Y News:The Family YMCA’s annual gala has been replaced with a “Be The Light” online fundraising event to run Oct. 17-31. This link details the change.The online event will feature a silent auction including premium items, a message from Nashville sensation James Carothers, a $1,000 raffle, videos, sponsor thanks, and a special tribute from children and adults in Y programs.Donations and auction purchases will support the Y through the COVID-related service pause, and provide financial assistance to more than 300 low-income individuals who use Y programs through financial assistance. A link to the Online Auction site will be announced and available starting Oct. 13 at www.laymca.org.
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CARDONE Industries has announced the election of its CEO, Mike Carr, to the MERA Board of Directors.AdvertisementClick Here to Read MoreAdvertisement “It is an honor to have Mike Carr serve on the MERA Board of Directors,” said John Chalifoux, president and chief operating officer, MERA. “Mike’s leadership experience, along with the rich tradition of CARDONE in remanufacturing, will be a strong asset as we continue to advance the sustainable manufacturing industry.”,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisement LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement DeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business. CARDONE has been providing re-engineered and remanufactured automotive parts for 50 years. Its process is sustainable from beginning to end by recycling all the waste and byproducts created during the remanufacturing process and conserving thousands of tons of resources each year including cardboard, paper, scrap metal, oil, plastic and electronics. MERA, The Association for Sustainable Manufacturing, is the remanufacturing and sustainability division of MEMA, the Motor & Equipment Manufacturers Association. MERA is a network of businesses that promote the benefits of remanufacturing and sustainability in the transportation and manufacturing industry. “This appointment is especially meaningful, since CARDONE was instrumental in the creation of MERA and Michael Cardone Jr. was the founding chairman of the organization,” said Carr. “We continue to support MERA’s mission, as sustainability was at the root of CARDONE’s inception and continues to be at the forefront of our business today.” With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit. DeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain.
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Since 1 January 2017, the Technical University Delft and all Dutch office and manufacturing locations of the Unilever consumer goods group have been buying electricity generated by the Eneco Luchterduinen offshore wind farm.Each year, Unilever will purchase almost 70,000MWh of electricity generated by the Dutch offshore wind farm in the North Sea.As announced last year, the Technical University Delft decided to only purchase sustainable electricity generated in the Netherlands from 2017 onward. The choice of green electricity is part of the university’s policy of a highly-sustainable campus and to halve its CO2emissions by 2020 compared with 2012. By purchasing green electricity from Eneco’s Luchterduinen wind farm, the university will reduce its CO2 emissions by 60%.This was reported within Eneco’s results for 2016.In 2016, Eneco Group made a net profit of EUR 199 million, slightly down on the figure of EUR 208 million for the previous year. Combined revenue fell to EUR 3.9 billion from EUR 4.3 billion in 2015. The operating profit of the Network Company (Stedin) fell by 23% to EUR 214 million while its revenue rose to EUR 1.2 billion. Operating profit of the Energy Company (Eneco) rose by 93% to EUR 106 million although revenue fell to EUR 2.7 billion.The Group reported that its total operating expenses rose by EUR 93 million (6%) to EUR 1,624 million, mainly as a result of investment in promising business activities and innovation, precario and activities related to the unbundling.Interest-bearing debt increased in 2016, largely as a result of an agreement with a banking consortium for the refinancing of the Eneco Luchterduinen wind farm, which has been in operation since 2015.Guido Dubbeld, CFO of Eneco Group, said: “In 2016, our available sustainable energy generation capacity rose to 2,054 MW, mainly because we brought a number of wind farms on stream or had been able to acquire them. Against this background, I am very pleased that Eneco is a member of two consortia selected for the construction of two large off-shore wind farms: Norther off the Belgian coast and Borssele III & IV off the coast of the province of Zeeland. Both projects will give an enormous boost to making energy in the Netherlands and Belgium more sustainable.“Furthermore, we could offer our customers lower prices for electricity and gas as we were able to obtain better purchase prices. We did, however, face higher costs during the past year. Stedin saw municipal taxes for encroachments on or over public land (precario) rise sharply. The cost of the forced unbundling of our business from 31 January 2017 also rose. We were able to absorb the higher costs thanks to focused efficiency measures.”
Seven Licensing Company Sarl and another company v FFG-Platinum SA and other companies: Queen’s Bench Division, Commercial Court (Mr Justice Gloster): 16 November 2011 Maciej Rataj, The, Tatry (cargo owners) v Maciej Rataj: C-406/92  All ER (EC) 229 applied; Owens Bank Ltd v Bracco (No 2): C-129/92  1 All ER 336 applied; Sarrio SA v Kuwait Investment Authority  4 All ER 929 considered; Research in Motion UK Ltd v Visto Corpn  All ER (D) 72 (Mar) considered; Cooper Tire & Rubber Co Europe Ltd v Bayer Public Co Ltd  All ER (D) 291 (Jul) considered. Conflict of laws – Challenge to jurisdiction – Parties entering into licence agreement The first claimant, (SLC) was a company incorporated under the laws of Luxembourg. The second claimant, (Seven) was a company incorporated under the laws of Hong Kong. The first defendant, (FFG-SA), was a company incorporated under the laws of Greece. The second defendant, (FFG-IP) and the third defendant, (FFG-DH) were companies incorporated under the laws of Cyprus. SLC and FFG-SA entered into a licence agreement (the licence). The claimants’ case was that FFG-SA failed to honour the licence. Without exercising its rights to sue FFG-SA for breach of the licence, SLC agreed to sell the trademark which was the subject of the licence to FFG-IP pursuant to a memorandum of agreement (the MOA). The MOA contained an English law and jurisdiction clause. In return, FFG-IP agreed to pay SLC a total of $12.5m way of six annual instalments, and to secure these amounts by irrevocable and transferable bank guarantees. Pursuant to a side agreement dated on or around 29 February 2008 (the side agreement), FFG-IP designated FFG-DH as its nominee to pay and deliver to SLC the instalment payment of the $12.5m, and also the bank guarantees. FFG-IP had secured the first instalment of the purchase price by causing the Bank of Cyprus to issue to HSBC an irrevocable bank guarantee dated 14 December 2007 for the benefit of Seven (the first bank guarantee). Pursuant to the side agreement, FFG-DH caused the National Bank of Greece (NBG) to issue to HSBC an irrevocable bank guarantee for the benefit of FFG-IP (the second bank guarantee). The claimants contended that FFG-IP and/or FFG-DH consistently failed to meet the instalment payment and bank guarantee programme. Meanwhile, the defendants obtained an injunction from the Greek court prohibiting payment under the first bank guarantee when the claimants attempted to enforce their security. Despite coming to an agreement to extend the date for payment of the first instalment, FFG-IP missed the new payment deadline and FFG-IP and/or FFG-DH also missed the payment deadline for the second instalment. HSBC, on behalf of Seven, made a demand on NBG for payment of $2m under the second bank guarantee. On 9 February 2010, FFG-DH obtained an interim injunction in Greek proceedings against NBG and Proton Bank SA (which was the original issuer of the second bank guarantee) (Proton) restraining them from paying any sums to Seven under the second bank guarantee. That injunction was later continued by the Greek court prohibiting any payment under the second guarantee by NBG and Proton to Seven until trial, which was due to be heard in November 2012. The claimants issued a claim in the English courts contending that, to date, FFG-IP and FFG-DH had only paid $2.5m of the total agreed consideration of $12.5m, as against $6.5m which, on the claimants’ view, should by now have been paid in accordance with the parties’ agreement. The defendants contended in the English and the Greek proceedings that the claimants were estopped from demanding payment or calling on the second bank guarantee, as the parties to the MOA, together with Seven and FFG-DH, had agreed to a revised schedule agreement in relation to the second and subsequent instalments. The defendants issued an application for a stay of the English proceedings pursuant to article 28 of Council Regulation (EC) No 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (the regulation). The defendants submitted, inter alia, that: (i) the English and the Greek proceedings were related; (ii) there was a risk of conflicting decisions if both the English and the Greek proceedings went ahead; and (iii) as a matter of discretion, the appropriate order would be for the English proceedings to be stayed pending the outcome of the Greek proceedings. The application would be dismissed. It was established law that actions were related if they involved the risk of conflicting decisions, without necessarily involving the risk of giving rise to mutually exclusive legal consequences. There were three factors which might be relevant to the exercise of the discretion; first, the extent of the relatedness and the risk of mutually irreconcilable decisions. Secondly, the stage reached in each set of proceedings; and thirdly the proximity of the courts to the subject matter of the case. The closer the connection between the proceedings in question, the more necessary it would appear for the court second seised to stay its proceedings (see ,  of the judgment). In the particular circumstances of the case, the degree of connection between the sets of proceedings was limited. Not only were the issues with which the Greek court was concerned narrow (since they related to the obligation to pay the second instalment), but the parties to those proceedings were the relevant banks (Proton and NBG) and FFG-DH. FFG-IP, the primary defendant in the English proceedings, was not a party to the Greek Proceedings. The only jurisdiction where all the parties were present and involved was in the proceedings in England. The claims in the English proceedings would go ahead irrespective of the Greek Proceedings, since the latter only related to whether the banks were obliged to honour the second bank guarantee. It had to be legitimate to take into account, in the exercise of the court’s discretion, the fact that the defendants’ argument in relation to whether the dates for payment under the MOA had been agreed to be rescheduled was so weak as to be the likely subject of a summary judgment application. Further, the risk of mutually irreconcilable decisions was remote, given the fact: (a) that the Greek court would have to apply English law to determine the defendants’ obligations under the MOA; (b) of the limited issues in play in the Greek proceedings; and (c) of the stage reached in the Greek proceedings. Finally, the English court was clearly in the best position to decide the issues raised in the English proceedings and so far as they overlapped and/or were based on English law, the issues raised in the Greek proceedings (see -]51],  of the judgment). David Cavender QC (instructed by Norton Rose LLP) for the claimant; Jeffrey Chapman QC (instructed by K&L Gates LLP) for the defendants.
Net profit at the shipping line for 2012 totalled SAR504 million (USD134.4 million), up 75.1 percent over 2011.Operating profit during the trading period rose by 97.7 percent year-on-year to SAR453.8 million (USD121 million).According to BAHRI, its net profit surge was a result of an improvement in the oil and gas sector, due to an increase of the average time charter equivalent rates in the very large crude carrier spot market. BAHRI also saw improvement in the general cargo sector. www.bahri.sa
The rig, which is 122 m long, 71 m wide and 37 m high, and capable of drilling up to 10,000 m deep, is owned by Diamond Offshore Drilling Inc, headquartered in Houston, USA.While the rig was retrieving its remaining four anchors, Fairmount Summit connected to the tow bridle and performed heading control to the rig. The tug then delivered the rig safely at Astican Shipyard in Las Palmas and assisted in the berthing manoeuvres of the rig.Fairmount Marine, which is headquartered in Rotterdam, is a marine contractor for ocean towage and heavy lift transportation. www.fairmount.nlwww.diamondoffshore.com
SOUTH KOREA: National operator Korail announced a 269bn won order for 84 Hyundai Rotem EMU-250 electric multiple-unit cars on December 30. Deliveries are scheduled by the by the end of 2020.Derived from the HEMU-430 experimental high speed design unveiled in 2012, the EMU-250 has distributed traction giving a maximum service speed of 260 km/h. Korail plans to use the EMUs on routes with a maximum operating speed of 200 km/h, including Cheongnyangni – Busan (48), Uijeongbu – Iksan (24) and Icheon – Mungyeong (12). In contrast to the KTX-Sancheon high speed trainsets, the EMU-250 will be optimised for routes where high passenger capacity and rapid acceleration and braking between relatively closely-spaced stations are more important than maximum speed. On December 22 Korail ordered a pair of eight-car 320 km/h HEMU trainsets at a cost of 59bn won.
Jamaica’s Cameron Brown on the Rise2016 marked an extraordinary year as Jamaica’s swimmers rewrote the National Record Books more than 30 times in the Long Course 50-meter distance. 14 days into the new year, and already Cameron Brown of Azura Florida Aquatics in Miami is making an impact.Brown became the first 13-14 age group Jamaican male swimmer to make the 100 meter Breaststroke event in under 1 minute 10 seconds. On the first day of the two day Gulliver Senior Invitational on Saturday, January 14, Cameron won the Bronze in the Breaststroke event with a time of 1:09.93. He held the old National standard of 1:10.01 which he set at the 2016 Caribbean Islands Swimming Championships (CISC) in Nassau, Bahamas when he also won Bronze in the Boys’ 13-14 Age Group.In speaking about his record breaking feat Cameron said, “Being in the final heat (9 of 9) of the Boys’ 100 Breaststroke was great. I was up for the challenge and my aim really was to lower the 13-14 Boys’ National record of 1:10.01 which I set at CISC 2016. I had a great start, and my first 50 was fast. The next 50 was challenging but I kept pushing, I didn’t even realize I was in the 3rd spot until I checked the board at the end of the race. Felt good that I actually medaled too.”Coach Marco Bellardi described Cameron’s race and work ethic by reiterating his amazing reaction time coming off of the block and he “really worked the last 15 meters into the finish. Cameron was very focused behind the blocks before the start of the race. He is a hard worker in the practices and he is very clear on his goals.”The improvement Cameron has made over the last year is clearly seen in the comparison of his times at this meet and his times from January of 2016. Brown is a sure fit for when the team heads to CARIFTA in The Bahamas in April and Central American and Caribbean Amateur Swimming Confederation in Trinidad and Tobago in July.