ATP to oppose pay rises for top management at Danish companies
Denmark’s DKK759bn (€102bn) statutory pension fund ATP is using its clout as a shareholder to keep a lid on rising pay for top executives at Danish companies, saying the right level of remuneration for corporate leaders increases shareholder value.Claus Berner Møller, vice president for Danish equity at the Hillerød-based pension fund, said: “In general, we are experiencing upward pressure because the level of pay is so much higher in, for example, the US and Switzerland.“We are trying to fight against this pressure because we think that generally, the level in Denmark is appropriate.“We are spending quite a bit of time discussing remuneration, because we believe that the right salary package for executive directors and supervisory boards increases shareholder value.” The supplementary labour-market pension fund was also concerned about overly generous recruitment or severance deals for managers, Berner Møller said.“Fundamentally, we don’t think that a severance package should equate to more than two years’ salary. Similarly, we are sceptical about excessively generous stay-on and sign-on bonuses, and this type of thing,” he said.Berner Møller made the comments in an interview with Danish broadsheet Morgenavisen Jyllands-Posten, which were confirmed by a spokesman for the pension fund.Pension funds in the UK have also been vocal on the matter of executive pay in recent months, with industry association the PLSA saying in January that “provocative levels” of executive pay were damaging the reputation of British business.
The UK’s Pensions Regulator (TPR) has urged DB pension fund trustees to take a long-term view of investment risks, governance, and strategy in fresh guidance published this week.The lengthy online document detailed the regulator’s expectations of trustees in charge of defined benefit (DB) pensions, and came as part of a wider push to improve scheme governance.Fred Berry, TPR’s head of investment consultancy, said: “The investment strategy is one of the most important drivers of a scheme’s ability to meet the objective of paying the promised benefits as they fall due, and we expect trustees to set this in the context of their integrated risk management approach.“It’s important to set clear investment objectives for your scheme and to identify how and when they should be achieved. Our guidance states that trustees should focus on areas that have the most impact for meeting their scheme’s objectives, and identify the necessary skills for the board of trustees of their scheme. It also provides some practical guidance on how to get the best from their advisers.” The guidance encouraged trustees to focus on “highest level strategic decisions” and delegating other tasks to third parties, including consultants and fiduciary managers.It also emphasised the importance of establishing policies for stewardship of assets – particularly when this responsibility is delegated to a third-party asset manager – and for long-term risks such as climate change.“Most investments in pension schemes are exposed to long-term financial risks, which may include risks around long-term sustainability,” the regulator stated. “These can relate to factors such as climate change, responsible business practices and corporate governance. We expect you to assess the financial materiality of these factors and to allow for them accordingly in the development and implementation of your investment strategy.”Stuart O’Brien, partner at Sackers, said: “TPR is right to draw out specific elements such as ESG, as trustees need to take an active decision as to whether these factors are financially material for their scheme – something which is not always straightforward in practice.”The regulator also emphasised the importance of cash flow matching and modelling.Calum Cooper, head of trustee consulting at Hymans Robertson, welcomed this, but warned that most cash flow modelling systems “typically don’t allow for the primary reason schemes hold assets: i.e. for income to pay the pensions promised”.He claimed this could put members’ benefits in danger, as trustees would not have a full grasp of the risks of not meeting obligations.Cooper added: “Model misbehaviour matters. Cash flows matter. The models used by schemes should reflect both asset and liability cash flows to improve the chances of paying members’ pensions in full.”TPR’s guidance is available here.
Stepping up after the injuries to AnnMarie Brown and Taylor Wurtz, Jacki Gulczynski has became a scoring and rebounding machine in her sophomore season.[/media-credit]It’s often said life can work in mysterious ways, and everything – whether good or bad – happens for a reason. Even the most disappointing, heartbreaking moments can have a lining of silver behind them that is not at first visible.When the Wisconsin women’s basketball team (11-13, 3-8 Big Ten) lost both Taylor Wurtz and AnnMarie Brown to season-ending injuries earlier in the season, any possible silver lining appeared to be hidden behind the cloud of darkness as a result of the injuries. But the brief stint of darkness was shattered when sophomore forward Jacki Gulczynski burst onto the scene for the Badgers.Two games after Wurtz sat out for the first time, Gulczynski scored in double-figures for the first time in her two-year career, notching 14 against Marquette. Since that game, Gulczynski has gone on a rampage, scoring double-digits in 17 straight games including the victory over Marquette. She is also the second-leading scorer on the Badgers averaging 12.4 points per game, a mark good for 14th in the Big Ten.When asked whether she thought she would be in this scoring role at the beginning of the season, Gulczynski was quite humble and team-oriented in her reply.“Anything can happen,” Gulczynski said. “If I were to say at the beginning of the year that [being the second leader scorer] was my main goal, it wasn’t. I just seemed to come into this role and kind of do whatever my team really needed from me.”Gulczynski has not only stepped up this season with a short roster, but she has surprised many, especially with performances like she recorded last Thursday at Ohio State. Despite a 65-59 double-overtime loss to the Buckeyes, Gulczynski tallied a career-high in both points and rebounds with 32 and 15 respectively, her sixth double-double of the season.Even head coach Bobbie Kelsey was somewhat taken aback by such a dominating performance, but now says she expects more from Gulcznski with only nine active players.“I knew she was capable, but you never know until kids are in those situations whether they’re going to step up or not. It’s nice to see her step up because now we can hold her to that standard. We depend on her to do it because she has to,” Kelsey said.A year ago, Kelsey would have had trouble believing in and depending on Gulczynski, but what a difference a year makes. Gulczynski is the most improved scorer in the Big Ten this season, averaging 9.9 points better per game than she did last season. The 6-foot-1 forward is also third in the conference in three-point field goal percentage – it’s not just Wisconsin men’s basketball that has long-range post players. And with the level of consistency Gulczynski is showing, Kelsey has reason to depend on her young forward.But what has made the difference in Gulczynski’s breakout season? Well, according to assistant coach Alysiah Bond, whom Gulczynski works closely with, it’s confidence and the right attitude.“She’s more experienced, and she basically made her mind up that, ‘This is my opportunity.’ Her confidence has grown from game to game,” Bond said. “She got off to a bit of a slow start production wise, but I think she just needed to be reminded of what she is capable of. Not just talking about it, but she’s going out and showing it and done so with consistency.”That right attitude includes Gulczynski’s work ethic, which has allowed her to refine her shooting motion through many extra hours in the gym. Whether by herself, or with Bond rebounding for her, Gulczynski has proven to herself, coaches and teammates she is willing to do the work to become a better player and shooter. Nowhere has that been more evident than in the points column of the 17 most recent box scores for Gulczynski.Bond had a recent talk with Gulczynski about her expectations for this season and the upcoming ones, but said she had no worries about Gulczynski’s potential because of her drive to be better.“I never try to put a ceiling on what someone is capable of. If they put it all together, you can see glimpses. What never leaves her is her ability to knock down shots. She’s a post player, yet her stroke is sweet. Her stroke is mean. If you come in the gym and watch her she can consistently knock down shots, and she can do so outside the three, obviously,” Bond said.“When you just look at the numbers from left to right on the season, you see consistency. You see high numbers. Anytime someone can be near 50 percent from the field, 40 percent from three and 90 percent from the line you know you’re really onto something. So she has that ability. You can see with all the different ways she can score that it opens up the doors for that to happen.”So whether Wisconsin finishes first or last this season, when the final whistle blows, the Badgers will have solace in knowing their future is bright. Bright from the spark Gulczynski has lit under the Badgers this season, lining their once gloomy skies with silver. Perhaps gold is not too far in the future.
A Florida teenager is hurt after a bizarre incident during an Uber ride.The 15-year-old Broward County girl was accidentally shot in the ankle by her Uber driver last weekend as he was trying to holster his gun.The driver, Adrian Harper is charged with culpable negligence. A member of our well regulated militia (and @Uber driver) moves his loaded gun with passengers in his car. He fires the gun and shoots a 15 year old girl through her ankle and heel. https://t.co/nm9k549Nt5— WellRegulatedMilitia (@Well_Regulated_) October 22, 2019 Also, Uber has cut ties with Harper because the company doesn’t allow drivers to carry guns or give rides to unaccompanied minors.
President Trump is expected to return home to South Florida Tuesday to host a Keep America Great rally in celebration of his officially becoming a Florida resident.The president opted to give up his New York residency and officially become a Florida resident earlier this month.Chief Operating Officer of Donald J. Trump for President Inc, Michael Glassner recently said of the change:“President Trump recently became an official resident of the great state of Florida and looks forward to a ‘Welcome Home!’ rally with his fellow Floridians.” “Florida is thriving under President Trump and this homecoming rally will be one of our best yet,” Glassner continued.The will be held at the BB&T Center in Sunrise where doors are set to open at 3 p.m. and the rally will be held at 7 p.m.Officials with the Florida Highway Patrol are warning drivers who are not attending the event to avoid the BB&T Center and the area surrounding the Sawgrass Mills Mall unless they do not mind significant traffic delays.The Sawgrass Expressway near the arena will also be closed to commercial trucks during the afternoon rush hour and other drivers should expect significant delays as traffic will be merged into one lane.In addition to the rally, the President and his family are expected to spend the Thanksgiving Holiday at Mar-a-Lago.Checkpoints and road closures in and around Mar-a-Lago are expected will begin Tuesday, no later than 5 a.m. and remain up through Sunday, December 1st. Motorist are encouraged to seek alternative routes.
Authorities in Vero Beach are currently on the scene of a possible bomb threat near 16th Street and Old Dixie Highway.Not much has been released about the incident at this time, however, authorities did report that both East and westbound traffic will be closed for several hours due to their ongoing investigation.This is a developing story.
Move over! It looks like more and more Americans are moving to Florida.The Sunshine State is now the number 1 moving destination according to U-Haul. According to a new report, U-Haul said one-way truck arrivals in Florida increased 1% while one-way departures were down 1%, compared to 2018’s numbers.Texas has held the number 1 spot for at least 4 years, but now Florida bumped them down to the number 2 spot.I guess people love the heat, hurricanes, and alligators!
Prince Harry made his first public appearance since he and Meghan Markle announced their plans to step back from senior royal duties.The Queen has given her blessing for the couple to live in Canada part-time during the transition.Canada’s biggest newspaper, The Globe and Mail, out with a scathing editorial, reading in part, “Canada is not a halfway house for anyone looking to get out of Britain while remaining a royal.” The article goes on to say: “If they were ordinary private citizens, plain old Harry and Meghan from Sussex, they would be welcome. But this country’s unique monarchy, and its delicate yet essential place in our constitutional system, means that a royal resident – the Prince is sixth in the line of succession – is not something that Canada can allow. It breaks an unspoken constitutional taboo.”The Royal Family issued a statement on Monday that said there would be a period of transition as the Prince steps back. His wife Meghan Markle is already in Canada with their son, Archie. The Prince also issued two video statements today on mental health and the Invictus Games.The editorial arguing it isn’t appropriate for the country to house senior royals as a member of the Commonwealth, the family of nations where the Queen is head of state. But that might be exactly the reason why it makes sense: in 2018 she made Harry Youth Ambassador for the Commonwealth.By the way Meghan and Harry picked a great place to put down roots because a new global survey says Canada is the world’s best country in which to live behind Switzerland. Canada has moved up to number two in this year’s survey, and Japan has slipped down to number three.
As visitors from around the country and beyond descend on South Florida this week for the Super Bowl, doctors at one local hospital are implementing new guidelines in order to screen patients for the deadly Coronavirus.The flu-like illness originated in Wuhan, China. Cases have been confirmed in Australia, Germany, France, Canada, and the United States.There are no known cases in Florida.“We are on the side of caution in order to provide the best care for our community,” says Dr. S. Raymond Golish, who practices at Jupiter Medical Center. “Know there are no known cases here at this time, but we are prepared in the unlikely eventuality that such a case occurs.”He adds that the hospital is now following new CDC guidelines to conduct additional screenings for patients who display flu-like symptoms such as fever and coughing.Those patients will be asked to answer questions about their travels and contact with others during the previous two weeks.If doctors suspect the Coronavirus, those patients will then be placed in isolation and local health officials will be notified immediately.Dr. Golish says a sample would be sent to the CDC for testing.There is currently no antiviral treatment for the virus and no vaccine to prevent it.So far, there are more than 6,000 cases in China, and 132 deaths.
A triple homicide has prompted an Amber Alert this morning for a missing week old baby in southwest Miami-Dade County.The child, Andrew Caballeiro, was last seen at a home in the 21900 block of Southwest 187th Ave. according to the Florida Department of Law Enforcement.Three women were found dead at the same home yesterday.Miami-Dade police said the baby may be in the company of 49-year-old Ernesto Caballeiro, though they didn’t immediately call the man a suspect in the slayings.He and the child may be traveling in a 2001, white Chevrolet Express with Florida tag number HETY13.The vehicle has a decal of “Nesty School Services” on it. The vehicle is a passenger van. On the back left door there is a decal of “Caution: Transporting Children.”If you spot the vehicle, do not approach it and call Miami-Dade police at 305-471-2400 or 911.