Category: fofabvlic


King Sturge confident for 2008 after record financial performance

first_imgJoint senior partner Chris Ireland told Property Week that trading in the first half of the current financial year – to 31 October – was ‘very good, ahead of budget’. He added: ‘The second half will be more challenging but the rest of our business is making up for the investment slowdown.’Ireland would not disclose the 2008 target for revenue and profit, but admitted it was ‘slightly lower’ than last year because the firm had anticipated a property downturn. Opportunity in uncertainty‘We see market uncertainty as a source of opportunity,’ Ireland added. ‘We expect the current environment to enable us to achieve our future strategic goals of expanding our European shopping centre, hotel and leisure groups, as well as assisting us in moving further into central and eastern Europe.’Ireland and the other joint senior partner Richard Batten were speaking as they revealed King Sturge’s financial results for the year to 30 April – the second set since converting to a limited liability partnership. TurnoverTurnover was up 22.5% to £197.6m, of which £160.4m came from the UK and £37.2m from overseas. Post-tax profit rose by a third from £38.7m to £50.5m. After accounting for income retained by European subsidiaries and a £5.9m contribution to the pension scheme, the distributable profit to the 66 equity partners was £40.6m, giving them £615,000 each on average. Individually the remuneration ranged from £270,000 to £2.5m, which was paid to Phil Marsden, the head of international co-investment. The highest-paid salaried member of staff earned £425,000.last_img read more


Chevron claims future of Australia’s LNG projects at risk

first_imgGet instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270. Subscribelast_img


2015 on Track to Break Record in Dry Bulk Scrapping?

first_imgThe 2015 appears to be running on a path toward becoming another record year in the dry bulk demolition activity.The monthly average for the first six months in 2015 is 3.3m DWT. In 2014 the first half year averaged at 1.33m DWT per month, according to the stats presented by international shipping association BIMCO.April 2015 saw 5.36 million DWT being retired from active service, which was the highest on record ever for a single month, BIMCO said.The record came on the back of continued poor earnings and deteriorating market conditions in dry bulk shipping, evidenced by the Baltic Dry Index (BDI) staying below 600 from 2 February to 13 May.68 Capesizes demolished so far in 2015In 2012, which is the largest demolition year on record with 33.4m DWT leaving the fleet, the monthly average was 2.79m DWT.Based on these figures, it can be derived that we might be heading for an even higher level in 2015.The preliminary amount of dry bulk tonnage being demolished during the first half of 2015 is 20 million DWT. During the first half of 2012 we saw 18 million DWT leaving the fleet.Chief Shipping Analyst at BIMCO, Peter Sand, says: “As the year progresses, BIMCO expects the demand side to get stronger in connecting with rising volumes.  This should positively impact the market conditions but at the same time also limit the demolition activity.In line with our recent adjustment of expectations for demolition activity in 2015, we do not see a new record year in spite of the strong start of the year.”A total of 262 dry bulkers being demolished in 2015According to BIMCO, since the beginning of the year a total of 68 Capesizes have been demolished, therefore it can be expected that the record from 2012 where 70 Capesizes were demolished during the full year could soon fall.The Handysize segment was the busiest sub-segment in all of the six months when  activity by number of ships being recycled is measured. A total 104 Handysizes have left the fleet for good so far in 2015. The total number of dry bulkers being demolished now stand at 262 ships for the year.The fleet growth is the largest amongst the dry-bulk segments as newbuilt Supramaxes keep coming from the shipyards. However, earnings have out-performed all the other dry-bulk segments from mid-February to end of June, leaving little reason for engaging more often with the blow torch for Handymax owners.“The relatively low level of Handymax scrapping is a testament to a versatile sub-segment which is able to deliver what the market wants even when the overall demand side is losing ground. Fleet growth for Handymax/Supramax segments stand at 3.5% since the turn of the year”, adds Peter Sand.last_img read more


Consumer research: will it tell you all?

first_imgRecent consumer and market research, with the debates they foster, reminded me to be careful when looking at and using research findings. There are two quotes that are worth keeping in mind when looking at research data and reports; both are currently relevant to the legal services market. Research that is well planned and uses a wide and large sample size can provide valuable tools for you to use in planning how you run your business. Henry Ford is reported to have said: ‘If I’d have asked the customers, they’d have asked for a faster horse.’ The legal services market is changing with a driving force that is from the supply side. This is a distinction I have covered in previous articles but is worth repeating. The consumers of legal services are not asking for change and in general know little about it. What they do want is a solution to their legal problem. To prosper in the new legal services market you need to tell the consumer what they can have. Good consumer research indicates how and why the consumer buys legal services. You can use that to see how your firm can change its services and promotions to meet that demand. On the demand side, the buying behaviour of legal services consumers in the runup to alternative business structures has changed very little so far. The ‘faster horse’ versus a car fits with the choice your firm has: ‘Do we continue in the traditional manner or attempt to reinvent ourselves.’ I’d suggest you need to consider both approaches, depending on which set of clients you want to provide services for in the future. If the clients want a faster horse or a new way of getting from point A to point B, it’s up to you to tell them the benefits of using your firm’s services in comparison to the alternative they can find. How to use consumer research in your firm leads on to the second quote. David Ogilvy provides a good starting point. He is reported to have said: ‘Research, they use it as a drunkard uses a lamp post – for support, rather than for illumination.’ Much of the debate around research falls into a discussion polarised between ‘this supports our position’ to the ‘this is rubbish and we should ignore it’. But this doesn’t help you plan you business. Illumination is the key point for me: ‘What is it that our future clients want from us?’ As we head into the potentially darker days of increased competition and changing market needs, we can use reliable research to reveal a way forward. What is it that our clients want from us or our competitors? Since this is a brave new world anything is possible, but can we use the research to plan for a profitable business? If the research comes from an independent source with a large sample size and well-designed questions, it will provide that valuable illumination to make business decision by. The discussions within your firm need to focus on the changing expectations or requirements of clients and how your services meet those needs alongside the alternative a consumer has to choose from. I would suggest that the only wrong conclusion, as David Ogilvy suggests, is a ‘continue as we are’ strategy. The market on both supply and demand sides will continue to change rapidly – innovation and development must be seen as a continuous process, informed by good research evidence. We should not dismiss other research information, but it’s worth looking closely at how the questions are worded and the sample size to understand any bias that might have crept in. You may run your own client surveys that provide useful feedback on your services, but that is not consumer research since the sample is small and already biased towards the firm. Both Henry Ford and David Ogilvy had a view of their business’s future and built profitable businesses on that by satisfying customer needs profitably. You know your current clients but where will the future clients come from if your services do not match their needs?last_img read more


Paperless working concerns

first_img Richard Atkinson is chair of the Law Society criminal law committee As many defence practitioners will be aware, the Crown Prosecution Service is rapidly moving forward with its plans to achieve a paperless office through its Transforming Through Technology (T3) project. The impetus to achieve this ‘holy grail’ of the paperless office – first spoken of in the commercial world in an interview given to Business Week on 30 June 1975 and yet to be achieved – comes from the impending spending cuts which the CPS faces. The aim of greater digitalised working and the financial savings that this can bring are clearly to be welcomed. Defence practitioners, who in large part have for many years been embracing technological advances to increase their efficiency and save costs to their businesses, will recognise the laudable aims of this project. They will also, however, immediately recognise the huge scale of the task that the CPS has set itself. Moreover, there will be considerable concerns that in the rush to save money those savings may come not from reducing costs but from transferring them from the prosecuting agencies to the defence. In recent months there has been increasing engagement with the defence community in the T3 project and a national T3 Practitioners Group has been set up on which there is defence representation from the Law Society and various practitioner groups. At these meetings, and others held regionally, major areas of concern have been identified. While the problems are acknowledged, no pause is being allowed in the progress of the project to resolve them. We are asked to take it as a matter of faith that they will be resolved in time. I do not share that optimistic view. The issues that have to be addressed are fundamental to the progress of the project. Defence practitioners would be putting themselves at great financial risk if they were to sign up to this project until these issues have properly been resolved. Of many outstanding issues, perhaps the most significant relates to secure email – the linchpin of the whole project. The present secure email system is not fit for purpose. Although much vaunted by the CPS, secure email has a number of restrictions which make it highly impractical for comprehensive use by the defence community. Secure email is governed by a Ministry of Justice protocol, which places many restrictions on its use. Examples include the use of cloud-based technology; the use of mobile handheld devices for receiving secure email; and the forward transmission of material received by secure email other than by secure email itself. These restrictions mean that, at a time when many small and medium-sized firms are being told that the most cost-efficient method of server technology is through a cloud-based system, the secure email protocol prohibits this. It means that practitioners will not be able to receive secure email at court on laptops or handheld devices. This is not an issue for the CPS, which intends to access its own secure network from court but defence practitioners understandably will not have access to this. Further restrictions on secure email will mean that if you are sent a prosecution document, for example an expert’s report, you are not able to forward that report to your own expert unless they also have secure email. You will not be able to forward material to your own client. These are fundamental issues which need to be resolved before secure email can be of any significant benefit to defence practitioners, and before defence practitioners can be expected to sign up to the project. The T3 project envisages the service of all prosecution material by secure email. Printed copies of documents will no longer be available. As defence practitioners know, this will raise very significant issues when it comes to payment in the Crown court. Although the matter is being addressed, it has yet to be finalised what the Legal Services Commission will accept as counting towards the PPE page count of material served by electronic means. No one has yet addressed the issue of solicitor access to the custody areas in courts with laptops or tablets. If material is to be served and stored digitally, then the defence must be able to take that material into the cells to obtain instructions from clients in custody. It is not acceptable to require the defence to print out copies of this material for their clients in custody. This would simply be a transference of cost from the CPS to the defence. How material is served on unrepresented defendants has also still to be resolved. There remain concerns about the adequacy of the necessary infrastructure for the proper implementation of the T3 project. Many courts do not have enough power points to allow practitioners to use electronic devices. If material is to be supplied electronically, it is essential that all courts have free Wi-Fi access available for practitioners. Secure storage facilities should be provided. The capital cost of the extra hardware and software required by CPS staff will be paid for from the public purse. Will the LSC offer to help defence solicitors purchase this kit? If there are savings to be made to the public purse from embracing this project, then surely these benefits should be applied to both parties in criminal cases. A transfer of funds from the CPS to the LSC to allow for the payment of a grant to defence practices to implement the necessary changes would enable the whole criminal justice community to fully embrace digital working. This, too, needs resolution in advance of the defence community embracing the project. Defence practitioners are not luddites, nor are they fools. Embracing technology where that technology leads to greater efficiency and cost savings is something to be welcomed. However, the advantages to the defence community of agreeing to work with the T3 project, in its present form, are not yet evident. The Law Society and practitioner groups will continue to lobby for these matters to be resolved and for an acceptable scheme to be made available. Until then, I would caution defence ­practitioners against signing up to this project.last_img read more


Commission presses ahead with ‘equal merit’ diversity preference

first_imgEthnic minority and women applicants to the bench could be chosen ahead of white men of equal merit under a scheme given a final go-ahead by the Judicial Appointments Commission (JAC) today.The ‘equal merit provision’ will mean that, in exercises to recruit judges from 1 July, where two or more candidates are of equal merit, a candidate from an under-represented group may be selected on the basis of race or gender.Under-representation will be determined by reference to national census data and data published by the Judicial Office showing the self-declared diversity of the courts and tribunals judiciary.The change was enabled by the Crime and Courts Act 2013, which amends the Constitutional Reform Act 2005. In the JAC’s public consultation last year, 69% of the 49 substantive responses supported the application of the provision and 29% said the commission should not apply it at all.JAC chairman Christopher Stephens (pictured) said today: ‘The provision gives the JAC another tool to use in continuing to improve the diversity of the judiciary.’He said: ‘It will not solve the issue of increasing diversity on its own. However, it could make a positive contribution alongside the other efforts of the JAC, the legal profession, government and the judiciary.’The JAC will take a ‘careful approach’ to implementing the provision, he said, stressing it will continue to select candidates on merit.From June 2015 the JAC will report in its six-monthly official statistics the number of instances where an individual has been selected following application of the provision.Justice minister Shailesh Vara welcomed the policy, saying: ‘I am delighted with the hard work the Judicial Appointments Commission has done to devise a process to ensure the application of the equal merit provision. I welcome this start.’He added: ‘I am also pleased that in the interests of greater diversity as more data becomes available on other protected characteristics, such as disability and sexual orientation, the JAC will consider extending the application of the equal merit provision.’Law Society president Nicholas Fluck said: ‘The Society works hard to encourage solicitors to consider judicial appointment as a career and we are committed to improving the diversity of the judiciary and therefore supported the inclusion of this provision in the Crime and Courts Act 2013.’He said: ‘The Society hopes that, into the future, the JAC will be able to extend the diversity characteristics which can be considered, to include, for example, disability and sexual orientation. This is one step in a long-term campaign to achieve a more representative judiciary.’last_img read more


SRA bans ‘solicitor’ who lied to senior judges

first_imgAn Oxfordshire man who lied to senior judges by pretending to be a solicitor has been banned by the Solicitors Regulation Authority from working in a law firm without the regulator’s permission.Mohammed Kabba, of Kidlington, Oxfordshire, was sentenced to 16 months in prison by Birmingham Crown Court last year for attempting to pervert the course of justice.A decision published by the SRA states that Kabba, on 25 September 2012, falsely represented to a Home Office official that he was a member of a firm of solicitors, ‘when this was not the case’.On 25 February 2013, Kabba sent a fax to the Home Office in which he ‘deliberately’ provided the department with information ‘which he knew to be false’.The information consisted of injunctions in place to prevent the Home Office from removing his client from the country.Later that day, the regulator says Kabba made a telephone application to Mr Justice Mitting at the Royal Courts of Justice for an injunction preventing his client from being deported. Kabba falsely told Mitting he was a solicitor.Following Mitting’s decision, Kabba made a telephone application to Lord Justice (Sir Stephen Price) Richards in the Court of Appeal. He falsely told Richards he was a solicitor.The SRA’s decision states that Kabba ‘has occasioned or been a party to, with or without the connivance of a solicitor, an act or default in relation to a legal practice which involved conduct on his part of such a nature that in the opinion of the [Law Society] it would be undesirable for him to be involved in a legal practice’ in any of the ways set out in the regulator’s decision without permission.The SRA says Kabba was involved in a legal practice.The decision provides no details of any firm.last_img read more


Former Akin Gump partner charged over expenses claims

first_imgGlobal firm Akin Gump has said it is ‘deeply troubled’ by events leading up to one of its partners being charged with misconduct.The SRA has referred Igor Krivoshekov to the Solicitors Disciplinary Tribunal over events that took place while he was at the firm’s central London office.It is alleged that between December 2016 and June 2018, he submitted expense claims to the firm for expenses that were not incurred. It is further alleged that he amended electronic taxi receipts from May 2008 which had been altered to show his own name as the person ordering the taxis, instead of the original recipient.The allegations are subject to a hearing before the tribunal and are as yet unproven.In a statement, Akin Gump said it was ‘deeply troubled’ by the matter and took steps to thoroughly investigate Krivoshekov’s conduct before obtaining his resignation. No client was prejudiced by his conduct, and the firm said it made appropriate reports to the SRA and other authorities.The statement added: ‘Honesty and integrity are of paramount importance at Akin Gump.’The cross-border transactions partner was held up as a significant capture when he joined Akin Gump in December 2016. His practice focused on mergers and acquisitions and other private equity transactions, particularly in the energy and natural resources sector.last_img read more


Franke Scores Five; Normandy Rolls Past Brecksville 9-4 in Bruce Anderson Memorial Hockey Tournament

first_img Matt Loede has been a part of the Cleveland Sports Media for over 21 years, with experience covering Major League Baseball, National Basketball Association, the National Football League and even high school and college events. He has been a part of the Cleveland Indians coverage since the opening of Jacobs/Progressive Field in 1994, and spent two and a half years covering the team for 92.3 The Fan, and covers them daily for Associated Press Radio. You can follow Matt on Twitter HERE. Matt Loede PARMA, OHIO – After a solid season a year ago in which they won 19 games, the Normandy Invaders started the new year with a huge day from junior Alex Franke and a 9-4 win over the Brecksville Bees in second game of the Bruce Anderson Memorial Hockey Tournament.Franke scored five goals in the win, including two early on to get the Invaders off to a quick start as they led 5-0 after one period and outshot the Bees 19-5 in the first 15 minutes.“We got good pressure and a lot of shots on net early,” Franke said. “We’ve been working good with the team early on so it was good to get a win and build some confidence.”The Invaders kept it up early in the second period, with two more goals early, the second from Sophomore Brennan Sutton to give Normandy a 7-0 advantage.The Bees got on the board with about four minutes left in the second period, as John McSweeney got his first of the year, cutting the lead to six.Normandy outshot the Bees 29-8 after the first 30 minutes of play.Brecksville made it a five-goal game as center Shaz Merchant scored with Creighton Hudock getting the assist on a power play goal to make it 7-2.Franke though continued his onslaught, as he got his fourth goal of the day 9:11 left with Sutton getting an assist to put Normandy up 8-2.He wrapped up his five-goal effort with 5:49 to play after the Bees got another goal to make it 8-3, as this time he scored unassisted making it a 9-3 game.The Bees closed out the scoring on a goal with two seconds to play with the game already clinched, as center Merchant found the net a second time to finish the scoring at 9-4. The Invaders will take on Orange on the winner’s side at 6pm on Saturday. Brecksville continues in the tourney at 4:15pm Saturday taking on Lakewood. Click Below to see Photos from the Invaders 9-4 Victory. Pages: 1 2 Related TopicsAlex FrankeBrecksville BeesBruce Anderson Memorial Hockey TournamentNormandy Invaderslast_img read more


Kembali Sementara ke Tiket Manual, Antrean Mengular di Stasiun KRL Jabodetabek

first_imgAntrean calon penumpang di Stasiun Bogor. Ada pemandangan yang berbeda di Stasiun Bojong, Bogor pada pukul 04.00 pagi hari ini (23/7/2018). Tidak seperti biasanya, antrean calon penumpang KRL mengular hingga puluhan meter di depan konter tiket. Begitu pula di Stasiun Bogor (kota), diwartakan jumlah antrean calon penumpang tejadi cukup panjang. Pemandangan yang tak lazim ini merupakan buntut dari proses pembaharuan dan pemeliharaan sistem E-Ticketing yang telah berlangsung sejak 21 Juli 2018.Baca juga: Depo KRL Terbesar di Asia Tenggara, Ternyata Ada di DepokDari pantauan, tidak semua stasiun mengalami antrean panjang, seperti di Stasiun Klender, Stasiun Rawa Buntu, dan Stasiun Tanah Abang misalnya, sejak pagi hari tidak terjadi antrean tiket yang panjang. Dikutip dari siaran pers PT Kereta Commuter Indonesia (KCI), pembaharuan sistem dan pemeliharaan dilakukan sejak Sabtu. Sebagai bentuk mitigasi jika proses pembaharuan masih membutuhkan waktu maka untuk kelancaran mobilitas pengguna KRL pada Senin 23 Juli 2018 transaksi tiket KRL akan menggunakan tiket kertas yang diberlakukan di 79 stasiun KRL dimulai dari perjalanan kereta pertama hingga kereta terakhir.Sebagai pengganti sistem E-Ticketing, PT KCI menjual tiket kertas seharga Rp 3.000 ke semua stasiun tujuan. Untuk mempercepat proses transaksi pengguna jasa dihimbau untuk menyiapkan uang tunai sesuai tarif tiket kertas. Prosedur pembeliannya, pengguna dapat mengantri di loket maupun pada petugas di luar loket yang melayani pembelian tiket kertas ini.Satu tiket kertas hanya dapat digunakan oleh satu orang pengguna untuk satu kali perjalanan KRL. Di stasiun awal, tiket kertas perlu diperlihatkan kepada petugas untuk ditandai bahwa tiket tersebut telah terpakai dan selanjutnya disimpan oleh pengguna jasa sebagai tanda bukti perjalanan.Perubahan sistem dari E-Ticketing ke manual diakui banyak pengguna jasa cukup mengagetkan, banyak penumpang yang tidak siap dengan uang pas, atau sebaliknya, petugas konter tiket yang tidak siap dengan uang kembalian. Dari hasil pantauan, panjangnya antrean salah satunya dikarenakan transaksi tiket yang jadi lebih lama.Sistem tiket elektronik KRL telah berjalan sejak Juli 2013 atau lima tahun yang lalu. Pembaharuan dan pemeliharaan sistem dalam skala keseluruhan yang berlangsung saat ini tidak dapat dihindari untuk menjaga keandalan sistem ini di masa yang akan datang. Ada kabar yang menyebut bahwa tengah terjadi pergantian vendor, dari yang selama ini dikelola anak perusahaan PT Telkom menjadi ke perusahaan dari grup PT KAI.Baca juga: Hindari Berebut Masuk KRL, PT KCJ Buat Garis Batas Antrean di StasiunSampai berita ini diturunkan, belum ada keterangan resmi kapan sistem E-Ticketing kembali digunakan. Berdasarkan keterangan dari petugas di Stasiun Tanah Abang, ada kemungkinan sistem E-Ticketing akan kembali digunakan pada Senin sore ini.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Like this:Like Loading… RelatedTerlambat Karena Gangguan KRL? Jangan Lupa Minta Surat Keterangan Terlambat dari Petugas!24/07/2018In “Darat”KRL Premium, Apa Bedanya dengan KRL Reguler?21/12/2018In “Darat”Inilah Stasiun Aman dan Rawan Pencopet di Jabodetabek07/03/2018In “Darat”last_img read more