Tackling climate change through law, policy

first_imgSince it was founded in 2006 by Professor Jody Freeman, LL.M. ’91, S.J.D. ’95, Harvard Law School’s (HLS) Environmental Law and Policy Program (ELP) has become the leader in its field, with renowned faculty, innovative courses, a lauded clinical program that gives students hands-on training in real cases, and the program’s new Policy Initiative, which provides nonpartisan legal analysis and policy advice to federal and state agencies. In the spirit of Harvard President Drew Faust’s recent focus on addressing the problem of climate change, HLS interviewed Freeman, who served in the Obama administration as counselor for energy and climate change and is co-author of a forthcoming book on global climate change and U.S. law. In a question-and-answer session, she discussed the range of ways in which HLS scholars and students are engaged in confronting climate change.HLS: Your course on energy and climate law and policy is widely viewed as innovative. Why?FREEMAN: Climate change is usually taught separately from energy law when, in fact, they have everything to do with each other. My class is a unique, interdisciplinary course covering the full gamut of topics: electricity sector regulation, natural gas, nuclear power, and renewable energy, oil and gas regulation offshore and onshore, transportation sector policies, energy security, and hot topics such as the North American boom in “unconventionals,” the Keystone XL pipeline, and geo-engineering. We’ve had some terrific guests, including the assistant secretary of defense for operational energy, the assistant secretary of energy for policy and international affairs, and the minority staff director to the House Energy and Commerce Committee, among others, who really make these issues come alive. The class poses the question: Is it possible to have a coherent energy policy and climate policy at the same time? Students from all over campus and MIT join our HLS students, making for a wonderful mix of perspectives.HLS: HLS Professor Richard J. Lazarus ’79, a leading authority on the Supreme Court and environmental law, who served as executive director of President Obama’s commission investigating the BP oil spill, plays a leading role in the ELP. His course on advanced environmental law, which covers climate change, among other topics, is hugely popular. Why?FREEMAN: Well, first, he is a phenomenally talented teacher. In addition, as someone who has argued 13 cases in the Supreme Court and provided counsel in dozens more, he offers a unique inside perspective to our students. As part of his course this spring, two dozen students studied a climate-change case pending before the court, which involves a challenge to the EPA’s greenhouse gas regulations. They spent weeks analyzing the case record and briefs, then attended the oral arguments, and afterward met with Chief Justice John Roberts ’79 and Solicitor General Donald B. Verrilli Jr. This kind of deep dive into leading climate litigation, coupled with exposure to the key players, is really special and gives students a much better understanding of the complex issues.HLS: How else is Professor Lazarus involved in the issue of climate change?FREEMAN: Richard serves on the board of the Environmental Defense Fund, where he also chairs its litigation-review committee, which oversees all proposals for engaging in litigation, including on climate change. So he plays a key role by advising stakeholders involved in the climate debate on which challenges make the most strategic legal and political sense. Closer to home, he also served on President Faust’s greenhouse gas review task force this year, which undertook a comprehensive review of the University’s existing programs for reducing greenhouse gas emissions. In addition, he speaks and publishes widely on climate change, including a major article in the Cornell Law Review on how climate change is a “super wicked” problem because of its remote impacts, which calls for creative legal strategies. In January, he delivered a keynote address at a high-level conference of industry and government attorneys sponsored by the Edison Electric Institute and the Environmental Law Institute on pending Supreme Court climate-change litigation. And he recently published an article in the Harvard Law Review Forum on the ability of the president of the United States to address the adverse risks of climate change through executive action, both to reduce greenhouse gas emissions and adapt to climate change.HLS: Harvard Law students also have the benefit of [Robert Walmsley University Professor] Cass Sunstein’s presence at HLS. Can you speak to his contribution?FREEMAN: Cass is a formidable scholar and public intellectual, and students not just at HLS but from all over campus are very keen to work with him. Cass has done important work on climate change, which has long been a significant part of his broader interest in regulation and behavioral law and economics. When he served in the Obama administration as director of the White House Office of Information and Regulatory Affairs, Cass oversaw the cost-benefit process for many major energy-efficiency rules that have a huge impact on reducing greenhouse gas emissions. He also spearheaded the interagency process that for the first time established a government-wide social cost of carbon, which will be factored into the cost-benefit analysis for proposed regulations. That was a significant feat.HLS: What are some of the more innovative projects on climate change that students are working on now?FREEMAN: The practical, hands-on work our students get to do on issues related to climate change is really unparalleled. Led by Wendy B. Jacobs ’81 [clinical professor of law and director of the ELP’s Emmett Environmental Law and Policy Clinic] and supported by our two terrific staff attorneys, clinical instructor Shaun Goho and Aladdine Joroff, our clinical students have for several years advised the city of Boston about options for preparing to manage the impact of climate change, and last year drafted regulations to implement one of the city’s climate-change mitigation measures, the Building Energy Reporting and Disclosure Ordinance. In 2012, the clinic advised a major national environmental group on reducing methane emissions from a natural-gas fracking operation in the Bakken shale formation in North Dakota. This year, the clinic filed an amicus brief in the same U.S. Supreme Court climate-change case that Richard Lazarus and his students attended for oral argument, Utility Air Regulatory Group v. Environmental Protection Agency, which involved challenges to the EPA’s regulation of greenhouse gas emissions from stationary sources. The clinic’s brief, which argued that greenhouse gas permitting has not resulted in excessive delays or costs for regulated industries, even received a shout-out from the U.S. Solicitor General during oral argument. What’s notable here is the diversity of the projects we take on, and the variety of tools the students learn to use to address climate change.HLS: Are there other notable clinical projects related to climate change?FREEMAN: Last summer, the clinic released a report, “Beyond the 2020 Plan: A Review of the Massachusetts Clean Energy and Climate Plan,” which presents a dozen concrete suggestions to help Massachusetts achieve its greenhouse gas emissions reduction goals under the state’s Global Warming Solutions Act. A couple of years ago, the clinic produced a comprehensive white paper and developed model legislation to facilitate the use of carbon capture and sequestration as an interim measure for mitigating climate change. And it convened several workshops on the topic in Massachusetts and Washington, D.C., which were very well received by policymakers. The clinic also has been working with the Harvard Forest to examine the forest’s opportunities to generate and possibly sell carbon offsets based on the carbon sequestered in the forest’s trees and other biomass. It is working now on a project to study the legal constraints on the structure of micro-grids in Massachusetts, which are small systems for generating and distributing electricity, heat, and cooling among a network of users in a geographically defined area. For several years, the clinic has represented a group of general contractors who specialize in renewable energy projects but were being blocked from installing solar power by a state licensing board. Again, this is just a subset of the full slate of projects on climate mitigation or adaptation that the clinic has taken on. Wendy Jacobs has done a magnificent job building the best environmental-law clinic in the country, and climate is a big part of the docket.HLS: What climate-change projects are underway at the ELP’s new policy initiative?FREEMAN: The policy initiative, launched just this year by Kate Konschnik, has already published an influential white paper on how the EPA might design its upcoming power-plant rule (which is the key initiative in President Obama’s Climate Action Plan) to promote energy efficiency and ease compliance for states. The paper’s legal and policy arguments are fresh and innovative, and the reception by the EPA and industry stakeholders alike has been very positive. As a result, at least a dozen states have asked Kate to advise them on how they might build energy-efficiency programs into their plans for complying with the new regulation.It’s exciting that two students are doing spinoff research from this paper. Kate, who formerly served as environmental counsel to Sen. [Sheldon] Whitehouse, has also involved students in a significant fracking project, in which they have engaged with the Department of the Interior (DOI) and the oil and gas industry on how to improve the DOI’s rules on drilling and chemical disclosure. And Kate and her Energy Fellow, Ari Peskoe, have also launched a project on renewable energy, consulting with states on how to ensure their clean-energy programs are not vulnerable to constitutional challenge. Just recently, part of Minnesota’s clean-energy law was invalidated by a federal court on dormant commerce-clause grounds, so this issue is very important and timely. As part of this effort, HLS has just rolled out the State Power Project website, which will track the constitutional challenges to state renewable portfolios, carbon offsets, and other clean-energy programs.HLS: Tell us about your new book, which has drawn advance praise for its expert and innovative approach to this critically important topic.FREEMAN: “Global Climate Change and U.S. Law,” which I produced with my colleague at Columbia Law School, Michael Gerrard, will be published next month by the American Bar Association. We intend it to be the most authoritative and comprehensive guide to the broad variety of statutes and regulations that currently address climate change in the U.S. The message of the book is that even though Congress has not passed climate legislation, there is a tremendous amount of legal and regulatory innovation going on at all levels of government, including initiatives aimed at both mitigation and adaptation. Wendy Jacobs wrote the chapter on carbon capture and sequestration, and Kate Konschnik wrote the concluding chapter with me, on the future prospects of climate change legislation in Congress. We hope this will be the go-to resource for policymakers and practitioners who want to understand the legal state of play.HLS: Since leaving the White House, have you managed to continue being involved in the national conversation on climate change?FREEMAN: Since leaving government, I have continued to advise the Obama administration and Congress on climate policy whenever I can be useful. I’ve also continued to speak and write on energy and climate issues, whether on The New York Times op-ed page or through books and articles. In the fall, I gave the keynote address on U.S. climate policy at Northwestern University’s Searle Center Conference on Energy and Federalism. My new article “Old Statutes, New Problems” (co-authored with Dave Spence), which will be published later this year in the University of Pennsylvania Law Review, focuses on how agencies are now setting the direction of climate and energy policy during a time of congressional dysfunction. The article shows how agencies are strategically adapting the statutes on the books, which requires them to manage significant legal and political risk.HLS: The Intergovernmental Panel on Climate Change Fifth Assessment Working Group reports, which have been issued recently and have gotten a lot of attention, say the risks will only get more expensive the longer we wait to get a handle on this. Do you believe we will ever be able to solve this problem or at least manage it enough, the way we were able to arrest the depletion of the Earth’s ozone layer?FREEMAN: This challenge is monumentally tougher than ozone depletion because it involves shifting the way we use energy, and the world’s energy systems do not turn on a dime. Also, greenhouse gases are stock pollutants that live a very long time in the atmosphere, which means that even if we stopped emitting them today, some climate change would already be locked in because of past emissions. So we will need to invest in adaption no matter what. But in terms of mitigating the most severe risks, which scientists have very clearly described in these reports, there is still time. We have a window in which to get moving, but the message of the U.N. reports is that we need to act now to start bending the curve of emissions down, toward stabilization. We cannot lose another decade. It’s not beyond our grasp. We have the technology to increase energy efficiency, to substitute natural gas for coal in the electric sector, to increase the supply of renewables like solar and wind, and to make progress on moving to cleaner fuels in the transportation sector. It’s very hard to do this, though, while it remains free to pollute the atmosphere with greenhouse gases. So priority No. 1 is putting a price on carbon. And the U.S. cannot do this alone. So we need to work toward an international agreement under which all nations with significant emissions, both developed countries and emerging economies, commit to meet tough targets and follow through. Ultimately, we pay a small amount now, or we pay hugely later. It’s really that simple. The politics of this are challenging, but I am optimistic that bottom-up pressure will continue to build, especially as the consequences come more clearly into view, and policymakers will be moved to act. I see it as an opportunity, actually, for the U.S. to lead a new era of clean energy innovation.This interview has been edited for length and clarity. To read the full interview, visit the Harvard Law School website.last_img read more

Three Ways to Declutter Your Data Center

first_imgGoing into the season of staycations and the dreaded garage and spare room clean-outs, people are in the process of decluttering and making their spaces more efficient. The same process could be applied to reviewing drive performance and capacity options for the servers in your data center. Many companies purchase new drives every year and there are some things to stop and consider to help ensure your long-term ROI.Sometimes bigger is betterDell EMC just introduced 3.5” 14TB HDDs for select PowerEdge servers that can offer up to a 40 percent increase in capacity compared to 3.5” 10TB HDDs.  If you are storing data-heavy workloads such as Enterprise Resource Planning (ERP), SQL, medical records and scientific data, these may be the ideal drives for your data center. In fact, if you are using the PowerEdge T640, you can now store 252TB for data-intensive workloads. And while you are cleaning out old boxes of high school memorabilia or old CDs, keep in mind that 1 terabyte storage can contain the equivalent of 1428 CD-ROMs or 17,000 hours of compressed audio.[1] So the T640 can hold the equivalent of nearly 360,000 CD-ROMs or over 4 million hours of compressed audio![2] If you upgrade your capacity, you can increase your system’s lifespan. Just like adding a bedroom or two may help you stay longer in your current home.“Check out the whopping 252TB of storage you can pack into the #PowerEdge T640 with these 14TB drives from @ToshibaStorage! #DellTechWorld pic.twitter.com/O68eg67Zst“— Dell EMC Servers (@DellEMCServers) May 2, 2018SharePerformance is keyA huge bureau with drawers that don’t open is fairly useless if you can’t get to your items quickly. Don’t forget to look at your preferred capacity to see what the potential performance impact may be. It may be worth upgrading to a new size or type of drive to optimize performance. Part of our process for qualifying drives includes performance benchmark testing.  So with our PowerEdge HDD specifications, you can easily see that the 2.4TB 2.5” HDD offers better performance for sequential read workloads than the 1.8TB 2.5” HDD, for example.Secure use and reuseWe all want to make sure our items are stored safely, whether it’s Granny’s silver candlesticks or critical customer data. PowerEdge next-generation servers offer a cyber-resilient architecture to protect your data throughout your server lifecycle.  All firmware for critical components (NICs, HBAs, RAID, CPLD, storage drives, PSUs, etc.) is validated using cryptographic signatures to ensure that authentic firmware is running in the server.In addition, Dell EMC is focused on ensuring that security and quality control processes are in place to help prevent counterfeit components and malware from infiltrating our supply chain. These controls span our end-to-end product lifecycle including design, supplier selection, production, delivery, services and support.Just as you would run through an old wallet or pocketbook to remove personal items before donating it to a secondhand shop, you would want to remove data before reusing, disposing or donating hardware. When retiring or repurposing a system or array the next-generation PowerEdge servers can help you to permanently and quickly erase content from HDDs or SSDs. Self-Encrypting Drives (SEDs) offer locking protection that binds the storage drive to the server and RAID card used. Even if the drive ends up in unauthorized hands, it cannot be accessed without supplying the required locking passphrase.Keep it simple It is easy to choose Dell EMC Enterprise drives when you purchase new PowerEdge servers or when adding a new drive to an existing system. Minimize worry with a hardware warranty for Dell EMC Enterprise drives and an option to choose the ProSupport extended warranty offering.  Plus, Dell EMC provides an online firmware update capability for drives that reduces downtime due to firmware maintenance.Wishing you a wonderful, clutter-free summer! Please follow us @DellEMCServers and LinkedIn to let us know how you balance performance and capacity in your data center. Contact your Dell representative to discuss the best PowerEdge drive options to optimize your workloads.[1] https://en.wikipedia.org/wiki/Terabyte[2]  Capacity may vary due to size and type of file and/or operating environment.last_img read more

Growth of unemployment claims slows for the week

first_imgWeek Ending January 31, 2009. There were 1,339 new regular benefit claims for Unemployment Insurance last week, an increase of 33 from the week before. Altogether 16,248 new and continuing claims were filed, 343 more than a week ago and 5,780 more than a year earlier. In addition, the Department processed 1,816 claims for benefits under Emergency Unemployment Compensation, 2008, an increase of 8 from last week.The Unemployment Weekly Report can be found at: http://www.vtlmi.info/(link is external) Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc(link is external)last_img read more

Man Shot Twice in West Babylon, Cops Say

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 29-year-old man was shot twice in front of a house in West Babylon Tuesday night, Suffolk County police said.The victim was shot once in each leg by an unknown suspect, a police spokeswoman said. He was transported to a local hospital and treated for non-life-threatening injuries, she said. The shooting occurred at 9:30 p.m. on Albany Avenue, less than a mile away from last week’s triple homicide in Wyandanch. No suspects have been apprehended in that shooting and police have not issued an update on the investigation. Investigators ask anyone with information about Tuesday’s shooting to call Crime Stoppers at 1-800-220-TIPS. All calls are anonymous.last_img read more

An innovative strategy for digital SME lending in Guatemala

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Conor Farrell Conor Farrell has been working in international development for five years, bringing a passion for finding and supporting innovative solutions to address global issues. At World Council of Credit Unions, … Web: https://www.woccu.org Details According to the International Labor Organization, small- and medium-enterprises (SMEs) are responsible for more than two-thirds of all jobs worldwide, along with the majority of new job creation.In Guatemala, the number is even higher. Nearly 75% of the population in the Central American country is employed through SMEs—accounting for approximately 40% of the national GDP. Investment into these entities is integral to the continued expansion of employment opportunities, enabling the required working capital needed to drive growth. Despite those facts, local laws restrict the ability for credit unions to provide loans to SMEs, further restricting the access to much needed capital.La Federación Nacional de Cooperativas de Ahorro y Crédito (FENACOAC), with over two million members from its 25-member credit unions united under the MICOOPE brand,saw an opportunity to help bridge this gap. To support this effort,  World Council of Credit Unions (WOCCU) and its Worldwide Foundation for Credit Unions, enlisted several U.S. credit union CEOs to host a strategic workshop with FENACOAC. During the forum, U.S. credit union professionals discussed their experience lending to SMEs, helping to develop a strategic plan that prioritizes the development and expansion of SME-lending by Guatemalan credit unions.WOCCU President and CEO Brian Branch discusses the global credit union strategy with managers of the 25 MICOOPE Credit Unions in Guatemala.Marking an important next step to achieve this plan, FENACOAC hosted a November event to present the details of an operational plan to the member credit union managers and their representatives. They detailed the innovative decision to create an entirely new entity—termed a credit union service organization (CUSO)—that will develop a refined methodology to begin lending to the SMEs in Guatemala. The CUSO will be owned and operated by the FENACOAC member credit unions but operate as a separate entity under the MICOOPE brand. For the first time in Guatemala, credit unions will now begin to reach out to SMEs and ask about their financing needs—knowing they will be able to meet them (and more) through the newly established CUSO.To complement the lending strategy led by the CUSO, FENACOAC also plans to incorporate two additional aspects that will strengthen credit unions in Guatemala: a new digital strategy and linkages to business development service (BDS) providers.Digital StrategyWhile described as a “transitioner” country in terms of their current mobile connectivity, Guatemala still faces a robust set of barriers to mobile adoption and usage—including an especially large mobile gender divide. However, deemed a “fast grower” by GSMA Intelligence—and with over 20.8 million connections—a digital strategy that will expand the credit union suite of services and reach is an opportune initiative that is well timed to coincide with this growth. Through the development of their digital strategy, credit unions in Guatemala are searching for cost-effective solutions to expand their products to members in a more efficient, transparent and timesaving manner. Beginning with their online banking platform, FENACOAC intends to continue its digital strategy with the CUSO in order to digitize their loan application process and risk analysis. The goal is to enable their loan officers to visit local SMEs and discuss financing needs while collecting basic financial information. From this information, loan officers will be able to provide a pre-approval to the applicants, ask about additional gaps in coverage and establish foundational relationships with the SMEs.Complementing Financial Resources with Non-Financial LinkagesWhile credit unions already offer a variety of services in Guatemala (including insurance, guarantees, savings, credit for consumption and remittance payments), many have not been able to reach the financial and non-financial needs of SMEs. This is largely because they are legally restricted in serving their credit needs and thus cannot establish a relationship with these entities in order to offer complementary services. But it is also because they are often ill-equipped to meet the needs of the SMEs. Through the CUSO, FENACOAC seeks to develop and refine an adequate and appropriate methodology to analyze the needs and risks of SME lending. It will then transfer this methodology to its network of credit unions. While the CUSO will function to meet the needs of formal SMEs, individual credit unions can continue to serve the informal SME market. Equipped with the right methodology and capacity, these credit unions will be able to accurately evaluate the needs and risks of lending to these entities. They’ll also be able to apply the right terms and requirements in order to mitigate risk, while continuing to serve this underserved sector of the economy.Expanding Credit Union CapacityFinally, complementing the development of an adequate methodology, FENACOAC’s strategic plan incorporates linkages to non-financial service providers that provide professional support to SMEs through business development services. These partnerships with BDS providers will expand credit union’s reach and service offerings to SMEs, in addition to ensuring adequate development of new products to meet the needs of SMEs. Coupled with the access to financial resources through the credit unions, these partnerships can link SMEs to new sources of information specifically targeted towards SME growth.With a large market demand and an innovative solution to meet that demand, FENACOAC’s strategic plan is one worth following. Over thirty years, WOCCU is proud to have supported FENACOAC and their network of credit unions to build capacity, expand membership and services, and develop and test demand-driven products. We have been supportive during the formation of this plan and we look forward to continuing our work with FENACOAC as they begin to implement their strategy. Finding innovative solutions to meet the needs of the market is challenging. Be sure to follow the story and stay up-to-date as WOCCU’s network of global credit unions continues this important work. Guatemala City, Guatemalalast_img read more

CUInsight Minute with Lauren Culp – May 1, 2020

first_imgWelcome to the CUInsight Minute, sixty seconds from our Publisher & CEO Lauren Culp with the top three of our favorite things from the week.Mentioned this week:*I’m excited to be attending the CO-OP Financial Services virtual THINK 20 event on Thursday, May 7. Join me and register here.If you aren’t capturing website leads right now, you’re missing precious opportunitiesby DERIK KRAUSS, BLOOMCUWe’re in a recession and lending is down, which means your credit union has fewer opportunities to earn revenue. People are still applying for loans and opening accounts, just not as many. And now, they’re even more likely than before to apply through your website since all your lobbies are closed. (read more)Why consumers walk away from loan apps that aren’t intuitiveby STEVE MALONEY, SYNC1 SYSTEMSWhen it comes to loan apps and the digital age, outdated techniques won’t work. Millennial consumers “live” on their mobile devices while Generation Z was raised on digital from birth. Hence, younger consumers rely heavily on smartphones for shopping, banking, social media, work, entertainment, and reviews/feedback. (read more)Don’t pause DEIby ANGELA RUSSELL, CUNA MUTUAL GROUPCredit unions are more vital now than ever before. They are on the front lines, serving as a sheltering tree and a safe haven for the financial health and well-being of their members and their communities. As part of this industry, you remind your members they are not alone during this pandemic. You are showing up and demonstrating the credit union difference every day. (read more)Author’s Note: May the 4th be with you next week.  ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Lauren Culp Lauren Culp is the Publisher & CEO at CUInsight.com.She leads the growing team at CUInsight, works with organizations serving credit unions to maximize their brand and exposure, connects … Web: https://www.cuinsight.com Detailslast_img read more

CRO Race postponed to 2021

first_imgNamely, CRO Race is one of the largest tourist promoters of the Republic of Croatia and deservedly bears the epithet of the most beautiful postcard in Croatia. Every year, the race promotes Croatia in 190 countries, where 504 hours of sports competitions and stunning scenes of Croatia from the air, natural beauty and heritage of different areas through which the race passes are broadcast on television through over 395 media houses and agencies. Photo: Cro Race All of the above is a sufficient reason to postpone the race because it is practically impossible to organize a race according to all epidemiological measures, not to mention the risk of leaving such an organization to chance, due to conditions you can not influence, such as increasing the number of new cases and closing borders. . The great news in the overall situation is that the organizing team of CRO Race is motivated to continue organizing the sixth edition of the national cycling spectacle on the first day from September 28 to October 3, 2021, for which the process of inclusion in the international calendar of World Races has begun. Cycling Federation (UCI). The organizers of the race now have extra time that they plan to use by starting the promotion of the race at the international level in the spring of next year. Unfortunately in the current covid situation, the only logical decision because CRO Race is in organizational terms a very demanding sporting competition in which 140 cyclists of different nationalities participate in teams from all continents, from Australia and America to Africa, Europe and Asia. There are also 300 escorts, 250 people in the organization, 750 police officers and 1200 wardens who travel hundreds of kilometers every day and change accommodation six times a week since the race starts daily in one city and ends in another. In addition, tens of thousands of people follow the race as they pass through their venues, and a variety of sports and entertainment programs are organized in the host cities and winners are announced. Also, since last year, KIDS CRO Race competitions for 1500 elementary school students have been organized in the host cities. center_img Thus, the Tour of Slovenia, the Tour de Suisse, the Tour of California, the Arctic Tour of Norway, the Tour of Britain and many other races did not receive their release in 2020, and the Tour de France, Giro d’Italia, Vuelta Espana, Paris-Roubaix , Bastogne-Liege-Bastogne, Tirreno-Adriatico and Milano-San Remo are held in atypical terms and abbreviated editions.  The sixth edition of the international cycling race CRO Race, which was supposed to be held in October this year, is postponed and moved to a new date from September 28 to October 3, 2021. “With the final decision, we waited until the last moment, taking into account not only the situation in our country, but all the circumstances that affect the organization of such a large international sporting event. Our main task is to provide drivers, teams, fans and partners with the best conditions for the race and we want to be responsible and maintain high standards in the quality of the organization that we have set over the years. We are in contact with partners, sponsors, sponsors and destination partners who together provide the budget for the organization of the race and we have mutual understanding and support.”, Said the director of the race Vladimir Miholjevic and stressed that the CRO Race is one of many races that have been postponed this year or postponed to another date. last_img read more

Durant among Brooklyn Nets players diagnosed with COVID-19

first_imgThe last team to play the Nets was the Western Conference-leading Los Angeles Lakers, who were stunned 104-102 by Brooklyn on March 10.”All players and members of the Nets travel party are being asked to remain isolated, closely monitor their health and maintain constant communication with team medical staff,” the Nets said.The four cases more than double the known number of cases of COVID-19 among NBA players.Utah Jazz defensive standout Rudy Gobert was the first NBA player to test positive — his illness triggering the NBA’s current closure.Teammate Donovan Mitchell and Christian Wood of the Detroit Pistons have also tested positive for the virus.Woods was tested after reporting flu-like symptoms to the Pistons medical staff.Mitchell was tested after Gobert’s positive test, but had not experienced symptoms.”I don’t have any symptoms,” Mitchell said in an interview broadcast by ABC television on Monday. “I could walk down the street [and] if it wasn’t public knowledge that I was sick, you wouldn’t know it. I think that’s the scariest part about this virus.”You may seem fine, be fine. And you never know who you may be talking to, who they’re going home to.” Kevin Durant is reportedly among four Brooklyn Nets players who have tested positive for the new coronavirus and are in isolation.The injured Durant, who has yet to play for the Nets since signing for the club last year, confirmed to The Athletic website he had tested positive for the virus.”Everyone be careful, take care of yourself and quarantine. We’re going to get through this,” Durant was quoted as saying. News that the two-time NBA Finals MVP was among those who had contracted the virus came soon after the Nets confirmed four players had tested positive for COVID-19.”Four Brooklyn Nets players have tested positive for the COVID-19 virus,” the team said in a statement. “Of the four, one player is exhibiting symptoms while three are asymptomatic.”All four players are presently isolated and under the care of team physicians.”The Nets said they were notifying known contacts of the players including those from teams who played against the Nets shortly before the NBA shut down its season indefinitely on March 12.center_img Topics :last_img read more

Los Angeles police fatally shoot Black man after suspected bike violation

first_imgThe killing renewed protests in the city by demonstrators angered at deadly violence against Black people by police. Such protests have become a near daily occurrence around the country after George Floyd, a Black man, was killed by a white Minneapolis police officer in May.”You don’t kill any race but us, and it don’t make any sense,” Fletcher Fair, Dijon Kizzee’s aunt, told reporters at the site of the shooting on Tuesday where activists called for an independent investigation by California’s attorney general. “Why us?”Protests also continued in Kenosha, Wisconsin, over a white police officer’s shooting of Jacob Blake, a Black man, seven times in the back, leaving him paralyzed, and the unrest has become a major issue ahead of November’s presidential election.President Donald Trump, a Republican, arrived in Kenosha on Tuesday as he seeks to rally his base of white supporters by defending police against criticism of brutality. A Black cyclist was fatally shot by Los Angeles County police, the latest instance of police killing a Black man, as the county Sheriff’s Department and a lawyer representing the man’s family gave diverging accounts of the shooting on Tuesday.The cyclist, 29-year-old Dijon Kizzee, was shot more than 20 times in the back on Monday afternoon after two sheriff’s deputies tried to stop him for a bicycle code violation, said Benjamin Crump, who said he is representing Kizzee’s family.The Los Angeles Sheriff’s Department said Kizzee, whose identity was confirmed by the county medical examiner-coroner, was shot fewer than 20 times after dropping a handgun he had been carrying and punching one of the deputies. Kizzee was riding his bike on Monday afternoon in Los Angeles County’s Westmont neighborhood when two sheriff’s deputies who had been driving by tried to stop him.Kizzee abandoned his bike and ran for a block with the deputies in pursuit, Brandon Dean, a sheriff’s department spokesman, told reporters on Monday evening. Kizzee then punched one of the deputies in the face, dropping a bundle of clothing he was carrying, the department said.The deputies said a semi-automatic handgun was in the dropped bundle, and both of them began shooting Kizzee, the department said.Dean said he did not know what part of the bicycle code Kizzee was suspected to have violated or how many times the deputies shot him, other than saying it was fewer than 20. His office declined to answer questions about the shooting and the status of the two deputies on Tuesday.The county coroner was due to conduct an autopsy on Kizzee on Tuesday.However, Crump, a civil rights lawyer known for representing Black victims of police violence around the country, wrote in a Twitter post: “They say he ran, dropped clothes and handgun. He didn’t pick it up, but cops shot him in the back 20+ times then left him for hours.”Crump asked on Twitter for people to send him any videos of the incident, saying that sheriff’s deputies are not required to wear body cameras.center_img Topics :last_img read more

Polish pension reforms hinder stock market growth, report says

first_imgThe impact of the “slider”, which incrementally transfers the OFE savings of those with 10 or fewer years left before retirement to the Social Insurance Institution (ZUS), will be more pernicious.In 2015, slider transfers will total around PLN3.7bn (€901m) in 2015, while new contributions (from those fund members who chose to remain in the system when it became voluntary) fall to PLN2.7bn, from PLN8.2bn the previous year.Those savings accumulated when the system was mandatory.As yet, the funds have not been obliged to liquidate equity holdings to meet their ZUS obligations only because of the dividends they have accrued and reinvested, primarily in Polish equities, but the slider gap will have doubled to some PLN2bn by 2020.When the second pillar was launched in 1999, it was mandatory for those born after 1968 and optional for those born between 1949 and 1968, so the slider currently applies to the latter, smaller category.From 2026 onwards, the first cohort of mandatory payees falls into the slider, and net outflows start to exceed inflows.The impact on the WSE is already evident.Before 2014, the OFEs invested in around half of the exchange’s listed companies.As of the end of 2013, their investment accounted for around 20% of market capitalisation and around 50% of the free float.In the case of 55 companies, OFE investment exceeded 25% of those firms’ capital.The paper argues that, in addition to listed companies that will now need to seek alternative market investors, the number of IPOs will shrink drastically as a result of the OFEs’ reduced purchasing power.In 2014, the value of WSE IPOs by market capitalisation fell to an eight-year low of PLN1.3bn, from PLN4.7bn in 2013 and a five-year high of PLN15.6bn in 2010, in contrast to global stock market trends.Overall market turnover on the WSE fell by 9% year on year in 2014, and by 15% in the first quarter of 2015.The effect on NewConnect, the WSE’s alternative trading platform launched in 2007 for smaller, mostly high-tech companies, will be more striking.The number of companies making their debut on the platform plunged from 172 in 2011 to 42 in 2013 and only 22 in 2014.The paper stresses that the investment capital accumulated by the OFEs was one of the attractions for these high-growth companies to list on NewConnect.Alternative capital market sources for corporate investment are scarce.The third pillar remains unattractive, with only a small number of Poles saving in either IKE or IKZE accounts.Meanwhile, the government’s ban on OFE advertising over April-July 2014 (when members had to decide whether to remain in the system), coupled with its own negative campaigning against the second pillar, has resulted in a minuscule take-up by new labour market entrants of only some 5,000. Government attacks on Poland’s second-pillar pension funds (OFEs) are putting the brakes on capital market development, according to an analysis from the Civil Development Forum Foundation (FOR), the Warsaw-based think tank founded by Leszek Balcerowicz, architect of Poland’s port-communist economic transition.The paper, written by Tomasz Bardziłowski, vice-president of Polish brokerage Vestor Dom Maklerski, argues that capitalisation growth at the Warsaw Stock Exchange (WSE) over the last 15 years was mainly due to the growth of OFE savings.Overhauls to the system, starting in 2010 when the contribution rate was cut from 7.3% to 2.3%, and more recently in 2014, is shrinking the availability of capital finance for local companies.Following the transfer of nearly half of OFE assets to ZUS in 2014, Polish pension fund savings as a share of GDP fell from 19% to 9%.last_img read more