Salary reductions for top NBA execs

first_img Written by FacebookTwitterLinkedInEmailTop NBA executives are having their base salaries reduced by 20% for the foreseeable future, a person with knowledge of the details said.The reductions affect the roughly 100 highest-earning executives, as the NBA joins the NHL and NASCAR in cutting salaries while competitions are on hold because of the coronavirus.The cuts are effective immediately and affect NBA employees both inside the league headquarters in New York and in global offices, the person told The Associated Press. The person was granted anonymity because the reductions were not announced publicly.Health benefits remain unaffected and there are no changes for the rest of the organization, including support and administrative staff.The NBA suspended its season on March 11 when Rudy Gobert of the Utah Jazz became the first player to test positive. The league is still discussing scenarios for resuming play once allowed. Associated Press Tags: Adam Silver/Coronavirus/COVID-19/NBA/Rudy Gobert/Utah Jazz March 26, 2020 /Coronavirus (COVID-19) related news and sports stories, Sports News – Local Salary reductions for top NBA execslast_img read more

Roxane Leopold honored with Champlain College Distinguished Citizen Award

first_imgBURLINGTON, Vt.–At Champlain College’s Convocation ceremony on the afternoon of September 10, President David F. Finney bestowed the College’s 2007 Distinguished Citizen Award on Roxane Leopold, the former executive director of the King Street Youth Center in Burlington.The award is given annually by the College to a person who displays exceptional personal and professional achievement, a strong record of community service, and dynamic leadership based on equal parts intelligence and wit, creativity and humility.Finney told Champlain freshmen, faculty and staff that what distinguishes Leopold is the spirit she brought to King Street during her 22 years of leadership. “Roxane’s genuine love for her fellow human beings and her devotion to children became the core of the King Street Youth Center, and gave that space life and a sense of being,” he said.The King Street Youth Center provides early education programs, after-school programs, mentoring and teen programs to youngsters from a variety of backgrounds including new immigrants. Leopold’s accomplishments included a capital campaign in 1992 that raised more than $1.6 million in just eight months, and enabled the Center to move to, refurbish and expand its current location. Leopold’s colleagues say that she fervently believes in the strengths and abilities that each child and family possesses. Through her philosophy of caring, Leopold inspired children, families and her staff to maintain their dogged determination to continue their work.Champlain College Trustee Holly Miller said, “Roxane helped people understand that an investment in children is an investment in the future of our community. She was able to bring these children into the eyes of the community, as well as bring the community into their eyes.””Her profound depth of knowledge and caring for children made her both a risk taker and a pioneer,” Miller said. “Long before ‘mentoring’ became part of the lexicon, Roxane had already mentored us.”In remarks delivered at the Convocation ceremony, Leopold reminded the students that they were among a privileged group to be earning a higher education and that “to whom much is given, much is expected.” She urged students to follow their bliss and stay focused while discovering their own ‘equipoise’ — a state of balance and equilibrium in their lives.After more than 20 years of service, Leopold stepped down two months ago as executive director of the King Street Youth Center. She is a resident of Burlington.# # #last_img read more

Oil industry set to ink record number of renewable energy deals in 2019

first_imgOil industry set to ink record number of renewable energy deals in 2019 FacebookTwitterLinkedInEmailPrint分享 world’s biggest oil companies are on track to do a record number of deals to invest in alternative energy and green technologies this year, BloombergNEF said in a report on Wednesday. Seven months into 2019, Big Oil has already made nearly 70 deals involving renewables and biofuels, compared to 80 such agreements for the entire 2018, according to the report.European oil majors are much more active than U.S. supermajors on the clean energy investment front, having sealed seven times as many agreements as the U.S. firms, BloombergNEF said. The most active oil firm in clean energy investment is Shell, beating its French rival Total to the first place this year, according to BloombergNEF’s report.Big Oil has been facing increased investor pressure to start addressing climate change risks and set emission reduction targets if the world is ever to achieve the Paris Agreement targets.Earlier this year, BP’s shareholders voted in favor of a climate change shareholder resolution, pushing the UK oil and gas supermajor to set out a business strategy consistent with the climate goals of the Paris Agreement.Shell announced its first-ever short-term goals to cut the carbon footprint of its operations and product sales. In July, Shell’s chief executive Ben van Beurden said that the world reducing emissions to net zero “is the only way to go,” and called on businesses to work together to move faster in addressing climate change. The Anglo-Dutch major has pledged to invest US$2 billion annually in renewables and clean technologies.More: Big Oil to seal record number of green energy deals in 2019last_img read more

Colombia Finds OAS Insignias in a Drug Vehicle

first_img AFP Colombian authorities found a vehicle that appeared to belong to the OAS mission in support of the Colombian peace process, and which was also adapted to transport drugs, the Prosecutor’s Office reported on March 2. No arrests were made during the seizure. The vehicle, with insignias of the Organization of American States (OAS) and a fake license plate exclusively used by diplomatic delegations in Colombia, was found by agents of the Prosecutor’s Office in the city of Cali. The OAS mission, established in 2004, monitors the compliance of peace agreements made with the paramilitary organization United Self-Defense Forces of Colombia (AUC). Furthermore, the OAS mission also monitors Colombia’s obligations for human rights and international humanitarian law. The AUC, which used to combat guerrillas, committed hundreds of crimes against civilians and was demobilized between 2003 and 2005 through an agreement with former President Álvaro Uribe, which granted them procedural privileges in exchange for truth and reparations to their victims. Deputy prosecutor general Jorge Perdomo, told reporters that the agency “will coordinate with international organizations to establish a control mechanism” that allows the identification of vehicles. center_img The fake OAS vehicle was discovered by chance, during an operation to seize the property of the Narváez Reina family clan, dedicated to smuggling drugs into the U.S., the report stated. Colombia, which has endured a close to fifty-year armed conflict involving guerrillas, paramilitaries, and drug traffickers, is currently going through a peace process with the Revolutionary Armed Forces of Colombia. By Dialogo April 04, 2013 Agents discovered nine hidden compartments for transporting drugs, according to a statement released by the investigating agency. “The authorities are deeply concerned because insignias from international organizations were used to commit criminal activities,” he added. last_img read more

JPMorgan hackers go undetected for years

first_imgFor three years, a group of five men managed to hack into the highly secure servers of some of the world’s largest financial institutions, run an illicit payment processing scheme, and, for a shorter time period, take over a credit union that was generating $30 million a month in ACH payments.So how did they fly under the radar for so long? continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

Binghamton University hosts watch party for Nobel Prize ceremony

first_imgThe viewing party was open to everyone at the Center of Excellence at the Innovative Technology Complex. The ceremony was live streamed from Stockholm, Sweden. “It establishes Binghamton University as a world class research university, it shows the fact that we have faculty here who can win at the highest level. We knew this already, we knew that we have outstanding faculty, this is just a confirmation that we can compete at any level.” said Vice President of Research Bahgat Sammakia. VESTAL (WBNG) — Binghamton University distinguished Professor M. Stanley Whittingham received his Nobel Prize in Chemistry Tuesday morning.center_img Whittingham is the first professor from Binghamton University to win a Nobel Prize. Whittingham is one of three sharing the award for the development of the lithium-ion battery, a proud day for all of his colleagues last_img read more

Danish roundup: PensionDanmark, Industriens, Nordea, DIP

first_imgInvestment returns at Danish labour-market pension fund PensionDanmark grew in 2014 to around 10.5%, with all asset classes contributing, although the scheme forecast lower year-on-year returns for the current year.In absolute terms, the return for the whole of last year was DKK16.2bn (€2.18bn), with 40-year-old scheme members receiving a 10.5% return and 65 year olds seeing a 10.6% return, the pension fund said.By contrast, the return in 2013 was 9.3% for the younger age group and 3.9% for the older. Torben Möger Pedersen, PensionDanmark’s chief executive, said: “We are very pleased with the investment return for 2014, when we, like other investors, profited well from falling yields and rising share prices.” Investments in stable alternatives such as property and infrastructure had made a good contribution to the overall return, he said.“But one can’t expect that in 2015 there will also be profits to be had on both swings and roundabouts,” he warned.One should expect a lower return this year, even though the pension fund’s return in the last few years has shown its investment portfolio can do well in both tailwinds and headwinds, he said.Listed equities generated 12.2%, while bonds returned 8.9%, PensionDanmark said.Meanwhile, industrial sector labour-market fund Industriens Pension posted an 11% overall return for 2014, driven by Danish equities and private equity.The return was DKK12.6bn (€1.7bn) in absolute figures, up from DKK7bn, or 6.7% in 2013.The pension fund’s chief executive Laila Mortensen said: “As in earlier years, we have achieved a high return on our large holding of Danish equities, and our growing portfolio of private equity and infrastructure assets also delivered a big contribution.”Private equity came with large costs, she said, but added that the pension fund expected the returns on this asset class would more than offset them.She said Industriens had always been very selective with its unlisted investments, and took this approach during the financial crisis, too, when it was possible to buy into companies and assets at advantageous levels.“It is these investments, among others, that have borne fruit in 2014,” she said.Nominal gilt-edged bonds returned 7.8% in 2014, while indexed gilt-edged bonds produced 5.4% and corporate bonds returned 4.2%.Danish shares returned 21.5%, foreign equities 10.7% and private equity 15.4%.In other news, engineers’ pension fund DIP reported a return for last year of 8.1% but said this was likely to be at the low end of the league table of returns produced in the Danish pensions sector.This was because DIP had been unable to add the interest-rate hedging profits that some others would be able to include.However, at 8.1%, the pre-tax investment return was higher than had been expected at the beginning of the year, DIP said.The return was primarily boosted by positive development on the equity markets as a result of expectations of positive growth mainly in the US, it said.It pointed out that DIP did not have yield guarantees to meet on its pensions and therefore did not hedge interest rates.“This means DIP does not have profits on insurance against falls in interest rates,” it said, adding that this meant its overall return was expected to lie at the low end of those reported by the sector.Meanwhile, Nordea’s Life & Pensions business division saw a 24% rise in annual operating profit for 2014 to DKK389m, as premiums grew by 13% in the last quarter of the year.Gross written premiums rose to €2.1bn in the fourth quarter, up 13% from the same quarter in 2013.“The market return product-driven sales momentum in the Nordea Bank channel continued to fuel new business sales in the fourth quarter,” the group said.Market return and risk products accounted for 87% of total gross written premiums. The products also amounted to 52% of assets under management at the end of the fourth quarter.The rise in operating profit from the third to fourth quarters of 2014 of 67% was largely due to higher profits on traditional products, as well as the write-down of deferred acquisition costs in the Polish pension fund subsidiary of €27m in third quarter, Nordea said.Check out Caroline Liinanki’s excellent article on how Nordic pension funds are ahead of the game’when it comes to decarbonisationlast_img read more

HEAVY PENALTY: Businesses violating GCQ may not operate anymore

first_imgClients of the lodge were told to leave and the management was ordered to close shop. “We received information about this lodge last week and did a stakeout on Wednesday night. May nakita kami nga taxi, walk-in and private car nga nagsulod kag wala nakagwa. Naaktohan gid naton,” said Canong. The lodge’s management promised to comply with the EO, said Canong. Under the EO, the following activities are also prohibited: * observing physical distancing Their permits would be revoked and even if the day would come that the Interagency Task Force on the Management of Emerging Infectious Diseases would allow them to operate, the city government won’t approve, warned Mayor Jerry Treñas. * libraries, archives, museums and other cultural activities * gyms, fitness studios, and other sports facilities * wearing of facemask  * activities of travel agencies or tour operators/PN On May 16, this city transitioned from enhanced community quarantine (ECQ) to GCQ, easing restrictions in the operation of businesses, transportation and travel, among others, to rev up the local economy while at the same time curbing the spread of coronavirus disease 2019 (COVID-19). These are the safety measures: * travel agencies and tour operators * entertainment-related mass gatherings including theaters, large concerts, festivals, conventions, and shows including those in pubs or bars, restaurants, coffee shops, cocktail lounges, and other similar establishments ILOILO City – Establishments prohibited from opening under the general community quarantine (GCQ) but nevertheless continue to do business face severe punishment. * business-related mass gatherings like trade shows, conferences, workshops and rentals * amusement centers including movie houses, computer and online gaming shops, all-night clubs, pubs, massage parlors, casinos, cockpits, and the like The city government’s Public Safety and Transportation Management Office, on the other hand, had been asked to “take charge of the inspection of the operation of mass public transportation and the compliance of all other persons to the health standards.” * regulated travel of persons between ECQ (including modified ECQ) and GCQ areas No arrests, however, were made because, according to Canong, the city government was still carrying out an information dissemination campaign on Treñas’ EO. Treñas has started deploying “compliance officers” across the metro to check who’s following and violating EO No. 75 placing the city under GCQ. The city government’s Task Force on Morals and Values Formation made the discovery on May 20, according to its chief, Nestor Canong. The following are not allowed to open yet under the GCQ as stated in Treñas’ Executive Order (EO) No. 75: A lodging house in Barangay Sto. Niño Sur, Arevalo district was discovered to be operating in violation of Treñas’ EO. Mayor Jerry Treñas. ARNOLD ALMACEN/CMO * confinement at designated quarantine and isolation fatalities LODGE CAUGHT OPERATING * sports-related mass gatherings like trainings and tournaments * politically-related mass gatherings like election rallies, parades and speeches * spas, massage centers, facial centers and the like * gambling and betting activities * resorts, parks, beaches and other leisure/tourism businesses As stated in Section 11 of EO No. 75 : “The Business Permits and Licensing Office as well as other authorized officers of the Iloilo City Government shall take charge of inspecting and ensuring that establishments allowed to operate…strictly comply with health standards and safety measures.”last_img read more

‘Deafening silence’ from majority of Barcelona squad since Messi issued quit notice

first_imgThere has been a deafening silence from most of Koeman’s playing staff regarding Messi’s situation, with the possible exception of Luis Suarez – whose future at the club remains unclear – and Arturo Vidal, who is in a similar position. The rest of the Barcelona squad, including those in Messi’s inner circle such as Sergio Busquets and Gerard Pique, have so far kept quiet. Messi’s father and representative Jorge is expected to meet with the Barcelona hierarchy, including president Josep Maria Bartomeu, on Thursday to discuss his son’s future. Messi, who has played for the club for almost 20 years, informed the club last week he wants to leave. La Liga seems to have dashed his hopes of leaving Barcelona on a free transfer by stating his release clause will have to be paid if he is to leave the Nou Camp. Sky Sports News has confirmed the 33-year-old has requested a meeting with senior figures at the club to resolve the impasse over his transfer request. Messi, who has a buyout clause of €700m (£627m), has been tipped to move to Manchester City, where he could link up with his former manager Pep Guardiola. A move to the Etihad Stadium would also see him link up with international colleagues Sergio Aguero and Nicolas Otamendi, while Paris Saint-Germain and Inter Milan are also said to be preparing offers for the player widely considered to be one of the best footballers of all time. The 10-time La Liga winner and four-time Champions League victor has asked to activate his release clause that would end his contract, which is due to expire in June 2021, and permit him to leave for free this summer. But Barcelona have clearly expressed this clause in his contract has already expired. Messi’s lawyers are arguing that – in the spirit of the deal and good faith – the clause is still active after the rescheduled Champions League final on August 23, which was delayed due to the coronavirus pandemic. Since making his debut in the 2003/04 campaign, Messi has played 731 games for Barcelona, scoring 634 times in all competitions. Messi had, for a while at least, believed he could walk away from Barcelona on a free transfer by exercising a clause in his contract which stipulated he could leave at the end of every season without a single Euro being paid to the club. Even though the deadline to exercise the clause has passed, Messi’s lawyers believe Barcelona should honour it as the season had to be extended because of the coronavirus pandemic. However, La Liga has bolstered Barcelona’s stance, with the club insisting the clause has expired and the only way Messi will be allowed to leave is if his €700m release clause is paid in full. Danny Mills explains why Manchester City could be the perfect fit for Lionel Messi. “At every club, you’d be stupid not to be sailing close to the wind if you can generate the revenue, then you’ve got to maximise what you can spend. FFP is there to hold clubs like City back, which must be frustrating when they’ve got one of the richest owners in the world, and he just cannot spend the money he would like to on the football club. I understand his pain, because other clubs have been able to do that for 20, 30, 40 years. “City do have assets. Raheem Sterling’s a great example, they bought him for £50m, he must be worth £100m now – he’s already said he might be interested in a move to Real Madrid. If at some point in the future, they have to sell someone like Raheem Sterling to finance the club going forward, they might do that. “Every year their academy makes them anything from £10m to £40m in player sales, and we don’t hear much about it because they’re 18-19-year-old kids. That is a profit-making enterprise. They’re very smart on that front and they maximise their income there. read also:Guardiola makes surprise U-Turn on Messi chase – Reports “For every one of them, they’ve got a Phil Foden. What would he be worth in today’s market? Even now, about £100m probably. “They’ve got things in their favour, and from their point of view, they’ll have the best legal and financial minds looking at this. If Juventus, a club who earn let’s say £100m a year less than Manchester City, can afford a deal for Cristiano Ronaldo, then City in the richest league in the world can definitely afford, one way or another, a deal to sign Lionel Messi.” FacebookTwitterWhatsAppEmail分享 Loading… center_img Promoted Content8 Things That Will Happen If An Asteroid Hits EarthWhat Happens To Your Brain When You Play Too Much Video Games?A Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This Day5 Of The World’s Most Unique Theme ParksThe Highest Paid Football Players In The World6 Ridiculous Health Myths That Are Actually True8 Superfoods For Growing Hair Back And Stimulating Its GrowthThe Highest Paid Football Players In The World7 Reasons It’s Better To Be A VeganTop 10 Tiniest Phones Ever MadeBest & Worst Celebrity Endorsed Games Ever MadeBut Who In The World Taught Them Those Moves? Was It Papa Bear?last_img read more

Midweek events at Independence, Kossuth County next for Deery Series

first_imgVINTON, Iowa (June 29) – A pair of midweek events are next on the schedule for the 30th annual Deery Brothers Summer Series.Touring IMCA Late Models race for $2,000 to win and a minimum of $300 to start on Wednesday, July 6 at Independence Motor Speedway and Thursday, July 7 at Kossuth County Speedway in Algona.The series is still looking for its first repeat winner as Denny Eckrich, Curt Martin, Scott Fitzpat­rick, Joel Callahan, Ray Guss Jr. and Justin Kay all have made their way to victory lane through the first six events.Seven-time champion Jeff Aikey maintains a tenuous hold on the point standings heading to In­dee. The $9,325 tour point fund for the first half of the series will be paid to drivers in top 10 stand­ings following the Algona event.This Independence show is during the Buchanan County Fair and there will be a separate en­trance between the pit shack and the grandstand where fans can purchase spectator admission without paying to get into the fair as well.Tickets are $16 for adults and $12 for seniors and students, with 11 and under free. Pit gates and the grandstand both open at 5 p.m. Hot laps are at 6:45 p.m. with racing to follow.Also running are Xtreme Motor Sports IMCA Modifieds in the Dale Miller Memorial for $1,000 to win and Karl Chevrolet Northern SportMods for $500 to win. National, regional and state but no local track points will be awarded for the draw/redraw show.More information is available by calling 319 474-7177 and at the website.Pit gates and the grandstand both open at 5:30 p.m. Thursday at Algona. Hot laps are at 6:30 p.m. with racing to follow.Spectator admission is $15 for adults and 14 and under are free.Also running are Xtreme Motor Sports IMCA Modifieds, IMCA Sunoco Stock Cars, IMCA Sunoco Hobby Stocks, Karl Chevrolet Northern SportMods and Mach-1 Sport Compacts for all points, including local track.More information is available by calling 515 341-3562 and at the website.Pit passes are $30 both nights.Independence has been a frequent stop for the series since its inaugural season. Martin has won six Deery events at his hometown track while Aikey counts four local checkers among his career-leading 66 victories, among them his first tour victory, on June 2 of 1987.Next Thursday’s show will be just the third held at Algona. Darrel DeFrance, who has competed at all 457 events in series history, won there in 2008 while Andy Nezworski topped the Kossuth County Speedway headliner last July.The second half of the Deery Series season kicks off with another $2,000 to win, minimum $300 to start event on Sunday, July 10 at Dubuque Speedway.Deery Brothers Summer Series top 20 point standings – 1. Jeff Aikey, Cedar Falls, 258; 2. Tyler Bruening, Decorah, 254; 3. John Emerson, Waterloo, and Ryan Dolan, Lisbon, both 249; 5. Scott Fitzpatrick, Wheatland, 237; 6. Matt Ryan, Davenport, 226; 7. Richie Gustin, Gilman, 225; 8. Joe Zrostlik, Long Grove, and Joel Callahan, Dubuque, both 222; 10. Darrel DeFrance, Mar­shalltown, 220; 11. Cayden Carter, Oskaloosa, 214; 12. Andy Nezworski, Buffalo, 213; 13. Tyler Droste, Waterloo, 209; 14. Chad Holladay, Muscatine, 204; 15. Denny Eckrich, Tiffin, 170; 16. Ray Guss Jr., Milan, Ill., 156; 17. Andy Eckrich, Oxford, 152; 18. Jason Rauen, Farley, and Jere­miah Hurst, Dubuque, both 141; 20. Eric Pollard, Peosta, 137.last_img read more