Treasury to study high frequency trading amid worries of a crash

first_img whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com whatsapp Tags: NULL THE TREASURY has commissioned a study into high frequency trading amid concerns that computer-generated errors can play havoc with the economy. The department will sponsor an investigation into the practice, to be led by Lucas Pedace in the Government Office for Science, the Financial Times reports today. It will look into how computer trading impacts on the integrity, stability and efficiency of financial markets. The Treasury has expressed concern over “flash crashes”, after a computer glitch wiped 1,000 points from the Dow Jones in May. The study comes as the EU readies its own report on the use of computer trading, as part of the review of the Markets in Financial Instruments Directive. KCS-content center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Wednesday 29 September 2010 11:33 pm Treasury to study high frequency trading amid worries of a crash Share Show Comments ▼last_img read more

Continue Reading

Reduced contract hours saved jobs during slump

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndo Reduced contract hours saved jobs during slump whatsapp whatsapp Share Tags: NULLcenter_img SHORT-TIME work schemes (STW) led to an “important impact on preserving jobs during the downturn,” according to the organisation representing the world’s most developed nations.A new working paper on the impact of STWs during the financial crisis by the OECD finds Germany and Japan benefited most from implementing schemes, saving a combined 650,000 jobs.In Germany, 235,000 jobs, the equivalent to 0.8 per cent of the country’s workforce was saved, whilst 415,000 jobs were saved in Japan, or 0.9 per cent of its workforce.However, the benefits were limited to those workers on permanent contracts, which had the adverse effect of increasing the split in the job market between people with regular jobs and those with temporary and part-time jobs.Twenty-two countries introduced or adjusted STW schemes during the crisis. KCS-content Monday 24 January 2011 7:25 pm More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Show Comments ▼last_img read more

Continue Reading

GC targets fairer and safer gambling market in year ahead

first_img Tags: Online Gambling OTB and Betting Shops The UK Gambling Commission has set out its business plan for 2019-20, with a continued focus on protecting consumers, preventing gambling-related harm and raising overall standards in the industry. Topics: Casino & games Legal & compliance Lottery Sports betting Strategy Tech & innovation Bingo 17th April 2019 | By contenteditor Regions: UK & Ireland The Gambling Commission for England, Scotland and Wales has set out its business plan for the 2019-20 year, with a continued focus on protecting consumers, preventing gambling-related harm and raising overall standards in the industry.The plan highlights the projects and milestones that the UK regulatory body aims to reach or meet over the next 12 months as part of its ongoing strategy, which runs from 2018 until 2021.“We put consumers at the heart of our approach, which requires us to strike a balance between the enjoyment people get from gambling and the risks that gambling can present,” Commission chief executive Neil McArthur said.“Managing those risks is not just the responsibility of the individual consumer, and that is why we assess risks by looking at the providers of gambling, the products that are offered and the places in which people gamble.“Our approach allows us to respond to emerging risks and issues, whilst constantly seeking ways to drive up standards.”In terms of protecting consumers, the Commission will publish a number of priority actions, following recent calls for evidence on using credit cards to fund gambling and player protection controls for Category B gaming machines.This is to be expanded further, with an evaluation of current player protection measures for Category C and D machines, as well as an investigation into game design. The Commission may introduce new regulations should it decide current controls are insufficient.There will be efforts to ramp up harm prevention measures, in part through the launch of a new National Strategy to Reduce Gambling Harms, which is due to launch later this month. The impact of the new strategy will be closely monitored once it is implemented.Further work on responsible advertising will also be undertaken, with the Commission to work with the Advertising Standards Authority to identify effective controls to mitigate the impact of gambling advertising on children, young people and vulnerable people.Early next year, the regulator will then launch a review of funding arrangements for problem gambling prevention and treatment initiatives, and publish an action plan designed to ensure funding is adequate to meet public demand.Efforts to raise industry standards will also continue, with a best practice programme for licensees to be promoted through a series of events and publications. Corporate evaluations of operators will then be carried out, to ensure the standards are upheld.Finally, with the tender process for the third National Lottery licence to launch later in 2019, the Commission will look to ramp up industry interest in the process. This will see a series of events on the opportunity presented by the tender take place.In related news, the regulator has also published its income forecasts for fees from licensed operators over the next 12 months.The Commission expects betting to be the dominant force in the market, accounting for  32% total fees, ahead of casinos on 27% and software with 16%. Behind these are machines on 8%, lotteries with 7%, arcades at 6% and bingo with 4%. Subscribe to the iGaming newsletter GC targets fairer and safer gambling market in year ahead Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Continue Reading

Casinos Austria has Belgian online licences annulled

first_img However this could mean that CAI will be forced to reapply for its A+ and F1+ licences, after making amendments to the URLs through which online casino and sports betting are offered. How it will ultimately proceed will depend on the Belgian Gaming Commission’s interpretation of the various court rulings, legal sources close to the matter said. CAI, which operates the Grand Casino Brussels Visage, was one of a number of operators to have its igaming licences challenged by gaming hall operator Rocoluc in September 2015. “Until there is a new government, I do not expect the matter to be finally resolved.”  4th September 2019 | By contenteditor The decision to grant Casinos Austria International (CAI) online betting and casino licences has been annulled by Belgium’s Council of State, potentially throwing the future of its sub-licensee Betway in the market into doubt. Tags: Mobile Online Gambling This ultimately informed the Council of State, the highest administrative court in the country, as it decided against CAI. It annulled the decision to award CAI the licences, meaning they have not been revoked, so Betway is unlikely to immediately go offline. This, described in court papers as “accumulated access”, was queried by Rocoluc, which argued that offering two different types of gambling via a single outlet was discriminatory. This was based on advice from the Belgian Constitutional Court.In several judgements from that court, it was ruled that the country’s gambling laws do not specifically permit more than one form of online gambling being offered via a single source, which is already prohibited for some bricks and mortar venues. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games Further cases against other land-based operators that hold igaming licences are pending, as well as another Constitutional Court case. Subscribe to the iGaming newsletter However Philippe Vlaemminck of Pharumlegal told iGamingBusiness.com that the Council of State’s decision was “confusing”.He pointed out that the Brussels Court of Appeal and the Advocate General of the Supreme Court had both ruled that offering both products under a single URL was perfectly legal.  Casinos Austria has Belgian online licences annulled “The story is far from being resolved,” Vlaemminck added. “The Parliament tried to solve the matter, but the elections made it impossible.  The case centres around the fact that Betway, via its dot.be domain, offers both online casino games, under CAI’s A+ licence, and sports betting, under an F1+ licence.  Email Address The decision to grant Casinos Austria International (CAI) online betting and casino licences has been annulled by Belgium’s Council of State, potentially throwing the future of its sub-licensee Betway in the market into doubt. Regions: Europe Western Europe Belgium Topics: Casino & games Legal & compliance Sports betting Belgian politicians are working to form a ruling coalition, following federal elections held in May this year.Casinos Austria International and Betway have both been contacted for comment on the matter.last_img read more

Continue Reading

Bank of Baroda Uganda Limited (BOBU.ug) 2004 Annual Report

first_imgBank of Baroda Uganda Limited (BOBU.ug) listed on the Uganda Securities Exchange under the Banking sector has released it’s 2004 annual report.For more information about Bank of Baroda Uganda Limited (BOBU.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Bank of Baroda Uganda Limited (BOBU.ug) company page on AfricanFinancials.Document: Bank of Baroda Uganda Limited (BOBU.ug)  2004 annual report.Company ProfileBank of Baroda (Uganda) Limited is a leading financial institution in Uganda offering banking products and services to individual, commercial and corporate clients. Its product offering ranges from savings and current accounts, term deposits and loans to letters of credit, bank guarantees, fund transfers and foreign exchange services. The company provides equity brokering services, including investment advisory, securities trading, securities exchange listing and sponsoring and remittance services. Bank of Baroda Uganda has an extensive network of branches and ATMs in the major towns and cities of Uganda and offers convenient banking in the form of Internet and mobile banking services. The financial institution was founded in 1953 and is based in Kampala, Uganda. Bank of Baroda (Uganda) Limited is a subsidiary of Bank of Baroda. Bank of Baroda Uganda Limited is listed on the Uganda Securities Exchangelast_img read more

Continue Reading

3 simple investment rules I follow

first_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this. Peter Stephens | Monday, 8th June, 2020 Having a simple set of investment rules could prove to be very valuable given the uncertain outlook for the stock market. Economies across the world are set to experience sharp declines in GDP growth and a rise in unemployment figures due to the lockdowns put in place to contain coronavirus.By investing in companies you understand, buying them at a discount to their intrinsic value and ignoring market noise, you could capitalise on the current uncertain outlook for the stock market.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Investing in what you knowIt is impossible to have a sound understanding of every sector and industry within the stock market. As such, it makes sense to focus your capital on those areas where you have a solid foundation of knowledge. It may mean that you find it easier to spot investment opportunities that go on to deliver high returns in the long run.Similarly, it may mean that you avoid unnecessary risks. Someone without a good understanding of a sector may miss an obvious threat to its future, while an investor who has knowledge of the industry may be able to avoid common mistakes.While it takes time to acquire knowledge about companies and the sectors within which they operate, only investing in what you understand can improve your risk/reward ratio. If you have limited knowledge, it may be a good idea to only invest in a small number of sectors and use tracker funds to obtain diversification with the rest of your capital until such a time as you have sufficient knowledge to invest directly in a range of businesses.A margin of safetyAnother investment rule that could improve your returns is obtaining a margin of safety when purchasing a stock. This essentially means that you value a company, and seek to buy it at a discount to that price. This strategy provides risk reduction, since there is a margin of safety in case unforeseen events occur or your analysis has missed relevant issues that impact negatively on a stock’s price.At the present time, many stocks trade on wide margins of safety. As such, there appear to be numerous opportunities to obtain a large discount to a company’s intrinsic value across the stock market.Market ‘noise’Market’ noise’ is the views and opinions of other investors that could influence your investment-making decisions. Ignoring them can be difficult, but also beneficial to your overall returns in the long run.Many investors become overly emotional during boom and bust periods. This can affect their decision-making ability, and following their views can likewise be detrimental to your portfolio’s performance.Therefore, having an investment rule that ignores the views of your peers and instead focuses on facts and figures when deciding which companies to purchase could be a means of strengthening your portfolio’s long-term outlook. Image source: Getty Images Our 6 ‘Best Buys Now’ Shares Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. “This Stock Could Be Like Buying Amazon in 1997” Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! See all posts by Peter Stephens 3 simple investment rules I follow Enter Your Email Addresslast_img read more

Continue Reading

The FTSE 100 is down 20%, but this FTSE 100 share has halved. I’d buy it today!

first_img See all posts by Cliff D’Arcy Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Cliffdarcy has no position in any of the shares mentioned. The Motley Fool UK has recommended Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! The FTSE 100 is down 20%, but this FTSE 100 share has halved. I’d buy it today! “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Addresscenter_img Simply click below to discover how you can take advantage of this. Image source: Getty Images Cliff D’Arcy | Wednesday, 22nd July, 2020 | More on: LLOY Our 6 ‘Best Buys Now’ Shares I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. On Monday, I argued that the FTSE 100 has been a serial underachiever all the way back to the start of this century. The point of my history lesson was to show that although the index has disappointed, a few FTSE 100 members have done exceptionally well.The FTSE 100 has been a flopTo continue my history lesson, here’s how the UK’s main market index has performed over three recent time periods (excluding dividends):5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Six months: -16.5%One year: -17.7%Five years: -19.9%Note again that these FTSE 100 returns don’t include regular cash dividends. Adding dividends of, say, 4%+ a year will improve these results, possibly into a modest positive return for the FTSE 100 over the past half decade. Huh.But the FTSE 100 is just an averageAt its current level of 6,218, the FTSE 100 also stands 19% below its 2020 high (7,675 on 17 January) and 21% below its all-time high (7,877 on 22 May 2018).That said, it’s important to note that, as a market index, the FTSE 100 tracks the aggregate value of its members. Its levels don’t tell you anything about how any individual member has performed. Of course, some of these companies have been bright stars, while others have been complete dogs.Lloyds has been a huge flopAmong the dirty dogs of the FTSE 100, Lloyds Banking Group (LSE: LLOYD) stands out for its superior loss-making abilities. Here’s how the Lloyds share price has performed over five time periods:Six months: -46.9%One year: -46.3%Two years: -51.2%Three years: -55.6%Five years: -65.2%As you can see, over all five holding periods, Lloyds has been a truly awful share to own. Indeed, over the past five years, it sits fourth from bottom among all FTSE 100 shares. Given this awful performance, it’s a wonder that Lloyds still has any shareholders at all.The past is done. Look to the future.Once upon a time, in early 2007 and before the global financial crisis of 2007–09, the Lloyds share price hovered around £4. But that’s ancient history now, as both Lloyds and the financial world have changed drastically over the past 12 years.As a value investor, I look at the Lloyds share price today and wonder how much lower it could go. For the record, this year’s low was 27.1p on 14 May and, at 30.3p now, Lloyds is up 11.8% since.Lloyds is now valued at £21.6bn – a fraction of its peak value, but a business powerhouse nevertheless. For now, the bank is in a world of pain, with UK loan defaults and losses set to soar. Likewise, near-zero interest rates, combined with soaring unemployment and falling house prices, are bad news for FTSE 100 banks. Also, earnings for 2020 could be totally wiped out – and there’s still Brexit to come.Then again, Lloyds has several low-risk, high-quality, profitable businesses under its bonnet, including the UK’s largest mortgage book. The bank also holds a huge buffer of capital to offset Covid-19 losses. What’s more, economic recovery as the coronavirus abates will eventually trigger the return of Lloyds’ formerly chunky dividend.In short, in the hope of the return of a decent dividend, I’d buy Lloyds today, grit my teeth and hold on for dear life!last_img read more

Continue Reading

Kilsheimer and Nelson: In their own words

first_img Reply You have entered an incorrect email address! Please enter your email address here Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Barbara McLeod Nelson: “Before the debate, people were patting me on the back and saying ‘hey Bryan you’ve got this, you’ve got to do good’. And you’re just… wow! It was really rough. I was nervous because I wanted to do well for the people supporting and cheering for me.” Michael Turner Make way for more dollar stores and auto part stores! We are all set to go back to the past by electing Nelson. Decision Apopka 2018Editor’s Note: The Apopka Voice asked mayoral candidates Joe Kilsheimer and Bryan Nelson eight questions about their plans to govern Apopka. The questions were wide-ranging and took on issues like the role of a mayor, economic development, the budget, and the annexation of South Apopka.  Their answers show the significant differences between the two candidates.So without further explanation, here is Apopka Mayor Joe Kilsheimer and Orange County Commissioner Bryan Nelson in their own words:Kilsheimer and Nelson are a contrast in governing philosophy and approachBy Reggie Connell/Managing Editor of The Apopka VoiceQuestion 1: Typically elected officials want to be the voice of the people. But what if the will of the people and the knowledge you have gained through research and understanding of an issue don’t line up? Which direction would you go?Apopka Mayor Joe KilsheimerApopka Mayor Joe Kilsheimer: Under the U.S. Constitution, the State of Florida Constitution and under the Charter of the City of Apopka, we have chosen to govern ourselves with a “representative form” of government. This means we elect individuals with whom we agree based on their track record, their philosophy and/or their expression of vision on the types of policies they intend to pursue. Elected officials are expected to conduct research, think through issues and come to decisions that represent the best course forward while balancing the pros and cons. It is inevitable that there will be disagreements among elected officials and voters. Indeed, it is my experience that it is almost impossible for two people to agree on everything all the time, making it even less likely for 50,000 people to agree with one person all the time.  How do you resolve that conflict? I tell people that I get up every morning, set my moral compass on “true north,” and ask myself in every case: What is the RIGHT thing to do?Orange County Commissioner Bryan Nelson:Orange County Commissioner Bryan NelsonFirst, we need to get out into the community to find out what issues are important to the constituents which should help guide our decisions. Let me give you an example of how we turned a contentious issue into a solution that everybody came out a winner. Sweetwater Club was failing with a run-down clubhouse and golf course. The owner needed help to keep the Club open with a funding stream of dues to support the club. Ashton Woods, the developer, stepped in and gave the club $600,000 toward building a new clubhouse and golf course and also agreed that the new homes would contribute each month toward the operating expenses of the club. The Club Owner agreed to keep the Club and golf course open for at least 6 years benefitting all. The homes are priced in the mid 300’s so the current residents won’t lose any value in their homes and probably will see an increase in property values once the club and golf course have been completed. This process took three community meetings to get consensus but by the third meeting, almost everyone was pleased with the project.Question 2: As mayor, what will your approach be to building the 2018-19 fiscal budget? What programs/expenses will you add or cut? What would be your priorities?Nelson: As to budgets while serving in the Legislature during the great recession as a member of the Government Operations and Appropriations Committee we asked each department head to show us a budget with zero increase, a 5% decrease and a 10% decrease in their overall budget. We forced each department head to justify their spending but also prioritize each budget item. On a $4-billion budget, we looked at every line item some as low as $30,000 and made sure that each and every expense was justified. It was a very difficult two years where vacancies didn’t get filled but rather we asked our existing State employees to step up and fill the gaps as we waited for the economy to recover. Obviously, first responders are the most critical with public works coming in second with our infrastructure needs but every department is important to the success of our community. Our city employees are some of the finest but they need a leader who will lead by example not by mandate. My first item of business will be to cut my salary in half to show my commitment to getting us back on sound financial footing. We must budget for the city’s needs but scrutinize the wants.Kilsheimer:  For the foreseeable future, Apopka will have to focus on critical infrastructure needed to prepare the city for the growth that lies ahead. Over the past several years, the City has focused on: A) Public safety, with two new fire stations, new police officers, body cameras; B) Water infrastructure, with an upgraded wastewater plant and additional storage facilities for reclaimed water and C) Recreation assets such as Lake Avenue Park and the coming splash pad at Kit Land Nelson Park.  In coming years, the City of Apopka needs: A) a fully equipped and staffed Fire Station No. 6 to replace the temporary quarters at Florida Hospital Apopka; B) a Public Safety complex in the downtown business district to replace the aging and outdated police department headquarters; C) Additional recreation facilities on Apopka’s south side and in Kit Land Nelson Park.Question 3: Are the general fund reserves too high, too low, or about right using two months of operating expenses as the baseline? What would you propose as the right amount and how would you get there?Kilsheimer:  The City of Apopka’s policy is to maintain an unrestricted general-fund budget reserve adequate to meet unforeseen events. That was the case when I took office and it remains the case today. The reserve policy is expressed in Apopka’s approved 2017-18 budget this way: “The City’s practice is to maintain a reserve equivalent to two month’s operating needs in the General Fund and three month’s operating needs in the Utility Fund.” (Page 18). It should be noted that the standard established by the Government Finance Officers Association is exactly the same: two month’s worth of spending. In practice, two month’s worth of spending equals about 16 percent of the City’s general fund budget. In reality, according to the 2017-18 budget, the City’s reserves stood at 20.2 percent at the beginning of the fiscal year on October 1, 2017.Those numbers are important guideposts, but by themselves don’t tell the entire story in Apopka. Here is some context to consider:In the past two budget cycles, the City of Apopka has budgeted for the staffing and operation of two additional fire stations from its general-fund budget. We built and equipped Fire Station No. 5 off Jason Dwelley Parkway.  And we opened Fire Station No. 6 in temporary quarters at the new Florida Hospital Apopka. These public safety improvements are vitally needed to cover our growing city.Many cities pay for the construction of facilities like new fire stations from an impact-fee fund. These are funds paid by builders and developers when they pull building permits. The purpose of an impact-fee fund is to make new construction bear the burden of providing expanded facilities. In Apopka, we established public-safety impact fee funds in 2016. It will take several years to build up the savings in these accounts to pay for the cost of additional facilities. In the meantime, we have to rely on the general fund, which is supported by all taxpayers.We have also budgeted for additional police officers and planning staff in the Community Development Department. These are all general fund obligations.With regards to building up the general fund reserves, I recently proposed at a City Council meeting that the City undertake a strategic budget review, and build a budget based on performance measurements. We need to first understand and know that the City’s critical needs are being met. If so, we can and should take excess revenues and build up the City’s reserves.Nelson: We must first stop the digging. We can’t spend reserves which have been depleted to the lowest levels in decades. It will take at least one year to stop the bleeding but in the fiscal year 2019-2020, I would like to budget for $1,000,000 to be added to reserves each and every year.Question 4:  As mayor, what initiatives would you champion in the City budget to improve the lives of all struggling residents in Apopka, but particularly those south of 441?Nelson: We must give the residents South of 441 more affordable housing options like the Habitat Village on 13th where Orange County stepped up to the plate and gave $700,000 toward the 56 Habitat homes. We also need to identify homes that have been abandoned or condemned and tear them down and use the impact fee tax credits to build brand new homes going from the worst buildings to the best. We also need to upgrade Alonzo Williams Park giving our youth a safe and inviting place to play.Kilsheimer: In my term as mayor, here are some of the projects we have championed to help residents of Apopka, particularly those who live south of U.S. Highway 441:Apopka Youth Works. This summer youth-employment program was launched in 2015 in partnership with CareerSource Central Florida. We began with 30 high-school juniors and seniors, mostly from the 32703 ZIP code. The City recently announced that in the summer of 2018, we will expand the program to offer summer jobs to 150 young people, again as a result of the City’s partnership with CareerSource Central Florida.Apopka Begins & Ends With ‘A’. This program, in partnership with Orange County Public Schools, is designed to identify the community resources that will help each Apopka public school improve student performance and achievement on standardized tests. One direct outcome of the City’s program is that Phyllis Wheatley and Zellwood elementary schools were awarded a 21st Century Grant. A total of about $700,000 will be spent at the two schools over the next three years to establish after-school tutoring and mentoring programs.Downtown Apopka Redevelopment. The coming redevelopment of downtown Apopka will create jobs that will be immediately accessible to residents of South Apopka. Downtown redevelopment has four main elements: City Center; Station Street; Sixth Street Promenade and re-development of the old Florida Hospital site.In the future, the City needs to expand economic development efforts to further create jobs in Apopka.Question 5: Would you be in favor of putting a plan in motion to responsibly annex South Apopka? How would you do it?Kilsheimer: The idea of annexing South Apopka is as much a moral issue as it is an economic issue. The morally right thing to do would be to annex the unincorporated areas of Apopka so that the City could be more responsible for the provision of municipal services. It is logical to assume that the City of Apopka is in a better position than Orange County to provide municipal services. The challenge is how to accomplish this without placing an undue burden on existing Apopka residents for addressing decades of economic neglect and stagnation. The plan would necessarily involve high-level negotiations with the leadership of Orange County and with the Florida Legislature to provide funding to cover the extra expenses that annexation would involve. It must be openly stated, however, that Apopka would need willing partners at Orange County and at the Legislative level to address the economic burden.Nelson: As to annexation by serving as your County Commissioner for both incorporated and unincorporated South Apopka we could do a better job in coordinating our efforts between Apopka and Orange County and I would be the logical choice to do that. Our Bridges Center is one of the jewels of District 2 and I am so proud of all the good work that is accomplished there. Orange County funds the operations but doesn’t discriminate against citizens who live in the City. Our August Backpack Drive at the Bridges Center has donated over 1,000 backpacks each year to worthy students and nowhere on the application does it ask if you live in the City or the County. Question 6: What is your philosophy on utilizing CRA funds?Nelson: CRA funds are to be used for eliminating blight and slum. Go back to my answer on #4 for utilizing CRA funds. The CRA board must also meet on a more regular basis and give the board members more information before going into the board meeting. You can’t ask them to spend $3 million dollars without giving board members the ability to ask questions and get answers before the actual meeting.Kilsheimer:  CRA funds, according to Florida law, should be expended on infrastructure projects designed to create a more attractive environment for private investment. The funding of a Community Redevelopment Agency comes from increases in property tax revenues – over time – that are collected and set aside in a special account. It stands to reason that the primary purpose of these funds is to be spent on measures that will further increase property tax values so that the expended funds can be replenished.Question 7: What is your vision for economic development in Apopka? Where do you see Apopka in four years?Kilsheimer:  The proper role for government is to establish the climate for the City’s future. Under my administration, we have sought to establish a growth strategy. We have laid down “rules for the road” so that residents, property owners, and business owners know Apopka’s shared values, what Apopka residents want and where Apopka residents want our City to go.We did that in our Grow Apopka 2025 Vision Plan, which the City Council adopted in April 2016. As part of the visioning exercise, we solicited the opinion of more than 2,500 Apopka residents. We learned the following things from visioning:Apopka residents like the small-town charm of our community, and they want City leaders to hold on to that quality.Apopka residents also see the growth coming toward our City, and they want our City infrastructure to be prepared for that.Apopka needs to create 11,000 new jobs by the year 2025 in order to be considered a sustainable community, according to research performed by Fishkind & Associates.The growth strategy that emerged from visioning – one that will both protect Apopka’s small-town charm and prepare us for the future – is to focus growth around activity nodes. There are three immediate opportunities: Around the new Florida Hospital Apopka; in downtown Apopka and around the new Kelly Park Road interchange at the Wekiva Parkway.This strategy seeks to bring density to these three activity nodes. And density is what attracts high-quality restaurants and retailers.At the end of the next four years, my goal is to see Apopka becoming a destination for Class A office space, similar to what we see occurring in Lake Mary, Maitland, and Lake Nona. I also expect to see Apopka well along the road toward developing an eco-tourism industry, focusing on the assets of the Lake Apopka North Shore.Nelson: We have a great opportunity to partner with the UCF Incubator and the Apopka Chamber to maximize the HUB and Enterprise Zones right here in Apopka. As the Wekiva Parkway nears completion we should look to grow Logistics companies along with advanced manufacturing and white collar jobs right along the Parkway. We must add Class A office space in Apopka to attract these types of jobs. We must protect Apopka’s small-town feel for it is the reason that people fell in love with Apopka and want to live, work and play here in Apopka.Question 8: What is the most important issue facing Apopka today and into the future and how will you take it on?Nelson: Without a doubt, the most important issue facing Apopka is the out of control spending and the depletion of the reserves. We must get our financial house in order to give our residents and potential business owners the confidence that we won’t need to raise taxes and fees to balance our budget. Residents want the City to complete the Town Center on time and on budget, develop the Heart of Apopka (New Florida Hospital area) and begin the Kelly Park Crossing development. We also have a golden opportunity to turn the area around the Old Florida Hospital into a Winter Garden Village(Fowler’s Grove) type destination. Apopka has so much potential with the right vision and execution we will be able to look back twenty years from now and say we Grew Apopka Together.Kilsheimer:  The most important issue facing Apopka is how to protect and preserve the small-town quality of Apopka – the reason most of us move to Apopka – and prepare the City for the growth that lies ahead. Under my administration, we have sought to accomplish that by establishing the growth strategy mentioned above. Focusing growth and density in activity areas – around Florida Hospital, downtown Apopka and the Kelly Park Road area – will help us deal with growth – and keep the small-town atmosphere of Apopka that we all know and love. Share on Facebook Tweet on Twitter Reply Please enter your comment! March 15, 2018 at 10:03 am TAGSDecision Apopka 2018 Previous articleSmith draws on a diverse background in service to ApopkaNext articleNolan shakes-up the Seat #2 race Denise Connell RELATED ARTICLESMORE FROM AUTHOR Don’t forget we’re going to paint that Lodge and kill people running red lights! March 14, 2018 at 9:25 am Support conservation and fish with NEW Florida specialty license plate LEAVE A REPLY Cancel reply 2 COMMENTS Please enter your name here The Anatomy of Fear Save my name, email, and website in this browser for the next time I comment.last_img read more

Continue Reading

THINK publishes updated version of World Fundraising Markets report

first_img  154 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 THINK publishes updated version of World Fundraising Markets report Tagged with: Individual giving International Research / statistics Howard Lake | 17 October 2013 | News THINK Consulting Solutions has published a new edition of its World Fundraising Markets Report. First published in 2007, the fully revised 2013 edition covers 84 countries, which are divided into seven regional clusters.Published in association with Daryl Upsall Consulting International, the 2013 edition is designed to help organisations gain a thorough understanding of fundraising markets, which to invest in and how to identify where short and long-term opportunities might lie.Each country profile contains five tables which look at:PopulationEconomyCommunications and e-readinessInfrastructure for fundraisingFundraisingIt also analyses each country by major fundraising techniques that are practised there, including:Direct marketingFace to face/door to doorTelemarketingDRTVDigitalLegacy marketingThe World Fundraising Markets report is published as an interactive PDF, and is available for £4,000. However, members of national fundraising bodies such as the Institute of Fundraising and the European Fundraising Association can purchase it for £3,000. Advertisementcenter_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1  153 total views,  1 views today About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Continue Reading

‘Miracle’ boy found alive after falling down drainage pipe in Los Angeles: Fire official

first_imgLAFD(LOS ANGELES) — A 13-year-old boy was found alive this morning after falling through a wooden plank on Sunday and being washed away into a network of drainage pipes in Los Angeles, the Los Angeles Fire Department said.Jesse Hernandez, who was scared, cold and hungry when he was found, is “alert and talking,” the fire department said.Jesse was rescued early this morning after being trapped in the pipe system overnight.The accident happened at about 4:30 p.m. local time on Sunday when the boy fell about 25 feet into a sewer pipe, the fire department said.Jesse’s family was picnicking nearby as part of its annual Easter tradition before the boy went missing, fire department official said. The fire department told ABC station KABC in Los Angeles that Jesse and his friends had climbed over a chain-link fence near Griffith Park and entered an abandoned maintenance shed. Jesse then fell after a wooden plank he was standing on gave way.The pipes, which run parallel the Los Angeles River and cross under freeways, are 4 feet in diameter, the fire department said. The pipes are filled with 2 feet or more of liquid that moves at 15 mph, the fire department said.Teams from the Los Angeles Fire Department, Los Angeles Police Department, California Highway Patrol and experts from the Bureaus of Sanitation, Engineering and Contract Administration were among the officials who worked to analyze the 6,400-feet pipe system and conduct the search.Cameras used to inspect pipes for repair were employed as part of the rescue effort, the fire department said.The fire department, working with the Bureau of Sanitation, pinpointed the search area to a one-mile radius, and intelligence then narrowed the search down to a 6,400-foot section of pipe, LAFD Captain Erik Scott told ABC News.That’s where rescuers opened a maintenance hatch and found Jesse, who was scared, cold and hungry, Scott said. Jesse saw a glimpse of light when the sewage hatch was opening, Scott said. He commended the teen for being smart enough to stay by the light.As rescuers checked his vitals, crew members handed him a phone to call his mother, who was relieved to hear his voice, Scott said.Scott said crews were extremely concerned that Jesse wouldn’t be found safe due to the fall and the hazardous material inside the pipes. Scott said he has never seen so many men hold back their tears when they saved the teenager.Jesse was taken to a hospital to be evaluated, the fire department said.“We would like to thank the entire Hernandez family for their patience and optimism,” the department said. “From start to finish, this was an unprecedented team effort and the LAFD would like to recognize the excellent teamwork among all agencies involved.”Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Continue Reading