Entain set to acquire Enlabs in April as 94.2% of shareholders back deal

first_img Entain, through its wholly-owned subsidiary Bwin, has completed its public cash offer to shareholders of Enlabs at a price of SEK53 (£4.48/€5.21/$6.21) per share. 22nd March 2021 | By Conor Mulheir This separate offer has been accepted by holders of 1.35m out of a total 1.4m warrants allotted and transferred to participants in the incentive programme. Topics: Strategy M&A Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Full details of the offer were published later that month, with Entain explaining that the deal would help Enlabs expand into newer markets such as Ukraine and Belarus. The offer was subsequently increased in March, with Entain increasing the price from SEK40 to SEK53 per share, after which the majority of shareholders in Enlabs backed the offer Regions: Sweden The offer does not include warrants issued by Enlabs and acquired by employees under the company’s incentive programme. The operator now intends to initiate compulsory acquisition proceedings relating to Enlabs shares not tendered in the offer, and to request that the Enlabs board applies for a delisting of the shares from Nasdaq First North Growth Market. Entain’s offer to acquire Enlabs was first put forward in January, with the operator offering to pay SEK40 per share for the business. All conditions for the completion of the offer have been satisfied, Entain said, and the operator has therefore declared the offer unconditional. M&A Entain set to acquire Enlabs in April as 94.2% of shareholders back deal Tags: Enlabs Entain Entain has decided to extend the acceptance period until 1 April, 2021, to give remaining Enlabs shareholders more time to accept the deal. The revised offer has been accepted by shareholders holding a total of 65.9m shares, approximately 94.2% of the total number of shares and votes in Enlabs. In a separate offer, Entain has proposed acquiring all interests owned by the warrant holders at a price equal to the see-through value of the warrants on the basis of the offer price. Payment for the Enlabs shares tendered by 18 March is expected to occur on or around 30 March, 2021. This means the acquisition is expected to close around 13 April. Entain has said it will not extend the acceptance period further. Email Addresslast_img read more

Charity sector meets to discuss role in future domestic disaster response

first_img Melanie May | 29 January 2018 | News Charities, umbrella bodies, fundraising platforms and charity regulators all met last week at an event hosted by the Charity Commission to discuss the sector’s role in responding to future domestic disasters in the UK.The Charity Commission hosted a roundtable on Friday 26 January, attended by 25 large and small charities, umbrella bodies, fundraising platforms and charity regulators to discuss how the sector could respond to the likes of terror attacks, natural disasters, and other large scale national crises in the UK.Attendees agreed to the principle of creating a collective framework to co-ordinate and enable future charity sector responses to national critical incidents. They also agreed to form a working group to develop the framework and operating principles behind any future disaster response by charities.Those attending included the Fundraising Regulator, NCVO, OSCR, City Bridge Trust, London Emergencies Trust, British Red Cross, Muslim Aid, GoFundMe and JustGiving.The creation of the working group follows last year’s tragic events in the UK, which included the Grenfell Tower fire and the terror attacks in Westminster, Manchester, London Bridge and Finsbury Park.The group will work closely with other charities as well as national and local government where required to provide a swift, efficient and impactful response to any future disasters.David Holdsworth, Deputy Chief Executive of The Charity Commission said:“Charities by their very nature help people in times of need and the tragic disasters that we’ve seen in the UK over the past year have highlighted the great work charities do to support victims and channel the public’s compassion and generosity. Charities’ experience and expertise, as well as their ties to local communities, often make them best-placed to respond in these situations.“Advances in technology combined with the consistent sheer generosity of the British public makes it an opportune time for charities to consider how they can work together to maximise their support for UK citizens in times of need.”  195 total views,  1 views today Advertisement  196 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis6 Tagged with: Charity Commission collaboration disaster AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis6 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Charity sector meets to discuss role in future domestic disaster responselast_img read more

Cameroon’s attorney-general asks court not to release journalist

first_img“It is stated in black and white in the medical reports that were submitted to the court that only this journalist’s provisional release will enable him to undergo appropriate medical treatment,” said Arnaud Froger, the head of RSF’s Africa desk. “Continuing to hold Amadou Vamoulké after he has already spent more than three years in preventive detention on charges never substantiated by the prosecution, although two neurologists confirm that he has a severe illness and although one of his co-defendants is not in detention, constitutes horrific persecution. There are no grounds, legal or moral, for keeping him in prison.” November 21, 2019 Cameroon’s attorney-general asks court not to release journalist May 19, 2021 Find out more Amadou Vamoulké, l’ex-directeur général de la CRTV lors de la 24e audience de son procès devant le Tribunal criminel spécial de Yaoundé, le 21 novembre 2019. Organisation RSF_en When RSF visited Vamoulké in prison at the start of this week, he said that he has “pains in both feet that keep him awake at night” and that he has received “no additional treatment or tests” since September, when he was diagnosed with neuropathy. Several members of RSF’s staff, British and Canadian embassy representatives and Cameroonian and foreign journalists attended today’s hearing, the 24th in Vamoulké’s trial on charges of misusing state funds when he ran the state-owned national radio and TV broadcaster, CRTV. After a group of French parliamentarians raised the case in February, the French foreign ministry said “the prosecution has not produced evidence of the appropriateness of its case,” and promised to pay close attention to the conclusions of the UN Working Group on Arbitrary Detention, to which RSF first referred the case in January. The hearing lasted only 12 minutes, the time it took for the court to hear the attorney-general argue that the request for his provisional release should be rejected because the gravity of the charges prevented him from benefitting from the Cameroonian criminal code’s “benevolent provisions.” Follow the news on Cameroon to go further Cameroonian journalist Paul Chouta sentenced and fined in defamation case On 12 November, RSF used an emergency procedure to refer his case to the UN special rapporteur on torture and other cruel, inhuman or degrading treatment or punishment and to the UN Working Group on Arbitrary Detention, enclosing copies of the two medical reports. Receive email alerts CameroonAfrica ImprisonedJudicial harassment May 31, 2021 Find out morecenter_img Cameroon is ranked 131st out of 180 countries in RSF’s 2019 World Press Freedom Index. News During today’s hearing, neither the attorney-general nor the judges made any reference to the fact that he is being denied appropriate medical care, which violates the most basic legal principles. The request for Vamoulké’s release, submitted by his lawyers at the previous hearing, was  accompanied by two medical certificates saying he needs tests and treatment that are not available in Cameroon. It also included a copy of the title to his home, because he has been kept behin bars on the grounds of “absence of a known residence.” Cameroonian reporter jailed since August, abandoned by justice system News Vamoulké was CRTV’s director-general from 2005 to July 2016, when he was arrested on a charge of misusing several millions of euros in state funds, not for personal ends but with the sole aim of benefitting CRTV. No evidence to support this charge has been produced at any of the 24 trial hearings so far held. Case against Amadou Vamoulké baseless, French lawyers tell Cameroon court News By asking Cameroon’s Special Criminal Court to reject a request for Amadou Vamoulké’s release at today’s hearing in Yaoundé, the attorney-general could be endangering this eminent journalist’s health, Reporters Without Borders (RSF) is calling for him to be granted access to the tests and treatment he needs. A decision is expected on 28 November. CameroonAfrica ImprisonedJudicial harassment News After the attorney-general presented his arguments, the court adjourned until 28 November to render its decision. Help by sharing this information April 23, 2021 Find out morelast_img read more

Ethisphere anuncia as Empresas mais éticas do mundo em 2021

first_imgLocal NewsBusiness Facebook Twitter By Digital AIM Web Support – February 24, 2021 WhatsApp TAGS  Facebook Ethisphere anuncia as Empresas mais éticas do mundo em 2021center_img Twitter WhatsApp Ethisphere’s 2021 Ethics Index, the collection of publicly-traded companies recognized as recipients of this year’s World’s Most Ethical Companies designation, outperformed a comparable index of large cap companies by 7.1 percentage points over the past five calendar years. Pinterest Pinterest Previous articleEthisphere gibt die weltweit ethischsten Unternehmen des Jahres 2021 bekanntNext articleGlobal BCL-2 (B Cell Lymphoma 2) Inhibitors Market & Clinical Trials Insight to 2025 – Non-beneficial Approval of Drugs Is Driving Growth – ResearchAndMarkets.com Digital AIM Web Supportlast_img read more

Do Banks Wait Until Economic Downturns to Build Up Loan-Loss Reserves?

first_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Do Banks Wait Until Economic Downturns to Build Up Loan-Loss Reserves? in Daily Dose, Featured, Market Studies, News Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland.  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago November 9, 2015 1,321 Views Do Banks Wait Until Economic Downturns to Build Up Loan-Loss Reserves? “In all likelihood, banks were increasing their loan-loss provisions at a time when it was more difficult and costly for them to do so,” the authors said.The authors compared the numbers on loan-loss provisions, which are a bank’s expectations of future loan losses, with net charge-offs, which are actual losses, from three different periods and found that the elevated level of loan-loss provisions as a percentage of net charge-offs during the 2008 crisis (187 percent) was still well below the ratio during the savings and loan crisis from the mid-1980s until the mid-1990s. The ratio of loan-loss provisions as a percentage of net charge-offs in 1987 during the middle of that crisis was well above 500 percent, according to the authors. By comparison, in the 10 years prior to the 2008 crisis, the ratio averaged 110 percent.The authors announced that new rules for loan-loss provisioning by the Financial Standards Accounting Board (FASB) are currently in the works.“The old approach (incurred loss), which does not allow banks to recognize loan losses until the actual default has occurred, will be replaced with a forward-looking, expected loss approach,” the authors wrote. “While the size of the losses will not likely change, the timing of their appearance on the balance sheet will. The new expected loss approach will entail more discretion on the part of bank managers.” The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Citigroup Plans to Issue $421 Million Securitization Bundle Next: Freddie Mac Plans to Use Proven Formula for Assisting HAMP Borrowers With Rate Increases About Author: Brian Honea One subject of much debate since the financial crisis has been what determines how much money banks keep in their reserve accounts to offset losses from loans that default, known as loan loss provisions.A report from the Federal Reserve Bank of Cleveland written by Constantine Madias and Lakshmi Balasubramanyan discusses the issue of how banks determine their reserve levels for loan-loss provisions. The authors found in the data on U.S. banks covering the last several decades, banks tend to undercontribute to the reserves during periods of prosperity, which forces them to build up reserves during less-than-prosperous economic times.Rules are in place to prevent bank managers from manipulating the timing (level) of the bank’s reported earnings by using the reserve accounts. The allowance for loan and lease losses (ALLL), which is the balance of the reserve account, does not impact the bank’s earnings; however, reported earnings are reduced when banks engage in a practice known as loan-loss provisioning, which is adding to the reserve account. As a result of the earnings being reduced, the shareholders’ equity is also reduced.“The accounting profession prefers this approach because it produces financial statements that reflect companies’ current situations more accurately,” the authors stated. “But financial regulators, who are more focused on the safety and soundness of banks, prefer an approach that helps banks accumulate an adequate supply of reserves before they are needed.”The authors noted that the typical scenario for economic downturns is for the number of problem loans to rise, along with loan-loss provisions. During the financial crisis of 2008 and 2009, commonly known as the Great Recession, net charge-offs totaled more than $50 billion, a historically high level. Meanwhile, the provisions for loan and lease losses more than tripled from 2007 to 2008 at the onset of the recession—from less than $20 billion to more than $70 billion in just a year.“In all likelihood, banks were increasing their loan-loss provisions at a time when it was more difficult and costly for them to do so.”Cleveland Fed Servicers Navigate the Post-Pandemic World 2 days ago Banks Cleveland Fed Loan-Loss Provisions 2015-11-09 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Banks Cleveland Fed Loan-Loss Provisions The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Sign up for DS News Daily Subscribelast_img read more

Jurisprudence Of Apology … A Lesson To Be Learnt

first_imgColumnsJurisprudence Of Apology … A Lesson To Be Learnt Kashyap Joshi28 Aug 2020 10:30 PMShare This – xSee the irony of our Indian Legal Profession and Judiciary: In a case of Senior Advocate Prashant Bhushan: the Supreme Court was asking: “What is bad in apology? If you are hurting someone, then what is wrong in apologizing? You should apply balm if you have caused hurt…” Whereas in a case of Yatin Oza, the Gujarat High Court has held in Suo Motu v. Yatin Narendra Oza: ‘……Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginSee the irony of our Indian Legal Profession and Judiciary: In a case of Senior Advocate Prashant Bhushan: the Supreme Court was asking: “What is bad in apology? If you are hurting someone, then what is wrong in apologizing? You should apply balm if you have caused hurt…” Whereas in a case of Yatin Oza, the Gujarat High Court has held in Suo Motu v. Yatin Narendra Oza: ‘… The school of thought of “Give slap, say sorry and forget” was not endorsed to by the Supreme Court in L.D.Jaikwal v. State of U.P. [(1984)3 SCC 405]’. Not only that, but the Gujarat High Court has invoked the jurisprudence of apology based on several decisions of the Supreme Court in past and present, and refused to accept the unconditional apology tendered by Yatin Oza. It is to be reminded that: on 21-7-2020, the Full Court of High Court of Gujarat has also notified that it has unanimously reviewed and recalled the designation of Mr.Yatin Oza as Senior Advocate. Mr.Oza is the President of the Gujarat High Court Advocates’ Association and facing charges under the Suo motu Criminal Contempt by order dated 09-6-2020[i] of the Division Bench of the High Court of Gujarat for his utterances, allegations and assertions in Live Press Conference dated 05-6-2020 (available on Facebook). Now, the Full Court of Gujarat High Court has already declined to accept the apology in his plea to re-confer his Senior Counsel Gown. The first judicial order dated 09-6-2020 of the Division Bench has inter alia directed [the direction no. (4)] that: “We also deem it appropriate to place before the Chief Justice for consideration at the hands of the full Court whether to divest the stature of respondent under contempt, of designation of a Senior counsel under the circumstances.” In the wake of above, the Full Court in its meeting dated 18-7-2020 took the above decision in exercise of powers conferred under Rule 26 of the High Court of Gujarat – Designation of Senior Advocates, Rules, 2018 and subsequently, after hearing Mr.Oza with his counsels, it has not accepted his unconditional apology for reconsideration of the same. Though, the petition challenging the abovementioned rule-26 is pending before the Supreme Court. It is interesting to note that in the recent order, the High Court of Gujarat has used the curious metaphor while passing the order that ‘… Every time scurrilous remarks against the Judges and the institution are made and when he realizes that there is no escape route, the weapon of unconditional apology comes to his rescue. This was permitted in the past upkeeping a rich tradition of Kshma Virsya Bhushanam (forgiveness is the jewel of the heroes) showing magnanimity every time he acted, even hoping, trusting and believing in the wise words that every saint has a past and every sinner a future, not only it has emboldened the person to go on attacking the institute with more fervency, if still permitted, this institution would be inviting for itself more and many such unsubstantiated, unsustainable and baseless attacks from various quarters.’ (Emphasis is of the author) Concept and perception of forgiveness and apology differs from person to person and more particularly, from the point of view of Giver (tendering) and Taker (accepting). Normally, apology is an expression of regret for something done or not done. However, in a case of Prashant Bhushan, when Justice Mishra asked the Attorney General: What is bad in apology? The AG said: ‘Admission of guilt is perhaps what it feels like.’ So, in a Criminal Contempt Case, apology can also be treated as an acknowledgement of an offence or failure to keep the standard, for which someone is expected. However, when one has confessed, it is up to authority to decide to take it, forgive or reject. Apologizing generally means: you have committed something wrong, but at the same time it also means that you value the other more than your ego. The Gujarat High Court, however, has dissected the entire notion of apology by framing the questions with regard to what amounts to bona fide apology. It is observed that ‘… There appears to be no guidance or parameters under Section 12 or under the act in this regard although the evolved standards are by judicial pronouncements, which are submitted by the Amicus Curiae. Whether the apology is tendered at the first available opportunity or at the earliest point of time?The language of apology, whether it is conditional or unqualified/unconditional and whether is it filled with remorse/contrition?Is apology bona fide or tendered to escape the route of punishment?Is the act of contempt done for the first time or is that a repeat performance?’ Aforesaid enlisted questions have not been answered separately, but the reasoning and findings cover almost all the aspects arising above. It appears that the High Court has firmly, but with heavy heart passed the order for not accepting the unconditional apology, as it is deeply hurt by the utterances, allegations and assertions. It is a common knowledge of all that conduct of a person accompanies by so many things: compliments and supplements escorted by behavioral patters, actions and convoys by thoughts and ideas. It derives from beliefs, impressions, opinions, viewpoints and surrounding factors of a particular person. No one can exactly explain the conduct of another in a particular/given situation. Higher courts frequently use the words in certain cases either to justify its reasoning or to mold the relief i.e. ‘in a peculiar set of facts’. Supreme Court does it for ‘doing complete justice in any cause or matter pending before it …’ (Article-142 of the Constitution). However, there is a very thin line between the subjective satisfaction and objective determination. Therefore, the Senior Advocate Mr.Datar submitted in Mr.Oza’s case that: ‘each contempt is unique …’. The High Court, however, has adjudicated the aspect of apology in its detailed analysis by incisive finding and rejected it. Yet, any apology has two sides. A Moral and A Legal. One’s conscience may convince him/her morally, when someone asking for mercy, but as part of authoritative institute, the Court has thought it fit to determine the bona fides of apology by giving legal reasoning and used its discretion as mentioned in Khudiram Das vs. The State of West Bengal [1975(2) SCC 81], where the Apex Court has quoted the famous words of Lord Halsbury in Sharp v. Wakefield: ” … when it is said that something is to be done within the discretion of the authorities … that something is to be done according to the rules of reason and justice, not according to private opinion … according to law and not humor. It is to be, not arbitrary, vague, fanciful, but legal and regular.”(Para-10) … Nevertheless, the above is also again subject to pending petition before the Supreme Court, where it will be tested … and this order, if challenged, it will be interesting to see how aspects of apology will be more unfolded and further described… At last, a quote from Benjamin Franklin is to be remembered: ‘Never ruin an apology with an excuse.’ Views are personal only.(Author is an Advocate practising at the High Court of Gujarat) [i] R/Criminal Misc. Application No.8120 of 2020 Next Storylast_img read more

Criminal Proceedings Are Not For Realization Of Disputed Dues, Reiterates Supreme Court

first_imgTop StoriesCriminal Proceedings Are Not For Realization Of Disputed Dues, Reiterates Supreme Court LIVELAW NEWS NETWORK20 March 2021 12:23 AMShare This – xThe Supreme Court reiterated that criminal proceedings are not for realization of disputed dues.A Criminal Court, exercising jurisdiction to grant bail/anticipatory bail, is not expected to act as a recovery agent to realise the dues of the complainant, and that too, without any trial, the bench comprising Justices Indira Banerjee and Krishna Murari observed.In this case, the Jharkhand High…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court reiterated that criminal proceedings are not for realization of disputed dues.A Criminal Court, exercising jurisdiction to grant bail/anticipatory bail, is not expected to act as a recovery agent to realise the dues of the complainant, and that too, without any trial, the bench comprising Justices Indira Banerjee and Krishna Murari observed.In this case, the Jharkhand High Court had granted bail to an accused, subject inter-alia to the condition of deposit of bank guarantee of Rs.53,60,000/- in the Trial Court.In appeal, the Apex Court bench took note of the facts of the case and observed that the disputes in the instant case are civil in nature and the complainant has also filed a civil suit for specific performance of an alleged agreement executed by the accused for sale of property in Himachal Pradesh, which is pending adjudication.  “In our view the High Court erred in making bail conditional upon furnishing of a bank guarantee which is as good as cash deposit having regard to the condition usually imposed by banks for issuance of bank guarantee”, the court said.  The bench also referred to Shyam Singh vs. State through CBI reported in (2006) 9 SCC 169, in which it was held that it is open to a Court to grant or refuse bail but to say that offence has been committed even at  the stage of granting bail and to direct repayment of any amount is both onerous and unwarranted.”It is well settled by a plethora of decisions of this Court that criminal proceedings are not for realization of disputed dues. It is open to a Court to grant or refuse the prayer for bail, depending on the facts and circumstance of the particular case. The factors to be taken into consideration, while considering an application for bail are, the nature of accusation and the severity of the punishment in the case of conviction; the nature of the materials relied upon by the prosecution; reasonable apprehension of tampering with the witnesses or apprehension of threat to the complainant or the witnesses; reasonable possibility of securing the presence of the accused at the time of trial or the likelihood of his abscondence; character behaviour and standing of the accused; the larger interest of the public or the State and similar other considerations. A Criminal Court, exercising jurisdiction to grant bail/anticipatory bail, is not expected to act as a recovery agent to realise the dues of the complainant, and that too, without any trial.”, the court said while setting aside the condition of furnishing bank guarantee of Rs.53,60,000/- Case: Manoj Kumar Sood Vs. State Of Jharkhand [ SLP (Crl) 1274/2021]Coram: Justices Indira Banerjee and Krishna MurariCounsel: Sr. Adv Rana Mukherjee, Adv Vishnu SharmaCitation: LL 2021 SC 171 Click here to Read/Download OrderNext Storylast_img read more

Time to take the fear out of partnerships

first_img Comments are closed. Time to take the fear out of partnershipsOn 28 Nov 2000 in Personnel Today Related posts:No related photos. TheAmalgamated Engineering and Electrical Union’s national officer John Lloydwrote in this column about the partnership agenda and asked if it was still aslippery concept  (14 November). Goodfor him. This subject needed airing and Lloyd is a great catalyst. What herecognises is that there is no one way to partnership between employer andemployees – that solutions and formulae will vary from company to organisation.I believethat there is a need to explore what partnership demands in terms of commitmentand what it can produce in terms of added value. There is also a need toovercome fear and create the opposite: a passion for and belief in whatpartnership can achieve.Tacklingthe fear is the first priority – it freezes management and other employeesalike and is self perpetuating. Management is afraid to communicate  because it doesn’t have all the answers andemployees fear to challenge because management is not involving them. Theirbelief is that they are not trusted and their ideas are not wanted. Socompanies remain inefficient and the productivity gap becomes worse.I attendedthe launch of The Silent Stakeholders paper by Industrial Society recently. Itargues for UK legislation on employee consultation based on evidence that goodconsultation leads to higher productivity and profits. I agree on the necessityfor consultation but I’m not sure about the route to getting there.The CBIargues against more legislation and regulation because of the perceived burdenon business. To me it is about effectiveness. Will extending the compulsion onconsultation create the enthusiasm in industry to make it work? The businesscase is strong, the application of consultation and partnership is weak.Partnershipsthat work do so because the participants believe in them and have redefinedtheir roles and arrived at a solution that fits the enterprise. What isunarguable is that involvement leads to high productivity and profit and apotentially sustainable business. The companies and unions that have practisedeffective partnerships have achieved this. Lloyd is right. Each one needs toarrive at the solution that suits and needs to go through a process, learningbest practice from peers, both management and unions.This is happeningat the centre for thought leadership on the shore of Rutland Water. Managementand unions are meeting at the Whitwell centre to participate in joint training,facilitated by Whitwell Learning and Ruskin College. People are looking tolearn, participate, contribute to research and explore the partnership agenda.The aim is to dump costly adversarial approaches and create wins that securejobs and futures.So what doyou think, Lloyd? Do you want to join us? You and your colleagues are most welcome, as are CBI members and otheremployers.ByProfessor Clive MortonIndependentHR consultant, chairman of Whitwell Learning, author and former vice-presidentof the CIPD Previous Article Next Articlelast_img read more

Managers fail selection test

first_imgManagers fail selection testOn 1 Jul 2003 in Personnel Today Previous Article Next Article Latest findings on how selection interviews are conducted suggest a traininggap among line managers.  Margaret Kubiceksurveys opinion on how best to sharpen their skillsA surprising number of managers are eschewing structure in favour of acasual approach to interviewing, according to the Recruitment Confidence Indexconducted by Cranfield School of Management in conjunction with Personnel Todayand the Daily Telegraph. Although four in 10 organisations rated the quality of interviewing in theircompany as high, nearly five in 10 employers said their interviewing was ofreasonable quality or below. One in five firms still base their selectiondecisions on gut reaction, and a mere 16 per cent provide regular formaltraining in interviewing techniques. We ask readers what role training can play in getting line managers’interviewing techniques up to scratch with their HR colleagues. Graham Jackson Senior manager, group training & development channels, HSBC Our training-for-selection interviewing has evolved into a multi-mediaapproach. The offer comprises CD-Rom, learning guide and intranet-basedprocedure manuals covering the theoretical, process and legislative elements.This is followed by a one-day workshop to enable learners to practice theirinterviewing skills and receive feedback. As with all skills-based training, individuals perform better and are moreconfident if the initial training is followed up on an ongoing basis withsituational coaching and feedback from line managers or mentors. Shaun Tyson Professor of HR management, Cranfield School of Management From the research, we saw a high reliance on intuitive judgement – it’s asthough the person doing the interview is all-seeing, all-believing,all-knowing, when, in fact, nothing could be further from the truth. Typicallywhat you have to do is react very quickly in interview situations, followleads, ask the right questions and not become diverted from seeking theevidence you need to make your decision. Bias and prejudices are inevitable, sothe risk of error is immense. Like any other skill, you need practice and help, even if you are quite agood interviewer. Otherwise you might start to develop bad habits, while notbeing in a position to get feedback. Colin MercerDirector of assessment and development, and chartered occupationalpsychologist, Wickland Westcott There are three things managers always assume they are good at – driving,making love and interviewing. Essentially, it is not a complex process to trainmanagers to interview well. The training should establish what the purpose of the interview is: togather data and get an accurate view of the individual, as well as convey animage of a professional organisation. A kind of introductory process of a dayor two is more than sufficient to get most line managers to a position wherethey can do a good job. I would then look to form a users’ network where they can share views andknowledge and then some kind of refresher – say six months down the line. Introducing them to a structured, step-by-step process is critical, and I’dalso train them in the three kinds of interview: historical, competency-basedand situational. Chris Dunn Talent manager, Marriott Hotels It is very important managers are clear about why they are interviewing, itis about predicting future performance. With less-experienced interviewers,they often know how to ask questions but don’t necessarily know what answersthey are looking for. We have five competencies we look for in all our people: thinking,leadership, drive for results, working with people and implementation. We havea competency framework they follow during interviews as well as offeringtraining and coaching for managers. I make it abundantly clear to everyone thatlegally we must get interviews right, take extensive notes and stick to thecompetencies. Colin RobinsonDevelopment manager, House of Fraser House of Fraser puts a lot of effort into its recruitment practices. In ourstores we train all of our senior management teams to recruit. Thisconcentrates primarily on gathering and assessing behavioural evidence and howto rate it against criteria for the job role. We basically accredit them torecruit. If we are unsure about a manager’s skills, they will recruit with anothermanager until they have proven themselves. We have found our managers haveresponded to this very well because if there is a good feeling about acandidate, then the evidence will help confirm this. Some managers havestruggled to document evidence from the interview or other activities in therecruitment process. Training has overcome this issue. Comments are closed. Related posts:No related photos.last_img read more

Sterling Equities lists renovated Chelsea mansion for $25M

first_img Share via Shortlink Message* Full Name* Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags French doors and window shutters that couldn’t be salvaged during the renovations were recreated, according to the report.The renovations were done about four months ago, but the family delayed listing until spring in hopes that the home would sell faster. Just last month, the Manhattan luxury market saw the largest number of contracts signed for properties asking $4 million or more since 2019.Fred Wilpon co-founded Sterling, but is perhaps best known for owning the New York Mets for several decades. Last year, he struck a deal with hedge funder Steve Cohen, who acquired the team for between $2.4 and $2.5 billion.[WSJ] — Cordilia JamesCORRECTION: This story originally stated the townhouse is owned by the Wilpon family. It is owned by Sterling Equities, the development firm founded by Fred Wilpon. Contact Cordilia James Fred Wilpon and Scott Wilpon (inset) with 334 West 20th Street (Getty, Compass)UPDATED, March 18 2021, 2:25 p.m.: After a two-year makeover, a historic Chelsea mansion owned by Sterling Equities is ready to go.The firm, led by real estate developer Fred Wilpon, listed a 19th-century Manhattan townhouse at 334 West 20th Street for $25 million, the Wall Street Journal reported.The 25-foot-wide home was recently renovated by Scott Wilpon, the nephew of the family patriarch, according to the publication. His changes included restoring the building’s Greek Revival facade.The 7,058-square-foot, five-story house has five bedrooms, a rooftop deck and a mud room with built-in dog washing facilities. There’s also a back garden, screening room, wine cellar and gym.Read moreNew York Mets owner offering his real estate expertise to other sports franchisesSigned contracts spike in Manhattan and Brooklyn in JanuaryMagellan sells Midtown Miami apartments for $154M ManhattanNYC Luxury MarketResidential Real Estatetownhouse marketlast_img read more