fines and penalties are not helping the cause and that net run rate of the infringing team should be impacted. This practice has been started in the Caribbean Premier League and has helped increase the pace of the game.Kaif speaks about the issue Delhi CapitalsBCCI/IPLDelhi Capitals fielding coach Mohammed Kaif has raised the issue of franchises like KKR and KXIP subbing slower fielders with fast men during matches in order to improve their over rate and also increase the pace of the game. “We saw in the last game against KXIP also, Punjab doing the same thing- Sarfraz Khan did not come out to field the entire game. We thought the ball hit his gloves and then it was told its an injury. I do not know where he was injured, the umpires would know that. But this is a new method being used by teams. Teams are being smart and making this sort of changes which is not right, according to me,” Kaif said.Kaif also said that T20 was meant to be fast-paced and that too many meetings lead to wasting a lot of time and it also muddles with the mind of the players.”There are long meetings before the game and then, time is wasted on strategising field positions. This, in turn, confuses players and bowlers. It is better to leave them with a clear mind. Suddenly you can’t have ten people advising the player,” he explained.
ReutersAmid reports of IBM India following in the footsteps of Infosys, Wipro, and others and planning the layoff of a large number of employees in the coming months, the IT giant has refuted the rumours and said that there aren’t such massive layoffs in the offing.”This is factually incorrect. We are not going to comment further on rumours and speculation,” NDTV Profit quoted a statement from IBM. The company has about 1,50,000 employees in the country and it was earlier said that about 5,000 of them were likely to be shown the door in the next few months.IBM has denied reports of the mass layoffs, but the ongoing performance appraisal may affect a few of the employees. Speaking of the same, a source told ET Now: “The process has started. Managers have been asked to identify underperformers,” and another revealed that the company is also not hiring anyone as of now.While the layoff reports may have created quite a buzz among employees in the IT sector, IBM explained that a few may be affected by the performance-based appraisal, which happens every year. “Re-skilling and rebalancing is an ongoing process as we accelerate the benefits of cognitive and cloud technologies for clients around the world,” the US-based firm said in a statement. Infosys campus in Bengaluru.Reuters FileIn the last week, a number of IT giants have made headlines for the job cuts planned in 2017. Infosys, Wipro, Cognizant, Capgemini, and many others were said to be laying off employees in the country. While some were accused of cutting jobs in India to hire workers in the US, others were said to be concentrating on cost optimisation.However, the companies later clarified through official statements that there were no mass layoffs in the pipeline and the sackings were on the basis of the employees’ performance. Sluggish global economy and automation were also said to be the reasons behind the job cuts. Hiring and headcount details based on company filings.Quarterly results and statements.Apart from laying off its employees, IT giants are also hiring a lesser number of employees each year as most of the companies now rely on digital services.”With automation, the number of people we are hiring in the past will not be the same. It will slow down a little bit. We are also looking at hiring very differential kind of people,” Indian Express quoted Krishnamurthy Shankar, executive vice-president, group head, human resource development, Infosys, as saying.Pankaj Bansal, co-founder and chief executive officer of PeopleStrong, noted that the job cuts due to automation may not show a drastic impact right away, but it will be visible by around 2020. “The change has started, with companies introducing bots for customer service, managing warehouses, etc.,” he told LiveMint.
UNICEF is launching a US$76.1 million appeal for its emergency humanitarian response to the Rohingya refugee crisis in Bangladesh.The appeal will cover immediate needs of newly-arrived Rohingya children, as well as those who arrived before the recent influx, and children from vulnerable host communities.Such number, according to a UNICEF news release, is 720,000 children in all.Up to 60 per cent of the 500,000-plus Rohingya who have fled Myanmar since 25 August are estimated to be children, said the UNICEF.Most are now living in harsh and insanitary conditions in makeshift camps and settlements spread across the district of Cox’s Bazar, observed the global body.“Desperate, traumatised children and their families are fleeing the violence in Myanmar every day. We are scaling up our response as fast as we can, but the magnitude of need is immense and we must be able do more to help them,” said UNICEF executive director Anthony Lake, who is visiting Cox’s Bazar.“These children are being denied a childhood. They need our help now and they need our help to have a future.”Expanding the provision of safe water, sanitation and improved hygiene for Rohingya children is the overriding priority of the appeal, amid concerns over a possible outbreak of diarrhea and other waterborne diseases, according to the UNICEF.It said the majority of Rohingya children are not fully immunised against diseases such as polio.An earlier UNICEF appeal for US$7 million has been expanded to reflect the fast-growing scale of the crisis.
As the eighth edition of Indian Premier League concluded with the Mumbai Indians taking home the crown for the second time post a massive 41-run victory over two-time champions Chennai Super Kings, the IPL fever is refusing to die out among cricket fanatics. Despite being a punching bag for critics, who see it as nothing but cheap commercialisation of the game, the ground reality is strikingly different with its ever surging viewership according to TAM ratings. Also Read – ‘Playing Jojo was emotionally exhausting’The tournament continues to be hugely popular among children, who are not bothered by the controversies surrounding the tournament and watch it to get their dose of entertainment. The conclusion of this season, however, has created a void and has left many miserable as no major sporting tournament is scheduled to catch their fancy anytime soon, India being majorly a cricket loving nation.Sarthak Saini, 16, has mixed feelings over the ending of this season. He is ecstatic as his favorite team has taken the title, but at the same time gloomy as the good times have ended. “This season of the IPL has been special as my favourite team has won the title. But there is nothing interesting to catch up on television now,” he said. His opinion is similar to that of Vaibhav, 15, a CSK fan and budding cricketer. He said, “Although CSK eventually lost, overall the tournament has been exciting. I have watched almost every match since the beginning of my summer holidays and now the rest of my vacation is going to be quite boring.” Also Read – Leslie doing new comedy special with NetflixOn the other hand, Ayachi, 22, does not care much.” I supported KKR and lost interest in the tournament once they were out. I am disappointed, but hope to see them buckle up for next season. Being a sports aficionado, I have much to look forward to with the French Open in tow”, she said.The Indian Cricket team has a packed schedule this year. The team would be heading to Bangladesh for a test and then leave for the Zimbabwean shores in July to play a bilateral series comprising three One Day Internationals and two T20 ventures. However, both these series cannot match up to the excitement of IPL for youngsters. However, 15-year-old Smriti Jha said: “I am waiting for the series against Pakistan in December as that promises some real action.” The reason for IPL’s high popularity among children seems to be its perfect amalgamation of cricket, glamour and entertainment. The tournament also gives fans a chance to see their favorite players from across the world on the same platform. “Although IPL cannot compete with other formats of Cricket in terms of standard, still I like it because it gives me an opportunity to see the likes of Kohli, De Villiers and Gayle playing together”, said Sanjeev,19, a diehard RCB fan. Since its inception, the tournament has been raising bars and has touched pinnacle this year. Although the cricket extravaganza has ended for this session, it promises to be back with a bang next year. Wait for the action!
Free Workshop | August 28: Get Better Engagement and Build Trust With Customers Now July 16, 2013 Commitment phobes, rejoice! Gadget geeks, you might like this, too.Telecom giants are moving to allow customers to upgrade their tablet or smartphone after a year. AT&T today announced a program called AT&T Next, which cuts the typical two-year contract in half. It follows on the heels of a similar announcement from T-Mobile last week.Related: The Entrepreneur Who Will Change Your Mobile Phone BillStarting July 26, AT&T customers will be able to get a new mobile device without having to pay a down payment, activation fee, upgrade fee or financing fee. Instead, AT&T Next customers will pay monthly installment fees, ranging from $15 to $50, depending on the device. If, at the end of the 12 months, a customer wants to try a new phone or tablet, they can upgrade without the typical costs. If a customer chooses to continue with the same device, they can pay an additional eight monthly installments.”It’s an incredible value for customers who want the latest and greatest every year,” says Ralph de la Vega in a statement, president and chief executive officer of AT&T Mobility, a division of AT&T.Related: The Revolution Will Be TextedThe move is an effort to get customers, beyond gadget geeks and technophiles, to upgrade their smartphone or tablet device more frequently. Bellevue, Wash.-based telecom giant T-Mobile has launched a program called JUMP!, which allows customers to upgrade their smartphones up to two times a year after they have been in the program for six months.”At some point, big wireless companies made a decision for you that you should have to wait two years to get a new phone for a fair price,” said John Legere, moved attribution up president and CEO of T-Mobile U.S., in a statement. “That’s 730 days of waiting. 730 days of watching new phones come out that you can’t have, or having to live with a cracked screen or an outdated camera. We say two years is just too long to wait.”Customers pay $10 a month per phone to participate in T-Mobile’s JUMP! program, plus taxes and fees. That fee protects broken, damaged, lost or stolen phones, and costs depend on the smartphone or tablet selected. Related: Apple to Investigate Alleged Death by iPhone This hands-on workshop will give you the tools to authentically connect with an increasingly skeptical online audience. 2 min read Enroll Now for Free
State Rep. Brandt Iden – chair of the influential Michigan House Ways and Means Committee – tonight said workforce and talent development is the key to continued success for the state and the Portage/Kalamazoo region.“We have a great opportunity to build on our recent comeback and move Michigan forward into the new decade,” said Iden, who was joined by Portage Mayor Patricia Randall for Gov. Gretchen Whitmer’s State of the State address at the Michigan Capitol. “Investing in talent development is an investment in our future. We must ensure our young people and workers of all ages have the skills needed to succeed in an ever-changing economy.”Iden, of Oshtemo Township, said he will prioritize working with the governor and Legislature to help equip students and workers with the skills needed to fill high-demand, good-paying jobs. Iden also supports policies aimed at helping job providers create new opportunities for Michigan workers, and reforming burdensome occupational licensing requirements to allow those re-entering the workforce — including those rehabilitated after serving prison time – to better provide for themselves and their families.Iden noted Michigan’s unemployment rate has dropped from 14.6 percent in mid-2009 to about 4 percent entering 2019.“The recent job growth experienced with many of Portage’s key employers shows we’re headed in the right direction,” Iden said. “Now it’s time to take the next step forward and continue the comeback with positive policy important to residents of every city, village and township in Michigan.”### 12Feb Rep. Iden on State of the State: Michigan must invest in talent and workforce development to continue economic momentum Categories: Iden News,News PHOTO INFORMATION: State Rep. Brandt Iden, of Oshtemo Township, attends the Governor’s annual State of the State address with his guest, Portage Mayor Patricia Randall.
Legislator: Schools shouldn’t have to choose between safety and funding State Rep. Michele Hoitenga, of Manton, is working on a policy fix for the current snow day issue affecting schools across Michigan.Current law requires schools to hold 180 school days and 1,098 classroom hours each year to receive state funding. Hoitenga’s proposal would allow schools to choose between the two, rather than mandating they meet both requirements.“This gives school districts more autonomy in dealing with harsh winters like we’ve faced this year,” Hoitenga said. “Schools should never be put in a situation where they must sacrifice the safety of their students to ensure funding from the state.”The representative spoke with superintendents throughout the district to weigh every option; this plan being one of them.Hoitenga said she would like to see a change like this be retroactive to ensure schools maintain current funding for the 2018-19 school year.Questions about this issue may be addressed to Hoitenga’s Capitol office at (517) 373-1747 or MicheleHoitenga@House.MI.gov. 13Feb Rep. Hoitenga working on school snow day issue Categories: Hoitenga News
The European Council (EC) has adopted new rules that allow consumers who pay for online TV subscriptions in their home territory access them elsewhere in the EU.The rules, which cover all forms of content services, were passed in May, meaning Netflix, Amazon and HBO Go customers will now be able to access those platforms while in other European territories.The EU has hailed the move’s importance for Europe’s Digital Single Market policy, but content distributors remain concerned it rips up their territorial business model.Essentially, distributors are concerned programmes or films they could have sold into individual territories will find no longer be of interest to buyers, as they are already in effect available.The EU says measures to protect their business models will be adopted.The rules only apply to paid-for services, though free-to-air services such as the BBC iPlayer provided by public service broadcasters can take up the system.“Europeans travelling within the EU will no longer be cut off from online services such as films, sporting broadcasts, music, e-books or games they have paid for back home,” said the Maltese presidency of the EU in a statement.“Together with the ending of roaming charges, this is important progress in creating a digital single market which benefits everyone.”To avoid “abuses”, service providers are being asked to verify subscribers’ member state of residence.The rules will start to apply from the first quarter of 2018.