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The Basel Committee lacks credibility on credit unions

first_img 70SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Michael Edwards Michael S. Edwards is the Vice President for Advocacy and General Counsel of World Council of Credit Unions. Michael directs World Council’s Advocacy Department in Washington, DC and represents the … Web: Details The Basel Committee on Banking Supervision, which is headquartered at the Bank for International Settlements in Basel, Switzerland, calls itself “the primary global standard-setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters.” Many countries around the world have adopted Basel Committee standards for banks, and sometimes also for credit unions, because of the Committee’s supposed expertise regarding banking regulation.  Although credit union supervisors like the National Credit Union Administration (NCUA) have occasionally looked to Basel standards to inspire their credit union rules—such as NCUA’s Basel III-derived “Risk-Based Capital 2” (RBC2) regulation, for example—until recently the Basel Committee had never issued guidance targeted at credit unions specifically.That changed a few months ago: In a recent proposal, Guidance on the Application of the Core Principles for Effective Banking Supervision to the Regulation and Supervision of Institutions Relevant to Financial Inclusion, the Basel Committee had a lot to say about credit unions.  Unfortunately, despite years of outreach, meetings and written comments to the Committee by World Council of Credit Unions (World Council), many of the Committee’s proposed statements betray a fundamental lack of knowledge and understanding about credit unions.  World Council submitted detailed comments in response to this proposal and we and our member associations continue to advocate for the Committee to retract its inaccurate claims about credit unions.  Whether or not the Basel Committee revises these statements in the final version of the guidance, however, credit unions and their regulators should take this opportunity to understand how little expertise the Basel Committee really has on the subject of credit union regulation.As a threshold matter, the Basel Committee proposal seeks to define credit unions as “non-bank” financial institutions rather than as depository institutions.  “Non-bank” is a term that the World Bank, the Federal Financial Institutions Examination Council (FFIEC), the European Commission and others define as applying only to non-depository financial institutions like insurance companies, securities broker-dealers, mortgage companies, pawnbrokers, hedge funds and shadow banking institutions.  But according to the Basel Committee’s logic, a credit union is not a “bank” so therefore it is a “non-bank.”  The proposal also states that, in general, non-banks should not be permitted to accept deposits.In addition, the Basel Committee proposes that credit unions should be prohibited from accepting new members if they are not well capitalized: “Financial cooperatives may also require specific corrective and sanctioning actions, due to their membership-based structure . . . For instance, the supervisor may consider restricting new membership in financial cooperatives during the implementation of a corrective measure . . .”  In reality, restricting new membership for credit unions during implementation of corrective measures like a Net Worth Restoration Plan would be self-defeating because it could cause a run on the institution and would diminish the ability of the credit union to raise new capital in the form of retained earnings.The Basel Committee’s proposal also makes claims about credit union corporate governance that ignore similar problems at banks and are not consistent with credit unions’ legal and regulatory structure.  Specifically, the Basel Committee proposal states that “certain weaknesses in the Board structure and functioning are more common in financial cooperatives and microlending institutions than in banks . . . In small institutions, the chief executive is often also chair of the Board and it is not uncommon for the internal auditor to lack independence.  Governance in financial cooperatives poses additional challenges given their membership-based structure, which gives room for conflicts of interest that may lead to poor oversight, excessive risk-taking and frauds.”Many joint-stock banks, large and small, have suffered extensively from “poor oversight, excessive risk-taking and frauds” and, contrary to the Basel Committee’s claims, credit unions generally have a lower-risk and less-complex business model than similarly sized banks.  Unlike large banks such as Bank of America, at a credit union the CEO and board chairman roles are rarely combined because of the Federal Credit Union Act’s legal requirement (and similar requirements in other credit union acts) that only one board member can be compensated as an officer of the credit union.  At credit unions the internal audit function is typically performed by the member-elected Supervisory Committee, and the Supervisory Committee is not only independent of management but, unlike a bank’s internal auditor, also has legal authority to suspend the credit union’s officers and board members.So if the Basel Committee is completely misinformed about credit unions, why are NCUA and other agencies adopting Basel-inspired regulations like the RBC2 rules?  The Basel Committee’s credibility as a standard setting body is premised on its supposed technocratic expertise.  Yet, based on this proposal, the Basel Committee has little understanding of the credit union model.  The credit union movement should remember the Basel Committee’s inaccurate claims about credit unions the next time that regulators want to import financial rules from Switzerland . . . watches or cheese would be better choices.last_img read more

People moves: Ex-ATP manager to lead Denmark’s Norli Pension

first_imgATP, Norli Pension, BMO GAM, Northern LGPS, TPT Retirement Solutions, CEPB, Achmea IM, Mercer, MN, Transition Pathway Initiative, Jupiter, Hermes, RAM AINorli Pension – Mads Smith Hansen, who quit his job as a member of ATP’s top management team last summer, has been appointed the new chief executive of Norli Pension, a Danish pension company owned by Nordic Insurance Consolidation Group that specialises in traditional guaranteed average-yield pensions.At ATP, Smith Hansen was chief risk officer. In August 2018, the pension fund announced he had decided to leave the fund to take a career break, and he was replaced by Kim Kehlet Johansen from SEB Pension. At Norli Pension, Smith Hansen is taking over on 1 Febuary as chief executive from Henrik Bernhardt, who will be moving to the company’s supervisory board. BMO Global Asset Management (BMO GAM) – Kristi Mitchem is to replace Richard Wilson as CEO of the €217bn asset manager as of the middle of next month. She is currently CEO at Wells Fargo and head of its asset management business.Mitchem has also worked at State Street Corporation, BlackRock and Goldman Sachs. BMO said she had been an advocate for diversity and inclusion throughout her career. Wilson has been CEO since 2014 and had chosen to retire, the firm said.Northern LGPS  – Paul Doughty is the new chair of the collaboration of three local government pension schemes (LGPS) from northern England, formerly known as the Northern Pool. He replaces Ian Greenwood, the former chair of the West Yorkshire Pension Fund, who died after a short illness in November. Doughty chairs the Merseyside Pension Fund, one of Northern LGPS’s member funds, and the Local Authority Pension Fund Forum, which represents 79 funds in the LGPS with assets over £200bn. The £45bn Northern LGPS combines the assets of the Merseyside, Greater Manchester and West Yorkshire LGPS funds.  Doughty said: “It’s a real privilege to be asked to take up this role. Both Ian and his predecessor, Kieran Quinn, brought tremendous energy and commitment to this role and to the honourable aim of ensuring council workers enjoy a decent and dignified retirement.”TPT Retirement Solutions – The UK master trust has named Richard Giles as head of strategic partnerships, a new role intended to support TPT’s strategy to be the country’s leading defined benefit pensions consolidator. Giles joins TPT from PwC where he worked for the last 11 years, latterly as partner, actuary and head of pension advisory services for the northern regions. Church of England Pensions Board – The £2.5bn pension investor has hired Stephen Barrie for the newly created role of deputy director of ethics and engagement. The move follows the appointment of Adam Matthews as director of ethics and engagement in May. Barrie was previously acting secretary of the Church’s ethical investment advisory group, which he will continue to support while a successor is appointed. Achmea IM – The €130bn asset manager has appointed Leen Meijaard as chairman of it supervisory board (RvC) as of 21 January. He succeeds Erik van Houwelingen, who left following his appointment as head of European sales at the €455bn asset manager Dimensional last year.Between 2002 and 2017 Meijaard worked at BlackRock, where he was executive chair for the Benelux region and member of the executive committee for Europe, the Middle East and Asia. He also chairs the RvC of Dutch football club Ajax. Last year, Meijaard was appointed senior adviser at investment manager Neuberger Berman.Mercer – Herwig Kinzler will leave the consultancy’s Germany business in February. A well-known German pensions expert, he joined Mercer in 2003, building the investment consulting business in the subsequent years and becoming partner and CIO. Before joining Mercer he was head of asset consulting services for Germany at Towers Perrin – now Willis Towers Watson.Achim Lüder, CEO of Mercer in Germany, said Kinzler had developed many important client relationships over the years and significantly contributed to the business’s success. MN – Jurgen Stegmann has been appointed a member of the supervisory board (RvC) of MN, the €130bn asset manager and pensions provider for the large Dutch metal schemes PMT and PME. He succeeds Johan van der Ende, and is to focus on asset management, finance and risk management.Stegmann was chief finance and risk officer at Robeco from 2011 to 2015 and has been on the RvC of ABN Amro, housing corporation Woonstad Rotterdam and building firm Janssen de Jong Groep since 2005. He has also been a member of the executive board of Fortis Bank Nederland and CRO and executive vice chair at merchant bank NIBC in The Hague.Transition Pathway Initiative (TPI) – Nadine Viel Lamare, formerly head of sustainable value creation at Swedish pension buffer fund AP1, has been appointed to the newly created role of director of the TPI, an asset-owner-developed tool to assess companies’ preparedness for the transition to a low carbon economy.In the role, which is part-time, Viel Lamare will be responsible for the ongoing development and expansion of TPI. She left AP1 at the end of 2018 and represented the buffer fund on the TPI steering committee.Jupiter Asset Management – Maarten Slendebroek is stepping down as chief executive of the UK-based asset manager in March, and will be replaced by Andrew Formica, the former co-CEO of Janus Henderson Group.The plan had been for Slendebroek to step down at a later date, but the company said it had accelerated its succession plans in light of Formica’s availability “at this point in time”.Formica was chief executive of Henderson Group between 2008 and its merger with Janus Capital in 2017, and co-CEO of the merged group alongside Dick Weil until Weil was made sole CEO last year. Formica remained with the company in an advisory role until the end of 2018. Slendebroek was appointed Jupiter CEO in 2014, and in a statement the company’s chairwoman, Liz Airey, hailed him as “the driving force” behind its diversification strategy. Hermes Investment Management – Carina Spitzkopf has been appointed a member of the £36bn asset manager’s global fixed income team as a director for private debt. Before joining Hermes, Spitzkopf was a director for UBS, where she covered leverage finance risk and portfolio management of the firm’s leveraged loan book in the EMEA region.The asset manager’s stewardship and engagement team, Hermes EOS, also has a new addition. Kimberley Lewis has been appointed engagement director, focusing on enhancing the activities of Hermes EOS in North America and with a sector focus on the pharmaceutical industry.Lewis was previously at Pfizer where she led the global corporate responsibility and social investment team. A US-qualified attorney, she has also served as counsel for a US senator and as a federal lobbyist. RAM Active Investments – The Swiss alternatives manager hired Tony Guida and Nicolas Mirjolet to its systematic research team. Guida joins from RPMI Railpen, where he was a senior quantitative portfolio manager. He has also worked at EDHEC Risk Scientific Beta and Unigestion, and is editor-in-chief of the Journal of Machine Learning in Finance.Mirjolet was previously CIO at Tolomeo Capital, a specialist systematic asset manager he co-founded in 2011. He has also worked for Swissquant and a family office in Zurich.last_img read more

Christmas comes early for GKinetic with Oz patent approval

first_imgIrish tidal energy developer GKinetic Energy has been granted patent protection in Australia for its ‘Power Generating Water Turbine Assembly’.This is another significant milestone in the company’s commercialization plans, as the the patent refers to a key knowledge item for the technology – the bluff body, said GKinetic.The GKinetic technology’s bluff body is a tear drop shaped vessel placed in between two vertical axis turbines.The shape of the vessel speeds up the natural flow of water into the turbines. The design, combined with the patented Blade Pitch Control System, results in higher power outputs for end users, according to GKinetic.GKinetic’s tear drop shape vessel concept (Image: GKinetic Energy)The technology is being developed in a step by step collaborative approach by working with industry and academic partners on various different projects. The patent grant from Australia represents a major step in further developing the technology closer to commercialization, said GKinetic.The company’s strategic partner DesignPro Renewables recently deployed its 25kW device at the SEENEOH test site in Bordeaux, France, as part of the Horizon 2020-funded project.In addition, GKinetic is currently consortium partners in the Horizon 2020 funded +CityxChange project to make Limerick, Ireland and Trondheim, Norway smart cities which could potentially see the first grid connected tidal turbine in Ireland.The goal of this project is to have the smart city model replicated in other locations across Europe and potentially around the globe.last_img read more

Santos in talks to farm out Beehive stake ahead of farm-in

first_imgAustralian oil and gas company Santos is in talks with potential partners to farm-out a share in the permit offshore Australia containing the Beehive prospect. The offshore permit is currently fully owned by Melbana.Santos has an agreement with Melbana to acquire an 80 percent interest in the permit, in return for paying for the full cost of the Beehive-1 well drilling.Melbana on Monday said Santos had “validly and conditionally” exercised its option to acquire the 80 pct stake. The deal is conditional on Santos finding a partner to take a share of Santos’ 80 pct. The Beehive prospect is estimated to have 388 million barrels of oil equivalent of prospective resources.Melbana said Wednesday: “…It has been agreed that Santos is not required to submit an application for the transfer of an interest in the permit until it has successfully concluded a farm out for some of its right to acquire that interest.”Santos had previously exercised an option to acquire a 40 interest, however, France’s Total, which also had an option to farm-in, decided not to proceed with the acquisition. This caused Santos’ option to be modified in a way that it is now able to acquire an 80 percent interest in the permit.No drilling for at least a yearAccording to Melbana’s statement on Wednesday, Santos has also indicated that the work it has done on identifying rig availability suggests the drilling of the Beehive-1 exploration well would possibly not occur prior to the end of the current Permit year (December 2020).“As such, an application for an extension to the current Permit year should be made subsequent to Santos successfully farming out some of its participating interest in the Permit,” Melbana said. Melbana has given Santos until March 4, 2020, to complete a farm down of its right to acquire an 80% interest in the Permit.If the farm-down is successful, the parties would then work to secure the necessary extension to the current Permit year to align the drilling of the Beehive-1 well with rig availability, Melbana said.Melbana Chairman, Andrew Purcell, said: “Santos’ decision to farm down its large equity interest in Beehive is entirely consistent with its recently stated strategy of optimizing its portfolio through acquisitions, disposals, and farm-outs, particularly in northern Australia where it is working to reduce its equity in the Barossa field and Darwin LNG to 50% or less.“We’re pleased to continue to work cooperatively with Santos given the commitment they’ve shown to Beehive – a prospect with 388 million barrels of oil equivalent of prospective resource (best estimate) and potentially 1.6 billion barrels of oil equivalent of prospective resource (high estimate) which, if proven, would prove transformative for each of our companies and for northern Australia. This variation to our agreement with Santos takes us a critical step closer to drilling the largest undrilled structure in Australia.”If Santos fails to secure a partner by March 4, 2020, or if it is not possible to subsequently extend the Permit Year, Melbana would retain a 100% interest in the Permit.Also, Melbana said that Santos has agreed to complete (at its expense) an application for an environmental permit (EP) for the drilling of the Beehive-1 exploration well.“This commitment by Santos to producing an EP, along with its identification of a firm rig slot for drilling the well, should assist with the application for any extension request to the current Permit year. Melbana would remain free carried for its 20% interest in this exploration well should the above conditions be satisfied and the option exercise becomes unconditional,” Melbana said.Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.Also, if you’re interested in showcasing your company, product, or technology on Offshore Energy Today, please contact us via our advertising form, where you can also see our media kit.last_img read more

David Rudisha closer to returning to action with 3rd Olympic dream

first_imgNairobi: World 800m record holder David Rudisha has called for patience as he cautiously works his way back to action after three years of absence due to injury.Rudisha has been changing projected return dates for over 18 months. After his injury in 2017, he said he planned to return to action in June 2018, then he pushed it to December and later said August last year was possible.But for the first time, there is a ray of hope the 30-year-old may have run off his fitness problems and will be back on the road to competition, reports Xinhua news agency.”I have always had a nagging injury, every time I try to push myself to a certain level, I start feeling some pain,” Rudisha said on Monday.The Olympic champion has for long suffered an upper hamstring muscle, a similar problem that saw him miss out defending his crown at the 2013 World Championships in Moscow.Although Rudisha has reduced the number of visits to the doctors, in Kenya and the Netherlands, he can now start dreaming of returning to competition, and not necessarily getting to the fitness level for him to imagine clinching a third gold at the Tokyo Olympics.”I don’t want to go back to competition with the attitude that I am invincible David Rudisha. That I can do it just like I did it in the 2012 season. No. With that mentality, I could easily pick up another problem. I have to go slow like a beginner,” Rudisha assessed his chances. IANSAlso Read: UWW mulls solutions to Wrestling Asian Olympic qualifierAlso Watch: Swearing-in Ceremony of Pallav Bhattacharyya as new Chairman of APSC held todaylast_img read more

USC looks to avenge last season’s upset

first_imgPete Carroll remembers the second-to-last time his team lost. How could he forget it?It was only 13 months ago that USC was stunned on a sleepy Thursday night in September by an Oregon State team that jumped all over the Trojans from the outset. Coming off a big win against Ohio State, the Trojans saw their national title hopes dashed when they couldn’t complete a comeback at Reser Stadium and lost, 27-21.Second crack · Last season, Fili Moala (75) and the USC defense allowed Oregon State running back Jacquizz Rodgers to break out for 186 yards. The 2009 Trojans will be keying directly on the 5-foot-7 runner who caught them off guard in 2008. – Leah Thompson | Daily TrojanAlthough the Beavers have taken two of the last three contests against the Trojans, Oregon State has not won in the Coliseum since 1960. USC will look to keep that streak alive Saturday when it takes on a surging Oregon State team at 5 p.m. at the Coliseum to push into the second half of the season.“We’ve been road warriors and out and about,” Carroll said. “We’ve had a great time on the trips, and we’ve grown from it. It’s wonderful to be back and playing in front of our home crowd.”Four of the Trojans’ last six games are at home, a welcome return for a road-weary squad. A sellout crowd is expected for the first time in the Coliseum this season for the highly anticipated revenge match.Oregon State has given USC more trouble than any other team in the Pac-10 and is the only conference foe to have multiple victories against the Trojans since 2002. Carroll credited Oregon State coach Mike Riley for being well-prepared and jumping ahead of the Trojans early in games.“They’ve been really effective against us on both sides of the ball,” Carroll said. “They’ve been able to give us problems, and they’ve had good fortune at their place two of the three times.Last year’s game served as the national introduction to Oregon State running back Jacquizz Rodgers. Then only a freshman, the 5-foot-7 Rodgers repeatedly slipped through the arms of USC tacklers to keep the Beavers’ offense moving downfield. The tailback finished the evening with 186 yards and two touchdowns on 36 carries against a defense that Carroll said might have been his best by season’s end.After being held to less than 100 yards rushing in each of his previous three games, Rodgers broke out in his last game against Stanford for 189 yards and four touchdowns.“He’s the style of runner that really demands it of your defense,” Carroll said. “You give him a crack, he can take it. If you make a mistake, he’s going to take advantage of it.”But the diminutive Rodgers won’t be anonymous to USC coming into Saturday’s game. Despite having to replace a bulk of its starters, the Trojans are fourth in the nation in rushing defense, giving up less than 68 yards per game.With USC’s defense also leading the country in sacks, Riley pointed out that stopping the Trojans at the line of scrimmage will be essential for his team.“I’m very impressed with their front — they don’t give people many breaks,” Riley said. “They’re high-energy and really hard to block, and that’s going to be a key factor in the game.”Saturday’s game will also be an opportunity for retribution for Oregon State quarterback Sean Canfield, who tore cartilage in his throwing shoulder in the 2007 game in Los Angeles. Canfield was trying to slide after a scramble but was hit by then-sophomore USC safety Will Harris and had to sit out for the remainder of the season.After serving as a backup to Lyle Moevao in 2008, Canfield is taking advantage of his senior season by completing 68 percent of his passes en route to becoming one of the conference’s established veterans.Earlier in the week, Canfield said that despite Oregon State’s recent success against USC, the Beavers know they will be facing an uphill battle on Saturday.“We don’t back down, we’re in attack mode just like every other team we’ve faced,” he said. “I think considering that we’ve taken them down twice in the last three years, they’re going to want to win.”last_img read more

World Series Game 3 Highlights: Dodgers win after 18 innings against Red Sox

first_imgIt’s been that kind of night against @buehlersdayoff.— MLB (@MLB) October 27, 2018 First inning:Buehler is all business for the Dodgers in Game 3 of the World Series.99 mph? Can’t touch this.— Los Angeles Dodgers (@Dodgers) October 27, 2018 Dodgers’ Max Muncy trying to work his way out of slow start How Dodgers pitcher Ross Stripling topped the baseball podcast empire Ice in his veins. #WorldSeries— Los Angeles Dodgers (@Dodgers) October 27, 2018 #Dodgers Walker Buehler struck out #RedSox JD Martinez to end his 7th scoreless inning. Last 14 Sox have been retired in order, 5 by K— Bill Plunkett (@billplunkettocr) October 27, 2018 Bill Nye is impressed— Stacie Wheeler📏 (@StacieMWheeler) October 27, 2018 This is fine.— Los Angeles Dodgers (@Dodgers) October 27, 2018Related Articles Hosed. 😱— MLB (@MLB) October 27, 2018 Fire danger is on Dave Roberts’ mind as Dodgers head to San Francisco Check back throughout the night for highlights of World Series Game 3 between the Los Angeles Dodgers and the Boston Red Sox.Before the Walker Buehler took the mound as the Dodgers’ starting pitcher, Tommy Lasorda threw out the first pitch. Take a look at how people reacted on Twitter to Max Muncy’s home run that provided the #Dodgers with its first win of the #WorldSeries against the #RedSox.— James H. Williams (@JHWreporter) October 27, 2018 Are you serious, JBJ?! 😱😱#WorldSeries— MLB (@MLB) October 27, 2018Tenth inning:Run on @Cody_Bellinger?YOU THOUGHT. #WorldSeries— Los Angeles Dodgers (@Dodgers) October 27, 2018center_img Sixth inning:All walk, no talk.Six scoreless in a #WorldSeries game? No big deal.— MLB (@MLB) October 27, 2018 Not. Even. Close. BUD. #WorldSeries— MLB GIFS (@MLBGIFs) October 27, 2018Thirteenth inning:Baseball. #WorldSeries— Los Angeles Dodgers (@Dodgers) October 27, 2018Fifteenth inning:After passing the 5-hour, 41-minute mark, this is now the longest #WorldSeries game in history.— MLB Stat of the Day (@MLBStatoftheDay) October 27, 2018Eighteenth inning:Seven hours and 20 minutes later, Max calls game. #WALKOFF— MLB (@MLB) October 27, 2018 Dodgers hit seven home runs, sweep Colorado Rockies FINAL TALLY561 pitches:Buehler 108Eovaldi 97Porcello 61 Maeda 36 Jansen 32 Floro 29 Kimbrel 28 Baez 26 Hembree 25 Barnes 23 Alexander 19 Brasier 18 Wood 15Price 13 Kelly 12 Urías 11Rodriguez 6 Madson 2— J.P. Hoornstra (@jphoornstra) October 27, 2018 Walker Buehler: 7 shutout innings, 7 strikeouts, 108 pitches, a career high. He is exhorting Dodger Stadium to stand up by waving his arms, and the fans are heeding the call.— J.P. Hoornstra (@jphoornstra) October 27, 2018 It only lasted for ~5 minutes before deletion, but here’s the tweet where Fox Sports seemingly confused Sandy Koufax with Bill Nye.— Kevin Slane (@kslane) October 27, 2018 Seventh inning:Big-game Buehler. #WorldSeries— MLB (@MLB) October 27, 2018 Eighth inning:Jackie Bradley gets it to 2-0 and buries a HR to rightfield in the 8th. 1-1.— Mark Whicker (@MWhicker03LANG) October 27, 2018 Cody Bellinger homer gives Dodgers their first walkoff win of season Third inning:Joc Pederson hits a first-pitch changeup for a right field homer to give the Dodgers a 1-0 lead over the Red Sox.Welcome to Joctober. #WorldSeries— MLB (@MLB) October 27, 2018 Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Points standing

first_imgPoints standingP W D L GF GA GD Pts1. Leicester 28 16 9 3 51 31 20 572. Tottenham 28 15 9 4 49 22 27 543. Arsenal 28 15 6 7 44 28 6 514. Man City 27 14 5 8 48 31 17 475. Man United 28 13 8 7 37 26 11 476. West Ham 28 12 10 6 42 31 11 467. Stoke City 28 12 6 10 30 33 -3 428. Liverpool 27 11 8 8 41 36 5 419. Southampton 28 11 7 10 35 28 7 4010. Chelsea 28 10 9 9 42 38 4 3911. Everton 27 9 11 7 49 36 13 3812. Watford 28 10 7 11 29 29 0 3713. West Brom 28 9 9 10 29 36 -7 3614. Crystal Palace 28 9 6 13 31 37 -6 3315. Bournemouth 28 8 8 12 32 44 -12 3216. Swansea City 28 7 9 12 27 37 -10 3017. Sunderland 28 6 6 16 34 53 -19 2418. Norwich City 28 6 6 16 31 53 -22 2419. Newcastle United 27 6 6 15 27 50 -23 2420. Aston Villa 28 3 7 18 22 51 -29 16last_img read more


first_imgAs we continue the dialogue among peace messengers on women in power, the dialogue took a different dimension when a young volunteer peace messenger mentioned that the issue should not only be centered on women in power, and that ongoing dialogues should include women in development.We were all taken aback when the young volunteer peace messenger elaborated her point to define women in development as younger women aspiring to higher positions of power.Wikipedia defined women in development (WID as it is commonly known) as an approach to development projects that emerged in the 1970s, calling for treatment of women’s issues in development projects. It went on to state that it is the integration of women into national or global economies by improving their statuses and assisting in total development.Over the years and in recent memories, more Liberian women have become direct beneficiaries and recipients of development projects, and few women in power or in leadership positions are involved in providing assistance to other women.With growing awareness of women’s issues, there is an urgent need for younger women to position themselves for leadership. We can no longer rely on women in power to dictate our development; we need to prepare ourselves to take advantage of the programs provided by professional women’s groups operating in Liberia and abroad.Women in power could make a powerful difference in their respective fields through supporting women in development. If one woman in power could inspire other women, a huge difference would be made in the lives of women.Young women would continue to look up to women in power for inspiration. To draw from the stream of knowledge and wealth, young women in Liberia would require moral and economic transformation. We need to put in place certain values of trust in ourselves and in others.We need discipline in the soul. It takes a small group of women to empower others because, according to George Washington, ‘discipline makes small formidable; procures success to the weak and esteem to all.’A principled uprightness of character and personal commitment to deeply held ethical principles are core and essential requirements for women in development to moving forward and to make things right.At Messengers of Peace (MOP)-Liberia, we are deeply committed to serving other women and to promoting the meaningful involvement and active participation of younger women in peace and security matters. We are proactively communicating and engaging the services of women in power.MOP-Liberia believes in collaborating and partnering with others through full transparency and putting the interest of young people first. Our focus is on accountability for the peace programs that we undertake and we encourage everyone, especially women in power, to join us.As we work diligently to recover from decades of discrimination against women in development, it is encumbered on women in power to support other women regardless of their color, creed and faith.Until next week when we come to you with part four of our series on women in power, let peace be your ‘watch work,’ peace first, peace above all else. May peace prevail on earth!Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Kasper Schmeichel warned over Leicester starting spot

first_img1 Leicester City manager Nigel Pearson insists January signing Mark Schwarzer has not fallen down the pecking order now Kasper Schmeichel is fully fit.Schwarzer was signed from Chelsea after first-choice Foxes stopper Schmeichel suffered a broken metatarsal during the busy Christmas period.The Danish son of Manchester United hero Peter is now back in action and reclaimed his spot in the first XI at Schwarzer’s expense for the 4-3 defeat to Tottenham at the weekend.“It was a difficult decision to leave Mark Schwarzer out to be honest, because I think he’s been very, very good,” Pearson said.“It’s not a case of Kasper’s back in and he’s an automatic choice, that’s not the case. But when you’re playing a counter-attacking style with pace like we did against Spurs, you need that extra distance with the distribution that Kasper has. “So that was the thinking behind that, but he will have the same rules applied to him in terms of selection.“I’ll always pick the team that I think is right for any given date. Nobody has a divine right to be out there, but I don’t think his performance deserved to concede four goals.” Kasper Schmeichel is beaten by Harry Kane last_img read more