Misguided belief in outperformance to blame for bonus culture – academic

first_imgIn practice, he said, many arrangements between pension funds and asset managers regarding bonuses involve performance that cannot assessed, due to lack of expertise.He said too many pension board members believed that an academic course lasting just a few days was sufficient to challenege hedge fund managers, something he described as a “grave misconception”.He also criticised the ease with which pension funds outsource work by “simply by throwing it over the fence to an asset manager”.“Nobody lends their car to somebody without ensuring they have a driving licence,” Koelewijn said. “But we just put our money outside, and are confident everything goes well.”The professor called for an increase in expertise among pension trustees.He also claimed the DNB and the AFM, both regulators in the Netherlands, were drawing up rules that were too detailed, failing to take into account the people at which they are aimed. Outperformance is almost impossible, and pension funds’ willingness to pay for it is contributing to the current bonus culture, according to Jaap Koelewijn, a professor of corporate finance at Nijenrode Business University.Speaking at a seminar on fee policy and bonuses at Dutch pension funds, Koelewijn argued that a number of studies show that outperformance is hardly ever achievable.“Asset managers suggest they can outperform, and clients are willing to believe this,” he said. “It is a kind of magic we are kidding ourselves into.”However, Koelewijn, who is also an independent adviser on financial supervision, acknowledged that bonuses were not necessarily negative in concept, as long there was a clear relation between the reward and the delivered result.last_img read more

Push for warning labels on alcohol

first_imgONE News 22 Nov 2012Coroner JP Ryan’s call for all alcohol products to carry health warnings is being supported by Alcohol Healthwatch. Ryan says William Paki died last December as a direct result of consuming too much alcohol and the coroner believes Paki probably was unaware of the risk. Ryan said “it is a constant source of concern” that a product which can result in the death of the consumer when drunk in excess can be sold without any warning. “I feel compelled to reiterate the need for such an inherently dangerous product to contain a warning to consumers.”…Alcohol Healthwatch director Rebecca Williams says the alcohol industry has “got away with not informing its consumers of the real risks associated with their products for far too long”. Williams said labels can be effective in raising awareness of the risks of consuming alcohol and “would be more effective when used in conjunction with measures such as increasing price and restricting the marketing and availability of alcohol in an integrated alcohol harm prevention strategy”. Williams said it is astonishing that a product that causes the premature death of 1000 New Zealanders each year is not required to advise consumers of the risks. Ryan has recommended that the appropriate Government agency consider making it a legal requirement that every container of alcohol carry a label warning consumers of the risk of death if an excessive amount is consumedhttp://tvnz.co.nz/national-news/push-warning-labels-alcohol-5233559last_img read more

Prince William reacts to Aston Villa’s league woes

first_img Promoted Content5 Of The World’s Most Unique Theme ParksCouples Who Celebrated Their Union In A Unique, Unforgettable Way7 Facts About Black Holes That Will Blow Your Mind9 Iconic Roles That Could Have Been Played By Different ActorsTop 10 Most Romantic Nations In The World8 Superfoods For Growing Hair Back And Stimulating Its Growth5 Of The World’s Most Unique Theme ParksThe Models Of Paintings Whom The Artists Were Madly In Love WithWhat Are The Most Delicious Foods Out There?Cristiano Ronaldo Turns His Hotels Into Coronavirus Hospitals?Best & Worst Celebrity Endorsed Games Ever MadeThe Highest Paid Football Players In The World “We had a nice chat about football, he’s a keen follower of it.” Dean Smith’s troubled side languish in 18th place in the Premier League having been thrashed 6-1 on Sunday by Manchester City and are facing a relegation battle. read also: Former Liverpool goalkeeper Reina joins Aston Villa on loan William has been photographed at Aston Villa games, both home and away, in recent years. FacebookTwitterWhatsAppEmail分享 Loading… center_img Prince William returned to work 24 hours on from the crunch Sandringham summit about his brother’s royal future and discussed his fears of Aston Villa going down, an FA chief has said. Prince William with former Villa player, John Carew Wills joined the Queen and Prince Charles at the Norfolk estate yesterday to discuss the decision by Harry and Meghan Markle to ‘step back’ as senior royals. And the future king, 37, also discussed the fortunes of beloved club Aston Villa with FA bigwig and ex-Manchester United chief executive David Gill. “I’ve been lucky enough to meet (William) a few times and talk about football, he was more worried about Aston Villa and how they’re going to finish this season,” former accountant Mr Gill, 62, said.Advertisementlast_img read more

Halep braves falls, sore wrist to make winning Aussie Open start

first_imgRead Also: Australian Open: Nadal not focusing on beating Federer’s 20 Slams recordWith both players relentlessly pummelling from the baseline, Halep finally put a punishing first set away in 69 tough minutes, having saved three set points to force the tie-break.The second set was far more straightforward as the 24-year-old Brady appeared to run out of gas and Halep made light of her painful wrist.FacebookTwitterWhatsAppEmail分享 The Romanian fourth seed recovered from a poor start to beat the American Jennifer Brady 7-6 (7⁄5), 6-1 and launch her title bid. Loading… Two-time Grand Slam champion Simona Halep survived a couple of tumbles and a sore wrist before surging into the Australian Open second round on Tuesday.Advertisementcenter_img The 2018 Roland Garros and 2019 Wimbledon champion faces British qualifier Harriet Dart or Japan’s Misaki Doi next in Melbourne.The 28-year-old Halep had her serve broken in the first game by the 49th-ranked Brady, who defeated world number one Ashleigh Barty in the build-up to the year’s first Grand Slam.Halep, the 2018 runner-up, was uncharacteristically flustered, taking a couple of tumbles, tossing her racquet and complaining to her coach.She appeared to hurt her right wrist in one fall in the first set, and had heavy strapping put on it.Romania’s Simona Halep went into the Australian Open as one of the favourites Promoted ContentXi Ding Created Caricature Version Of Marvel CharactersPortuguese Street Artist Creates Hyper-Realistic 3D Graffiti5 Of The World’s Most Unique Theme ParksBest & Worst Celebrity Endorsed Games Ever Made2020 Tattoo Trends: Here’s What You’ll See This YearTop 10 Most Romantic Nations In The WorldThe Very Last Bitcoin Will Be Mined Around 2140. Read More7 Ways To Understand Your Girlfriend Better8 Shows That Overstayed Their WelcomeThe 10 Most Irresistible Asian ActressesYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeWho Earns More Than Ronaldo?last_img read more

Bulldogs Middle School Results Against Wildcats

first_imgThe Batesville Middle School Wrestling team opened their season by hosting the Wildcats of Franklin County on Monday.  The Bulldogs battled to a 69-36 loss.Batesville was at a disadvantage giving up 6 forfeits. They were led by 8th grader Jacob Weigel who got the bulldogs’ only pin. Also getting wins were Jonathan Lamping, Aaron Norman, Josh Mobley, Jesus Garcia, and Chase Hamilton. Wrestlers that fell short in close matches include Alex Murphy, Micah Riffle, and Tyler Shaeffer. Other Bulldogs competing included Spencer Mack, Nathan Liver, Josh Pohlman, Brendan Imel, and Jacob Davidson.Batesville Middle Schools next competition will be this Saturday, February 4th, at Jennings County starting at 9:00 am.Courtesy of Bulldogs Coach Curtis Miller.last_img

Maquoketa Speedway to host June 1 Stead Family Children’s Hospital Night

first_imgFunds will be raised in Maquoketa, Trackside Promotion will be donating a portion of the front gate ticket sales, the Jackson County Fair Board will be donating percentage of the profit for the concessions and there will be a 50/50 raffle, along with a helmet collection by the drivers and their crews during intermission.  All former patients and their immediate family members will be admitted and seated in the reserved seating free of charge. Before the races start, the crowd will present the children with an in-person wave to honor them. T-shirts will be sold for this special event. Schrader will be racing an IMCA Modified that evening and at Dubuque Speedway on Sunday, June 2. Fans are encouraged to wear Hawkeye black and gold apparel. For more information, call Tom Feller at 563 357-2582 or Nick McCrady at 563 940-7841.center_img This will be the first major fundraiser since the opening of the Stead Family Children’s Hospital in 2017. MAQUOKETA, Iowa – On Saturday, June 1, Trackside Promotions will hold a special night of racing at Maquoketa Speedway. It is to be declared UIHC Stead Family Children’s Hospital Night with special guest Ken Schrader. Mr. Jerre Stead was born and raised in Maquoketa. Special attractions for the children will include bus rides and the Batmobile car rides provided by Robert “Junky” Garien and B&G Salvage. There will also be plenty of celebrating for the children being honored.last_img read more

Clara (Asche) Felix, age 100

first_imgClara (Asche) Felix, age 100, said her final goodbyes to family and friends on Sunday September 22, 2019. She was born on April 12, 1919 the daughter of the late Charles and Esther (Raney) Asche. Clara lived her entire life in the Delaware community, growing up there and attending school along with her brothers and sisters.Clara would meet Jack Felix, and they were married on April 25, 1942. They would continue to live in the same area and build their home on Old Delaware Road. Clara loved the home they had built; Jack and Clara watched their family grow up around them. Clara enjoyed nature from animals to flowers, was a gifted painter and always made the best apple pies. Jack and Clara enjoyed traveling and spending their time together, a favorite past time was going out to eat, sometimes including a drive to Michigan for lunch and then back home. Clara worked for nearly 25 years for the Jac-Cen-Del school corporation before retiring in 1981.She will be deeply missed by brother Floyd Asche, several nieces and nephews, along with numerous great nieces and nephews, she was preceded in death by husband Jack Felix, her parents, brothers; Clarence, Herschel, Carl, Gerald, Robert, Gene, and Leroy, and sisters Goldie and Sylvia.Visitation will be held on Thursday September 26, 2019 from 10am-12pm. followed by funeral services at 12 pm., all at Neal’s Funeral Home in Osgood. Memorials maybe given to Our Hospice of Jennings County or the Ripley County Humane Society in care of the funeral home.last_img read more

Two arrested on drug charges after traffic stop

first_imgGreensburg, IN—Recently an officer with the Greensburg Police Department attempted to initiate a traffic stop on a vehicle that had committed a traffic violation in his presence. As the vehicle came to a stop in the area of Third and Home Street, the driver who was later identified as Jeremy Lucas, 44, of Greensburg, exited the vehicle and began to flee from the stop.The officer advised other officers of the description of Lucas, while the original officer stayed with the vehicle and the other occupants. During this time, one of the occupants of the vehicle, Amanda Ponsler, 40, of Greensburg, had moved into the driver’s seat of the vehicle.As the original officer was dealing with the occupants, a Decatur County Sheriff’s Deputy arrived in the area and had located Lucas was then taken into custody.As officers continued to investigate the incident, they allege narcotics and paraphernalia were located inside the vehicle. After the investigation was completed Lucas and Ponsler were taken into custody and transported to the Decatur County Jail. Jeremy L. Lucas was charged with allegations of Possession of Methamphetamine, Resisting Law Enforcement, Possession of Paraphernalia, and an arrest warrant.  Amanda M. Ponsler was charged on allegations of Possession of Methamphetamine and Possession of Paraphernalia.last_img read more

Northern Ireland win date argument

first_img Discussions between the opposing associations over a new date began soon after, with Russia hoping to play four days after their June 7 assignment in Portugal. Northern Ireland boss Michael O’Neill made his dissatisfaction with that plain as his British-based players would have been well into their off-season. Reports that Russia had won the argument circulated earlier this week, but the IFA rejected those and has announced the new, FIFA-ratified arrangements. The game will now be held three days before the start of the Premier League campaign, while the Football League and Scottish Premier League are due to begin on August 3. An IFA statement read: The Irish FA can confirm that the postponed World Cup Qualifier between Northern Ireland and Russia will be played at Windsor Park, Belfast on 14 August 2013; kick-off time to be confirmed. “A delegation from the Irish FA consisting of the President, Jim Shaw and the Chief Executive, Patrick Nelson, met this week with their counterparts from the Football Union of Russia and FIFA to agree the new date.” The new date represents something of a victory for the Irish Football Association, whose side are winless on the pitch, as Russia had pushed for June 11. The original fixture fell foul of heavy snow and ice at Windsor Park last month and attempts to stage the fixture the following day also proved unsuccessful. Northern Ireland’s postponed World Cup qualifier against Russia has been rearranged for August 14.center_img Press Associationlast_img read more

Allardyce failed with Lukaku bid

first_img Even a deal to bring former striker Carlton Cole back to the club after he left at the end of June failed due to his lack of fitness with ex-Fulham frontman Mladen Petric eventually drafted in. The 32-year-old was signed on a free transfer and, although Allardyce has been impressed with his effort in training, the game against Everton is likely to come too soon for the Croatia international. “Mladen Petric is training every day and trying to overcome the every day fatigue. He is going through a pre-season and that leaves you tired,” he said. “We’re then waiting to find his recovery is quicker and he’s into the football as well as the physical side. He’s enjoying being back with a group of players he can mingle with rather than being stuck in a park or gym. “We’re hoping he can make an appearance in or around for the Cardiff game [on Tuesday night].” That means Allardyce is likely to persist with Modibo Maiga as his main striker although there is an outside chance he could recall Ricardo Vaz Te in to a more central role than he is accustomed to. Press Association And, ahead of their meeting at the weekend, Allardyce admitted a deal for Lukaku escaped from his clutches following a summer-long pursuit of the 20-year-old. “I chased him all summer to be honest,” he said. “But when it became the final day of the deadline we missed out and Everton managed to secure his position. We were more or less told he was going back to West Brom. We tried, but didn’t manage to clinch it.” With Carroll still likely to be out for some time and yet to feature since completing a permanent transfer from Liverpool, West Ham have struggled to find the back of the net. Joe Cole and Kevin Nolan struck in the victory over Cardiff but since then the Hammers have drawn a blank in the league, drawing 0-0 at Newcastle and Southampton and suffering a 1-0 home defeat at the hands of Stoke, leaving Allardyce with a growing worry. “We are concerned about it – there is no doubt about that,” he conceded. “It’s not the fact that we are not creating chances – our quality of finishing needs to improve. Our defensive side is very good.” As well as Lukaku, West Ham had a number of forwards they were looking to bring in as the transfer window drew to a close but they were unable to acquire any targets. The Hammers have failed to score in the Barclays Premier League since their 2-0 opening day win over Cardiff whilst club-record signing Andy Carroll remains sidelined with his heel problem. Belgium international Lukaku was brought in by Everton boss Roberto Martinez on transfer deadline day after impressing on loan at West Brom last year. If Everton hand a debut to on-loan striker Romelu Lukaku at Upton Park on Saturday, West Ham manager Sam Allardyce will probably be left thinking what might have been.last_img read more