Money-purchase move reflects modern careers

first_imgMoney-purchase move reflects modern careersOn 24 Apr 2001 in Personnel Today Related posts:No related photos. Comments are closed. Previous Article Next Article BT has closed its final-salarypension scheme, but it has denied that the move is a bid to cut costs.The firm’s £25bnscheme is thought to be one of the biggest in the country, but from this monthall new employees will only be able to join BT’s money-purchase pension scheme.Under final-salarypension schemes, the pension an individual receives is based on their salary ator near retirement, whereas with money-purchase schemes the value is determinedby how much is put in and the performance of the stockmarket.A spokesman for BT,which is trying to reduce its £30bn debt, said the company had made the changebecause money purchase pension schemes were better suited to today’sfast-moving labour market.She said,”Working patterns are changing. Now people expect to have several differentjobs during their lifetime and they are looking for a pension that reflectsthat. The defined contribution approach was more appropriate for them.”The spokesman said thechanges had been made in consultation with unions and claimed the money purchasescheme would cost BT about the same as the final salary scheme.BT is the second majorUK employer to close its final-salary scheme to new employees following ICI,which recently adopted a similar strategy.Roger Key, a partnerat consulting actuaries Watson Wyatt, said the move to money-purchase pensionsmeant uncertainty for employees. “From a company’spoint of view, final-salary pension schemes have a volatile cost in terms ofthe contributions it has to pay,” he said.”Undermoney-purchase schemes, the investment risk is transferred to the employee. Ifthey retire at the right time they will get a good pension, if they retire atthe wrong time they won’t.”Key saidmoney-purchase schemes are better for people at the start of their careers whoare unlikely to stay in the same job. last_img read more

Vidic loses red card appeal

first_img Vidic’s claim for wrongful dismissal was rejected by an independent regulatory commission on Tuesday. He was sent off in United’s 3-1 defeat on Sunday for a foul on Eden Hazard. An FA statement read: “The player’s three-match suspension commences with immediate effect.” The 32-year-old Red Devils captain will now miss the Capital One Cup semi-final second leg against Sunderland on Wednesday and Barclays Premier League games at home to Cardiff and away to Stoke. His absence is a blow to David Moyes’ struggling side, whose season suffered another setback in their comprehensive defeat by Chelsea, which left them 14 points off league leaders Arsenal and six off the Champions League places. The Serbian will be missed by a defence which has looked particularly vulnerable in recent matches, having conceded nine goals in five games. Meanwhile, Vidic has revealed he gave his first League Cup winners’ medal to former team-mate Giuseppe Rossi. Two months after his arrival from Spartak Moscow, Vidic was introduced as an 83rd-minute substitute as United hammered Wigan at the Millennium Stadium in 2006. However, given Vidic’s only other appearance in the competition that season was on his debut in the semi-final against Blackburn, and that was only for four minutes, the Serbia star felt there were others more deserving of the medal. And given Rossi had started three matches earlier in the competition, and not even made the bench in Cardiff, Vidic opted to hand the medal over. “I only played for a few minutes in the final and got the medal and, afterwards, even though it was a nice feeling and I felt part of the team, I gave my medal to Giuseppe Rossi because I felt it would be better to give it to someone who had played more minutes than me in the competition,” Vidic told “He deserved it.” Press Associationcenter_img Manchester United defender Nemanja Vidic has been banned for three matches after losing his appeal against his red card against Chelsea, the Football Association has announced.last_img read more

Joburg second in global study

first_img26 March 2008Johannesburg is ranked the second least vulnerable city to urbanisation and the environment in a new study of major centres in Asia, the Middle East and Africa.This is according to the Worldwide Centres of Commerce Index, which was conducted as a result of the United Nations Population Fund concluding in 2006 that the world’s urban population exceeded its rural population, making 2007 the first year in which humans existed as an “urban species”.Joburg was included as one of 21 cities ranked among the top 50 of the world’s centres of commerce.In 2007, the MasterCard Worldwide Urbanization and Environmental Challenges report launched its first Worldwide Centres of Commerce Index. The report ranked leading global cities along three dimensions, providing a first ever assessment of how these cities contribute to global commerce.The report looked at the vulnerability of 21 cities and key environmental factors like air and water pollution that directly affect the quality of life in those cities, and the risks to the health and safety of their residents. The sustainability of a city’s growth is closely linked to how that city maintains its environment.“With urbanisation and urban living comes a new challenge, that of protecting and improving the urban environment. Nowhere is this more acute and pressing than across the Asia/Pacific, Middle East and Africa region,” says the report.Melbourne in Australia ranks top with a score of 2.03 (the highest possible score being 1); Johannesburg comes in second at 2.37, with Singapore ranked third with 2.40. At the bottom of the ranking is Mumbai in India with a score of 7.78.The author of the report, Dr Yuwa Hedrick-Wong, is quoted by I-Net Bridge as saying that the overall picture for Johannesburg is that “by and large the city has done exceptionally well in creating a high quality environment within its urban setting, managing increasing population growth and a degree of unpredictable environmental impacts to ensure a good quality of life for residents”.Hedrick-Wong cautions, however, that this unpredictability means the city should not become complacent.The assessment took three dimensions into consideration: environmental indicators that are largely government controlled; environmental indicators that are affected by climate change and indirectly government controlled; and indicators of “environmental risks”.Dimension 1Water potability, water availability, the sewage system, waste removal, air quality, and infectious diseases are the conditions taken into consideration in Dimension 1. This was considered the most important ranking. Joburg is ranked sixth on this dimension.Cities that rank lowest in environmental quality suffer from very high levels of air pollution, particularly emissions from vehicles, poor waste and sewage removal and coverage, and high instances of infectious diseases. Cities like New Delhi, Mumbai, Jakarta and Beijing score badly on potability. In Beirut’s case, degraded environmental services are caused by political turbulence.Dimension 2Indicators in this dimension are not directly considered to be under government control and are largely subject to the impact from climate change. These include the rise of sea level, water scarcity due to drought, severe storms, and fires. Joburg ranks fourth in dimension 2.“The impact of climate change is likely to be especially marked in Bangkok, Jakarta, Shanghai and Sydney due to flooding from a rise in sea level; they may be less marked in Singapore, Tokyo and Melbourne where adaptive strategies may be easier to implement,” the report states.Dimension 3Indicators here are those considered to be “highly unpredictable”, with an immediate impact on the environment of the cities. They include earthquakes, typhoons, hurricanes, and volcanic eruptions.Johannesburg ranks the second lowest in terms of risk of these factors influencing the city and its residents.Richer cities, with more disposable income and better educated people to manage the city, are likely to score higher. This also applies to “emerging” cities like Johannesburg, Seoul and Kuala Lumpur, says the report.It would appear that not having been built on a major river or positioned as a port city has placed Joburg in an advantageous position. Often, large industries dump their waste into rivers or the sea, making these cities vulnerable to the effects of that pollution.Joburg is also not vulnerable to natural events like hurricanes, earthquakes or volcanic eruptions.Hedrick-Wong said that Joburg’s “overall ranking of second place reflects the city’s geographic location which is well protected from most adverse environmental factors that are either outside of the government’s control or highly unpredictable, with one notable exception – drought”.Source: City of Johannesburglast_img read more

Ohio Soybean Council announces annual meeting

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The Ohio Soybean Council (OSC) will hold its annual meeting on Monday, November 28, 2016 at the Columbus Marriott Northwest in Dublin, Ohio. The meeting will begin at 3:00 p.m. and all Ohio soybean farmers are invited to attend.The meeting will include a discussion of Ohio soybean checkoff investments, audit review and acceptance of new members of the OSC Board of Trustees.For meeting information, contact OSC at 888-769-6446.last_img

Calculating Heating Degree Days

first_img2012-1343,328 — 2,77515.61— 46,518 Using degree daysLet’s say that hypothetical of yours is in Atlanta, and you did the work in the summer of 2013. Then you download my spreadsheet and find your total energy usage for those two years. Let’s keep it simple here and just look at the effect on winter heating bills. Here are the numbers for November through March of the pre- and post-improvement years: 2013-1440,987 -5.4% 3,37212.16 -22.1% 36,237 What is a degree day?A degree day is a combination of time and temperature difference (ΔT). The basic idea behind it is to give you an indication of how much heating or cooling a building might need. (Emphasis on the “might” there.) Degree days are just an estimate of heating and cooling needs, and we’ll look at some of the reasons why you need to keep them in the proper perspective.A good starting place is the simplified† equation for heat flow shown as Equation 1 (see Image #2, below)Now, this equation actually give you the rate of heat flow. In the Imperial system of units that we use here in the U.S., the result will be in BTU/hour. So if we multiply that rate by the time period, as shown in Equation 2 (see Image #3, below), we end up with the quantity of heat flow in BTU.Yeah, I know both equations here use the same variable, Q, for rate of heat flow and quantity of heat flow. The first equation will usually have a dot over the Q in physics or engineering books, but let’s gloss over that and get to the main point here.If we take the (ΔT x t) factor at the end of the second equation and use an appropriate base temperature, we can call the combination degree days. For example, in the U.S. we typically use a base temperature of 65°F when calculating heating degree days. (More about that in Part 2 of this series on degree days.) If the temperature stays constant at 64°F for one full day, that would give us one heating degree day (HDD). If the temperature is 60°F for a full day, we get 5 HDD.Got it? It’s just the difference between the outdoor temperature and the base temperature multiplied by the time it’s at that temperature. Many sources of degree days use the mean daily temperature. Instead of being a constant 64°F or 60°F above, you get the same result if the mean temperature for a day is 64°F or 60°F.Using mean hourly temperatures would be a better approach. Using mean minutely (is that a word?) temperatures would get you even closer. (If you’ve had some calculus, you know where this is headed, right?) The smaller you can make those time intervals, the more accurate will be your result for degree days. (OK, calculus lovers, we’re not going all the way there. Sorry. It is left as an exercise for the reader to do a Riemann sum with your temperature data and limit the size of the intervals to zero yourself.)When we combine ΔT and t like that, we can substitute degree days (either HDD, CDD, or total DD) into the equation. The result is Equation 3 below. This is the form of the equation I used in my recent article on the diminishing returns of adding more insulation. Here’s where the power of normalization shines. If you look just at the reduction in kilowatt-hours, it looks like a 5.4% reduction. When we normalize for the colder winter post-improvement, though, you can see that we really reduced the consumption by 22.1%.That works in the other direction as well. If the post-improvement weather is milder than what you had before, you may think you got a bigger benefit than you really did if you look only at the change in consumption without normalizing to degree days. Finding degree daysMy favorite site for generating degree days is It allows you to generate degree days for whatever base temperature you want to use. (See a discussion of that issue in Part 2 of this series.) I’ve been tracking heating degree days for Atlanta with data from for the previous seven years, and you can see my graph below.You can find degree days in other places as well.The Weather Underground website has tons of weather data, including degree days. Go to their page called Historical Weather and enter your location and the date. Once you get the data, you can select different time frames to see more than one day at a time.I prefer because they base their calculations on more than just the average daily temperature. (I’ll explain further in Part 2.) It’s also easier to get what you want if what you want is degree days. What are degree days good for?I’ve already mentioned one of the uses of degree days, but let’s go ahead and make a list here.Normalizing energy use for changes in weather. This is what I referred to above and will illustrate below. If you make energy improvements to your home, degree days help you discover the real effect of the improvements.Comparing one climate to another. Degree days are one important measure. Design temperatures are another.Comparing the energy efficiency of one home to another home in a different climate. Just as you can normalize to weather changes in one location, you can get a feel for differences in the energy efficiency of homes in different climates. Year         kWh   % Change  HDD  kWh/HDD   % Change   Normalized kWh Complicating factorsIn Part 2 of this series, we’ll go further into the discussion of the base temperature and some other complicating factors. If you want to read ahead, check out the the article, Degree Days – Handle with Care!, on the Energy Lens website.Despite the complicating factors and limitations, degree days are quite a useful invention. Whether you’re a homeowner just trying to understand your energy bills or a home energy pro who wants to know everything, it can be helpful to understand how they’re calculated and what they do. 2013-1440,987 kWhcenter_img Year            kWh Let’s say you did some work on your home to make it more energy-efficient: air sealing, more attic insulation, and a duct system retrofit. You’ve got your energy bills for 12 months before and 12 months after you did the work, and now you want to see how much energy you saved. So you sit down with all 24 months worth of utility bills, convert everything to a common unit if you use more than one type of fuel, and take a look at the numbers.Unless, however, you take into account another important factor, you may be led to incorrect conclusions.You can’t simply compare the total amount of energy you used in the year before and the year after you made the energy improvements. As it turns out, weather changes from year to year, so an abnormally warm winter before the improvements followed by a really cold winter after the work might cause your home to use even more energy than before. But if you adjust for the difference in weather, you should be able to see the effects of the increased energy efficiency.That’s where heating degree days and, to a lesser extent, cooling degree days come in. 2012-1343,328 kWh The reduction in energy consumption is the difference between the two numbers, or 2,341 kWh. At $0.12/kWh, the savings amounts to about $281 per year. Actually, it’s even worse than it first appears because a good chunk of those kilowatt-hours were actually from the natural gas used, and gas is really cheap these days. That’ll push the annual savings down below $200, making the return-on-investment not so appealing. (Of course, the actual ROI includes more than a financial return. With a good home performance retrofit, your home is more comfortable and healthful, too.)We still need to account for the change in weather from one year to the next, though. If we expand the table to include heating degree days and some calculations based on it, we get this: It’s not a unit of timeOne point of confusion for many people is that “degree days” sounds like a unit of time. It’s not. That’s why we can have 5 heating degree days in one day and well more than 365 degree days in a year. Atlanta, Georgia has about 3,000 heating degree days each year (65° F base temperature).It’s not a unit of time. It’s a combination of time and temperature: ΔT x t. RELATED ARTICLES Choosing a Base Temperature for Degree DaysAll About Climate ZonesHow to Perform a Heat-Loss Calculation — Part 1How to Perform a Heat-Loss Calculation — Part 2Energy Modeling Isn’t Very AccurateWhich Building Energy Statistics Make the Most Sense? Q&A: How do deviations in average winter temperature affect energy consumption? Allison Bailes of Decatur, Georgia, is a speaker, writer, energy consultant, RESNET-certified trainer, and the author of the Energy Vanguard Blog. Follow him on Twitter at @EnergyVanguard. Footnote† To do heat flow right, you’ve got to use the full-blown partial differential equation (shown below) because the variables above actually vary over a smaller scale than a whole assembly. The hygrothermal modeling tool, WUFI, solves the full equation numerically and gives you a lot of power to manipulate the inputs…and a lot of opportunities to get screwy answers if you don’t know what you’re doing. The simplified form above is fine for a lot of things.last_img read more

LA mayor ponders 2028 Games in exchange for youth funding

first_imgIn this file photo, Los Angeles Mayor Eric Garcetti, center, speaks during a news conference in Los Angeles. Los Angeles leaders this week are trying to sell their plan to host the Olympic Games to visiting members of the International Olympic Committee. APLOS ANGELES — The mayor of Los Angeles is talking to Olympic leaders about having his city wait until 2028 to host the Summer Games in exchange for funding for youth sports programs.At a news conference this week, Mayor Eric Garcetti said he and Olympic leaders have discussed “what it would take for us to consider one of us going first and the other going second” — a reference to the contest between Paris and Los Angeles for the 2024 Olympics.ADVERTISEMENT BREAKING: Cop killed, 11 hurt in Misamis Oriental grenade blast UEFA will ‘fight’ for Europe’s right to host 2030 World Cup Cayetano dares Lacson, Drilon to take lie-detector test: Wala akong kinita sa SEA Games Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Pagasa: Storm intensifies as it nears PAR BSP survey: PH banks see bright horizon amid dark global recession clouds International Olympic Committee president Thomas Bach wants to award both the 2024 and 2028 Games, and while each city has repeatedly stressed its bid is only for 2024, Garcetti is now acknowledging discussions with the IOC about 2028.“My dream is not so much just to bring the Olympics here, but is to bring youth sports for free to every zip code,” Garcetti said.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSMalditas save PH from shutoutThe IOC meets next week to discuss the possibility of awarding both Olympics later this year. Bach wants to avoid another bidding debacle the likes of which he’s seen this year, with Hamburg, Germany; Budapest, Hungary; and Rome all dropping out. Los Angeles, meanwhile, was the U.S. Olympic Committee’s second choice, after Boston initially got the nod but then saw that bid flounder because of lack of public support.Officials from the LA 2024 bid did not have comment on the Garcetti news conference. Palace: Duterte to hear out security execs on alleged China control of NGCP Every 18 seconds someone is diagnosed with HIV MOST READ BREAKING: Cop killed, 11 hurt in Misamis Oriental grenade blast LATEST STORIES Lacson: SEA Games fund put in foundation like ‘Napoles case’ Don’t miss out on the latest news and information. Sports Related Videospowered by AdSparcRead Next View commentslast_img read more

PO Ferries English Channel Ships Go Into Overdrive

first_imgzoom UK-based ferry operator P&O Ferries carried more freight across the English Channel in the first three months of the year than in any first quarter in its modern history. The ferry and logistics company’s six ships on the Dover-Calais route transported 361,100 lorries during January, February and March.This figure was almost 11 per cent higher than the corresponding period in 2016 and nine per cent higher than the previous best ever Q1 in 2012.P&O Ferries also set individual monthly freight records in January, February and March respectively, the company said.Janette Bell, Managing Director of P&O Ferries, said: “Our performance during Q1 shows just how many businesses across Europe rely – either directly or indirectly – on the services we provide. We expect demand for cross-Channel transport to increase, driven by a rising population and the continuing strength of the British economy. It is essential for our customers from all parts of Europe that maintaining secure, safe and efficient passage through the ports of Dover and Calais is a priority for both sides negotiating Britain’s departure from the European Union.” During the quarter, two of P&O Ferries’ English Channel ships – the Pride of Canterbury and the Pride of Burgundy – spent several weeks each in Poland’s Remontowa shipyard for life extension work. Both vessels, which weigh up to 30,000 tons, have now been relaunched and are back in service.last_img read more

Coast Guard evacuates 89yearold Canadian from cruise ship

first_imgNORFOLK, Va. – An 89-year-old Canadian woman has been evacuated from a cruise ship off the Atlantic coast after exhibiting signs of a heart attack.The Coast Guard said Sunday that it responded to a call Saturday afternoon from the cruise ship Insignia, which was 80 miles southeast of Cape Lookout, North Carolina.A helicopter from the Coast Guard Station in Elizabeth City, North Carolina responded and arrived at the ship about two hours later.The woman, a Canadian, was hoisted to the helicopter and taken to Sentara Norfolk General Hospital for treatment.A nurse from the cruise ship accompanied her.Oceana Cruises’ website describes the Insignia as an 11-deck ship that accommodates nearly 700 cruisers.The coast guard and the hospital couldn’t say where in Canada the woman was from.last_img read more

Eddie the Eagle Vote for another Olympics

first_imgCALGARY – The Yes side of the Calgary 2026 bid is getting a boost from a huge ’88 legacy.Michael “Eddie” Edwards, better known as Eddie the Eagle, landed at the Calgary International Airport Sunday, telling Calgarians to “check the little box that says ‘yes’” on Nov. 13. “Vote for another Olympics!” he smiled, adding the Winter Games are a very special event.The Brit who owned hearts of Calgarians and Canadians alike in 1988 told a group of admirers and reporters waiting at YYC it’s great to be back in Calgary.“I was in Calgary for the Stampede in July so it’s always nice to come back to Calgary… I feel like this is my home–it’s where Eddie the Eagle was born shall I say.”The Eagle has landed at @FlyYYC! Eddie the Eagle is in Calgary to share his support for a Calgary 2026 Olympic Bid @660NEWS. @BTCityNewsCGY— Kass Patterson (@kassonair) November 4, 2018He is not the first athlete to support the yes side of the debate; Jarome Iginla, Haley Wickenheiser, Jesse Lumsden, and Kaillie Humphries are a just a handful of the hometown heroes pushing for a yes vote.Eddie says an Olympic games can bring a lot to a city, like enthusiasm, excitement, love of sports, and camaraderie, pointing to the ’88 games. “I think back…Calgarians were so proud to host the Olympic Games. It was such a special Olympics. I’m really biased,” he said, adding it was his dream to compete in a games.“It was a fantastic Olympics.” As far as the magic of a games goes, Eddie told CityNews the Olympics are not made special by the “characters” that come out of it.READ MORE: Calgary Olympic debate shifting towards plebiscite arguments“I’m not sure if there will be other characters like myself anymore at the Olympics, but that doesn’t make the Olympics any less special. I think all the athletes that go there it’s their dream to be there and they want to do well and it’s always a very special event, and I’m hoping that will remain so despite other difficulties.”He says hopefully a 2026 Olympics will be bigger and than the games that put him on the map and says it’s time to put Calgary back in the spotlight. He added the 2026 games don’t necessarily mean Calgary needs to build new facilities. “Why build new ski jumps if you’ve already got them? Use what you’ve got.”READ MORE: The debate over Olympic infrastructure for a Calgary 2026 bidIf Calgary does vote yes and moves forward with a bid, Eddie says he will absolutely be there for it eight years from now.“Of course–if I’m still alive!” he joked.Calgarians vote in a non-binding plebiscite Nov. 13.-with files from Kass Patterson, 660 NEWS and Derek Brade, CityNewslast_img read more