Mkombozi Commercial Bank Plc (MKCB.tz) listed on the Dar es Salaam Stock Exchange under the Banking sector has released it’s 2016 annual report.For more information about Mkombozi Commercial Bank Plc (MKCB.tz) reports, abridged reports, interim earnings results and earnings presentations, visit the Mkombozi Commercial Bank Plc (MKCB.tz) company page on AfricanFinancials.Document: Mkombozi Commercial Bank Plc (MKCB.tz) 2016 annual report.Company ProfileMkombozi Commercial Bank Plc (MKCB) is a commercial bank serving and supporting emerging businesses in Tanzania. The financial institution targets small and medium-sized entrepreneurs, SACCOS and social enterprises such as schools, universities and public enterprises. MKCB started as an initiative of the Tanzania Episcopal Conference in 2009 to address the need to provide financial solutions to start-up businesses aswell as institutional investors and government entities. MKCB has 6 branches in the major towns and cities of Tanzania and plans to extend its footprint to increase accessibility and financial inclusion in areas which cannot be handled by mobile banking. Mkombozi Commercial Bank Plc is listed on the Dar es Salaam Stock Exchange
Photo by Steven Cornfield on Unsplash Save my name, email, and website in this browser for the next time I comment. Please enter your comment! Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 TAGSAdventHealthCOVID-19Dr. Tim HendrixUpdatesVaccinationsVaccines Previous articleDistrict to hold webinar on flood risk reduction; offers free continuing education credits to community associationsNext articleFederal financial aid for college will be easier to apply for – and a bit more generous Denise Connell RELATED ARTICLESMORE FROM AUTHOR Share on Facebook Tweet on Twitter You have entered an incorrect email address! Please enter your email address here LEAVE A REPLY Cancel reply The Anatomy of Fear Please enter your name here Support conservation and fish with NEW Florida specialty license plate More than 7,000 vaccinations to be distributed by end of the week and nearly 37,000 doses across Central FloridaFrom AdventHealthSeveral days into the first week of distributing COVID-19 vaccinations for Central Florida seniors, AdventHealth leaders report a “smooth process” it hopes to continue as long as vaccine supplies are available.The AdventHealth Morning Briefing today featured Dr. Tim Hendricks, medical director at AdventHealth Centra Care, and Brian Adams, an AdventHealth market CEO who is leading COVID-19 efforts across Central Florida.“We’ve had a wonderful response,” Adams said. “By the end of the day Friday we will have delivered more than 7,000 vaccines to our seniors and our frontline healthcare workers in Central Florida, and we look forward to the opportunity to have more vaccine in the future as the state shares with all the distribution sites.”Dr. Tim Hendrix, AdventHealthThe vaccines are rolling out to seniors and health care workers amid a recent increase in the number of COVID-positive patients in the region. As of this morning, there were just under 800 COVID-positive patients throughout the AdventHealth system in Central Florida.Hendrix is “cautiously optimistic” that we have reached a plateau following the holiday season, and he emphasized that anyone needing medical care should feel safe in the health care environment and not delay care.“I go in and out of AdventHealth facilities all day long, and I feel that they are safer than going to a restaurant,” Hendrix said.AdventHealth’s community vaccines are available by appointment only. You can sign up for alerts to learn when more appointments are available at www.CoronavirusVaccineAlerts.com.Vaccines are not currently available at any AdventHealth hospital, AdventHealth Centra Care, or AdventHealth Medical Group office.
Tagged with: Consulting & Agencies Digital Research / statistics AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 17 March 2004 | News US human rights group e-mail appeal raises $500,000 Human Rights Campaign (HRC), America’s largest gay and lesbian organisation, has raised “more than $500,000 in a few days” with an e-mail appeal.The income figure was reported by Nick Allen of American online fundraising and marketing company Donordigital.com in its latest e-mail newsletter. The appeal was launched in response to President Bush’s announcement of his support for the Constitutional amendment to outlaw gay marriage.The e-mail appeal was part of the HRC’s MillionForMarriage.org campaign, which has gathering more than 400,000 signatures since its launch in August 2003. Advertisement 19 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis 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.
WW photo: Anne PrudenNew York — “Walmart cheats, Walmart hates, Walmart discriminates!” and “Bill Simon eschucha — Estamos en la lucha!” shouted a multinational protest of Walmart and restaurant workers outside a retail bosses’ convention where Bill Simon was speaking on Jan. 15. Simon is president and chief executive officer of Walmart U.S., executive vice president of Wal-Mart Stores Inc. and director of the board of Darden Restaurants Inc., the world’s largest restaurant company.While the 1% conspired to expand their profits at the New York City meeting, a “mic check” occurred suddenly inside the Jacob Javits convention center. The Occupy Wall Street Labor Outreach Committee and 99 Pickets began to unfurl an anti-Walmart banner and expose the exploitation and anti-immigrant practices of both Walmart and Darden. Soon kicked out of the hall, the labor activists joined the strong protest outside.Supporters numbered more than 100 people organized by the Retail Action Project, Restaurant Opportunities Center, UNITE-HERE, Desis Rising Up & Moving, the Department Store union and other organizations fighting for workers and immigrant rights.Demands were especially focused on how these rich are making super-profits by hiring part-time workers who don’t receive enough hours to make a living and who are without benefits of any kind. These workers’ schedules are also irregular, without even a set time to be at work from week to week, which makes it hard for parents to arrange child care and transportation. The protesters also chanted demands for full-time jobs and sick time.That most of the Walmart and restaurant workers are people of color is further reason to unite in their support. The fight of working-class, low-wage workers will not end until there are no more low-wage jobs!FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
College students protest in Nicosia.Jens Weidmann, the president of the German central bank that has been key to the extreme austerity imposed on Cyprus, said, “The situation in Cyprus has stabilized in the last few days.” (New York Times, April 7) Workers in Nicosia, the capital of Cyprus, a small island country of about 4 million people, don’t think so.On April 4, the Union of Bank Employees (ETYK) called a two-hour lunch-time strike to hold a protest there in front of Parliament, which is having trouble passing the laws needed to implement the austerity policies the government imposed by decree. The parliamentarians are feeling the heat of popular anger over this situation.Hundreds of bank workers demonstrated again on April 5. They came out at the call of the ETYK, which has played a very active role in leading protests against the austerity. Workers told Telesur, the Latin American TV network, that they feared 60 percent of their pension funds would be confiscated. The government, under pressure from the Troika (the European Central Bank, the International Monetary Fund and the European Commission) has decreed that 60 percent of all accounts over 100,000 euros would be confiscated to pay for the bailout.One protester told Telesur: “We live off our salaries and we are counting on living off our pension funds when we are retired. This debt should not punish us or our families.” Another said, “It was terrible that they are destroying the economy and telling lies about it.”Panos Kyriakydes said, “We don’t want to close the banks, but if they force us to we will close the banks ourselves.” He realized that this would create big problems for the companies that depend on the banks, and on both the rich and the poor people who use them.At the end of March, when the Troika had representatives in Nicosia to establish the terms of the “bailout,” ETYK led at least two major occupations of bank offices. A Reuters video showed hundreds of angry workers, many in business suits, marching into the headquarters of Laiki, one of the biggest banks in Cyprus, which has been designated to be closed. (March 26)One protester told Reuters, “They are trying to take our money rather than find the bankers who were the ones who stole our money.”Besides bank workers facing the loss of jobs and pensions, the other very energetic sector in these protest has been students who face the loss of their future. “The Troika will bring us to the point that we have no future. We cannot find a job,” a Cypriot student told RIA Novosti. (March 26) Subsequent student protests have tended to be focused on Parliament and the government offices.One sign at a protest in late March read, “People wake up, they are sucking your blood.” Another sign read, “Death to Merkel.” Angela Merkel is the German chancellor who, to many Cypriots, is the chief architect of the austerity plan. ETYK, however, has moved from primarily blaming Germany to putting more focus on the Cypriot government. (Telesur, April 5)The level of violence in Cyprus hasn’t reached the levels in Greece. A few ATM machines were blown up at night while the terms of the bailout were being set. (RT.com, March 25) There were a few shoving matches between cops and protesters, shown on video clips, but no rocks or tear gas were thrown.Some left-wing leaders in Europe, especially in Greece, have tried to assess how the situation in the Greek-speaking part of Cyprus is connected to the overall situation in Europe.Alexis Tsipras, the leader of Syriza, the major opposition coalition in the Greek parliament, told the French Communist newspaper l’Humanité on March 21: “It is clear that the European leaders are now engaged in a policy openly oriented against the people of Europe. The German government’s strategy, supported by financial speculators in Europe, is a strategy of colonization, of southern Europe in general and of Greece and Cyprus in particular. It relies principally on a form of extortion, whose lever is debt.”FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
The following is a lightly edited interview with a Workers World member who works in a Whole Foods grocery store in late March. Workers held a nationwide sickout on Tuesday, March 31, to protest low pay and unsafe conditions during the COVID-19 pandemic. After this interview, a Wawa gas station attached to the same building as this comrade’s workplace shut down because of a confirmed case of coronavirus.Amazon workers’ strike on March 31.Workers World: The current crisis has made it clearer than ever how important health care workers, sanitation workers and food distribution workers are to the regular functioning of society. Grocery store workers like you are truly on the front lines of this pandemic now. When did you start to realize this yourself?Whole Foods worker: It’s been two weeks since things have been “not normal” at the store. It’s eerie in retrospect, but on a Wednesday in early March, I noticed how long the checkout line was getting. It made me wonder if there had just been an announcement about COVID-19 spreading to the U.S.I said, “I wonder if this has anything to do with coronavirus,” and a coworker was like, “What’s that?” None of us were prepared.Within the week we had lines wrapping around the store. They were some of the worst days I’ve worked. It gets bad on [Amazon] Prime Day, the Sunday before “Thanksgiving.” But everyone agreed it was leaps and bounds worse than the worst we’ve ever seen. I was bagging $800 orders. Prime shoppers were filling orders that required two big carts. Our job was assisting and watching people hoard food. Food that we now wouldn’t be able to access. It was an unexpectedly emotional moment to see the race to the bottom in real time.At that point there had been no confirmed cases in Philadelphia so the fear of infection wasn’t there yet. It’s still hard to tell how much is overreaction and whether media is manipulating us to think it’s more or less serious than it actually is. When your government doesn’t tell you the truth, it’s hard to tell.It’s been dead since March 23. Philadelphia Mayor Jim Kenney’s “stay at home” order has something to do with it. Still, way more people need to be following it. I’m worried now, not necessarily for myself, but for the store becoming a locus of transmission in general. I come within 2 feet of customers every day. Just one employee being sick, one customer being sick could set off a ridiculous chain reaction. Not that I don’t want to protect my health. I’m being as careful as I can.WW: What is the mood at the store now? How are you and your coworkers reacting to this?WF worker: Nothing feels normal. Everyone is trying to cope with this at the same time we’re trying to work.Most people in my community and social circle are in the service industry — not necessarily businesses that are still open in the lockdown, but a lot of them worked right up until the lockdown. For a lot of people the attitude was, “I’m going to get everything I can until I’m legally not allowed to.” Inadvisable but that was the case for many businesses, so workers had to keep going. Bars were open until Monday, March 23. People were celebrating on St. Patrick’s Day.Meanwhile, we’re not getting paid sick time unless we’re diagnosed.For Whole Foods workers, you have the choice to take leave to self-quarantine. But if you want to self-quarantine you’re not going to get paid. If you want to get paid, you’ve got to go to work. Some immuno-compromised coworkers have not been getting paid because they’re protecting their health. Not everyone has this choice. And there’s a kind of “invincibility factor” where some younger workers don’t think it will affect them. But you can get a severe case of this if you’re young.WW: Millennials and Gen Z currently make up the largest group of confirmed cases in Philadelphia. (Philly Mag, March 25)WF worker: Everyone in their 20s and 30s was working up until the very last minute that they could. About 75 percent of my coworkers are in this age group. I’m also terrified for my older coworkers. A good amount of them are still going to work. One of my coworkers in her late 50s — I want to tell her to go home, but she has bills to pay, too. We have every incentive to risk getting infected with no protection. I’m sure that has something to do with the demographic spread.WW: You say you have no protection. What measures has Whole Foods taken since the pandemic hit?WF worker: In terms of policies, not much has changed. The most significant change has been our hours. They’ve shortened shifts. Normally the stores are open from 7 a.m. to 10 p.m. Now we’re opening for the first hours just for workers and people 60 or over — which I was happy to hear. There are no changes as to how many people are allowed in the store at a time. I’m worried about older customers, too.There’s no staying 6 feet away from customers in the store. The vestibule is tiny. There are two elevators, but only one is working. There are no restrictions on elevator usage. We’re closing an hour early to “deep clean,” but they’re not paying anyone to do so specifically. They’re just paying front-end employees to stay until 9:30 p.m. to soak things with disinfectant. No professional sanitation team — just up to workers who were already scheduled to wipe and sanitize every hour.Whole Foods has no policies or requirements on gloves. Though most of us are wearing them anyway, there’s no enforcement. Employees are not allowed to wear masks. We need approval to wear one on the clock, which is absolutely ridiculous. At some grocery stores there is a physical barrier, a plastic screen between customers and cashiers. We have none of that. At express lanes in particular, the counter is only a foot and a half long. It still seems unclear how easily the COVID virus spreads from indirect contact. There’s still a lot of uncertainty about how much protective equipment is needed.But to answer your question, really the only difference is the change in hours.WW: Have you received any hazard pay from Bezos and Amazon?WF worker: Amazon announced a $2 an hour raise for all of us through April. If you’re diagnosed with the coronavirus, you get two weeks paid sick leave.But without unlimited paid sick time, that just incentivizes going to work. Philadelphia has passed some legislation that will guarantee paid sick leave, but no other Whole Foods/Amazon workers have that. There shouldn’t be a cap on that anyway. (Philadelphia Inquirer, March 16)There’s another attitude now among grocery store workers: “I’m going to get this anyway. I’m going to be sick. So what does it matter?”WW: How has that affected the class consciousness of your coworkers?WF worker: We know that we, the workers, are disposable. This is a common sentiment across everyone who works for Amazon. You’re just an arm in a massive machine. The depersonalization of it all. It boils down to: They don’t give a shit about us. It has nothing to do with not wanting to alarm customers. It has to do with the costs in providing protective equipment. A $2 raise is a bare minimum for public relations reasons. Our store has broken sales records.Our store made $1.5 million last week; we usually make under $1 million. Yet there is a reluctance to invest in any measures to keep us healthy. Before any of this happened, part-time Whole Foods employees got their health coverage cut. This is an extension of the policies Amazon has been implementing since they bought Whole Foods.They hired 100,000 new workers just to make up for the surge in orders. Even though we’re essential, the attitude is still there that we’re replaceable.My co-workers are ready for full communism, let me tell you. I’ve been trying to organize my workplace off and on as these cuts have happened. I’ve worked there since the first Amazon Prime Day, right after Amazon bought Whole Foods. Every benefit that was advertised as a reason people like to work at Whole Foods is gone, eliminated by Amazon.I’ve seen only mounting frustrations since then. Nothing has brought out the “we don’t have anything to lose here” attitude like this. People are afraid for their lives, for their health, for the health and lives of their loved ones. They’re saying this isn’t worth it. We deserve more. As important as we know our jobs are, we didn’t realize before all of this how essential the work we do is.There is now near universal recognition of how important the work we do is — not just grocery store workers, but retail workers in general, sanitation workers, health care workers. It’s rubbing off on us. People for the first time are feeling that we have a chance to take what is actually ours. To use our position as the people who are actually holding this system together.Imagine an overstuffed pillow. We’re the threads on those seams. Each thread is unraveling. So long as we continue to go to work, that pillow’s not gonna burst. But my coworkers are realizing we’re the ones keeping everything together.We’re trying to focus on the silver lining. But we’re crying at work. We’re anxious. People are feeling a lot of despair and hopelessness. Just feeling left in the dust — by the government, by our employer. It’s not just us, it’s everybody in our trade. It’s everybody who’s still working right now. We’re essential workers, but our paycheck doesn’t tell us we’re essential workers. They’re only willing to throw us pocket change.Another source of resentment and anger is that people are working from home making five to 10 times as much. None of those people are willing to go out there and risk their lives for $17 an hour. It’s always been the case that the people deciding our fate would never in a million years dream of doing the work we do. We’ve always known that.Now that it’s coming out in such a violent, inhumane way, people are angry. My coworkers are angry. People are having a hard time staying calm during long shifts. Six days a week, 50 or more hours, with so many people working overtime. People are still picking up more hours.And we know emotional and physical exhaustion will weaken our immune systems.There is fear, sorrow, anguish. But a sense of hope for the first time. We are agents of history. We always are, but our alienation tells us we aren’t and that we can’t write our future, that our future is given to us predisclosed. That history has already happened. What’s keeping us going is the knowledge that we’re in a really historically significant moment. Timing is everything. I keep repeating that Lenin quote: “There are decades where nothing happens; and there are weeks where decades happen.”So, yeah. Feeling overwhelmed? That’s because decades are happening. Expressions of solidarity are more meaningful right now. But the disrespect we receive from customers hurts a lot more right now.WW: How else has the crisis exacerbated underlying problems?WF worker: We service workers are so often overlooked and taken for granted. We’re so often dismissed and disrespected. But the job itself sucks; people don’t want to be here.The timing of this crisis is absurd for my store in particular, because they’re about to announce that they’re replacing 9 of our 14 lanes with self-checkout kiosks. Every part-time worker will get their hours cut in half. I have another job — two part-time jobs — but that’s the difference between survival and not. That could be the straw that breaks the camel’s back. We need to build the power. They’re going to replace us with robots. That won’t happen if we’re united and they’re afraid of us. They can’t replace all of us.I predict the budget for loss prevention will skyrocket, by the way, once they cut part-time hours.WW: Could you talk more about loss prevention at Whole Foods? I understand stores employ armed guards at both Philadelphia locations.WF worker: Some security guards carry guns, yes. Not all of them at my location are licensed to be armed, so most of the time they’re not. We also have an undercover security guard at the store, not in uniform, who walks around with a shopping cart and headphones on. It’s really weird when you know who he is, because he’s just walking around looking at people, looking super-suspicious. I’m sure other stores are doing this. The ones that are super-zealous; those are the ones I worry about. The “I’m training to be a cop” people. But some of them are just workers from a temp agency and don’t care.This is all against the backdrop of the most intense and disturbing increase in shrink and spoilage. This is an aspect of the service not many people realize since Amazon took over and started using the stores as de facto distribution centers. Think of all the packaging, fossil fuel, the energy it takes to store and pick it up and deliver products. I’ve seen pounds of meat, fish, frozen food, all of it improperly stored and thrown out.People return orders, and they get thrown out because stuff has been out of the store. If orders don’t go out, workers need to put stuff back on shelves. Anything handpicked (like pastries) gets thrown out. Some bags have one item in them. Insulated bags and freezer bags lead to even more waste. This is at least double the amount of waste, not even close, to the scale of what we lose from shoplifting.And when people steal, they eat the food! It’s not going to waste.There were four security guards in the store on my last shift. I’m positive they don’t prevent much theft. They can’t detain people. They can’t chase people. Whole Foods is paying these people to stand around and intimidate people. They could be protecting workers instead of the product.WW: Finally, can you tell me a little bit about your relationship with Workers World Party?WF worker: I’ve been in the party for three years. I was initially brought into revolutionary politics and organizing by events of 2016, Trump’s election, and feeling there’s no hope in the system. During the summer of 2016 my partner at the time was a victim of police brutality and was disabled for life because of it. Those two events were the perfect storm for my radicalization.I’ve been working in retail since I turned 16. In a certain sense it’s hard for me not to be a communist. Every crisis that has befallen our class, I see Workers World analyzing and amplifying those struggles.In particular during this time I’m immensely grateful to have the network of support and organization that WWP provides. It goes beyond the party, too, to the organizations the party has relations with. It’s been really crucial to feel that I have people who have my back and are sending me good wishes and solidarity while I’m working on the front lines of this pandemic. But I also know that in the struggles in my workplace, I have a whole network of seasoned and dedicated revolutionaries to help me push through with these struggles.This is something none of us can handle on our own. I’ve stayed a communist because capitalism has remained the defining factor in my life. That’s why I’ve stayed in the party all these years. But now WWP is providing the crucial analysis of this moment, and they have my back and the backs of my coworkers. When customers at work are making you cry and you’re beaten down, to then go home and get on a call with the comrades who are grateful for the work you’re doing — it’s more important than I can even express.I feel more dedicated to the work than ever. Grateful for the opportunities I have to organize my class and be in the middle of this historic struggle. I think we will win. We have to. But I think that we will.Note: As of April 4 at least some Whole Foods stores have introduced “social distancing” protocols for shoppers.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Subscribe Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPasadena Water and PowerPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes HerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeautyShort On Time? 10-Minute Workouts Are Just What You NeedHerbeautyHerbeautyHerbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeautyHerbeauty11 Signs Your Perfectionism Has Gotten Out Of ControlHerbeautyHerbeautyHerbeauty10 Of The Most Notorious Female Spies In HistoryHerbeautyHerbeauty Make a comment Your email address will not be published. Required fields are marked * The community is invited to join Mayor Bogaard and the Pasadena Chapter of the United Nations Association on International Human Rights Day to commemorate the 66th anniversary of the U.N. Universal Declaration of Human Rights from 7:00 p.m.-8:30 p.m. Wednesday, Dec. 10, 2014, at the Pasadena Central Library, Donald R. Wright Auditorium, 285 E. Walnut St.Each year during International Human Rights Day, Pasadena joins communities around the world to celebrate the U.N. General Assemblyâ€™s adoption of the Universal Declaration of Human Rights Dec. 10, 1948. This yearâ€™s celebration features a special video presentation, lecture and exhibits centered on the 2015 U.N. theme â€œInternational Year of Light and Light-based Technologies.â€The event will begin with opening remarks by Mayor Bogaard, followed by a short film on low-tech solar lighting and a reading of â€œWe Are All Born Free: The Universal Declaration of Human Rights in Pictures.â€The celebration is free to the public, and refreshments will be provided. Guests can visit exhibits by One Fridge off the Grid and Pasadena Water and Power.â€œAs the international community tackles the challenge of global climate change, there has been an increased focus on conservation and using renewable and alternative energy sources,â€ said Mayor Bogaard. â€œPasadenaâ€™s ongoing commitment to attaining greater energy efficiency mirrors the U.N.â€™s 2015 theme of light and light-based technologies.â€This yearâ€™s featured speaker is award-winning scientist and sustainability expert Elena Christopoulos. Christopoulos is a member of the American Hellenic Council California Board of Directors, advisor to the Green Chamber of Commerce and technical and consular advisor for energy think tank E3NYC. In 2000, Christopoulos implemented the first urban wind turbine in North America, located in Toronto. She also brought the first urban wind turbine to Southern California for the Los Angeles Community College District as part of a $6 billion bond program. Christopoulos attended Queenâ€™s University in Ontario, Canada.Free parking is available at the Central Library parking lot. For Pasadena ARTS bus and other transit schedules, visit www.cityofpasadena.net/artsbus. For more information, contact Rhonda Stone, Field Representative to the Mayor, at (626) 744-7147.Stay connected to the City of Pasadena! Visit us online atÂ www.cityofpasadena.net; follow the city on Twitter @PasadenaGov,Â www.twitter.com/pasadenagov, and like us on Facebook atÂ www.facebook.com/cityofpasadena. Or call the Citizen Service Center, 8:00 a.m. to 5:00 p.m., Monday through Friday, at (626)Â 744-7311. Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday First Heatwave Expected Next Week Top of the News More Cool Stuff EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Government Celebrate 66th Anniversary of Human Rights Declaration Wednesday, December 10, 2014 Published on Monday, December 8, 2014 | 4:14 pm Community News Name (required) Mail (required) (not be published) Website Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Business News 0 commentsShareShareTweetSharePin it Community News
AudioHomepage BannerNews By News Highland – July 13, 2020 Arranmore progress and potential flagged as population grows RELATED ARTICLESMORE FROM AUTHOR Google+ Twitter Pinterest WhatsApp Tourists not quarantining should be jailed – McConkey Google+ DL Debate – 24/05/21 News, Sport and Obituaries on Monday May 24th Facebook The government should consider jailing tourists who don’t quarantine for two weeks, according to an infectious disease expert.It follows reports over the weekend some US visitors were failing to self-isolate for 14 days upon arrival.Direct flights to Ireland resumed from several US cities in recent days, despite the country continuing to record high numbers of coronavirus cases.Professor Sam McConkey from the Royal College of Surgeons, says legal penalties may be needed to stop a rise in cases here:Audio Playerhttps://www.highlandradio.com/wp-content/uploads/2020/07/mcconkey8am.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Pinterest Loganair’s new Derry – Liverpool air service takes off from CODA Twitter Nine til Noon Show – Listen back to Monday’s Programme Previous articleDonegal Senator Eileen Flynn to launch Traveller Pride WeekNext articleAnimals in Need Donegal preparing for increase in demand of services News Highland Facebook WhatsApp Important message for people attending LUH’s INR clinic
Comments are closed. What a performance!On 20 Aug 2002 in Personnel Today Previous Article Next Article Performance related pay for senior executives rarely seems to achieve thereturns that it promises, reports Stephen OverellOne of the many useful functions of work is that it provides a way forsociety to allocate its resources. Because of their occupations, a baker is worth so much, a nursery nurse abit less, a management consultant much more and Sir Christopher Gent ofVodafone £5.1m in salary and bonuses and £9.3m in share options. Hopefully,even the great man himself, flushed as he must be with his shareholders’largesse, might agree that the values placed on certain jobs are really veryarbitrary. As time goes by it often seems that such awards are becoming even morearbitrary. With Sir Christopher at the helm, Vodafone lost £13.5bn in the yearto March 2002. From a share price peak of 399p, they now languish at around97p. Of course, the glumness of the telecoms sector is beyond his control. Butit still feels like an affront to common sense to learn that 80 per cent of thisvoluptuous remuneration package was performance-related. Yes, indeed. According to Vodafone’s 2002 accounts, the performance elementin senior management packages sits at 80 per cent of the total amount. Therules that determine executive pay are entirely geared towards growth, withsuch inscrutable measures as one year cash flow, one year Ebitda, one-year ARPUand so on. As any rational fellow would do, Sir Christopher seeks to maximise hisincome within the rules set by his remuneration committee. If it wants growth,it gives its managers incentives and viewed historically that is what they havedelivered. Value is another matter. It is a question of what companies chooseto reward that matters. Expressed like this, Vodafone’s pay policy seems entirely logical in aKafkaesque sort of way – the shareholders are happy. But to the rest of theworld it looks like fumbling in the greasy till by another name. Over recent years, researchers have been at a loss to find a clear linkbetween pay and performance – as most people would understand it – in executiveremuneration. The directors of FTSE 100 companies, for instance, received an average payrise of 28 per cent in 2000 – five times as much as the increase in the UK’saverage wage, according to pay consultants Inbucon1. Overall, 2000 was a goodyear for the economy – maybe not 28 per cent better than the previous one, butgood nevertheless. Most of the increase received by Britain’s highest paidexecutives came from performance-related schemes and share options, as onewould expect. Yet Inbucon found that even when the effect of bonus schemes and long-termincentive plans was removed, base salaries rose by 22 per cent. And who did thebest? Step forward 2000’s winner: Sir Christopher Gent with a 400 per cent payrise. If asked for an intuitive definition of what ‘performance’ should mean, manypeople might say profitability. Yet it is on this very point that thepay-performance link seems most opaque. When the research group Incomes DataServices looked at the salaries, bonus payments, incentive plans and benefitspackages of the UK’s 350 largest companies, alas, think-of-a-number culture wasmost in evidence. The researchers could find “no statistical relationshipbetween total cash movements and changes in corporate profitability”, itsreport said2. The problem has been taken to absurd levels in the US, where even those whobring about the collapse of their companies emerge from the rubble with a tidyfortune. A recent investigation into the remuneration practices of the 25biggest corporate failures since January 2001 by the Financial Times found thatthe executives who brought about bankruptcies walked away with $3.3bn (£2.1bn)in payouts and share sales. In the good times, contracts are drawn up promisingwild compensation and then the unstoppable gravy train cannot be halted. Organisations such as the Institute of Directors often point out that byglobal standards Britain’s bosses are not basking in richesse. To attract thebest in an alleged (though highly debatable) ‘global market’, pay must becompetitive. Yet the idea of ‘competitive’ remuneration depends on comparison. Those who want to see British salaries levelled up tend to draw comparisonswith the US. There, the average chief executive earns just under £100,000,against £550,000 for UK chief executives. Indeed, compared with the rest of theEuropean Union, Britain’s bosses are also doing well. In France, the averagechief executive earns £383,000, while the Germans pay the least at just under£300,0003. As has always been the case in pay negotiations, ‘fair pay’ is aquestion of who compares themselves with whom. From the point of view of chiefexecutives, it is a good thing those lower down the scale don’t choose toemploy the same logic as their bosses have to feather their nests. The wages ofmanufacturing workers in the US are a third higher than those in the UK. Despite the shortcomings of performance-related schemes, the ideal of payingfor performance remains a beguiling one – far superior to paying people forgetting older, which is what used to happen. Yet it is unclear at the momenthow far organisations recognise and are seeking to tackle the embarrassments itthrows up. IRS, the research body, says that while performance-related pay (PRP)continues to be the most common type of reward in UK companies, it has beenfalling for three years (54 per cent of them use it). Part of the reason isthat there is “mounting evidence that it doesn’t do what its advocatesclaim”. In its place, organisations are adopting some complicated systemsthat honour both outputs (targets, defined objectives) and inputs(competencies, skills, contribution and behaviour)4. However, Mark Edelstein, a consultant with Mercer Human Resource Consulting,argues it is “an absolute myth” that PRP is declining. Ninety-nineper cent of organisations want incentive pay schemes, he says, and go to greatlengths to ensure their rigour. “The results can look peculiar and there is sometimes a big reality gapbetween what looks fair now and how it will appear several years in the future.But I would dispute the claim that performance is unrelated to pay,” hesaid. It all depends what you mean by ‘performance’. The suspicion is that whatsenior executives mean is as remote from popular understanding as the corporatearistocracy is from the rest of the workforce. 1 Inbucon executive remuneration survey, August 2001; www.inbucon.co.uk 2 Incomes Data Services, salary survey, October, 1999 3 Study by Management Today, July 2001 4 Paying for Performance, IRS Management Review, Issue 20, 2001; www.xperthr.co.ukResearch Viewpoint plusRead related articles on this topic from XpertHR’s extensivedatabase free. Go to www.xperthr.co.uk/researchviewpointJoin the Xperts take a free trialBy calling 01483 257775 or e-mail: [email protected] is a new web-based information service bringing together leadinginformation providers: IRS, Butterworths Tolley and Personnel Today. Itfeatures a new Butterworths Tolley employment law reference manual, a researchdatabase and guidance from 13 specialist IRS journals, including IRS EmploymentReview. Related posts:No related photos.