Could the BT share price make you rich?

first_img Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Rupert Hargreaves | Sunday, 19th July, 2020 | More on: BT-A I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. The BT (LSE: BT.A) share price has plunged this year. Indeed, the stock is off nearly 50% since the beginning of 2020.Following this decline, the shares look cheap compared to their historical pricing. As such, some investors might be attracted to the business based on its valuation and potential to produce significant gains if the stock returns to previous levels. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…However, while the BT share price might look cheap at current levels, there’s no guarantee the stock will make investors rich. The company continues to face some significant headwinds, and it’s unlikely these problems will dissipate any time soon. BT share price problemsThe most significant headwind to the company’s growth in the long term may be its high debt levels. BT has some of the highest levels of borrowing of any FTSE 100 company. That’s excluding the organisation’s massive pension deficit which, at over £5bn, is bigger than some FTSE 100 businesses. These obligations have weighed on the BT share price for some time. The company is having to spend hundreds of millions of pounds every year on interest costs. It’s also having to deposit more money into pension schemes and close the funding gap. This means the funds cannot be invested back into the business to improve growth. One impact of this is declining profitability. Over the past six years, the group’s profits have decreased. In its last financial year, the company reported a net income of £1.7bn, down from £2.1bn in 2015. If this trend continues, the BT share price may struggle to return to historical levels. The company has also had to reduce its shareholder dividend. Management has hinted that the group will look to increase the payout in future, but there’s no guarantee of this. If net profit continues to decline, BT may be forced to spend this money on other projects. Undervalued Despite all of the above, the BT share price looks cheap at current levels, based on fundamentals. The stock is trading at a forward price-to-earnings (P/E) ratio of just 5.8. That’s compared to its historical average of around nine. These numbers indicate the shares offer a margin of safety at current levels. Therefore, they could produce attractive returns for investors in the years ahead. However, earnings are falling and pressure is building on the company to invest more in its operations. So there’s no guarantee BT’s valuation will ever return to normal levels. As such, it seems unlikely the stock will produce significant returns for investors. While the organisation looks undervalued, the BT share price continues to face some significant headwinds, which the company needs to deal with before it can return to growth.There’s no guarantee the business will ever be able to deal with these problems, and that could mean the stock continues to languish for the foreseeable future.  Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images. center_img Our 6 ‘Best Buys Now’ Shares Could the BT share price make you rich? Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. See all posts by Rupert Hargreaveslast_img read more

Super Rugby’s Crusaders considering name-change

first_img Pre-match show: Men dressed as Crusaders at a game (Getty Images) Super Rugby’s Crusaders considering name-change The Crusaders, Super Rugby‘s reigning champions, have said that they will consider changing their name in the aftermath of last week’s deadly terrorist attacks in Christchurch.In a statement on Sunday, the franchise said that their name held no religious meaning but that: “For us, the Crusaders name is a reflection of the crusading spirit of this community.”However, in light of the discussions that followed the attacks on mosques in which 50 people died, the club went on: “What we stand for is the opposite of what happened in Christchurch… our crusade is one for peace, unity, inclusiveness and community spirit.“This team and the wider organisation are united with our community in standing against such abhorrent acts… and in standing in support of our Muslim community.”Related: The debate over Exeter Chiefs’ brandingThe name Crusaders harks back to a campaign of religious wars between Christians and Muslims over the Holy Land in medieval times.On-field form: The Crusaders currently lead Super Rugby’s NZ conference (Getty Images)In recent days New Zealand‘s Minister for Sport and Recreation, Grant Robertson has offered his view. He said: “I’m aware of the conversations that they’re now having with, in particular, the Muslim community in Christchurch. I think that’s appropriate. The New Zealand outfit will undertake a “thorough process” in weighing-up any rebrand. They currently lead this season’s New Zealand conference.Follow Rugby World on Facebook, Twitter and Instagram. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS The Crusaders have since released the above Tweet, reaffirming their commitment to this discussion whilst insisting that the primary focus should be on bringing the community together.Related: Watch this incredible offload for the CrusadersThe Crusaders have won Super Rugby for the last two seasons in a row. “Clearly, this is a big issue in Canterbury. The Crusaders is a well-established name and brand, but I think it’s a responsible action to undertake those conversations now.”last_img read more

Mountainside Stellar Residences and Townhomes / Bohlin Cywinsk…

first_imgArchDaily General Contractor: Projects Save this picture!© Nic Lehoux+ 16 Share ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Mountainside Stellar Residences and Townhomes / Bohlin Cywinski JacksonSave this projectSaveMountainside Stellar Residences and Townhomes / Bohlin Cywinski Jackson 2016 ShareFacebookTwitterPinterestWhatsappMailOr Clipboard “COPY” Photographs “COPY” Year:  Architects: Bohlin Cywinski Jackson Area Area of this architecture project CopyHouses•Truckee, United States Manufacturers: Artek, Sierra Pacific Windows, western red cedar Photographs:  Nic Lehoux Manufacturers Brands with products used in this architecture project Houses United States SMC Construction Mountainside Stellar Residences and Townhomes / Bohlin Cywinski Jackson Area:  5600 ft² Year Completion year of this architecture project Team Members:Xander Ellenbogen, Katie Bouret, Rachel Estes, Meghan McAllister, Shawn Wood, Tina Lindinger, James KirkpatrickProject Consultants:Holmes Culley, Structural Point Energy Innovations, Mechanical/Plumbing Engineering Enterprise, Electrical Sierra Land Solutions, Civil Welsh Hagen, Civil Bender Engineering and CommissioningOwner:East West Partners/Mountainside PartnersConstruction Cost:Residences: $2M/unit ($12M overall) Townhomes: $1.2M/unit ($13M overall)Design Principal:Greg MottolaProject Manager:Denis SchofieldDesigner:Reuben AltCity:TruckeeCountry:United StatesMore SpecsLess SpecsSave this picture!© Nic LehouxRecommended ProductsDoorsECLISSESliding Pocket Door – ECLISSE LuceEnclosures / Double Skin FacadesAlucoilStructural Honeycomb Panels – LarcoreEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsDoorsJansenDoors – Folding and SlidingText description provided by the architects. Working with a progressive developer in the Lake Tahoe area, this collection of townhouses and single-family residences is a modern reinterpretation of the ski chalet. Conceived to be smartly efficient and compact in plan, these ski-in/ski-out homes are designed around social spaces that take advantage of breathtaking views to the ski slopes and Carson Range beyond.Save this picture!© Nic LehouxIn considering the ideals of work-life balance and the needs of a modern, tech-savvy homebuyer, the client asked us to design a set of dwellings to challenge the concepts of the traditional mountain chalet. Though materials often found in conventional retreats—warm wood, glass, and natural stone—are used throughout these new mountainside homes, many elements have been modernized to provide a contemporary residence with a strong connection to nature, while also paying homage to the Lake Tahoe vernacular.Save this picture!© Nic LehouxSave this picture!Site PlanSave this picture!© Nic LehouxLocated in a dense forest of Jeffery pine and Douglas fir, two distinct dwelling types—residences and townhouses—embrace the edge of a shared ski slope. Celebrating outdoor-living with direct access to skiing, hiking, and biking, the six single-family units and 11 townhouses visually and materially engage their surroundings, emphasizing healthy living and environmental stewardship, as demonstrated in the project’s LEED for Homes certification design standards.Save this picture!© Nic LehouxUpon entering the residences from their upper level, occupants are drawn into an elevated world, with remarkable views of Martis Valley and Carson Range beyond. Large expanses of glass offer a visual and physical connection to the outdoors, bathing communal areas in soft northern light throughout the day and framing sunlit views of the Sierra Nevadas in the evening. The master bedroom, immersed in sunlight via three exterior walls of glass, floats over the ski slope, causing one to feel as if perched in the trees.Save this picture!Floor PlansSave this picture!Floor PlansThe townhouses are compact and efficient, stepping down the mountainside while following the curve of the ski slope. The simple, shed-roofed volumes are vertically and horizontally offset, allowing for privacy and a feeling of distance between neighboring units. Utilities and storage are organized along shared walls, while bunks are slipped into interstitial spaces to accommodate seasonal overflow. A double-height light well carved through the buildings draws sunlight into the depth of the dwellings, creating an additional connection to the outdoors.Save this picture!© Nic LehouxThese mountainside residences and townhouses offer reprieve from the working world with a specific emphasis on responsible, ethical development, and the promotion of ecological, sustainable design.Save this picture!© Nic LehouxProject gallerySee allShow lessNionohama Apartment House Renovation / ALTS Design OfficeSelected ProjectsCall For Entries: 2017 AZ AwardsBuilt Projects & Masterplans Share CopyAbout this officeBohlin Cywinski JacksonOfficeFollowProductWood#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesTruckeeUnited StatesPublished on February 16, 2017Cite: “Mountainside Stellar Residences and Townhomes / Bohlin Cywinski Jackson” 16 Feb 2017. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodGRP Siding Façade SystemPlasticsMitrexSolar SidingMetal PanelsAurubisCopper Alloy: Nordic RoyalSystems / Prefabricated PanelsKalwall®Translucent WalkwaysPanels / Prefabricated AssembliesIsland Exterior FabricatorsSpecialty Facade SystemsLightsLouis PoulsenLamps – LP Slim BoxWoodBruagAcoustic Panels with LEDTiles / Mosaic / GresiteHisbalitMosaic Tiles – Palm SpringsMineral / Organic PaintsKEIMBlack Concrete – Concretal®-BlackSuspension SystemsMetawellAluminum Panels for Smart CeilingsDoorsGorter HatchesFloor Door – Fire RatedBricksDEPPEWaterstruck Bricks – 1622/1635ekws DFMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

ALY House / MORE Architecture

first_img “COPY” Save this picture!© Edouard Decam+ 20Curated by Paula Pintos Share Manufacturers: Villeroy & Boch, Groupe Gregoire Menuiseries, LUCERABudget:224 K€City:BordeauxCountry:FranceMore SpecsLess SpecsSave this picture!© Edouard DecamRecommended ProductsMetallicsKriskadecorMetal Fabric – Outdoor CladdingWindowsFAKRORoof Windows – FPP-V preSelect MAXWindowspanoramah!®ah!38 – FlexibilityEnclosures / Double Skin FacadesAlucoilStructural Honeycomb Panels – LarcoreText description provided by the architects. Inside a residential neighborhood of Bordeaux, the house stands out from the other constructions by its concrete facades. Apart from the facades, concrete is also used inside the house, on the floors and the ceilings.Save this picture!© Edouard DecamSave this picture!Ground Floor PlanSave this picture!© Edouard DecamThe plan stretches on a thin parcel, generating interconnecting spaces and multiples views 360° around while preserving the family’s privacy. The ground floor was conceived as a linear open space, extended by a patio including a smart swimming pool out of sight from the neighborhood.Save this picture!© Edouard DecamDuring the sunny days, the patio is a real extra room that enlarges the living room. The kitchen space is delimited by the lowering of the ceiling, corresponding to the location of the bedrooms located upstairs. The children ones are spread around a playing room.Save this picture!© Edouard DecamSave this picture!Facade and SectionSave this picture!© Edouard DecamProject gallerySee allShow lessSoy de Azteca: A Photographic Essay of Aesthetics in Mexico’s PeripheryArchitecture NewsOffice Rooftop / Studio ComboSelected Projects Share ArchDaily ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Houses France “COPY” ALY House / MORE Architecture 2018 Area:  125 m² Year Completion year of this architecture project center_img Architects: MORE Architecture Area Area of this architecture project Projects CopyHouses•Bordeaux, France Photographs:  Edouard Decam Manufacturers Brands with products used in this architecture project Photographs ALY House / MORE ArchitectureSave this projectSaveALY House / MORE Architecture ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Year:  CopyAbout this officeMORE ArchitectureOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesBordeauxFrancePublished on May 02, 2019Cite: “ALY House / MORE Architecture” 02 May 2019. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemRailing / BalustradesMitrexIntegrated Photovoltaic Railing – BIPV RailingMetal PanelsAurubisCopper Alloy: Nordic BrassHanging LampsVibiaHanging Lamp – VOLConcreteKrytonCrystalline Waterproofing – KIMSkylightsLAMILUXGlass Skylight FE PassivhausPorcelain StonewareCosentinoSurfaces – Dekton® Chromica CollectionBricksFeldhaus KlinkerThin Bricks – ClassicGlassDip-TechDigital Ceramic Printing for Interior DesignWoodStructureCraftEngineering – FootbridgesAluminium CompositesCymat Technologies Ltd.Bundang Doosan Tower – Alusion™ Stabilized Aluminum FoamTable LampsRoss GardamDesk Lamp – OraMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

Solzhenitsyn and Jordan Peterson: Fascism, white supremacy and patriarchy

first_imgLast month, Penguin published a new edition of “Gulag Archipelago” by Aleksandr Solzhenitsyn. A quote on the back cover says that the book “helped make the world we live in today.” And what a hellish world that is. Fascist movements are on the rise globally as the gap between rich and poor grows wider and wider. But this may be just the home for someone like Solzhenitsyn, who from 1978 until his death in 2008 called for a patriarchal ethno-state in what was once the USSR and is presently Russia. Even Henry Kissinger admitted Solzhenitsyn was “to the right of the Czar.” In 2017, Steve Bannon’s Breitbart News recommended the book to its readers in a list of “seven conservative classics every American should read.” A year later, we have a new edition of this “conservative classic” with a forward by Jordan Peterson. The far right has seized on Solzhenitsyn in this period. But why?Solzhenitsyn’s audience todayAs explained in Part 1 of this series, Peterson and Solzhenitsyn hold similar views, but there’s more to the story than ideological affinity. To understand the impact a new edition of “Gulag Archipelago” could have today, it’s necessary to know who listens to Jordan Peterson and, by extension, who will listen to Solzhenitsyn. Despite the scorn heaped on him by the mainstream press, Peterson has developed a huge audience using the same communication channels that other far-right forces have organized through in the last decade.To briefly give a sense of the numbers: Peterson’s last two appearances on the Joe Rogan Experience, a popular right-wing podcast, have each garnered over 4 million views; his Twitter account has nearly a million followers; and his YouTube channel, where he uploads his bigoted lectures, has 1.6 million subscribers. It’s these numbers that propelled Peterson’s recent book, “12 Rules for Life: An Antidote for Chaos,” to the top of Amazon’s best sellers list when it was first published in January 2018. Almost a year later, it remains number three on the list.So who are these millions? As Peterson himself admitted, 91 percent are men. Other commentators have pointed out that a majority are young and white. This should come as no surprise, given that the author built his career advocating for enforced monogamy and attacking the concept that white privilege exists.But it’s also clear that Peterson is deliberately targeting these young white men. “12 Rules for Life” very consciously presents itself as a self-help book for this group. To what end?Jordan Peterson, fascist recruiterDespite efforts by the liberal media to blame Trump’s election on the alleged backwardness of the white working class, the truth is that Trump was elected by the white middle class, who constituted his largest voting bloc. Historically, it has always been the case that fascism grows out of the middle class in periods of crisis.This, however, does not mean that the middle class can only be fascist. As Leon Trotsky assessed in the 1930s, the middle class is contradictory, one that aspires to be in the ranks of the bourgeoisie but is always at risk of being pushed into the ranks of the proletariat by the forces of capitalism.Depending on a number of factors, its political views during a crisis can waver — sometimes toward fascism and sometimes toward socialism. For this reason, the right-wing can’t take for granted that the middle class will remain on its side. And in this period, they have reason to worry.A recent survey showed that the majority of young people today prefer socialism to capitalism. For good reason. Studies have shown that downward mobility is nearly universal for young people. They make less money than their parents, work multiple jobs and have more debt. Capitalism isn’t working for them. This is particularly true for Black and Brown young people, but in this period it has also become increasingly true for young white people, for whom whiteness is less and less the guarantor of safety and comfort that it once seemed to be in the U.S.Jordan Peterson’s objective, then, is to pull elements of this oscillating middle class rightward. Young people are targeted because they face a dead end and are desperate for a way out of the crisis. Of this group, white men are a prime target because the ruling class has age-old tools for luring them into acting against their own interests.Those tools are patriarchy and white supremacy.Below a veneer of individual rights and liberty (most likely sponsored by the Koch brothers), Peterson is, in essence, trying to sell young, white middle-class men the narrative that they are miserable because their rightful place in the social order has been taken by people who are “biologically inferior” to them, who happen to be Black and Brown, and women who should be in the home, not the workplace. Since it was first conjured up, white supremacy has always functioned as a tool to divide the working class by convincing white workers that they have more in common with their white bosses than they do with their fellow Black and Brown workers. Patriarchy, while serving many functions under capitalism, has also played a role in dividing the working class by enabling misogynistic behavior.While neither patriarchy nor white supremacy actually addresses the economic impoverishment with which capitalism threatens the ranks of the middle class, the strength of this hatred in poisoning the mind should not be underestimated in a society organized on the basis of white supremacy and patriarchy.The only way to disprove this ideological poison, and to pull the middle class away from these illusions, is a strong socialist movement of the working class and oppressed.The far right knows this, especially today when fascist forces are being smashed in the streets by communists, socialists and anarchists. And so they turn to Solzhenitsyn to bolster their claims. They roll out “Gulag Archipelago” — a book written by a man who refused to say one good word about socialism, who painted a picture of unrelenting horror and cruelty in the Soviet Union, and who apologized for Nazi collaborators — in order to eliminate socialism as a possibility within the minds of young people and create the illusion that the only solution to the crisis is the path laid out by Peterson. But Peterson and the far right are bound to fail. The only “antidote to chaos” is socialism.The first two parts of this series can be found here: Part 1 & Part 2FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Reporters Without Borders will monitor implementation of new print media law closely

first_img A new press law that takes effect on July 28th aims to limit the influence of the three main conservative dailies and requires all newspapers to act with “social responsibility.” Reporters Without Borders has received undertakings from the government that press freedom will be respected. Nonetheless, the organisation will monitor its implementation closely. News South KoreaAsia – Pacific RSF calls for the release of South Korean journalist jailed for defamation Receive email alerts to go further Reporters Without Borders today reiterated its opposition to some of the provisions of a new press law, the Act Governing the Guarantee of Freedom and Functions of Newspapers, which is due to take effect tomorrow and which will restrict free enterprise in the print media.”We have received undertakings from the South Korean government that this law will not be used to silence critical news media, but we will nonetheless be extremely vigilant about the way it is implemented,” the press freedom organisation said. Parliament approved the law on 1 January.In a decree applying it, the government has added a new provision urging newspapers to set up internal “editing committees” consisting of management and staff representatives. Although newspapers are not obliged to comply, the possibility of getting government aid could be conditioned on the existence of such committees.Proposed by the ruling Uri party last October, the law is billed as a progressive reform of South Korea’s print media but contains articles that could jeopardise free enterprise within the sector. The concept of news media “social responsibility” in articles 4 and 5 is also very vague and could be used by the authorities against independent media.Reporters Without Borders is aware that a monopoly or oligopoly is not desirable for diversity of news and information, but South Koreans have a wide range of news sources in addition to the traditional daily newspapers and the organisation thinks it would have been better to help small publications rather than take on the big dailies.The new law stipulates that no newspaper may control more than 30 per cent of the market and that the three leading dailies may not control more than 60 per cent. It also limits to 50 per cent the space each paper may give to advertising, on the threat of a fine of 20 million wons (more than 14,000 euros).The three conservative dailies, Chosun Ilbo, Dong-a Ilbo and JoongAng Ilbo, currently have 70 per cent of the daily newspaper market. Chosun Ilbo alone has more than 30 per cent of the market.The law also obliges each press group to set up another internal committee to protect readers’ rights. These committees would allow readers to challenge a publication if they think its coverage is not “objective.”The ruling party additionally sought to establish a single distribution system for the dailies in an effort to stop the fierce competition between them for subscribers. Finally, article 12 (1) of the new law requires online newspapers to register with the authorities. Organisation July 27, 2005 – Updated on January 20, 2016 Reporters Without Borders will monitor implementation of new print media law closely South KoreaAsia – Pacific Follow the news on South Korea August 18, 2020 Find out more On eve of the G20 Riyadh summit, RSF calls for public support to secure the release of jailed journalists in Saudi Arabia News Help by sharing this information News News November 11, 2020 Find out more November 19, 2020 Find out more Forum on Information and Democracy 250 recommendations on how to stop “infodemics” RSF_en last_img read more

DUP and Sinn Fein to blame for radiotherapy postponement – McGimpsey

first_img WhatsApp DUP and Sinn Fein to blame for radiotherapy postponement – McGimpsey Almost 10,000 appointments cancelled in Saolta Hospital Group this week Calls for maternity restrictions to be lifted at LUH Google+ Pinterest Facebook Twitter Three factors driving Donegal housing market – Robinson WhatsApp Twitter Newscenter_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Comments made by Sinn Fein’s Martin McGuinness were tantamount to incitement to hatred, UUP health minister Michael McGimpsey has said.Speaking to the BBC, Mr McGimpsey said Mr McGuinness was wrong to say his decision to postpone plans to build a radiotherapy unit at Altnagelvin Hospital was “sectarian”.Michael McGimpsey said the DUP and Sinn Fein were responsible for health budget cuts.He claimed that the DUP finance minister, Sammy Wilson, had failed to respond to a business case for Altnagelvin Hospital which he had given him last October.Mr Wilson also refused to commit to visiting Derry City Council to discuss the planned cancer unit.Last month, Mr McGimpsey made the decision to postpone construction, saying his budget for capital spending was £500m short. Facebook RELATED ARTICLESMORE FROM AUTHOR Google+ Previous articlePSO subsidy for the Derry to Dublin air-link will not be returnedNext articleMan cleared of sexually assaulting 6 year old in Derry News Highland By News Highland – April 7, 2011 Guidelines for reopening of hospitality sector published Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

PM-Cares Vs PMNRF: Where Is My Money Going?

first_imgColumnsPM-Cares Vs PMNRF: Where Is My Money Going? Aldanish Rein, Advocate2 Jun 2020 2:05 AMShare This – xThe Present Article is an attempt to look into the affairs of the Prime Ministers National Relief Fund (PMNRF) and the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund) PMNRF: The PMNRF was established pursuant to an appeal made by way of a press note dated 24/01/1948 by the then Prime Minister Jawahar Lal Nehru. He felt the need to have such…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 Present Article is an attempt to look into the affairs of the Prime Ministers National Relief Fund (PMNRF) and the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund) PMNRF: The PMNRF was established pursuant to an appeal made by way of a press note dated 24/01/1948 by the then Prime Minister Jawahar Lal Nehru. He felt the need to have such a fund to make ends meet in the hard times owing to rioting and exodus from Pakistan on occasion of partition of India. When the Fund was constituent, the following people were included in the managing committee of the PMNRF. i) The Prime Minister. ii) The President of the India National Congress party. iii) The Deputy Prime Minister. iv) The Finance Minister. v) A representative of Tata Trustees. vi) A representative of Industry & Commerce to be chosen by FICCI.Also Read: PM CARES Fund Not A ‘Public Authority’ Under RTI Act, Says Prime Minister’s Office That in 1973, an application was filed before the Income Tax authority under Section 12A of the Income Tax Act, 1961 to register the fund as a “Trust” for the purposes of Income Tax exemption. The said application of the Fund was allowed by the Commissioner of Income Tax on 18.09.1973 and the fund was registered as a “Trust” bearing No. DLI(C)(T-25)/73-74. Subsequently, the fund was also allocated a separate Permanent Account Number (PAN). Though, no specific Trust Deed was executed for the said purpose, the fund was, however, deemed to be a “Trust”. Finally, in 1985, the Managing Committee of PMNRF entrusted the entire management of the said fund to the Prime Minister who was given the discretion to appoint a secretary of the fund to manage it. Today the fund is recognized as a Trust under the Income Tax Act and the same is managed by Prime Minister or multiple delegates for national causes. PMNRF operates from the Prime Minister’s Office, South Block, New Delhi-110011 and does not pays any license fee. PMNRF is exempt under Income Tax Act, 1961 under Section 10 and 139 for return purposes. Contributions towards PMNRF are notified for 100% deduction from taxable income under section 80(G) of the Income Tax Act, 1961. Prime Minister is the Chairman of PMNRF and is assisted by Officers/ Staff on honorary basis. Permanent Account Number of PMNRF is AACTP4637Q. Donations to PMNRF will also qualify to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013 . PMNRF accepts donations and contributions from individuals and organizations based in foreign countries also. PM CARES : “Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation , like posed by the COVID-19 Pandemic, and to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund)’ has been set up.” (wondering why was this added:( “, like”) (comma means breaking of sentence and ‘like’ suggests – not limited to). But assuming the fund is limited to COVID – 19 Pandemic only as claimed, it enjoys all the above benefits of PMNRF. Prime Minister is the ex-officio Chairman of the PM CARES Fund just like in PMNRF. The only addition seems that Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the PM Cares FUND. But these additions / amendments could have been easily made in the PMNRF by way of a supplementary Trust Deed. Similarities between the two trusts: The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support.The Trust does not owe its existence to the Government but is a creation of the then Prime Minister of India in an ex-officio capacity.In Army Welfare Housing Organization v. Adjutant General’s Branch & Ors., (2015) 216 DLT 184 , the hon’ble Court has clarified that merely because certain government functionaries hold a position in his/her ex-officio capacity, ipso facto does not mean that Government is exercising control through the ex officio members.Trust is neither constituted by the Parliament nor by the Government and it is not managed by Government functionaries in their official capacity.Rule 47 of the Rules of Procedure and Conduct of Business in Rajya Sabha reads as under: – “47. Conditions of admissibility of questions (1) Subject to the provisions of sub-rule (2) of this rule, a question may be asked for the purpose of obtaining information on a matter of public importance within the special cognizance of the Minister to whom it is addressed. (2) The right to ask a question is governed by the following conditions: “(xx) it shall not relate to a matter with which a Minister is not officially connected;” (So no questions can be asked in the Rajya Sabha about the funds of the trust.)Rule 41 of the Rules of Procedure and Conduct of Business in Lok Sabha is as under: – “41. Admissibility of questions: (1) Subject to the provisions of sub-rule (2), a question may be asked for the purpose of obtaining information on a matter of public importance within the special cognizance of the Minister to whom it is addressed. (2) The right to ask a question is governed by the following conditions, namely:— “(viii) it shall not relate to a matter which is not primarily the concern of the Government of India; … (xix) it shall not relate to a matter with which a Minister is not officially concerned;” (So no questions can be asked in the Lok Sabha about the funds of the trust.)The cause for which Trust was created and exists is purely charitable and neither the funds of this Trust are used for any Government projects nor is this Trust governed by any of the Government policies.The trust is neither owned, controlled or financed by the Government.The trust is not obliged to provide any information to any one as it is not a “Public Authority” under the ambit of Section 2(h) of the RTI Act.It is not a part of any Government Scheme or business of the Central Government and therefore not subject to audit of Comptroller and Auditor General of India (CAG).The Trust has no expenditure in the management as it is managed on an honorary basis by all involved.Both the trust are private trust, and the funds are private funds. So Now it brings us to the essential question Difference between the two trusts? 1.Mere reading the objectives of both the trusts on its website, PM Cares misses on one line i.e. “Contributions flowing out from the balance sheets of the public sector undertakings are not accepted.” So, while the PMNRF does not accept contributions from the PSUs, the PM Cares accepts it. 2.While the PM Cares has denied RTI Application , the issue related to PMNRF is pending in the Delhi High Court in LPA No. 231 of 2016 and the issue: “Whether the Prime Minister’s National Relief Fund is a “public authority” within the meaning of Section 2(h)(d) of the Right to Information Act, 2005 and accordingly, whether information pertaining to various transactions made by the Fund can be obtained by preferring an application under the said Act?” is pending consideration before the Delhi High Court after the matter has been referred to the third judge vide order dated 23/05/2018 upon divergence of opinion between the two Hon’ble Judges. Conclusion: While both the trusts are similar in nature, allowing PSUs to donate in PM Cares is like pumping money into a private trust by the government on request of the Prime Minister in its ex-officio capacity. The MPLADS funds, Railways, Banks etc are just examples of how Government Money is directed to a private trust. The government money, so received, would not be audited by the CAG and the trust would get INCOME TAX EXEMPTION on such donations. The trust is not under the ambit of the RTI Act, so one wouldn’t know how these funds are being channelized. The trust could announce any amount to have been received and allocated or spent without being checked. In the last six years, the government’s eagerness to auction most of the PSUs such as BSNL, BPCL, etc., to private entities raises concerns towards such donations being voluntary or forced decisions. It is also difficult to understand, why would the government come up with PMCARES, specially when PMNRF is available. There seems no reason why the NDRF (National Disaster Response Fund) is ignored specially when it is managed by Central Government/ RTI is applicable/ CAG Audit is applicable. The time will show if the donations are made from profit or out of cost cutting. The process lacks transparency and needs to be looked into.Views Are Personal Only. (The author of the article is a Practicing Advocate – On – Record in the Supreme Court of India and a former Member Executive Of the Supreme Court Advocates- On – Record Association) Next Storylast_img read more

Donegal councillor proposes Gaeltacht Civil Rights movement

first_img Google+ Donegal councillor proposes Gaeltacht Civil Rights movement By News Highland – July 17, 2020 Twitter Important message for people attending LUH’s INR clinic Pinterest Google+ WhatsApp Previous articleGartan Technology expanding workforce as Covid 19 creates demandNext articleJuly stimulus package is ‘last chance’ for Irish SMEs News Highland Facebook News, Sport and Obituaries on Monday May 24th Twittercenter_img A Donegal Councillor says a Gaeltacht Civil Rights movement may be established to ensure that people in those communities are treated with respect and given their rights.Cllr Michael Cholm Mac Giolla Easbuig was speaking after receiving the answers to Dail questions about the promised new ferry service to Tory Island. He says it’s clear that nothing has been done, and the islanders are effectively no further on in their quest for a purpose built boat than they were three years ago.Calling for a workshop at County Council level to discuss the ferry service, and also the need for a new sea wall at Magheraroarty, Cllr Mac Giolla Easbuig said the decision to give responsibility for Gaeltacht and the islands to different ministers was the last straw………..Audio Player Up/Down Arrow keys to increase or decrease volume. WhatsApp RELATED ARTICLESMORE FROM AUTHOR Derry draw with Pats: Higgins & Thomson Reaction FT Report: Derry City 2 St Pats 2 Facebook AudioHomepage BannerNews DL Debate – 24/05/21 Arranmore progress and potential flagged as population grows Pinterestlast_img read more

Alleged thief leads cops on epically slow car chase

first_imgiStock/Thinkstock(LOS ANGELES) —  An alleged car thief suspected of driving under the influence led police on an odd, slow-speed car chase through the surface streets of Los Angeles and the San Fernando Valley, according to ABC Los Angeles station KABC-TV.The chase began Thursday around 10:15 p.m. in Reseda and ended over an hour later in Los Angeles, KABC reported.It took four spike strips and nine different pit maneuvers for police to corral the man, according to the station.Video shows officers’ attempting to stop the slow-driving suspect as other motorists exited their cars and attempting to stop him.The driver has not been identified.Copyright © 2018, ABC Radio. All rights reserved.last_img