Youth project lost funding after office theft

first_imgNewsYouth project lost funding after office theftBy Staff Reporter – February 18, 2016 744 by Andrew [email protected] up for the weekly Limerick Post newsletter Sign Up FUNDING for a project diverting marginalised young offenders away from criminality was seriously jeopardised after an administrator was caught stealing thousands of euro.Martina Keane (40) of Glendale Lawn, Old Singland Road, Limerick was arrested after a complaint was made about financial irregularities at the Southill Youth Outreach Project where she worked as the office administrator.Based in the Garryowen Industrial Estate, the project, which caters for up to 80 youths a year, assists the reintegration of marginalised youths and young offenders who are trying to be diverted away from a life of crime.Ms Keane, the project’s administrator responsible for payroll, petty cash payments and banking, pleaded guilty to a number of sample charges before Limerick Circuit court relating to the theft of over €13,000.The court heard that in 2011, Siobhan Abbott was appointed as project manager and found that certain records and paper trails relating to the financial administration of the project.When confronted about questionable payments, pension contributions and missing invoices, Ms Keane admitted the thefts.Ms Abbott said that the discovery of the thefts raised questions with authorities over the “perceived lack of governance” of the project if an administrator was able to steal money.Ms Abbott said that Government funding was cut and the project was unable to provide certain activities and “jeopardised future funding at the time”.The court heard that the married mother of four told gardai and the board of management that times became hard and she subsequently became reliant on the money she was regularly taking from the project which she said became “easy to take after the first one”.Ms Keane said that she was “glad” the day came when she was confronted and owned up to the thefts. She subsequently left her position with the project due to illness.The court heard that Ms Keane had secured a new job and had amounted €2,500 in compensation and said that she wanted to repay the amount in full.Judge O’Donnell adjourned the case to October 5 next but said that he was making “no guarantees”. Advertisement Linkedin Twitter WhatsAppcenter_img Email Print Facebook Previous article200 jobs from €20million Limerick fuel plantNext articleKilmallock teen swims away the pain Staff Reporterhttp://www.limerickpost.ielast_img read more

Buyout costs could rise 10% over Solvency II capital reserves

first_imgHowever, while insurance companies can perfectly match pensioner liabilities in DB schemes, this is not possible for deferred and younger members where the liability is impossible to determine.This results in the insurance company needing to hold more capital for such liabilities.Insurers are currently negotiating with the PRA as to exactly how much capital should be required for each type of liability, based on their own capital and investment structures, with final determinations expected next month.The resulting system would see different capital requirements imposed on each insurer for the same liabilities based on how these are matched by investments.Melcer said the 10% was slightly “finger in the air” but that business written in 2016 would certainly be more costly to pension schemes than 2015.“There will be a range of outcomes depending on the insurer so the extent of cost increases will vary among providers,” he said. “The 10% is based on the insurance companies not adapting to the new environment.”Hymans Robertson partner James Mullins, said the 10% figure was an exaggeration, but accepted that prices could certainly rise at the start of 2016.“Insurers have been pricing for Solvency II for some time now. Pricing will change, but not a steep change to [10%],” he said.Mullins also suggested Solvency II, and the risk of higher pricing early in 2016, would see a boom in business towards the end of this year.“Some insurers have been quiet [on buyouts] waiting for Solvency II requirements to be signed off, so there could be a rush before it comes into play because of the 16-year rule,” he said.Charlie Finch, partner at consultancy LCP, also declared the 10% estimate was an over-exaggeration, but again agreed the start of 2016 could be more expensive.“Insurance companies will work on updating models over time to remove the consequences of new capital requirements.“Trustees probably shouldn’t buy in January or February but over time the pricing will not make a difference,” he said.Competition is also expected to impact the buyout market, as new entrants join the bulk annuities market.Scottish Widows is set to begin tendering for deals this month but will focus on pensioner buy-ins in the short-term, and assess buyouts by mid-2016.While buyout pricing could rise, insurance buy-ins, where the scheme exchanges assets for an insurance contract, will not as they are easily matched under Solvency II. Insurance companies could raise bulk annuity buyout pricing as deferred members will demand higher capital reserves under Solvency II, consultants warn.PwC suggested a “worst case scenario” of the cost of a buyout, where the insurance company takes on all liabilities of a defined benefit (DB) pension scheme, rising by 10% in 2016.However, pensions director and buyout adviser, Jerome Melcer, said this was a rough estimate based on a combination of stringent capital requirements by the UK’s Prudential Regulation Authority (PRA), unfavourable discount rates, and a high average liability duration.The issue stems from revised capital requirements under Solvency II coming into effect from 2016, meaning all business written in 2015 would be cheaper for insurers, with regulations allowing for a transitional period of 16 years for old liabilities to be covered under the new regime.last_img read more

Adrian defends Cech performance

first_img “We have a lot of players in attack who can cause problems for other teams. With the old players and new signings it is a stronger squad. The last season at Upton Park is an emotional one for everyone.” As well as Cech, another goalkeeper attracting plenty of attention is Manchester United’s David De Gea – as his future remains unclear with a move to Real Madrid still on the cards. The 24-year-old is from Madrid and was dropped from United’s opening day victory over Tottenham as manager Louis van Gaal said the Spaniard’s head was not in the right place. Adrian has played in the Primera Division for Real Betis and believes De Gea would be a perfect fit for Real Madrid as they look to replace Iker Casillas. “It is a strange situation for him,” Adrian said. “It is his decision – the transfer window is open until the end of August. He is one of the best goalkeepers in the world and I’m sure that if he goes to Real Madrid he could make the same performances or better. “I haven’t seen De Gea in training but it was Van Gaal’s decision, I think De Gea wants to finish his bad situation – whether that is with Real Madrid or still at Manchester United.” Despite plenty of criticism, Cech had the backing of Arsenal boss Arsene Wenger and Adrian was also keen to defend a man who he holds in very high regard. “That is the life of a goalkeeper,” the Spaniard said. “The goalkeeper can leave with a save or a mistake, sometimes you are the hero and sometimes you are the worse keeper. “But Petr Cech is one of the greatest keepers ever. You can have a mistake but the last seasons from him at Chelsea he has been outstanding. He is a great goalkeeper and I’m sure he will show his best in the next game.” The victory at Arsenal followed an unexpected early exit from the Europa League after manager Slaven Bilic took a much-depleted West Ham squad to face Astra Giurgiu in Romania last week. Despite that result, Bilic has made a positive early impression on everyone at the club, with Adrian enjoying working under the former Croatia and Besiktas coach. “It was a great start to the season,” he said. “We have a lot of confidence to keep working for the next game on Saturday. We were solid in defence and in attack we were so affective. It has changed a little, Slaven wants to play the ball more from the goalkeeper to the defence, keep possession. West Ham goalkeeper Adrian has defended the performance of Arsenal’s Petr Cech in Sunday’s Premier League meeting between the two sides. Press Association Cech, a new arrival at the Emirates Stadium following a summer move from rivals Chelsea, had been heralded as the man the Gunners needed to help mount a sustained title challenge this year. But the 33-year-old was guilty of conceding two soft goals as West Ham recorded a shock result of the opening weekend – with Cheikhou Kouyate and Mauro Zarate both beating Cech with efforts the Czech Republic international would have been disappointed to concede. last_img read more


first_imgLafferty robbed pensioners twice on bailA NOTORIOUS Donegal criminal with more than 40 previous convictions terrorised an elderly couple in their home TWICE whilst out on bail for attacking a Kilmacrennan pensioner, we can reveal.Matthew Lafferty, 21, from Letterkenny, was jailed for three years at the Circuit Court in the town on Tuesday. He admitted burglar at the home of Ms Anne McFadden on January 18th this year, in an incident in which the brave pensioner chased Lafferty wielding a hatchet.Now Donegal Daily can reveal that although he was refused bail in the local courts, Lafferty was later released by the High Court in Dublin.And in July this year whilst living in Mayo he attacked another elderly couple.Castlebar Circuit Criminal Court heard that a couple in their 70s are living in constant fear, even taking turns to stay up at night to ‘keep watch’, after their home and bed and breakfast was broken into twice in one week.In a victim-impact statement read out on behalf of Eddie and Maureen Lavelle of Burton Street House Bed and Breakfast, Killala Road, Ballina, the couple detailed their lives in the aftermath of the events of July last.Mr Eddie Lavelle, 75, said he and his wife were ‘shocked’, ‘traumatised’ and nervous to leave their home since the burglaries.Mr Lavelle said it was “terrible that young people would go out and target old people” and said the couple still find it difficult to sleep at night.Lafferty, then of 21 Nephin Court pleaded guilty to burgling the Lavelles’ home on the night of July 22, 2013, leading into July 23, and again on July 28.Lafferty and his accomplice gained access to an open upstairs window at the gable of the house and stole alcohol and €350. The couple were present in the house at the time.On July 28, when the Lavelles’ son Eddie and his family were visiting, the court heard that Mrs Lavelle came across the intruders in the dining room.The court heard that Lafferty’s accomplice, who is ‘still at large’ according to Detective Kevin O’Connor, pushed Mr Lavelle who hit a wall and fell to the ground. Mr Lavelle suffered lower back and arm injuries as a result.An iPhone 5 belonging to the Lavelles’ son was taken but was recovered the following day.Mrs Lavelle compared the couple’s home now to ‘Fort Knox’, as they equipped their home with security systems and lighting, but added that they are still unable to sleep at night.Defence barrister Eoin Garavan said Lafferty came from a dysfunctional family, had a ‘terrible childhood’ and that drugs made him ‘indulge in criminal acts’. Detective Kevin O’Connor said the accused was remorseful.Before sentencing, Judge Rory McCabe noted that although Lafferty was not the one that pushed Mr Lavelle, he was ‘part and parcel’ of the violence.Lafferty received a three-year prison sentence for the first charge and a five-year prison sentence for the second. Both sentences will run concurrently.On Tuesday he was jailed for another three years – to run concurrently – for the attack on Ms McFadden.REVEALED: SERIAL DONEGAL BURGLAR LAFFERTY TERRORISED PENSIONERS TWICE WHILE OUT ON BAIL was last modified: June 16th, 2017 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:bailburglarykilmacrennanletterkennyMatthew LaffertyMayolast_img read more

Humboldt Crabs top Humboldt Eagles 19-U in showcase of local ball players

first_imgA true showcase featuring some Humboldt County’s finest baseball players saw the Humboldt Eagles 19-U — a collection of the top high school and early-college players from the region — squared off against the storied Humboldt Crabs, eventually falling 5-0 to the home team Tuesday night at the Arcata Ball Park.And what a ball game it was.The Eagles, their oldest younger than any Crabs player, kept the home team scoreless through three innings before Dawson Bacho scored on a wild pitch in the …last_img read more

Giving Up Before Your Competitor Does

first_imgThere is this prospect in your territory. They’ve been with one of your competitors for years and for as long as you’ve known of them, they have never even entertained changing suppliers.Different BeliefsYou believe that because this prospect hasn’t considered changing, they never will. You’ve never tried to nurture relationships within this account. You don’t know anyone inside the company, and no one inside knows you.One of your competitors doesn’t believe  the fact that this prospect hasn’t changed suppliers in years is no indication of what they might do in the future. In fact, she thinks that they are overdue for a change. She believes that, given a long enough time line, everyone changes. This competitor has been nurturing relationships since she started in this territory, feeding ideas to the contacts within this company.Because you have to, you have been emailing one contact that you presume to be the decision maker inside this company every ninety days like clockwork, always requesting that they call you to discuss what you and your company might do for them. No one ever calls you back. You think you might need to change the language in your email.Persisting PersistenceYour competitor only sends emails as a follow up to her phone calls. If the contacts within this company are being honest, she’s been a bit of a nuisance, and she is seriously persistent, and a number of them have recently taken meetings with her. They came away impressed with her tenacity and her smarts.Now, your dream client has decided that they have given their existing supplier enough time to resolve their long-unresolved problems, and they’re going to move the business—if they can find the right partner.How do you feel about your position? The truth is, you wouldn’t know any of this is occurring. You gave up a long time ago, remember?How many prospects in your territory have no idea who you are, that you are responsible for acquiring their business, and that you can create massive value for them, should they entertain changing partners?How many of them could quickly and easily identify you as the person with the ideas and experience to help them move their business to a better result and a better future?Never give up. Never, ever, ever give up. Essential Reading! Get my 2nd book: The Lost Art of Closing “In The Lost Art of Closing, Anthony proves that the final commitment can actually be one of the easiest parts of the sales process—if you’ve set it up properly with other commitments that have to happen long before the close. The key is to lead customers through a series of necessary steps designed to prevent a purchase stall.” Buy Nowlast_img read more

How to Make the Most of Your Sales Kickoff Meeting

first_imgYou’ve been to these events before. You know you are going to have to sit through a session on where your company is going. You are also going to be forced to relive your collective performance last year. There is no way you are getting out of the room without applauding your peers who made President’s Clubs, and you know you will feel a slight tinge of something resembling envy when the rep who inherited all of their accounts name gets called, knowing he was given a gift that you were not.Time is your single, finite, non-renewable resource. When you believe this is true and understand the implications, you’ll everything in your power not to waste your time. In this case, you can do meaningful work while attending your kickoff meeting.Move Your Seat: You will notice that people tend to sit next to the people they know and with whom they are comfortable. You can make a better choice. You can sit with people you don’t know, and more specifically the people who are ahead of you on the stack rankings. Make relationships with people who can share insights about how they outperform their peers and make plans to develop that relationship post SKO.Listen with Intention to Learn: When your CEO shared the company’s business and roadmap, describes the competitive landscape, and speaks on how you intend to create greater value for your clients in the next year, you are getting access to the strategic conversation she would have were she talking to her peer. You can learn from this and develop a talk track to have higher level conversations with your clients. You will find points of differentiation you can use, but you have to pay attention and take careful notes.Track the Numbers: Listen, I have been in sales kickoff meetings where the CEO reviewed the final results, was followed by the CFO who provided a more granular look at the numbers, who was then followed by the Sales Leader who put all of those numbers under a microscope. One thing was certain, they really cared about these numbers. Your mission is to understand these numbers and figure out why they are what they are. If you notice that the reps that made president’s club also sold more of the new product, there may be a lesson that for you. Where there is a difference in numbers between one group and another, there is something you can take away to produce better results yourself.Drink the Kool Aid: There are cynics in every crowd. There will be one at your table or in your row. They will scoff at each of the speakers, internal or external. They’ll com-plain about the quota and the change to the comp plan, even though they never do enough work to benefit from their compensation and couldn’t hit their quota even if you gave them a head start. The “rah rah” stuff? Say “rah rah.” The new program? Buy it hook, line, and sinker. If you don’t believe that your company is good, that it sincere in its attempt to create value, and that it is better than the options, you will never convince others what you are not convinced of yourself.Open Your Mind to New Possibilities: Yes, you have been in sales for many years. But yes also, you have had the same year many years in a row. The trainers know you know how to sell. Be open to new choices and new ways of doing things. At conference, trainer told me his company had reps that send calendar invites to their prospects and 25% accept and attend the meeting. I would have never been so bold, but if it works, it is worth looking at, even if it makes your uncomfortable. Especially if it makes you uncomfortable.Write Your Plan: The problem with most people’s engagement in kickoff meetings is that they have every intention of taking action but go right back to doing what they’ve always done. Don’t leave any session without writing down the first thing you are go-ing to do upon returning to work. Ideas are cheap, execution is priceless. Go back refreshed, recharged, and ready to do good work. Essential Reading! Get my first book: The Only Sale Guide You’ll Ever Need “The USA Today bestseller by the star sales speaker and author of The Sales Blog that reveals how all salespeople can attain huge sales success through strategies backed by extensive research and experience.” Buy Nowlast_img read more

Cruz fills in for Devance in Ginebra win over Magnolia

first_img“I tell them that once they’ve sealed their defenders, expect the ball to come their way because I’ll pass it to them,” Cruz shared. “It’s just a bonus for me if I get open in the middle because the defense is worried on the two of them.”The Gin Kings may still be dealing with a couple of injuries, with Sol Mercado also out of the lineup, but Cruz said that they are motivated to show that they are no flash in the pan and they are capable of winning the title without import Justin Brownlee.“We’re pushing each other this all-Filipino because we want to be champions without an import,” he said.“Yes, we’re coming off a championship, but coach Tim (Cone) tells us that we can’t depend on Justin. We have to step up and we want to show that we can do it.”ADVERTISEMENT View comments LATEST STORIES Grey steps up for GlobalPort sans Romeo Cayetano: 4 social media groups behind SEA Games ‘sabotage’ Brace for potentially devastating typhoon approaching PH – NDRRMC Kammuri turning to super typhoon less likely but possible — Pagasa Read Next Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:50Trending Articles01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City 8th Top Leaders Forum assessed the progress of public-private efforts in building climate and disaster resilient communitiescenter_img Don’t miss out on the latest news and information. Do not bring these items in SEA Games venues Asian shares slide on weak Japan data; US markets closed Typhoon Kammuri accelerates, gains strength en route to PH Cruz stepped up and helped the Gin Kings come away with a 89-78 victory at the expense of the Magnolia Hotshots on Christmas Day at Philippine Arena.READ: Ginebra slips past Magnolia anew in Christmas ClasicoFEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSMalditas save PH from shutoutSPORTSLillard, Anthony lead Blazers over Thunder“I’m always ready,” the 31-year-old Cruz said of his solid 12-point, 8-rebound performance on Monday. “Once I’m given the chance to play, I’ll always give my all to help the team. That has always been my mentality.”Not only did Cruz thrive in his move to the small forward position, but he also had a hand in Greg Slaughter and Japeth Aguilar’s huge production as the two giants combined for 36 markers, 17 boards, and six blocks. Photo by Tristan Tamayo/INQUIRER.netBOCAUE — With Joe Devance out for the season, much of the limelight was casted on upstart forwards Kevin Ferrer and Aljon Mariano to cover the cracks.But on Monday, with Ginebra making its debut in the 2018 PBA Philippine Cup, it was the veteran Jervy Cruz, who filled in for Devance.ADVERTISEMENT BI on alert for illegally deployed OFWs to Iraq MOST READlast_img read more