Tendered operation cuts costs

first_imgON JANUARY 1 Stockholm’s narrow-gauge commuter services transfer to private-sector management. Bus operator Linjebuss and Adtranz will run the three 891mm gauge routes for five years under contract to AB Storstockholms Lokaltrafik. Over the past five years, SL has contracted out operation of tram, bus and metro routes in a rolling programme. But the Roslagsbanan is the first rail route to change hands, the other lines having been won by SL’s existing subsidiaries.Over the next two years, SL is due to award further rail contracts worth between SKr2bn and SKr3bn. Pre-qualification bids have been invited for operation of the horseshoe-shaped light rail network now under construction in the south and west of the city, and the Nockebybanan tramway which will share depot facilities with the new line at Alvik. Formal tenders will be called in the next two or three months, with the winning bidder to be selected by the second half of 1998. This will leave time for the winner to help with final preparations and start crew training ahead of the opening of the line in August 1999.Bids are also to be called this year for the 185route-km network of commuter services radiating from Stockholm Central to Nynäshamn, Slast_img read more

DAX companies’ liabilities reach record high

first_imgPension liabilities of German companies listed in the DAX index rose to a “historic high” of €396bn at the end of 2016, according to Mercer.The figure compares to €361bn in 2015, an increase of 9.7%.Mercer analysts looked at 20 annual reports covering almost 80% of pension liabilities in the index.This increase is only visible on the companies’ books, as some of their pension plans are unfunded and there is no obligation to hold reserves up to the level of liabilities. Interest rates hit a low in September last year, which especially hurt company accounts with a financial year ending in that month.This was particularly hard on ThyssenKrupp which had to calculate its liabilities with a 1.3% discount rate (“Rechnungszins”). The development could be significant in any possible negotiations with Tata Steel on a takeover.Siemens and Infineon – which also have financial years ending in September – had to lower their discount rate to 1%.Overall the lower rate applied to DAX liabilities led to actuarial losses amounting to around €44bn.“But these losses do not affect the annual results as they have to be listed separately with no effect on earnings,” explained Thomas Hagemann, chief actuary at Mercer Germany.Falling interest rates helped German DAX companies’ bond portfolios create more return, as did favourable equity market developments.Pension assets as calculated under IFRS increased from €236bn to €251bn. Therefore, the average funding level remained almost the same, only dropping slightly from 65% to 63%.According to Carl-Heinrich Kehr, principal and investment expert at Mercer Germany, broad diversification helped last year: “High yield bonds profited in their annual return of 14.8% from the fact that there were fewer defaults than expected.”He emphasised the contribution of emerging market debt (10.2%) and equities (14.9%) – especially compared to European equities (4.5%) – in the wake of Brexit.last_img read more

Flow Design renews awards for drivers in five IMCA divisions

first_imgWELLINGTON, Kan. – Flow Design rewards the accomplishments of drivers in five IMCA divisions again in 2016.First through fifth place finishers in Xtreme Motor Sports IMCA Modified, IMCA Late Model, IMCA Sunoco Stock Car, Karl Chevrolet Northern SportMod and Scoggin-Dickey Parts Center Southern SportMod national point standings all receive carburetor spacers from the Wellington, Kan., manufacturer.Sixth through 10th place drivers in the same divisions all receive certificates good for 50 percent off the purchase of a carb spacer.Flow Design is in its ninth season as an IMCA marketing partner. Information about Flow Design-made products is avail­able by calling 620 326-3537 and at the www.taylormadeproformance.com website.“The Flow Design carburetor spacers are quality pieces we’ve relied on as part of our contingency offerings for a number of years,” observed IMCA Marketing Director Kevin Yoder. “They make an excellent product and one we’re confident in including in our rules.”last_img read more

49ers apologize for leaving Kaepernick photos out of gallery

first_imgMOST READ Don’t miss out on the latest news and information. The 49ers supported Kaepernick in 2016 when he decided to kneel during the national anthem to protest social and racial injustice and matched his $1 million contribution toward programs for social equality.Kaepernick opted out of his contract the following offseason when the 49ers told him they planned to cut him. Kaepernick has been unable to find another team to play for the past two seasons.Coach Kyle Shanahan was asked about bringing Kaepernick back after starting quarterback Jimmy Garoppolo went down with a season-ending knee injury and said he still didn’t fit the team’s offense.“I made that decision just with the style of offense that we wanted to go with,” Shanahan said on Sept. 24. “That’s kind of what I said last year and it’s kind of the same situation now. If you’re thinking of if there’d be a different discussion now, I always look into what style of offense I want to do, what style of offense we’ve been doing for the last two years.”ADVERTISEMENT Nadine Lustre’s phone stolen in Brazil Butler misses Wolves shootaround amid trade-demand drama Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award LATEST STORIES Phivolcs: Slim probability of Taal Volcano caldera eruption Gov’t to employ 6,000 displaced by Taal Allen Durham still determined to help Meralco win 1st PBA title Japeth Aguilar embraces role, gets rewarded with Finals MVP plum View comments Sports Related Videospowered by AdSparcRead Next The team later added photos of Kaepernick. This is the first photo gallery the team has run this year but pictures of Kaepernick were included in all seven photo galleries posted on the team’s website last year.“Unfortunately there were a handful of obvious misses in this gallery posted by our website team and we appreciate them being brought to our attention,” the team said in a statement. “The 49ers organization has tremendous respect and gratitude for the contributions Colin made to our team over the years.”FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissKaepernick set an NFL record for quarterbacks by rushing for 181 yards in a playoff win against Green Bay on Jan. 12, 2013, threw for 413 yards in a season-opening win against the Packers in 2013, and led a winning drive to win a playoff game in Green Bay on Jan. 5, 2014.“We have fond memories of those games and that should have been displayed on our website,” the team said. “This oversight does not properly reflect the appreciation our ownership and this team have for Colin.” Tim Cone, Ginebra set their sights on elusive All-Filipino crown Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Former NFL quarterback Colin Kaepernick, right, hugs comedian Dave Chappelle, left, on stage during W.E.B. Du Bois Medal award ceremonies, Thursday, Oct. 11, 2018, at Harvard University, in Cambridge, Mass. Kaepernick and Chappelle are among eight recipients of Harvard University’s W.E.B. Du Bois Medals in 2018. Harvard has awarded the medal since 2000 to people whose work has contributed to African and African-American culture. (AP Photo/Steven Senne)SANTA CLARA, Calif. — The San Francisco 49ers are apologizing for initially leaving Colin Kaepernick out of a photo gallery celebrating the team’s history against the Green Bay Packers.The team posted dozens of photos on its website of past games against the Packers before the teams meet again Monday night without at first including any of Kaepernick.ADVERTISEMENT Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anewlast_img read more

Area teams in running for A-Rod

first_imgHandicapping these sweepstakes is sure to be tricky. The Dodgers’ chances of landing Rodriguez certainly have been altered with the news that the team might make Joe Torre its next manager. Rodriguez and Torre were together in the Bronx for the past four seasons. During that time, Rodriguez averaged 43 home runs and 128 RBIs per season. Dodgers officials were unavailable for comment as they presumably tend to the Torre proceedings. Speculation as to where Rodriguez will land next season has been going on all summer. It intensified during the deciding game of the World Series on Sunday night, when Boras officially said his client would opt out of his contract. That means Rodriguez will walk away from a guaranteed $72 million. He had three years remaining on a record-breaking, 10-year, $252 million deal he signed with the Texas Rangers before the 2001 season. According to reports, Major League Baseball on Monday received the letter that officially requested Rodriguez’s release from the deal. The opt-out clause was written into the contract. The Angels have made it no secret that they are interested in upgrading their offensive attack. But as dominating as he can be, Rodriguez might not fit into their plans. Angels owner Arte Moreno has repeatedly said that even though he respects Rodriguez as a player, he has no interest in placing 25 percent of the team’s payroll in the hands of one player. Indications are that Rodriguez could be seeking anywhere from $200 million to $240 million over eight seasons. Asked about Rodriguez at the conclusion of the season, Manager Mike Scioscia did not sound as if he is expecting to pencil Rodriguez’s name in the 2008 lineup. “I would speak to what Arte said, and I agree to what he says,” new Angels general manager Tony Reagins said. “You want to position yourself to make your club better. For the club and the fans, if it makes sense, then you will explore the opportunity.” This might not make sense, though. “Obviously we will do things within reason,” Reagins said, declining to speak about Rodriguez in particular. “There is not an endless bank here. It has to make economic sense and it has to make baseball sense.” According to reports, the Boston Red Sox, Detroit Tigers, New York Mets and San Francisco Giants are expected to be interested in Rodriguez along with the Angels and Dodgers. Also Angels outfielder Tommy Murphy and right-hander Marc Gwyn were outrighted off the 40-man roster and are now minor league free agents. Another spot on the Angels’ 40-man roster was cleared when outfielder Nick Gorneault was claimed off outright waivers by the Texas Rangers. [email protected] local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! BASEBALL: Dodgers and Angels both given a good chance to sign Rodriguez. By Doug Padilla Staff Writer You can bet on this: Alex Rodriguez will be playing for the Angels or Dodgers on opening day in 2008. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.Really, you can bet on it. Now that Rodriguez has opted out of his lucrative New York Yankees contract to become a free agent, a proposition bet on where he might land is being offered by the gambling Web site www.bodoglife.com. The site is giving 3-to-1 odds that Rodriguez will be wearing Angels red next season, the lowest odds on the board. Just behind the Angels are the Dodgers, coming in at 4-to-1 to land A-Rod. Where the two-time MVP really ends up is anybody’s guess. Rodriguez is about to earn his third league MVP award in the coming weeks. Adding to the speculation that A-Rod will land in Southern California is information from a former National League general manager who is still involved in the day-to-day operations of a major league club. He has indicated that Rodriguez recently purchased property in the Orange County area. The unsubstantiated information could mean that Rodriguez already has his sights on joining the Angels, Dodgers, or even the San Diego Padres. Or not. It could just mean that his Orange County-based agent, Scott Boras, found him a sweet deal on a long-term investment. last_img read more