News / Virgin Atlantic takes ‘drastic’ action as it fights to ‘weather the storm’

first_imgBy Alex Lennane 16/03/2020 Staff have been asked to take eight weeks’ unpaid leave over the next three months, with the cost spread over six months. The airline thanked unions BALPA and UNITE for their support on these measures.It is also offering staff a one-time voluntary severance package and sabbaticals and is deferring pay increases until January. The chief executive has cut his own salary by 20% until the end of the year, while the executive leadership have trimmed theirs by 15%.The airline has also urged the government to offer support, including emergency credit facilities of between £5bn and £7.5bn for UK aviation, and slot alleviation for the full summer season.An airline spokesperson said: “With this support, airlines including Virgin Atlantic, can weather this storm and emerge in a position to assist the nation’s economic recovery and provide the passenger and cargo connectivity that business and people across the country rely on.”The airline made no mention of whether it will use passenger aircraft for cargo. Rival IAG, however, which is also cutting some 75% of its capacity in April and May, said it was considering using its planes for cargo-only.Media reported that chief executive Willie Walsh said this morning governments “need to appreciate” the strong cargo demand.“Our intention is to try and keep as much of our capacity available for critical supplies that need to be shipped around the world,” he said. “We may operate some of our passenger aircraft just for belly-hold cargo to ensure we keep critical supplies moving.”He noted that airports had been co-operative about the costs for grounding aircraft.“Charging structures at airports are often designed to be very penalising to aircraft being parked – so we would expect airports to play their part.“We’ve had good co-operation so far and we’ve already started parking a number of aircraft away from our home base. And we do have significant flexibility to park aircraft on British Airways-controlled property around [London] Heathrow.” Virgin Atlantic has announced “drastic measures” as it battles to cope with the slump in demand.This morning the carrier said it needed “immediate and decisive action” to preserve cash, control costs and safeguard its future.From tomorrow, it will start to implement an 80% reduction in flights by 26 March, and park approximately 75% of its fleet, rising to 80% in April.Which routes are operated will be subject to “constant review” – but London Heathrow to Newark will be “permanently terminated with immediate effect”.last_img read more

People / Training specialist Geert Aerts is new director cargo and logistics at Brussels Airport

first_img Geert Aerts, an aviation training director, will take over from Steven Polmans as the new director cargo and logistics at Brussels Airport on 8 March.An industrial engineer, he has spent the past 15 years at training company CAE, most recently as regional operations director Europe, Africa and Middle East. He was responsible for the management of a network of 16 flight simulator training centres and flight schools, including at Brussels Airport.“With his extensive management experience in a global company, aviation and working in a complex environment with many stakeholders, Brussels Airport found Geert Aerts to be the suitable candidate to continue the strong cargo strategy of recent years and to further develop Brucargo, in close cooperation with the cargo community,” said the airport.Mr Aerts, who has no direct experience of freight, is also MD of Flight Training Alliance, a joint-venture between CAE  and Lufthansa Flight Training. He said: “I am looking forward to joining the team at Brussels Airport and further develop the cargo activities together with the Brucargo community, clients and partners.”Mr Polmans left Brussels at the end of December after 10 years, and it is not yet known where he may go next. The airport thanked him for “excellent cooperation and his track record”. By Alex Lennane 13/01/2021last_img read more

Power, politics and passivity in the public markets

first_img Related news Share this article and your comments with peers on social media Keywords Shareholder activism,  Pensions,  Institutional investorsCompanies Organisation for Economic Co-operation and Development Mature single women are wealthier than mature single men, StatsCan finds James Langton This represents a concern for policymakers, the report says, as passive investors may not devote enough attention to examining individual company performance and ensuring that capital is allocated efficiently to promising new firms.Institutional investors are particularly important in the U.S., the U.K. and Canada, the report notes. They hold 72% of the listed equity in the U.S., 63% in the U.K. and 47% in Canada.Domestic institutional investors account for 25% of the market cap in Canada; U.S.-based institutional investors control 17%, and other foreign institutions hold 4%.Another key concern, the report says, is excessive shareholder power. It finds that, for about half of the world’s listed companies, their three largest shareholders control over 50% of the company.“This may increase the scope for abusing the rights of other shareholders and, if not properly regulated, jeopardize market confidence,” it says.The markets with the least ownership concentration are the U.S., the U.K., Canada and Japan, the report says — although the three largest shareholders in these markets still control, on average, between 25% and 30% of companies’ capital.The other big concern cited in the report is undue political influence.The OECD report says that 14% of the global market cap is controlled by governments, through both their direct stock holdings and ownership via vehicles such as sovereign wealth funds and public pension funds.Moreover, governments control over half the shares in almost 10% of the world’s largest listed companies, it says.Given these government ownership levels, the report says that it’s important to consider how political priorities may affect corporate decision-making, and how government holdings impact taxpayers and pension beneficiaries. Facebook LinkedIn Twitter Politics, passive investment and shareholder power over the world’s publicly-traded companies are the major concerns highlighted in a new report from the Organization for Economic Co-operation and Development (OECD).The report, which examines the global market of public companies, finds that institutional investors control about 41% of global market capitalization, and that much of this is now passively managed. DB plan solvency in best position since financial crisis: FSRA Surging bond yields take a bite out of Canadian DB plans 42250157 - business investment opportunities on a global scale 123RFlast_img read more

PM urges citizens to prepare for Tropical Storm Ernesto

first_imgRelatedPM urges citizens to prepare for Tropical Storm Ernesto RelatedPM urges citizens to prepare for Tropical Storm Ernesto PM urges citizens to prepare for Tropical Storm Ernesto UncategorizedAugust 26, 2006 RelatedPM urges citizens to prepare for Tropical Storm Ernestocenter_img FacebookTwitterWhatsAppEmail As Tropical Storm Ernesto approaches, Prime Minister, the Most Hon. Portia Simpson Miller this afternoon (Friday, August 25) convened a meeting of the National Response Team, at Jamaica House. On its present course the storm could affect the island by late Sunday afternoon (August 27).Following a briefing from the National Meteorological Service, and ODPEM, the Prime Minister has issued the following statement:“The National Meteorological Service has put the country on storm watch, which could be upgraded to a warning by some time tomorrow afternoon. I am urging everyone to listen to the bulletins and to take them seriously.Begin to take all necessary precautionary measures as advised by the Office of Disaster Preparedness and Emergency Management (ODPEM). I know that some of you do not take warnings seriously, as you feel, we will escape. My advice particularly to those living in flood-prone areas is to follow the instructions of ODPEM, and the other authorities.If you delay, it may be too late for the emergency crews to reach you, to save your life. Remember, they too are human beings, with families.I urge all of you to listen to the bulletins on Tropical Storm Ernesto, issued by the Met office, and let us together save lives and properties.”Among the agencies in attendance were the Jamaica Constabulary Force; the fire service; the National Solid Waste Management Authority; the Office of Disaster Preparedness and Emergency Management (ODPEM); telecommunications providers; non governmental organizations; and utility services. Advertisementslast_img read more

Jamaica to Ratify Caribbean Aviation Safety and Security Oversight System Agreement

first_imgRelatedJamaica to Ratify Caribbean Aviation Safety and Security Oversight System Agreement FacebookTwitterWhatsAppEmail The Government has been given the go-ahead to ratify the agreement establishing the Caribbean Aviation Safety and Security Oversight System (CASSOS).Cabinet gave the approval at its sitting held on Wednesday, March 3.Minister without Portfolio in the Office of the Prime Minister, with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, explained that CASSOS is aimed at strengthening the civil aviation authorities of the region by promoting the upgrading and harmonisation of regulations, standards, and inspector training.It also serves to enhance the ability of individual states to fully discharge their safety oversight responsibilities and provide resource-sharing mechanisms to ensure that scarce technical skills are always available.CASSOS grew out of the Regional Aviation Safety Oversight System (RASOS) that was established in 2002 as a result of a 2001 agreement by the Association of Civil Aviation Authorities of the Caribbean (ACAAC) to develop a mechanism that would reduce the cost of providing the required airworthiness and flight operation oversight services to individual CARICOM member states. RelatedJamaica to Ratify Caribbean Aviation Safety and Security Oversight System Agreement Advertisementscenter_img Jamaica to Ratify Caribbean Aviation Safety and Security Oversight System Agreement Foreign AffairsMarch 11, 2010 RelatedJamaica to Ratify Caribbean Aviation Safety and Security Oversight System Agreementlast_img read more

$23 Million Allocated to Inner City Basic Services Project

first_imgRelated$615 Million for Infrastructural Works at Schools Advertisements Story HighlightsGovernment will spend $23.8 million this financial year, to make final payments under the Inner City Basic Services project.The initiative, which lasted from May 2006 to December 2013, was implemented by the Jamaica Social Investment Fund (JSIF), with funding from the World Bank.Its overall objective involved the improvement of the quality of life for residents in 12 inner city communities through the provision of basic urban infrastructure, financial services, land tenure, and enhancement in public safety. $23 Million Allocated to Inner City Basic Services Project Budget 2014/2015April 8, 2014Written by: Athaliah Reynolds-Baker Related$96.6 Million for Banana Accompanying Measures Projectcenter_img FacebookTwitterWhatsAppEmail Government will spend $23.8 million this financial year, to make final payments under the Inner City Basic Services project.Details of this allocation are outlined in the 2014/15 Estimates of Expenditure, now before the House of Representatives.The initiative, which lasted from May 2006 to December 2013, was implemented by the Jamaica Social Investment Fund (JSIF), with funding from the World Bank.Its overall objective involved the improvement of the quality of life for residents in 12 inner city communities through the provision of basic urban infrastructure, financial services, land tenure, and enhancement in public safety.Among the achievements under the project, as at March 2014, were the provision of Grade Six Achievement Test (GSAT) clinics and guidance counselling services for 31,361 persons, as well as mediation training, mentorship and parenting training for 35,803 persons from specific communities.The programme also saw new or improved access to water for 3,483 households; improved or new access to sewer networks for 478 households; the construction of five community centres; the approval and disbursement of 373 formal microfinance loans; and rehabilitation of 20.7 kilometres of road, which included improvements of the associated drainage systems as well as additional hydrants installed along these roadways. Related$464 Million to Improve JCF Capabilitieslast_img read more

Earth Talk – One for one for the environment

first_imgHomeOpinionColumnsEarth Talk – One for one for the environment Oct. 07, 2019 at 6:00 amColumnsEarthEnvironmentNewsEarth Talk – One for one for the environmentGuest Author2 years agoMPOWERDsustainabilityTOMSPhoto by NASA EarthTalk®From the Editors of E – The Environmental MagazineDear EarthTalk: Are any companies in the “one-for-one” charitable space pioneered by shoe maker TOMS focusing specifically on environmental sustainability? — Becky B., Los Angeles, CATOMS may have been the first company to implement a “one-for-one” model, whereby it matches customer purchases with donations of free shoes to those in need in developing countries. But dozens of other businesses are now following suit with their own so-called “in-kind aid” programs. And yes indeed, several are focused on improving environmental conditions one way or another.To wit, Brooklyn-based MPOWERD makes and sells solar powered task lights and other related off-grid gear—and donates another of each item sold to someone in need through partnerships with 650 “on-the-ground” non-profits in one of six developing countries. The company’s mission is to distribute clean energy options that provide a more economical and environmentally friendly approach to everyday tasks, whether users are in New York City or the Andes mountains. MPOWERED is a Certified B Corporation, meaning it pledges to use the power of business to build a more inclusive and sustainable economy and to operate in an ethical and environmentally responsible manner. Maybe it’s finally time to order some solar-powered string lights for that patio you’ve been ignoring?Another eco-friendly business in the “one-for-one” sector is LifeStraw, which makes pocket-sized water filters that remove 99.99 percent of waterborne bacteria so users can stay hydrated and healthy even if there’s no clean water source around. While LifeStraws are great for backpackers or others who choose to go off-grid on adventures, they are also handy—and potentially life-saving—in developing countries, where the company donates one filter for every actual customer purchase. In many cases, LifeStraw partners directly with schools in remote areas of developing countries to ensure that students can focus on their studies instead of worrying about where their next sip of water might come from—and whether or not it will make them sick.While these one-for-one programs look good from a public relations standpoint and often actually really benefit those in need, critics wonder if the companies behind them could have a bigger impact through alternative models of charitable giving. “Handing out aid in kind gives plenty to worry about,” reports The Economist. “It could suck life from local markets, and foster a culture of aid-dependency.” Another criticism of the model is that handing out goods instead of cash runs the risk of spending money on things people don’t need and won’t use.Even TOMS itself seems to be shying away from the in-kind donation model it pioneered in favor of making direct contributions to worthwhile charities. The company recently started channeling some of the profits from its new line of coffee to non-profits like Water for People, which provides sustainable, community-owned water systems (and safe drinking water as a result) to impoverished communities in seven developing countries. These donations are not tied directly to sales and represent a new direction for TOMS charitable giving.While it may have its issues, the “one-for-one” model remains a great sell to consumers who like to know just how their purchasing power is being harnessed for the betterment of humanity and the planet.CONTACTS: TOMS, toms.com; MPOWERD, mpowerd.com; LifeStraw, lifestraw.com; Certified B Corporation, bcorporation.net.EarthTalk® is produced by Roddy Scheer & Doug Moss for the 501(c)3 nonprofit EarthTalk. See more at https://emagazine.com. To donate, visit https://earthtalk.org. Send questions to: [email protected] :MPOWERDsustainabilityTOMSshare on Facebookshare on Twitteradd a commentLAX moving taxi, rideshare pickups away from terminalsDowntown deaths put focus on suicide preventionYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall7 hours agoColumnsOpinionYour Column HereBring Back Library ServicesGuest Author13 hours agoNewsCouncil picks new City ManagerBrennon Dixson18 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter18 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor18 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press18 hours agolast_img read more

ID Education Day Comes to Dallas, March 23!

first_img Share Jane Goodall Meets the God Hypothesis Email Print Google+ Linkedin Twitter Share Education Tagsbiological originsbiologyBrian MillerDallaseducationGünter Bechlyhigh schoolhistoryhome schoolsID Education Dayintelligent designMichael Keaspaleontologyparentsphilosophyphysicsprivate schoolsscienceSeattleStephen Meyerstudentsteachers,Trending Email Print Google+ Linkedin Twitter Share “A Summary of the Evidence for Intelligent Design”: The Study Guide This past week, ID Education Day in Seattle was a huge success. Now, on Friday, March 23, the show goes on the road, landing in Dallas, Texas. You can still register here.At the Seattle event, a packed auditorium of 360+ students, parents, and teachers learned about intelligent design from some of our best research talent. In Dallas, too, you’ll hear from physicist Brian Miller, historian of science Michael Keas, paleontologist Günter Bechly, and philosopher of science Stephen Meyer. Be sure to bring your best questions and challenges! Recommended Congratulations to Science Magazine for an Honest Portrayal of Darwin’s Descent of Man Origin of Life: Brian Miller Distills a Debate Between Dave Farina and James Tour Requesting a (Partial) Retraction from Darrel Falk and BioLogos Intelligent Design ID Education Day Comes to Dallas, March 23!David [email protected]_klinghofferMarch 17, 2018, 2:00 AM My 9th-grade daughter, a tough critic, was on hand for the Seattle event and was very impressed. ID Education Day is intended for students and educators from private and home schools. It’s an excellent way to supplement what students are learning about the scientific evidence on biological and cosmic origins. More information is here. It’s FREE but I recommend registering now to reserve your spot.Photo: Dallas skyline, By Robert Hensley (Flickr) [CC BY 2.0], via Wikimedia Commons. A Physician Describes How Behe Changed His MindLife’s Origin — A “Mystery” Made AccessibleCodes Are Not Products of PhysicsIxnay on the Ambriancay PlosionexhayDesign Triangulation: My Thanksgiving Gift to Alllast_img read more

Gardaí investigating Buncrana heating oil theft

first_imgHomepage BannerNews Pinterest By News Highland – October 15, 2019 Facebook Facebook Arranmore progress and potential flagged as population grows Nine til Noon Show – Listen back to Monday’s Programme WhatsApp Gardaí in Buncrana are looking for information regarding the theft of 1000 litres of home heating oil.The oil was stolen from a house at Magherabane, Linsfort, Buncrana on Thursday the 10th of October, between 10:30am and 1:30pm.Speaking on the Community Garda Slot on the Nine til Noon Show, Garda Grainne Doherty is urging the public to remain vigilant…Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2019/10/heatingoil-short.wav00:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Google+ News, Sport and Obituaries on Monday May 24th Loganair’s new Derry – Liverpool air service takes off from CODA center_img Twitter Google+ Previous articleInvestigation continuing after car set alight in South InishowenNext articleThree people injured in weekend assault in Letterkenny News Highland Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR Twitter DL Debate – 24/05/21 Important message for people attending LUH’s INR clinic Gardaí investigating Buncrana heating oil theftlast_img read more

News / Shippers embrace Cargo iQ while urging forwarders to be more transparent

first_img By Alex Lennane 03/11/2016 Shippers are set to use quality standards data from Cargo iQ in their bid to improve processes and efficiencies – and have urged forwarders to be more transparent.“We can’t plan that well,” admitted Robert Mellin, strategy development manager for Ericsson. “We always tried to push cargo out on a Friday night – but we didn’t realise that it then stops at an airport on Saturday and Sunday.“We need to know how capacity looks, and want to understand that, together with a forwarder, so that we can plan.“Today, we don’t have that dialogue.”Mr Mellin added that shipper processes tended to be inefficient because they treated each shipment and tradelane in the same way.“We have thousands of tonnes, and each airport is different. We can’t look at them all manually, so we treat them all the same – but it is not efficient.”Manufacturers are becomingly increasingly aware of logistics requirements: cost, track and trace, supply chain planning. Essa Al-Saleh, CEO of Agility, said customers were increasingly demanding solutions.“Shippers have become much more knowledgeable about our industry, which is a healthy situation. It raises the bar for everybody.  If you want to get better as an organisation, you need someone to challenge you. You don’t want to be in your comfort zone.”Logistics costs, although a major part of shippers’ total spend, is not the only issue, they argued. Lars Droog, head of EMEA supply chain for chemicals company Tosoh, said he disagreed with procurement that focused on figures alone.“There are so many ways you can cut costs on air freight. When you only focus on rates, it can result in carriers leaving the market and that is not in the interests of shippers. There are ways to cut costs without lowering rates.”One of those ways is better planning, with improved efficiency as a result – a method that the recent tie-up between quality standards organisation Cargo iQ and the Global Shippers’ Forum seeks to boost.Cargo iQ can help shippers understand why freight is late, when capacity is in demand, and what the best processes are.“One of my jobs is to connect the market with shippers,” said Rogier Spoel of the European Shippers Council. “We need to get Cargo iQ out to shippers, but there is a lack of knowledge over how to use it. There is the possibility to make air cargo an attractive option.”He added that shipper groups would actively start promoting Cargo iQ among their members and that a single standard, even it it covered only part of shipper requirements, was better than no standard at all.Other shippers were focused on achieving stable rates.Marc Dellafaille, purchasing manager for AGFA, which has insourced its forwarding, said: “Manufacturers have stared to launch standards, and see that logistics is expensive. We spend $100m purely on logistics – it’s an important cost.“We don’t use forwarders because we can’t have rate changes every few months. We need an idea of the cost, so we go for long-term agreements with carriers.“Some shippers negotiate directly with carriers but give the rest [of the business] back to forwarders for a set fee.”One of the problems is sales departments of forwarders, whose constant focus on sales resulted in frequent changes of rates, not necessarily to the benefit of shippers who want stability.Lucas Kuehner, head of air freight for Panalpina, said he didn’t have a bad perception of procurement departments.“They are professionals, so long as they don’t switch business every year. I think shippers want long-term relationships, but at a fair rate.”He added: “And air cargo is not expensive. Try giving your freight to an integrator – then you know what expensive is.”The shippers were speaking at an ill-attended discussion at TIACA’s Air Cargo Forum in Paris last week, where they had hoped to answer questions from carriers and forwarders on what they could do to improve their behaviour.But as moderator Enno Osinga, a consultant, said: “Shippers want to talk about what the industry needs from them – so where the hell is everyone?”center_img © Rawpixelimages last_img read more