June 18

Mackenzie investors approve fund changes

Mackenzie Financial Corp. (Mackenzie Investments) announced on Monday that investors have approved several fund changes proposed earlier this summer. At special meetings hosted on Monday, investors in Mackenzie Universal U.S. Dividend Income Fund approved a resolution to merge the fund into Mackenzie Universal U.S. Blue Chip Class. In addition, investors in Mackenzie Universal U.S. Growth Leaders Class approved a resolution to merge the fund into Mackenzie Universal U.S. Blue Chip Class. Companies Mackenzie Financial Corp. Facebook LinkedIn Twitter Share this article and your comments with peers on social media Both funds are expected to merge into Mackenzie Universal U.S. Blue Chip Class on Sept. 14. Investors in Mackenzie Ivy Foreign Equity Class approved a resolution to reorganize the fund by splitting it into two funds, so that the Unhedged Class will continue as Mackenzie Ivy Foreign Equity Class while the Hedged Class will continue as Mackenzie Ivy Foreign Equity Currency Neutral Class. Investors in Mackenzie Universal American Growth Class approved a resolution to reorganize the fund by splitting it into two funds, so that the Unhedged Class will continue as Mackenzie Universal American Growth Class while the Hedged Class will continue as Mackenzie Universal American Growth Currency Neutral Class. For the two reorganizing funds, the changes are expected to take effect in October. IE Staff read more

June 18

Andrew Jappy joins Iress as head of Canadian business

first_img TD getting new head of private wealth, financial planning Maddie Johnson Australian-based financial services software company Iress has appointed Andrew Jappy managing director of its Canadian business.The industry veteran brings more than 30 years of industry experience to the role, and spent more than 20 years at Canaccord Genuity, where he served as executive vice president and group chief information officer. Most recently, Jappy served as an expert consultant to Canadian and global companies on a range of technology and business-growth initiatives, according to a release from Iress.“Canada is an important part of Iress’ strategy and I am confident Andrew has the right skills, experience and industry relationships to build on our solid foundations in the region,” Iress CEO Andrew Walsh said in a statement. Related news blue curtain of a classical theater Viktor Thaut/123RF Share this article and your comments with peers on social media Keywords AppointmentsCompanies IRESS Market Technology Canada LP PenderFund names new SVP for investments CETFA elects new board leader Facebook LinkedIn Twitterlast_img read more

June 17

Minister Baugh wishes Professor Nettleford Speedy Recovery

first_imgFacebookTwitterWhatsAppEmail Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade, Hon. Dr. Kenneth Baugh has wished a speedy recovery for former Vice-Chancellor of the University of the West Indies and Chairman of the Jamaican Diaspora Foundation, Professor Rex Nettleford who fell ill this morning (Thursday) in Washington.Professor Nettleford was rushed to a hospital and placed in intensive care. Jamaica’s Ambassador to the US, HE Anthony Johnson paid him a brief visit while Minister Baugh spoke with a member of the medical team assigned to him.Minister of State in the Ministry of Foreign Affairs and Foreign Trade, Dr. the Hon. Ronald Robinson who chairs the Special Committee of Parliament on Diaspora Affairs, informed the Committee’s sitting at Gordon House this morning (Thursday) of Professor Nettleford’s illness.In wishing him a speedy recovery, Dr. Baugh said Professor Nettleford will be foremost in our prayers at this time. Advertisements RelatedMinister Baugh wishes Professor Nettleford Speedy Recovery RelatedMinister Baugh wishes Professor Nettleford Speedy Recoverycenter_img RelatedMinister Baugh wishes Professor Nettleford Speedy Recovery Minister Baugh wishes Professor Nettleford Speedy Recovery Foreign AffairsJanuary 28, 2010last_img read more

June 13

US Wine Market: There Is a Gulf of Valuation Expectations Between…

first_imgAdvertisementA new Rabobank report notes the slow pace of M&A deals with smaller wineries to date in 2021, due to a massive difference in valuation expectations between buyers and sellers. Sellers view the recent IPO of Duckhorn – currently trading at ~20 times EBITDA – as the new standard for valuations in general. Buyers use other recent deals in the market, closed at much more muted valuations, as a reference.May 4th – “This gulf in expectations will eventually narrow, and the ongoing recovery of the on-premise will play an important role in providing greater clarity. Some wineries will find that valuations will improve with time, but others may find that prolonging a sale may erode additional value,” according to Stephen Rannekleiv, Global Strategist – Beverages at Rabobank.The Covid crisis and the recent wildfires have increased the number of small, family-owned wineries interested in selling, but there appears to be a significant gap between the expectations of buyers and sellers in terms of valuations. Part of that divergence stems from that fact that, among the high-profile M&A deals that have closed, there appears to have been some fairly dramatic variation in valuations. The IPO of Duckhorn valued the company at 15 times trailing EBITDA, but the stock price rose immediately and, at the time of writing, reflects a valuation of ~20 times EBITDA. On the other hand, the recent sale of Constellation’s brands to E&J Gallo appears to have been closed (by most industry estimates) at well-below ten times EBITDA.“So while the high levels of liquidity in the market may provide some upward pressure on valuations for specific types of deals… 20 times EBITDA is not the normal,  benchmark metric for wine deals getting done. On the other hand, of course, the Constellation-Gallo deal is also not representative of where most valuations will fall,” says Rannekleiv.Given that the decline in sales to on-premise channels has been one major point of disruption in revenues for small wineries, the pace of recovery of this channel will likely play a role in aligning valuation expectations between buyers and some sellers.Robust growth in sales to the on-premise expected in the second half of 2021The good news is that, as we move into the second half of 2021, the recovery of the on-premise is in full swing. There is pent-up demand, consumers are anxious to begin going out and socializing again, and wholesalers indicate that they are seeing sales in many of the bars and restaurants that have completely reopened reaching levels at or above those seen in 2019.Some important challenges, however, remain and will constrain growth. “In addition to the loss of accounts due to permanent closures, many restaurants are paring down wine lists in order to better manage cash and improve operating efficiency,” explains Rannekleiv. “This is likely to favor larger, better-known brands and create more intense competition for placements among smaller wineries,” he says.The pace of recovery of the on-premise will be felt unevenly across restaurant chains vs. independent restaurants, with the former recovering more quickly and gaining share from the latter. The growing share of chains will be more favorable for larger, more well-established brands.The gap in valuation expectations will eventually resolve itselfThe ongoing recovery of the on-premise is good news for the industry and may provide some wineries with the improved profitability needed to align price expectations with potential buyers. Furthermore, those wineries that were able to effectively shift sales away from on-premise channels to e-commerce/direct-to-consumer channels during the pandemic may find themselves relatively well-positioned.Tech deals taking center stage in wine M&ARetailers and tech companies in the food and beverage space are looking to the alcohol category to buoy their e-commerce growth and investing big money to build out their online alcohol infrastructure.“Despite massive growth in 2020, alcohol remains vastly underpenetrated and underpromoted across most major e-commerce channels,” says Bourcard Nesin, Analyst – Beverages at Rabobank. “Alcohol is perhaps the last of the low-hanging fruit in the online food and beverage world, a bright spot in an otherwise challenging moment for e-commerce players,” he explains.What does all this mean for alcohol brands? These investments into the alcohol category all but guarantee that the alcohol category will continue its strong momentum over the next two to three years even as we move beyond the coronavirus pandemic. As retailers and tech companies start building dedicated e-commerce teams for the alcohol category, they will turn to alcohol brands for support, leadership, and guidance.Advertisement Email Share ReddIt Previous articleSosie Wines Announces Grand Opening of New Sonoma Plaza Tasting RoomNext articleEthica Wines CEO Francesco Ganz Launches “Carpe Vinum,” the First-Ever Italian Wine Tourism TV Series in Chinese, Created Especially for the Chinese Market Press Release Facebook Home Industry News Releases US Wine Market: There Is a Gulf of Valuation Expectations Between Buyers…Industry News ReleasesWine BusinessUS Wine Market: There Is a Gulf of Valuation Expectations Between Buyers and SellersBy Press Release – May 4, 2021 417 0 Pinterest Linkedin Twitter TAGSRabobank last_img read more

May 27

Lessons Learned

first_imgFrom town halls to debates, from PACs to advertisements, voters were schooled by another brutal election season. Here’s some of what we learned:That midterms are, apparently, immune to economic downturns when the electorate is this polarized. A week before the election, outside spending had already topped $264 million, more than that spent during the 2008 presidential election year and four times what was seen in the 2006 midterm. The final tally will be much higher. Talk about a stimulus.That Political Action Committees are prevalent in local elections. In Flathead County, once again, PACs were merciless and controversial in their criticism, often saying things a candidate’s rival wouldn’t dare.That party committees will send you the same mailers three times in three days. While some of them are simply portraits of candidates vacationing with his family, the advertisements often include the following language: “You can’t afford (insert opposing candidate) because he (insert obscure stock holding of a company that is somehow corrupt).” More fodder for the recycling bin.That not everyone enjoys going negative. State Rep. Gary MacLaren, R-Victor, resigned as treasurer from his party’s committee after mailers were sent out criticizing Democrats in his area: a rare stand for civility.That Jake Eaton is still a player in the Montana Republican Party. Eaton, the former executive director for the state GOP, was tapped to replace MacLaren. Eaton was accused of suppressing voter turnout in 2008: What was that about civility?That both Sens. Max Baucus and Jon Tester are lucky they weren’t up for reelection this year. The midterm of the first term is often punishing for the president’s party. The senators, after largely avoiding open town halls in 2009, came out of hiding this year. But if it was their turn to campaign, and the GOP fielded formidable candidates, both could have been in trouble.That politics are not always local. Despite Montana holding onto a budget surplus, the federal deficit was on the forefront of voters’ minds, especially those involved in the Tea Party.That the Tea Party is grassroots and relevant, but its supporters often have differing philosophies. When Tim Ravndal was ousted as president of the Helena-based Big Sky Tea Party Association following what appeared to be an anti-gay exchange on Facebook, the move split its membership. Ravndal was appointed executive director of the newly formed Lewis & Clark’s Conservative Tea Party less than two months later.That some names on the ballot are placeholders. While Republicans fielded competitive candidates in every race in the Flathead, the same can’t be said for Democrats. While the party had several viable aspiring officeholders, it also had a few folks who didn’t campaign at all. The Dems didn’t even have a candidate in the races for clerk and recorder, county attorney, superintendent of public schools or sheriff.That sheriff races are a big deal. Flathead County’s Republican primary, which Chuck Curry eventually won, included a vote of “no confidence” from the union against incumbent Sheriff Mike Meehan. In Lake County, a critic of the sheriff’s office was served a search warrant after he started a website accusing that department of corruption.That Montana Congressman Denny Rehberg can raise a lot of money and is, right now, the Republicans’ most practical choice to challenge Tester for his Senate seat in 2012.That Gov. Brian Schweitzer will continue in politics in some capacity after his term ends in two years. He spent the summer, seemingly in campaign mode, traveling the state defending his policies: fully aware fiscal solvency will be his greatest legacy.That jobs matter most, even though candidates’ plans to “create” them are often shaky at best.That it’s a good thing these elections are only once every two years. Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. Emaillast_img read more

May 25

Hill farmers sceptical about Genome Scheme assurances

first_img Facebook Twitter Donegal hoteliers enjoy morale boost as bookings increase Previous article11 Community Hospitals in Donegal to go tobacco free from MondayNext articleUnder16 player banned for two years for striking referee admin 45 new social homes to be built in Dungloe By admin – May 29, 2015 Pinterest Hill farmers sceptical about Genome Scheme assurances Consultation launched on proposal to limit HGV traffic in Clady RELATED ARTICLESMORE FROM AUTHOR Twitter Google+center_img The Irish Natura & Hill Farmers Association is advising farmers still thinking about joining the Beef Data & Genomics Scheme to be very careful about doing so.Yesterday, Junior Minister Joe Mc Hugh told Highland Radio News that farmers’ concerns about the scheme are being addressed by MInister Suimon Coveney.However, Henry O’Donnell, the INHFA’s Donegal Spokesperson says after similar indications were given about commonages last year, it took a huge campaign to have them acted on.He says the association is very sceptical about the current scheme……….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/05/henrygenome.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Pinterest Today is the 30th anniversary of Eddie Fullerton’s murder Facebook WhatsApp Disruption to cancer service will increase mortality – Oncologist Hospitalisations rise as Donnelly suggests masks will stay ’til autumn Homepage BannerNews WhatsApp Google+last_img read more

May 25

Shippers take to the courts to accuse US railroads of price-fixing

first_img A decade long reversal in the fortunes of the US intermodal industry is leading shippers and rail carriers into the highest courts in the US to do battle over antitrust allegations.A group of shippers has recently won the latest round in their fight with America’s four largest rail freight carriers – Burlington Northern Santa Fe, CSX, Norfolk Southern and Union Pacific – after a judge in the District of Columbia ruled that it could proceed with a class action against the carriers.This could turn out to be one of the longest-running and most complicated of the various shipper-vs-carrier antitrust actions. The case centres on allegations that the four railroads colluded to fix fuel surcharges levied on shippers between 2003 and 2008.Previously, both parties’ legal teams were bound up in arguing whether the shippers could launch a class action at all. That appears to have now been settled and the courts will begin to hear whether the defendants actually engaged in price-fixing. By Gavin van Marle 01/08/2012 The shippers – named as Dust Pro, Carter Distributing, Dakota Granite, Donnelly Commodities’ US Magnesium, Nyrstar Taylor Chemicals, Olin Corporation and Strates Shows, and represented by Los Angeles-based law firm Quinn Emanuel Urquhart & Sullivan – allege that the rail operators “conspired to increase their total revenues through the use of standardised, uniform and supra-competitive fuel surcharges”.The shippers have produced a compelling narrative of how the collusion came about. After the 1980 Staggers Act, which deregulated the US railroad industry, the vast majority of freight contracts were privately arranged, thus removing them from state oversight. However, during much of the subsequent period, railroads suffered from continually declining freight rates.In an effort to reverse this, said the shippers, the railroads between 2000 and 2003 acted independently to increase prices through a variety of mechanisms, acting as a “price-discriminating, interdependent, but non-collusive oligopoly”, but these generally failed because railroads feared that unilateral freight rate increases would lose them market share.This changed in 2003, it is alleged, after the four operators agreed to apply a common fuel surcharge linked to one of two fuel indices – the West Texas Index used by Norfolk Southern and CSX, and the On-Highway Diesel Fuel index used by BNSF and Union Pacific – but the shippers said that subsequent fuel surcharges levied by the carriers bore no resemblance to the actual increases in fuel costs.The case can be seen as part of broader movement of shippers demanding increased competition in the US rail transport sector. A shipper pressure group, Consumer United for Rail Equity announced recently: “There is a fundamental lack of competition in the freight rail industry and the process for rail-dependent shippers to get relief from monopolistic practices by industry is broken and in need of reform.”All the signals suggest that rail is winning considerable market share from haulage in the country. The Association of American Railroads’ latest monthly report, for June, recorded the third-highest monthly freight volumes, and if current trends continue, this year is likely to be the largest year for intermodal volumes in history, beating the previous best in 2006.The AAR argued that this is due to a number of reasons: large-scale investment in better service; even larger investment in infrastructure and equipment; fuel costs – rail transport is around four times more fuel efficient than trucking; highway congestion and a lack of drivers; and the increase in international traffic, which typically sees containers railed from ports to destinations hundreds of miles inland.Shipper groups, on the other hand, argue that these volumes increases are a result of the four main railroads effectively operating in captive markets. The outcome of the case, whenever it may be, will go some way in determining just how captive these markets really are.last_img read more

May 18

Peace Scholarship Dissertation Program for Students at U.S. Universities

first_img LinkedIn 0 +1 Share 0 Tweet September 28, 2010 Published by Site Default Deadline: 05/01/2011Open to: students at U.S. universities (citizens of any country) who are writing doctoral dissertations on topics related to peace, conflict, and international securityFellowships: $20,000 for 10 months starting in SeptemberThe Jennings Randolph (JR) Program for International Peace awards nonresidential Peace Scholar Dissertation Scholarships to students at U.S. universities who are writing doctoral dissertations on topics related to peace, conflict, and international security.Each year the program awards approximately ten Peace Scholar Fellowships. Fellowships last for 10 months starting in September. Fellowships are open to citizens of any country.Dissertation projects in all disciplines are welcome.The 2011-2012 Peace Scholar competition deadline is January 5, 2011.Apply Now!Applicants MUST use the online application system.The JR Program for International Peace awards Peace Scholar Dissertation Fellowships to students enrolled in U.S. universities who are researching and writing doctoral dissertations on topics related to peace, conflict and international security.Proposals from all disciplines are welcome.Proposals should be consistent with the Institute’s mandate and present a research agenda with clear relevance to policy issues. Historical topics are appropriate if they promise to shed light on contemporary issues. Area studies projects and single case studies will be competitive if they focus on conflict and its resolution, apply to other regions and cases, or both.Peace Scholar awards may not be made for projects that constitute policymaking for a government agency or private organization, focus to any substantial degree on conflicts within U.S. domestic society, or adopt a partisan, advocacy, or activist stance.Eligible CandidatesCitizens of any country may apply. Applicants must be enrolled in recognized doctoral programs (for example, Ph.D., S.J.D., Ed.D., Th.D.) in accredited universities in the United States. Successful candidates must have completed all course work and examinations towards their doctoral degrees by the time their fellowships begin.Selection ProcessPeace Scholar applications are vetted through a rigorous, multi-stage review that includes consideration by independent experts and professional staff at the Institute. The final authority for decisions about Peace Scholar awards rests with the Institute’s Board of Directors.Selection CriteriaSelection of fellowship candidates is based on the following factors:* Project Significance. Does the project address an important topic of relevance to the USIP mandate and the field of international peace, conflict, and security studies?* Project Design. Is the project soundly conceived? Does it identify a key problem to be analyzed, and does it have a clear methodology?* Potential as a Peace Scholar. What is the applicant’s record of achievement and/or leadership potential? What is the applicant’s capacity to benefit from and make professional use of the fellowship experience in subsequent years?Terms of AwardPeace Scholar Awards are currently set at $20,000 for 10 months and are paid directly to the individual. Peace Scholar awards may not be deferred. They generally may not be combined with any other major award or fellowship except in special circumstances and with the written approval of the Institute.Peace Scholars carry out their fellowship work at their universities or other sites appropriate to their research. They are expected to devote full attention to their work and provide periodic reports to the Institute. Peace Scholars may be invited to give a presentation at the Institute and to participate in Institute workshops, conferences, and other activities.Components of a Successful ProposalThere is no single formula for preparing a sound proposal. However, many successful applications for USIP Jennings Randolph Senior Fellowships have certain elements in common. These elements are outlined in the document attached below.*   Read “Components of a Successful Proposal” (.pdf)For further information: contact the JR Program at [email protected] website Similar Stories United Network of Young (UNOY) Peace Builders Forum Peace Scholarship Dissertation Program for Students at U.S. Universitiescenter_img Leave a Reply Cancel ReplyYou must be logged in to post a comment. ← 4th World Biennal of Student Poster 2010, Serbia Weidenfeld Scholarships at the University of Oxford → Call for Long-term EVS Volunteer in Georgia International Social Science Summer School in Ukraine Pocket Redditlast_img read more

May 18

Innovate Grants for Artists and Photographers

first_img LinkedIn 0 Reddit ← The M100 Young European Journalists Workshop  BenefitsInnovate Grant distributes USD 550.00 grants each quarter, to one Visual Artist and one Photographer. Grant cycles are in the Spring, Summer, Fall, and Winter.Winners will be featured on our website and will receive a one time unrestricted USD 550.00 grant. All applicants retain the right to the work they submit.The application fee of $25 USD (non-refundable) helps offset our administrative costs, enabling us to continue to support artists and the creation of their innovative work.How to Apply?All that they require is your:— Name— Email— Website (Optional)— Grant Category— 3-5 Images of Your WorkFor more information, and in order to apply, please visit the official web page. Innovate Grants for Artists and Photographers Visual Artists and Photographers 18 years and older, from all around the world, are eligible to apply. All media and genres are accepted:PaintingPrintmakingDrawingSculptureFilm / VideoMixed MediaInstallationNew MediaPhotographyPortraitConceptualStill LifeBlack + WhiteDocumentaryStreetCompositeCollage Art Wall Installations Tweet +1 XIV International Compostela Prize for Picture Books 2021 Goethe-Institut Travel Grants 2021 for Artists from Abroad to Perform in Germany Share 0 Pocket Deadline: 25 August 2020Open to: visual Artists and photographers 18 years and older, from all around the worldBenefits: innovate Grant distributes USD 550.00 grants each quarterDescriptionInnovate Grant is a new initiative that supports artists and photographers through quarterly grants.They believe that new ideas come from sparks of inspiration and aim to provide just that, access to small and mighty bursts of financial support so that you can focus on making your important and innovative work.Innovate Grant was created out of the frustration of applying to grants with time-consuming requirements. These lengthy applications took valuable time and energy away from making new work. Countless hours were always sacrificed in either writing artist statements, crafting project proposals and getting letters of recommendation.They believe that time is one of the most valuable components to fostering creativity and innovation. Their aim is to provide the time you need to be fully immersed in your ideas and in creating your work.Keeping the grant process simple enables them to continue to support you on your important journey of creation, inspiration, and innovation.Eligibility July 3, 2020 Published by Bojana Similar Stories Danish Government Scholarship for MSc in Engineering →last_img read more

May 12

The GamesIndustry.biz Podcast: Does E3 need PlayStation?

first_imgThe GamesIndustry.biz Podcast: Does E3 need PlayStation?In this special episode, we share our thoughts on the potential fallout of Sony’s decision to skip the year’s biggest games showcaseGamesIndustry StaffTuesday 14th January 2020Share this article Recommend Tweet ShareCompanies in this articleGI PodcastSony Interactive EntertainmentRebekah, Chris and Brendan come together for a special edition of the podcast, discussing this week’s biggest news: Sony will not be attending E3 for the second year in a row.While the platform holder has other plans to get the PlayStation 5 in front of the masses ahead of its launch this Christmas, including attendance at “hundreds” of other consumers events throughout the year, we ponder some of the reasons the company has opted out of the industry’s biggest annual showcase.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games We also discuss why so many major publishers, such as EA, have diminished or removed their E3 presence over the past few years, and speculate as to how the ESA can transform the event in a way that wins them back.This is an additional podcast to our usual weekly show. Our latest breakdown of key news stories — including whether Nintendo needs to launch Switch Pro this year, how Pokémon Sword and Shield’s Expansion Pass is the right direction for the series, and why Battlestate Games has not put playable women in Escape From Tarkov — is available to download here.You can listen to our latest episode below, subscribe to our RSS feed, or download the file directly here. It is also available via Spotify, iTunes, Google Play, Stitcher, Overcast, Player FM, TuneIn and other widely-used podcast platforms.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Publishing & Retail newsletter and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesPodcast: IO’s independence, with Hakan Abrak | GI Live OnlineHitman studio’s CEO on the journey to self-publishing and achieving the vision for the World of Assassination trilogyBy GamesIndustry Staff 4 days agoSony’s cross-play deal seems a smart solution to a complex problem | OpinionThe royalty Sony and Epic agreed to open up cross-play on PlayStation has caused anger – but it’s a nuanced response to the growing complexity of the industry’s revenue modelsBy Rob Fahey 5 days agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more