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For three generations, black Americans have learned the same cautionary tale about the police. And many, speaking on the fringes of George Floyd’s memorial ceremonies, say that nothing has changed in the US since the mid-20th century struggle for civil rights.”Some things have changed, but not enough has changed,” Norman Mitchell told AFP during a memorial service for Floyd at his former school, Jack Yates High, in Houston’s predominantly black Third Ward neighborhood.He acknowledged political advances made for the African American community, such as the election of Barack Obama as the first black president in the history of the US, but at the same time recounted the discrimination he and his children continue to face because of the color of their skin. “It took an individual kneeling on someone’s neck for eight minutes, 46 seconds for the world to see the issue that we’ve been fighting for the last 100 years,” said the 55-year-old.”When I was a young man, my father used to tell me to be very careful when I went out because there was a possibility that I could be stopped by the police,” Mitchell added.He said he “had this exact same conversation with” his sons, whose ages range from 17 to 32.Floyd’s agony as a white police officer knelt on his neck in a Minneapolis street hit Mitchell’s youngest son particularly hard. He “did not think it was real until May 25, and he knew the stories we had been sharing for years,” Mitchell said, whose own brother was killed by a Houston police officer in 1991. At 63 years old, Laura Allen was a child when marches and protests against police brutality started in the Texan city’s streets.”I was three or four years old with my family down (in) the streets, and we’re having to march for the same civil rights that we did years ago,” she said.”Not much has changed at all.”The former Yates student — class of 1975 — slammed the inequality and “double standard” of police policies in Houston, where “almost every black male I know have been profiled.” Scared of cops Like many others, Allen has countless stories of arbitrary arrests and intimidation. In 1980, she was detained by park police “for carrying a glass.”This year, she was pulled over during a trip to Alabama with her husband and daughter.”As soon as we crossed the Alabama border, we were instantly stopped. They ask, ‘Is this your car?'” recalled the small, gray-haired woman.Just as her father brought her to protests, so Allen accompanied her daughter, Leah, last week to a massive rally in Houston, where 70,000 people demanded justice for Floyd.At 28, Leah Allen has the same distrust of police officers as her mother, since “you never know what could happen.””I’m very scared of cops,” she said, recounting how police officers have followed her or leered sexually at her.Tragedy can strike at any moment. Syreeta Polley, 38, points to the death in 2016 of black motorist Philando Castile, who was shot by a police officer during a traffic stop near Saint Paul, Minnesota.As with Floyd, his shocking final moments were caught on video.Polley has taught her teenage daughter, Nia Madison, to “respect authority figures” and be “cautious.”The 17-year-old has started driving, and the lesson is clear: “Make sure you’re prepared if you’re being pulled over,” said Polley.”It’s 2020 and it’s a big step back, it pushes us back to the 50s and 60s and the stories my 92-year-old grandmother would tell,” Polley added.Even the Houston police chief, Art Acevedo, admitted that “there is a lot of work to do” to change the police force’s mindset.Houston-based rapper William James Dennis — or “Willie D” — hopes that Floyd’s death will serve as a catalyst.The black community “can use [the death of George Floyd] as a short window of opportunity to move America forward,” the artist and activist told AFP on Tuesday, during Floyd’s funeral. Topics :
Damien Keys at a property for sale in Mysterton. Picture: Evan MorganMEDIAN prices rose in 19 suburbs across Townsville as confidence in the region’s residential property market continues to grow.Rosslea experienced the biggest growth in median house prices jumping 47.9 per cent to $440,000 followed by Bluewater Park by 28.6 per cent to make the median house price $411,500.House prices in Castle Hill rose by 17.6 per cent followed by Mysterton at 16.9 per cent.REIQ Townsville zone chair and First National Nicholson principal Wayne Nicholson said prices rises in suburbs such as Rosslea, Oonoonba and Burdell could be largely attributed to new estates resulting in premium, modern homes being sold.He said price rises in Castle Hill could be due to high end buyers returning to the market and wanting to get value for money before the market improves too much.“If I was a high-end buyer I would be buying now,” he said.“If I had a couple of million to spend I’d be buying a $3 million house on Castle Hill for $2.4 million.”Keyes & Co principal Damien Keyes is selling 28 Chapman St, Mysterton and said the home was a prime example of properties that had been superbly renovated which was helping to increase prices in the suburb.“Mysterton has always been a brand unto itself and has always had that prestige element,” he said.“It’s known for it’s wider streets, characters homes and it’s not a high density suburb where you have units and duplexes everywhere.“It’s also known for it’s big block which has supported some high prices over the years and there has been some quite large renovations.”Mr Keyes said he expected the market to improve in 2018 and city fringe suburbs such as North Ward, South Townsville and Railway Estate were ones to watch and likely to appreciate.Explore Property Townsville agent Allison Gough who specialises in the city’s northern suburbs said she wasn’t surprised prices had risen in Bluewater Park as buyers were searching for acreage properties that offered an idyllic lifestyle.She said retail development in Deeragun and Burdell had also made the suburb a more convenient place to live.“There is real interest in acreage and it’s one of those parts of the market where we still have really good buyers,” she said.“You often find people are chasing a lifestyle and you still have really good schools in those outer pockets.“We now have the world’s biggest Bunnings at Burdell and those sorts of things make suburbs much more liveable and when big companies start to invest it brings a lot more confidence.”Townsville suburbs which have shown median price increases:Rosslea47.9 per cent$440,000Bluewater Park28.6 per cent$411,500Castle Hill17.6 per cent$952,500Mysterton16.9 per cent$459,000Oonoonba14.5 per cent$285,000Idalia12.7 per cent$480,000Nelly Bay6.9 per cent$350,000Alice River6.6 per cent$475,000Townsville City*6.4 per cent$375,000Currajong6.3 per cent$255,000North Ward*6.2 per cent$273,500Balgal BeachMore from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 20205 per cent$241,500Pallarenda4.8 per cent$440,000Burdell4.2 per cent$370,000West End4.2 per cent$350,000Garbutt3.9 per cent$265,000Railway Estate3.2 per cent$290,000Annandale2.9 per cent$396,250West End*2.9 per cent$180,000Wulguru1.9 per cent$265,000Rosslea*1.5 per cent$187,500* Denotes units, all others are houses
CONSTRUCTION of the long-planned 55 km light rail network in the Turkish city of Bursa moved a step closer in November, when the Municipality shortlisted five consortia to build and equip the 20·6 km initial stage. The five are:
Short-termism in capital allocation will not be fixed without fundamental structural change, Paul Myners, the former UK City minister and author of an influential report on institutional investment in the UK, said at an FCLT Global event in London yesterday.As per what the organisation’s acronym stands for, the event was about focusing capital on the long term, its benefits and how this can be achieved.The discussions mainly related to equity investing. Myners’s intervention came during a panel discussion that had already addressed aspects such as the rise of a professional class of corporate bond members and the role of investment consultants in the investment chain. Lord Myners addressing panellists at the FCLT Global event in LondonBefore that, Lars Dijkstra, CIO at Kempen Capital Management, had given an asset management perspective on long-termism in equity investing, saying the main mindset change needed from asset managers was a shift to focusing “on companies not securities”.Stefan Dunatov, CIO at Coal Pension Trustees Limited, the in-house executive for two closed defined benefit schemes worth some £20bn (€22.5bn), had earlier given an investor perspective, emphasising that in-house resourcing was “critical” but that care needed to be taken in decided what exactly should be in-sourced.“There’s an interesting risk in the asset-owner space, which is that asset owners are creating internal asset-management functions that replicate asset managers but that don’t fully reflect the asset owners’ needs or are not aligned to their objectives,” he said. “That’s an important challenge for the asset owner industry.”But for Myners, these and many other recommendations for solutions to short-termism would seem to amount to mere tinkering, given his call for more fundamental change.“I fully support what you are doing here,” he said. “You’re being pragmatic, but you’re staying within the mould of the existing market structure. Nobody’s rice bowl is being placed at risk by the current way of thinking.”He recommended thinking “more radically about whether the public company is the most appropriate model for many businesses, whether more high conviction and concentrated ownership might make more sense, whether much less turnover might be consistent with better outcomes”.These ideas, he added, “take me in the direction of making it difficult for open-ended equity funds to be offered with immediate liquidity for an asset class that should be inherently illiquid”.He added: “The problem is that your sponsorship doesn’t allow you to go that far, to consider the truly radical.”Radical ambitionsFCLT counts asset owners, asset managers and corporations as its members; yesterday’s event was hosted by Kempen Capital Management.Myners went on to criticise managing assets against a benchmark when this leads to fund managers taking underweight positions in securities of companies they are fundamentally not very convinced are a good investment.“When you manage against a benchmark, you have underweight positions because a company is too big not to hold it, and yet, if you look at it in cold light, it’s entirely illogical,” he said.“You are actually investing clients’ money in a security you believe will underperform but your conviction level is not high enough not to own it all.”He added: “Unless we begin to address the fact fund managers are paid to invest their clients’ money in shares they think will do worse than a neutrally picked random portfolio, we will not break some of the pressures that lead to the manifestation of short-termism.“It is almost impossible to explain to the man from Mars that you put your client’s money in a share you think is going to underperform a randomly selected portfolio, and your client pays you a fee for that.”Kempen’s Dijkstra said benchmarks were “a very good thing” when they were invented to provide transparency but that they had now “become the goal”.He suggested the active/passive debate was a red herring in the context of promoting long-termism and that “a new paradigm” was needed.“We need people to take personal leadership,” he said.Responding to Myners’s comments, Dunatov said passive investment had lowered fees, which was to be welcomed, but that it was important to ask “what is our belief system that says to us passive investing is the right thing to do”.With regard to Myners’s point about underweight positions, Dunatov said regulation had a lot to do with this, in that it had inhibited the ability of fund managers to create long-term relationships with companies.He questioned the assumption there should be a level playing field of public information.Responding to Myners’s comment about FCLT Global not being able to be radical enough, Sarah Keohane Williamson, chief executive at FCLT Global, said: “We’re actually really interested in doing things that are radical.”One of the reasons why the organisation was set up as an independent not-for-profit entity is to enable it to be radical, she said.On the question of whether it is better for a company to be publicly or privately owned, Williamson said there was a worrying phenomenon of companies in the US wanting to stay unlisted for as long as possible.“While that may be good for the company in question, it’s not good for our capital markets in general if the right answer is for growing companies, which are creating a great deal of value, to opt out of those markets.”Sarah Keohane Williamson is a keynote speaker at the IPE Conference & Awards in Berlin on 1-2 December
Finance Minister Jan Tore Sanner said: “Increased spending has been a necessity in the current situation – both to avoid an even sharper downturn and to help healthy companies through the crisis so they can create jobs and growth when normal circumstances return.”In the revised budget, the “structural oil-corrected budget deficit” – the term for the amount of petroleum revenues the government plans to use in the budget – is NOK419.6bn, up from NOK243.6bn in the October plan.However, 2020 income from petroleum activities was posted as just NOK125.8bn in the revised budget, less than half the NOK273bn foreseen in the original budget.At 4.2% of the GPFG, the proposed withdrawal this year breaks the 3% long-term fiscal guideline on the maximum amount of the fund the government should use in any one year – a rule it has stuck to for the last five years.“Getting back to the long-term guideline for using oil revenues could be difficult,” the government said in its budget document, but added that it was nevertheless important to restore sustainability in public finances.“In earlier periods of sharp increases in oil money use, the growth of the fund’s value made it easy to return to the 3% path. But now the prospect is for lower growth in fund capital,” it said.Back in 2009 and 2010, the government used a similarly high proportion of the fund as it proposes doing this year, at 4.2% and 4% of the GPFG’s capital respectively in those two annual budgets, according to official figures.However, at that time the fund’s value was only a quarter of its current level.Looking for IPE’s latest magazine? Read the digital edition here. Huge extra costs from the recent pandemic combined with drastic falls in oil revenue have forced Norway’s government to take a hitherto unseen amount out of the Government Pension Fund Global (GPFG) this year to balance the budget.According to the draft revised 2020 budget of Prime Minister Erna Solberg’s government published on Tuesday, NOK382bn (€34.6bn) will flow out of the now NOK10.1trn sovereign wealth fund this year, instead of the NOK3.9bn inflow it was set to receive when the budget was outlined in October.The figure has changed dramatically in the intervening six months partly because of a sharp increase in spending needs as a result of the COVID-19 outbreak, and also as a result of plummeting national petroleum revenues following the collapse of international oil prices.The government said its proposed 2020 revised budget called for the use of almost NOK420bn of petroleum revenues, which it said represented 4.2% of the GPFG’s capital.
RelatedPosts Barca president Bartomeu says he won’t go to war anymore with Messi Bale completes Tottenham return from Real Madrid Live stream Premier League, La Liga, Serie A on Showmax Pro this weekend Lionel Messi scored four goals as Barcelona thumped Eibar 5-0 at Camp Nou to move back to the top of La Liga ahead of Real Madrid’s game at Levante on Saturday. Messi ended a four-game wait for a league goal in the 13th minute when he nutmegged Anaitz Arbilla before lofting the ball over goalkeeper Marko Dmitrovic. The Argentine added his second with a calm finish from a tight angle after good work from Sergio Busquets and Arturo Vidal. He then completed his hat trick in the 39th minute, rolling in from six yards. Substitute Martin Braithwaite, on his debut for the club, was then involved in the final two goals. He set up Messi’s fourth late on before Arthur scored the fifth from close range in the 89th minute after Dmitrovic had saved from Braithwaite.Tags: Barcelona FCEibarLa LigaLionel Messi
Scudamore and the Premier League have encountered a growing tide of criticism with a number of England women internationals calling for action against the league’s chief over sexist emails that he sent to a lawyer friend. Now Rabbatts, who also chairs the FA’s inclusion advisory board (IAB) which is meeting on Tuesday to discuss the case, has issued a statement saying there is a lack of good governance in the league and a culture at the top that “demeans women” and discourages them from being part of football administration. Press Association Meanwhile, England women internationals have added their voice to the criticism. Everton women’s goalkeeper Rachel Brown-Finnis said the emails were an “insult to all women” and that Scudamore should be sanctioned, while former England captain Casey Stoney said his position was now “difficult”. The group Women In Football has written to all 20 Premier League clubs and main sponsors asking for an “independent review” of the league’s practices. Stoney said in the Daily Telegraph: “We are trying to get to a world without discrimination and to have somebody in such a high position in football making derogatory comments about females is not acceptable. “How would he feel if these comments were written about his daughters? “It is up to the powers that be whether he stays on but talking about women in such a derogatory way makes his position very difficult. Whether it’s a private email or not, he has written them and he has only apologised because he has been caught.” Brown-Finnis told BBC Sport: “It’s not just about women who are involved in football, it was an insult to all women. “However jokey he was trying to be with that, it’s just totally unacceptable in this day and age. “It’s zero defence for me. Private emails when you are the head of the Premier League don’t really exist. “Is a sorry enough? Probably not, but I do think the way to move forward is for the Premier League to follow its protocols just like it would with other employees and I’m sure it has policies which would sanction him appropriately for his misconduct.” The emails referred to women in derogatory terms, contained sexual innuendoes, and made jokes about “female irrationality”. After the story broke in the Sunday Mirror, Scudamore issued a statement apologising for the emails, which were sent from his Premier League email account and seen by a former temporary PA who leaked them to the newspaper. Rabbatts said in a statement released to Press Association Sport: “No-one can doubt the tremendous achievements of the Premier League in creating one of the world’s great footballing competitions. But with that success and the massive public interest it generates comes the obligation to behave responsibly and have in place proper lines of accountability and good governance. “Sadly recent events appear to show that these things are currently lacking in the administration of the Premier League and indeed there is growing evidence of a closed culture of sexism, symbolised in the email exchanges which have been made public. “It is increasingly clear that steps are needed as a matter of urgency to review governance at the Premier League with a view to improving accountability and tackling head on a culture that demeans women and seems to discourage their involvement in the game’s administration. “These challenges go beyond the current situation of chief executive Richard Scudamore. However, if the League are to move forward in a positive way then he and they should give serious consideration to his position in the coming days.” Rabbatts said it was important for the women’s game that changes were made. She added: “I personally hope that progress can be made on all of these fronts so that we can feel confident that the leaders of football are accountable for their actions and support a culture that genuinely welcomes the participation of women and girls in our national game.” Sponsor Barclays has expressed its disappointment to the Premier League, which has raised the stakes ahead of a meeting of the league’s audit and remuneration committee, chaired by Chelsea chairman Bruce Buck, on Monday to discuss the case. Buck’s involvement has also raised questions, as he is known to be a friend and shooting partner of Scudamore’s. The Premier League is reported to have brought in Milltown Partners public relations agency to advise it on handling the crisis – and it also reported that the PR company works for Chelsea too. Richard Scudamore should consider his position in light of “growing evidence of a closed culture of sexism” at the Premier League, the Football Association’s independent board member Heather Rabbatts has stated.
The winger was arrested in March after he was accused of sexual activity with a 15-year-old girl. The three counts of sexual activity with a child were alleged to have taken place on one night in January at two locations in County Durham, while the offence of meeting a child after sexual grooming was alleged to have happened between December and February. The winger, who has played 12 times for England, lives in Castle Eden, County Durham. Born in Sunderland, Johnson began his career at Middlesbrough before moving to Manchester City and then Sunderland for £10million in 2012. It was agreed in court that the trial would go ahead at Durham and Judge Christopher Prince set a date of August 24. Johnson left the court, having been granted conditional bail, and was bundled into a blacked-out Range Rover and driven away. Sunderland midfielder Adam Johnson has denied three charges of sexual activity with a girl under 16 in his first appearance at Crown Court. The 27-year-old England international, who appeared in the dock at Durham Crown Court dressed in a grey suit and white shirt, also denied one charge of grooming. Johnson entered the court surrounded by his legal team, and spoke to enter his not guilty pleas. Press Association