Property strategy is central to surviving slowdown

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EIOPA responds as PensionsEurope echoes common framework fears

first_imgPensionsEurope has called for a “period of legislative calm” in a follow-up position paper on EIOPA’s proposal for a common framework for risk management, with the association saying it was “strongly opposed” to EIOPA’s call for national authorities to take regulatory action based on the common framework tool.The European Insurance and Occupational Pensions Authority (EIOPA) issued its proposal in April.Reactions from the industry in the immediate wake of the announcement were positive about EIOPA’s decision to drop its work on solvency but negative on the proposal for a common framework, to be used for risk assessment and transparency for defined benefit (DB) pension schemes.PensionsEurope issued a brief statement at the time, saying the common framework was “costly” and “unnecessary” and that it would comment in more detail at a later stage.  Since then, the German occupational pensions association, aba, has raised concerns about EIOPA’s proposal, in particular its fear that the supervisory authority could yet make a move that would effectively lead to solvency requirements for Institutions for Occupational Retirement Provision (IORPs) – the frequently made holistic-balance-sheet-through-the-back-door argument.This is based on EIOPA’s having called for national supervisors to be provided with “sufficient powers to act in response to the conclusions of the standardised risk assessment”.PensionsEurope’s latest reaction to EIOPA’s proposal appears to echo aba’s argument.Janwillem Bouma, chair of the European pension fund association, said IORP II, the new EU occupational pensions legislation, “contains a thorough framework for pension funds’ future risk management and assessment” and that IORPs regularly carry out “essential” risk management processes.“Now it is time for a period of legislative calm in order that pension funds can concentrate on delivering adequate, safe and affordable pensions and retirement provisions for their members and beneficiaries,” said Bouma.Matti Leppäla, secretary general of PensionsEurope, welcomed EIOPA’s decision to “refrain” from introducing EU-level harmonised funding or capital requirements, as this would have “significant negative impacts”.He added: “We are therefore strongly opposed to requiring national competent authorities to act upon the results derived from a risk management and transparency tool using the common framework because this would be introducing a holistic balance sheet through the back door.”Leppäla said the IORP II Directive “stresses that the further development at the EU level of solvency models, such as the HBS, is not realistic in practical terms and not effective in terms of costs and benefits, particularly given the diversity of IORPs within and across member states”.This means no quantitative capital requirements should be developed for IORPs at the EU level, he said, noting that they could make employers less willing to provide occupational pension schemes.“PensionsEurope calls for policymakers and EIOPA to respect this,” he said.EIOPA: ‘Further work can be done’Asked whether EIOPA planned to formulate guidelines or rules for Article 29 of IORP II that would bind national authorities to act on the results of a risk management using the common framework, a spokesperson at the authority told IPE it was “convinced” the recommendations it made in its April 2016 opinion paper would “ensure a consistent application of the principle of market-consistency”.“Guidance for establishing the common framework should, as far as possible, be provided at European level,” added the spokesperson.“However, further work can be done to develop additional simplifications and European-wide guidance that facilitate the proportionate application of the common framework.”last_img read more

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Aurora announces new city manager

first_imgAurora, IN—The City of Aurora has announced that Derek Walker, a native of Southeast Indiana will take over the role as the new Aurora City Manager. Walker is a Ball State graduate with a Bachelor’s and Master’s Degree in Urban and Regional Planning and Development and has over four years of experience working in the planning and zoning office for the Dearborn County Government.Walker stated he is grateful for the opportunity to work with Mayor Drury and the City Administration as they work to build upon recent momentum. His focus will be working to make Aurora a place that people enjoy living within and visiting and a place that businesses are able to successfully expand and thrive. Walker can be reached by calling the City’s mainline, 926-1777 or via email at dwalker@aurora.in.us .last_img read more

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Redknapp taking nothing for granted

first_imgQPR manager Harry Redknapp believes his relegation-bound side will find it hard to secure an immediate return to the Barclays Premier League. Redknapp added: “Whatever happens, the Championship is a tough, demanding league and you need players that are ready and willing to play Monday, Tuesday or Wednesday and then Saturday. Every Saturday, then midweek. “You need the right characters if you’re going to get out of the division and that is something that will have to be looked at very carefully.” Asked if he has such characters in the squad, Redknapp said: “Well, some. I think you would have to look and try to bring one or two right types in. They might be in lower divisions but lads that would love the opportunity to come here and play.” Redknapp admits it will be hard to mould the squad as he would like due to the fact QPR will struggle to shift many of the under performing players sitting on large contracts. One thing the Rs boss demands, though, is a new pitch at Loftus Road. “I am not saying we play like Barcelona but that football pitch is not conducive to good football, I don’t care who is in charge,” Redknapp said. “That pitch is the bumpiest, bobbliest – it is a lower third division pitch. The first thing the club need to do, I think, is invest in a new pitch in the summer if you want to produce a team that can play some football.” The west Londoners’ fate was all but confirmed on Saturday as they fell to a 2-0 defeat at home to fellow strugglers Stoke. It leaves QPR 10 points adrift of safety with just four matches remaining and Redknapp conceded they now face an “almost impossible” task. Redknapp will be hoping QPR make a swift return to the top flight but warned promotion from the npower Championship is far from easy. He said. “I think this is a good club but when people say ‘well, they’ll come straight back up next year’, it will be very hard to do that. Don’t kid yourselves.” center_img Press Associationlast_img read more

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Manchester City midfielder Kevin De Bruyne set for 10-week lay-off

first_img De Koster detailed the injuries as a “tear in the ankle and also the lateral (knee) ligaments”. Everton goalkeeper Joel Robles apologised to De Bruyne after the game for attempting to pick the player up as he lay down in pain. The Toffees, though, remain incensed about the manner of their defeat, with Everton captain Phil Jagielka labelling referee Martin Atkinson “a little bit arrogant” in his attitude. Jagielka was unhappy with the response he got when he asked Atkinson why a critical City goal, scored by De Bruyne after Raheem Sterling ran the ball out of play, was allowed to stand. Atkinson and his officials missed the ball crossing the byline before Sterling pulled it back for De Bruyne to put City 2-1 ahead at the Etihad Stadium. Asked if he spoke to the referee, Jagielka said: “I tried to. He told me that my defending was brilliant. So, it is difficult when things start going the wrong way and they become a little bit arrogant – but unfortunately that is the way it goes with some. “If he made a decision wrong or he didn’t see it, that is what happens, but sometimes when you go and speak to people and, in such a big game, get the answers you get it is that little bit more frustrating.” Sterling may get a rough ride from Liverpool fans in the final but he is not concerned. He said: “That is not a big thing on my mind. Obviously it is my ex-team, but it is just another team on the way to get past. “It (the final) is in my home city and it is something I have wanted to do since I was a kid. Nothing is going to stop me from doing it.” Press Association De Bruyne wrote on Twitter: ” Just got back from the specialist. I’ll be out for around 10 weeks. “I’ll work hard on my recovery and hope to be back on the pitch asap. Thank you all for the supportive messages!” City won the second leg 3-1 to take the tie 4-3 on aggregate, with De Bruyne’s appearance ending when the 24-year-old appeared to get his studs caught in the turf and then landed on his knee. He stands to miss both legs of City’s Champions League last-16 clash with Dynamo Kiev, the Wembley clash with Liverpool on February 28 and the Premier League derby against Manchester United on March 20. If the 10-week forecast proves accurate, De Bruyne should be back in contention to feature against his former club Chelsea on April 16. He should also be back in time to play enough football to assure Belgium of his fitness ahead of their Euro 2016 campaign. De Bruyne’s representative Patrick De Koster told Sky Sports News: “Kevin is sad. His dream is to always be playing football. He will miss games like the League Cup final and in the Champions League, which are important. “But he knows they (City) are a good team, that the other players will do what they have to do, and maybe win the game for him, and also that (injuries) is what happens in football.” The Belgian suffered his injury setback late in the Capital One Cup semi-final win over Everton on Wednesday, having come off the bench during the second half and changed the game with a goal and an assist. His efforts helped to set up a trip to Wembley for City next month, when Liverpool await them, but cruelly De Bruyne is set to miss that occasion along with important Champions League, Premier League and FA Cup games. Manchester City midfielder Kevin De Bruyne has announced he faces 10 weeks out of action after damaging his knee and ankle against Everton. last_img read more

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PBSO: Crowd Burglarized West Palm Medical Marijuana Business, Others

first_imgPalm Beach County sheriff’s deputies say they are looking for about 30 people who allegedly burglarized a medical marijuana business in West Palm Beach on June 1.According to authorities, the group broke into Miracle Leaf on Sansbury’s Way.Surveillance video shows dozens of people breaking the windows of the property with a sledge hammer, and then rushing into the store at about 3 a.m.We are living in weird times full of injustices. We hear you and respect peaceful protests, but this will NOT be taken lightly. We’re seeking to identity this group who burglarized this local business and others in your county. #PalmBeachCounty. pic.twitter.com/jMF1AlIsTr— PBSO (@PBCountySheriff) June 9, 2020 Officials believe the same group has committed other burglaries in the area.Anyone with information is asked to contact Palm Beach County CrimeStoppers at (800) 458-TIPS.last_img read more

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Syracuse men’s club ice hockey team amid historic season, building foundation for strong future

first_imgMen’s basketball, football and men’s lacrosse.These three sports have always garnered the most support on Syracuse’s campus. But with the way the SU men’s club ice hockey team has been playing this season, there might be a need to spread the attention to a lesser-known squad.The team is having an outstanding season with a 20-5-2 record, and recently won the university’s first-ever Northeast Collegiate Hockey League regular-season title. By reaching that mark, the Orange clinched a berth to the American Collegiate Hockey Association national championships, also a program first.Nationals are to be held in Delaware this March, featuring the top 20 ACHA Division I men’s club hockey teams in the country. Syracuse will face off against Oakland on March 6 in its first game of the tournament.As a club sport, not a lot of attention has been given to the team, but its historic accomplishments have certainly warranted some.AdvertisementThis is placeholder text“We feel like we deserve more attention,” said head coach Nick Pierandri. “We have some really good hockey players and they’ve played absolutely phenomenal this year.”The team has been hungry as a result of its success.Senior captain Russell Suskind said the team has played with a chip on its shoulder all year long and has always been striving to play better. The hockey team has felt that despite its relatively new emergence as a contender, the Orange is for real.And senior Niall Harding, one of the team’s three captains, likes his team’s odds against anyone.“Not a lot of people respect us because of our regular-season schedule and we’re not high in the rankings,” said Harding. “Still, I know we have serious potential to go deep into the tournament.”At one point, reaching the national tournament may have been unrealistic. The program has improved drastically throughout the past few years, to the point where a berth to the tournament is now a reality.Harding attributes the team’s historic success this season to the addition of Pierandri in this past offseason.“Coach P harnesses our talent and puts it into a system so we’re more effective as a team,” said Harding. “We’re small and fast, so he works to our strengths. He teaches us situational play, something we didn’t have as much emphasis on before. He keeps us motivated, disciplined and focused.”The emphasis on focus and motivation has been in place from the moment Pierandri took the helm this season.“I came in and helped them realize their potential,” the head coach said. “The talent has been here all along, but it took some buying into a system.”The Orange hopes that this season’s success will continue, and in turn, help pave the road for a bright future for the program. The season has started to catch the attention in small hockey circles around the country, and many people are beginning to take Syracuse seriously as a hockey destination.Pierandri said that he felt like the team’s success has been a major factor in convincing some very good hockey players to forgo playing for a Division III school, and instead choose to lace up the skates for Syracuse.This season has already been wildly successful, but the team is not done yet. What was once a pipe dream is now a reality as it looks forward to the league playoffs, the national tournament and beyond.“To see where the program was four years ago, where it is right now, and then looking ahead is something else,” said Suskind. “Syracuse hockey is going to be a force for a long time.” Comments Published on February 26, 2014 at 11:13 am Contact Liam: lpsull01@syr.edu Facebook Twitter Google+last_img read more

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Dougherty: Solidified quarterback spot puts Syracuse on better starting foot than last year

first_imgA year ago, as Syracuse geared up to face Penn State, it didn’t have a starting quarterback. Just two contenders — Terrel Hunt and Oklahoma transfer Drew Allen — fighting for the season’s first snap and all that would follow.Previous quarterback Ryan Nassib hardly had stains on his New York Giants jersey at training camp, yet the three-year starter felt much further away. There was no stability in a position expected to embody it.“Last year I was thinking, ‘Man, am I going to get pulled? Who’s going to start?’” Hunt, SU’s starting quarterback, said in a video on Cuse.com at the start of training camp. “So now I’m actually going in more relaxed.”To this point, Hunt’s earned that right. A year removed from fighting for his job, it’s easy to forget that Allen won it before Hunt finally and forever replaced him within a month. But what isn’t hard to notice is the stark difference between the weeks leading into Penn State and the buildup SU currently wades through.Syracuse opens the season against Villanova at 7:30 p.m. in the Carrier Dome on Friday, and there are still question marks on both sides of the ball. Its quarterback isn’t one of them, which is settling to say the least.AdvertisementThis is placeholder text“It’s not like competing with Drew was bad,” Hunt said. “I learned a lot from that and it made me a better player, but going in knowing I’m going to be the starter is nice. And it’s better for the team to know who is going to lead them Week 1 — me or anyone else.”Hunt always draws a crowd at interview sessions. When you’re a starting quarterback in the Atlantic Coast Conference, it comes with the territory — but the questions have expectedly changed.It was always easy to locate Hunt, Allen and quarterbacks coach Tim Lester the week before the Orange traveled to face the Nittany Lions at MetLife Stadium. They’d each be at the center of a crowd, with everyone holding a recorder or camera in one hand and a softball in the other.Now Hunt talks about the coming season and the offense he’s set to lead, and the only competition he’s asked about is between Austin Wilson, Mitch Kimble and AJ Long. Those guys are fighting for the backup quarterback spot.“I think there’s always a sense of calm when you know that signal caller, how he is in the huddle or how he is in on the sidelines or how he is adjusting to things,” Syracuse head coach Scott Shafer said during training camp. “So I think there’s a lot of comfort with those players that are back that have played with him.”Shafer doesn’t have to learn Hunt’s snap count or play-calling cadence, but he seems just as comfortable. When addressing Villanova in the Syracuse team room at the Petty-Iacolano Football Wing on Saturday, he didn’t once mention “Hunt,” “Terrel” or “quarterback,” pertaining to his team.In all, the team’s preseason rhetoric has taken a 180-degree turn. Shafer mentioned the Wildcats’ John Robertson as a dual-threat quarterback that the Orange is heavily preparing for. As far as his depth chart, he said he wants to have a good idea of what it will look like by Tuesday — with decisions kept in-house before they’re unveiled with Friday’s kickoff.But Hunt’s penciled in and that’s not as mundane as it may seem. On the heels of a competition that consumed the first third of last season, the lack of one has this year’s Orange on a more convincing track.“Terrel established himself as a leader toward the middle and definitely at the end of last season,” offensive coordinator George McDonald said. “It’s not like a new phenomenon like, ‘Terrel’s the leader.’ He showed it, he earned, and the (offense has) continued to grow.”Jesse Dougherty is the sports editor at The Daily Orange where his column appears occasionally. He can be reached at jcdoug01@syr.edu or on Twitter at @dougherty_jesse. Comments Published on August 25, 2014 at 2:00 am Facebook Twitter Google+last_img read more

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Trapattoni leaves as Republic of Ireland manager

first_imgGiovanni Trapattoni has left the Republic of Ireland by mutual consent following Tuesday’s defeat by Austria in a World Cup qualifier.The Football Association of Ireland announced his departure on Wednesday after a meeting with Trapattoni and assistant boss Marco Tardelli.The pair had been contracted until the end of May 2014.In his five years in charge, Trapattoni guided the Republic to the finals of Euro 2012.The 1-0 defeat in Austria left Ireland with only a mathematical possibility of overhauling Sweden to snatch second place in Group C.“I want to thank everyone in Ireland who has given us their support during our time here, which has always meant a lot to us,” said Trapattoni.“We leave this country with emotion because we understand the Irish supporters who have a well-deserved international reputation and they have our utmost respect.” Immediately after Tuesday’s game in Vienna, the 74-year-old Italian had said he would wait for the FAI to decide on his future.The verdict came the following morning with a statement announcing the manager’s departure by mutual consent.Trapattoni’s scheduled post-match news conference on Wednesday had already been cancelled by that point, a move which heightened speculation that his departure was imminent.Speaking immediately after Tuesday’s game, Republic captain Robbie Keane paid tribute to Trapattoni’s efforts with the country.“It is very difficult for a player just coming off a result and speaking about a manager who has done very, very well for this country,” said an emotional Keane. “He has been a credit to his country and he has carried himself the way a man of his stature should. ”Keane added there needed to be a “realism” about the Republic’s capability at international level.“We’re a small nation and I think people get carried away sometimes and expect us to qualify all the time,” he said.last_img read more

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Clippers-Lakers game Monday comes with motivation aplenty

first_imgHe said he’ll always have fond feelings for his former teammates, who have lost seven of their past 10 games after falling again last-place Phoenix on Saturday.“They are my guys, they will always be my friends and it’s tough to see them lose,” Zubac said. “But them losing is good for us, so that’s how it works.”MBAH A MOUTE’S STATUS Clippers hope they can play to their capabilities, quell Mavericks’ momentum For Lakers’ LeBron James, Jacob Blake’s shooting is bigger issue than a big Game 4 victory Kristaps Porzingis ruled out as Clippers, Mavericks set for Game 5; Follow for game updates Clippers vs. Mavericks Game 5 playoff updates from NBA beat reporters “We’ve been going at it every practice when I was there,” said Zubac, who is averaging 8.6 points, 7.7 rebounds and shooting 44.8 percent from the field and 70.8 percent from the foul line. “I know how to play against them, I know how to make them work and I’ll be just happy to play the Lakers for the first time in my career.“I’ve been watching almost every game,” Zubac continued. “I feel like every time I watch them, I’m like, ‘If I was there, I would help them. I would definitely make a difference on the floor,’ you know? But they’re not my team anymore.”Related Articlescenter_img LOS ANGELES — Former Laker Ivica Zubac expects full well that his former teammates will be motivated when they meet his new team Monday — it’s crunchtime in the playoff race and the seventh-place Clippers lead the 10th-place Lakers in the Western Conference standings.After being part of the first trade between the franchises since 1983, when the teams exchanged packages that brought Norm Nixon to the (then-San Diego) Clippers and sent Byron Scott to the Lakers, Zubac said he’ll be ready to go, too.“I can’t wait; I’m motivated,” the 21-year-old starting center said. “They’re a dangerous team, they’re fighting for playoffs and this is a big game, one of the biggest games of the season for them, so we gotta come out ready, focused. We gotta play smart, we gotta know what we want to do, take away their things and we’ll be good.”Zubac said he’ll use what he learned in practices against his former team, whose games he’s regularly tuned in to watch since the trade, which sent Mike Muscala (who was acquired two days earlier from Philadelphia as part of the deal for Tobias Harris) to the Lakers for Zubac and Michael Beasley, who was waived. What the Clippers are saying the day after Luka Doncic’s game-winner tied series, 2-2 Coach Doc Rivers said it was news to him that Luc Mbah a Moute’s status on the team’s injury report was upgraded Saturday from a definite “out” to less-definite “questionable.” But he called the development “fantastic.”Mbah a Moute has missed 61 consecutive games — including Sunday’s victory over the Knicks — with what’s been categorized as a “sore knee.”Rivers said he welcomes his return, when and if it comes, though he’ll temper his expectations.“Obviously, even when he can play, he can’t play a lot, he’s not played all year,” Rivers said. “So my guess is he’ll have a very low-minute thing. But you can always put him in to guard someone, Luc can do that anytime. And we need him down the stretch, so it would be great to get him back.“He’s been in zero practices,” Rivers added, noting that Mbah a Moute has worked with assistant coaches recently. “He proved that he can stop (assistant) Sam (Cassell). And Sam thinks that’s a good sign. Sam thinks he can still score right now in the NBA.” Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

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