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Franz Beckenbauer under investigation for alleged corruption over 2006 World Cup

first_imgFranz Beckenbauer is facing a criminal investigation in Switzerland over allegations of financial malpractice in Germany’s successful bid to host the 2006 World Cup.The Attorney General of Switzerland named Beckenbauer, a World Cup winner as a player and manager with West Germany, as one of four men facing criminal proceedings.The four are Beckenbauer, former German football association presidents Wolfgang Niersbach and Theo Zwanziger, and former general secretary Horst Rudolf Schmidt. All four were members of Germany’s World Cup organising committee, with Beckenbauer its president.A statement from the prosecutor said: “The Office of the Attorney General of Switzerland has opened criminal proceedings in connection with the German Football Association (Deutscher Fussball- Bund (DFB)).“The suspects were members of the executive board of the organising committee for the 2006 World Cup in Germany.“The Office of the Attorney General of Switzerland opened criminal proceedings on 6 November 2015. The proceedings relate in particular to allegations of fraud, criminal mismanagement, money laundering and misappropriation.“The suspects in the criminal proceedings are: Horst Rudolf Schmidt. Theo Zwanziger. Franz Beckenbauer. Wolfgang Niersbach.”Beckenbauer, 70, was implicated in an investigation commissioned by the German football association (DFB) into the alleged buying of votes to ensure Germany won the rights to stage the World Cup.That investigation said that funds from an account Beckenbauer had jointly held later appeared in a Qatar account owned by the former FIFA executive committee member Mohamed bin Hammam.The Qatari was banned for life from all football-related activity in 2011 after being found guilty of bribery in relation to that year’s FIFA presidential election.The DFB-commissioned report into the 2006 World Cup bid was conducted by law firm Freshfields Bruckhaus Deringer.It concluded a payment of 6.7million euros (£5.6million) from the DFB to Swiss-based world governing body FIFA in April 2005 could not be ruled out.Beckenbauer has admitted that the payment was a ”mistake”, but has strenuously denied that the money was used to buy votes.The report’s authors concluded that a lack of evidence meant it could not be confirmed the payment had been used to obtain votes.Beckenbauer travelled the world to gain support for Germany’s bid, which was up against rival campaigns from England, South Africa, Morocco and Brazil. Brazil withdrew from the running days before the vote was held in July 2000.Germany beat South Africa by 12 votes to 11 to secure the tournament, after Oceania delegate Charlie Dempsey, who was expected to vote for South Africa and has since died, abstained at the last minute.The Attorney General of Switzerland’s statement added: “The investigations focus on the joint financing of a gala event, initially at the cost of seven million euros (£5.9million), later reduced to 6.7million euros. It is suspected that the suspects knew that this sum was not being used to fund the gala event, but instead to repay a debt that was not owed by the DFB.“In particular, it is suspected that the suspects wilfully misled their fellow members of the executive board of the organising committee for the 2006 World Cup.“This was presumably done by the use of false pretences or concealment of the truth, thus inducing the other committee members to act in a manner that caused DFB a financial loss.“Swiss jurisdiction in the proceedings is based on the fact that certain of the alleged criminal acts were carried out in Switzerland, which is also the suspected place of unlawful enrichment.“In close co-ordination and co-operation with the competent authorities in Austria and Germany and with the support of the Federal Office of Police (fedpol), searches of premises or searches on a co-operative basis for the collection of evidence were carried out in eight separate locations at the same time today.“In addition, various suspects were questioned by or on behalf of the Office of the Attorney General of Switzerland.” 1 Franz Beckenbauer last_img read more

Cloud Computing: Traditional Vendors Struggle to Change

first_imgChange.  It’s usually for the better, but there are often steep hurdles to overcome to adopt it.  In the business world, we see time and again successful business stumble and fall when they are not able to adopt to changes in the business climate.  Business examples are numerous ranging from the auto industry to technology.   The inability to change is the reason why big companies like Microsoft and SAP plateau and struggle.While creating a successful business is not easy, and business failure far outnumber business successes, keeping successful business momentum year after year isn’t possible without continually correctly refining and executing on changes to the business plan.  We hear more and more frequently about new technologies and how they have the potential to be  ‘disruptive’.  Technologies like cloud computing are in that category, and traditional software companies that are ignoring the cloud are beginning to feel the power of disruption.But changing the way that business is done can be difficult.  One example in the news lately is Iron Mountain, a leader in the area of traditional paper-based Records Management.  Iron Mountain is used by 97 percent of Fortune 500 companies and had annual revenues of $3 billion in 2009.  Iron Mountain had the foresight to recognize a future where documents and records will be stored in the cloud.  They made an early push to the cloud by establishing Iron Mountain Digital.But somewhere along the line, Iron Mountain’s execution seems to have slipped.  In April, Iron Mountain announced that they would be shutting down their on-line operations.   Their digital operations lost $58 million in 2010, following a good year in 2009 where they achieved $220 million in profits.  Both the Iron Mountain Virtual File Store and the Iron Mountain Archive Service Platform are being shut down.  Third-party service providers that had used the Iron Mountain API to build applications and services around the Iron Mountain digital vault will be affected.Iron Mountain wanted to emphasize that the announcement didn’t signal a complete exit from the cloud.  They are facing tough competition on the low end of the market space from vendors like Amazon and Google.  They still say that they plan to create higher margin cloud applications.Brian Babineau, storage analyst and vice president of research for Enterprise Strategy Group said that “It is also time for them to focus a bit more. They will be in the ‘application’ business delivered via the cloud, such as archiving and eDiscovery.  I would much rather be in those than in the commodity capacity business, especially when the competition is Amazon, Google, et cetera.”Another point of view was made by Yankee Group storage analyst Zeus Kerravala who said that “It’s a decision that Iron Mountain will regret for a long time. It’s like Xerox giving up on Windows.”The comments by both analysts, while seemingly contradictory, have an element of truth.  Cloud-based storage is certain to become central to any future Records Management strategy.  While Iron Mountain might see no margin or profits by delivering a stripped-down Amazon-like cloud-based storage application, Iron Mountain failed to differentiate themselves as offering a platform that both offered entry-level storage, backup and archival capabilities, but one that could also easily include premium features like records management and discovery.last_img read more

Quick Wins For Improving Performance And Security Of Your Website

first_img Posted on 26th October 2017Web Design FacebookshareTwittertweetGoogle+share Quick Wins For Improving Performance And Security Of Your WebsiteYou are here: When it comes to building and maintaining a website, one has to take a ton of things into consideration. However, in an era when people want to see results fast, while at the same time knowing that their information online is secure, all webmasters should strive for a) improving the performance of their website, and b) increasing their website’s security.Both of these goals are vital in order to run a successful website. So, we’ve put together a list of five technologies you should consider implementing to improve both the performance and security of your website.The post Quick Wins For Improving Performance And Security Of Your Website appeared first on Smashing Magazine.From our sponsors: Quick Wins For Improving Performance And Security Of Your Website Related postsInclusive Components: Book Reviews And Accessibility Resources13th December 2019Should Your Portfolio Site Be A PWA?12th December 2019Building A CSS Layout: Live Stream With Rachel Andrew10th December 2019Struggling To Get A Handle On Traffic Surges10th December 2019How To Design Profitable Sales Funnels On Mobile6th December 2019How To Build A Real-Time Multiplayer Virtual Reality Game (Part 2)5th December 2019 HomeWeb DesignQuick Wins For Improving Performance And Security Of Your Websitelast_img read more

2010 Colley Reserve 5-A-Side Competition

first_imgThere is a record total cash prize pool of $2,000 on offer for the 2010 event.Attached is a flyer and the COE with nomination form included. Further information is also available on the TFSA website (www.touchsa.com.au) .Related Filescolley_flyer-pdfnomination_form___coe-pdflast_img

a month agoSpurs target Bruno Fernandes says he wants to play in England

first_imgSpurs target Bruno Fernandes says he wants to play in Englandby Paul Vegasa month agoSend to a friendShare the loveSporting CP midfielder Bruno Fernandes says he wants to play in England.Fernandes had offers from Tottenham rejected over the summer.Fernandes said: “Of course I’m happy. I have the desire to play England, this is the league I want to play, there are other clubs from other countries and I have the ambition to get there, but when I came to Portugal I had the ambition to play at Sporting, in a great club, and I’m still delighted.“Regardless of whether we’re not in the best shape, I believe we’ll quickly return to that desired form.” TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img read more

Avril Lavigne Launches Celebrity Charity Auction

first_imgAvril Lavigne is celebrating her birthday by launching a massive celebrity charity auction to benefit The Avril Lavigne Foundation.“Thank you to everyone who has donated, tweeted, or posted so far for the Rockstar Room!” blogged the singer. “The video I posted on Tuesday already has over 50,000 views – I am SO proud to know that all of my fans are coming out to show their support for the Avril Lavigne Foundation. Every little bit helps – so keep it up!“Our goal is to provide tons of creative ways for you to give back, so over the past few months the Avril Lavigne Foundation has been reaching out to all kinds of musicians to donate items to a Rockstar Auction that will launch today at 4PM PST. You can sign up for an email notification when it launches here. All net proceeds from the auction will support the Foundation.“I would also like to say a HUGE thank you to all of the awesome musicians and artists who have generously donated items to the auction, including: Deryck Whibley, Four Year Strong, Jesse McCartney, Katy Perry, Lady Gaga, Matt Nathanson, Nickelback, OK Go, Panic at the Disco, DJ Pauly D, Ryan Cabrera, Shaun White, Simple Plan, Skylar Grey, Sum41, Taylor Momsen, Train and Travis Barker.“Please join me in thanking them for their support on Twitter and Facebook – I am so grateful to have these amazing artists and my fans come together to help children and youth living with serious illnesses and disabilities.”You can access the auction here.last_img read more

The debt threat Business debt and worries about it are up

first_imgNEW YORK — Homeowners appear to have learned the lesson of the Great Recession about not taking on too much debt. There is some concern that Corporate America didn’t get the message.For much of the past decade, companies have borrowed at super-low interest rates and used the money to buy back stock, acquire other businesses and refinance old debt. The vast majority of companies are paying their bills on time, thanks in large part to profits that have surged since the economy emerged from the Great Recession nine and a half years ago.But with interest rates rising and U.S. economic growth expected to slow next year, worries are building from Washington to Wall Street that corporate debt is approaching potentially dangerous levels. U.S. corporate debt has grown by nearly two-thirds since 2008 to more than $9 trillion and, along with government debt, has ballooned much faster than other parts of the bond market. Investors are most concerned about companies at the weaker end of the financial-strength scale — those considered most likely to default or to get downgraded to “junk” status should a recession hit.“I’ve been more worried about the bond market than the equity market,” said Kirk Hartman, global chief investment officer at Wells Fargo Asset Management. “I think at some point, all the leverage in the system is going to rear its ugly head.”Consider General Electric, which said in early October it would record a big charge related to its struggling power unit, one that ended up totalling $22 billion. Both Moody’s and Standard & Poor’s subsequently downgraded GE’s credit rating to three notches above “speculative” grade, which indicates a higher risk of default.GE, with about $115 billion in total borrowings, is part of a growing group of companies concentrated at the lower end of investment-grade. Other high-profile names in this area within a few notches of junk grade include General Motors and Verizon Communications. They make up nearly 45 per cent of the Bloomberg Barclays Credit index, more than quadruple their proportion during the early 1970s.Credit-rating agencies say downgrades for GE, GM or Verizon aren’t imminent. But the concern for them, and broadly for this swelling group of businesses, is if profits start falling or the economy hits a recession.If those companies do drop below investment grade, they’d be what investors call “fallen angels,” and they can trigger waves of selling. Many mutual funds and other investors are required to own only high-quality, investment-grade bonds — so they would have to sell any bonds that get cut to junk.The forced selling would lead to a drop in bond prices, which could result in higher borrowing costs for companies, which hurts their ability to repay their debts, which could lead to even more selling.Even the chairman of the Federal Reserve has taken notice of the rise in corporate debt. Jerome Powell said in a recent speech that business borrowing usually rises when the economy is growing. But he said it’s concerning that, over the last year, the companies increasing their borrowing the most are those already with high debt and interest burdens.To be sure, many bond fund managers say companies were smart to borrow hefty sums at low rates. And at the moment, there are no outward signs of danger. The default rate for junk-rated corporate bonds was 2.6 per cent last month, which is lower than the historical average, and S&P Global Fixed Income Research expects it to fall in upcoming months.Even if the economy does fall into a recession, fund managers say losses won’t be to the same scale as 2008 when the financial crisis sent the S&P 500 to a drop of nearly 37 per cent and the most popular category of bond funds to an average loss of 4.7 per cent.In his speech, Powell said he doesn’t see the weaker parts of the corporate debt market undermining the financial system in the event of an economic downturn, at least “for now.”Other investors see the market’s growing worries as premature. Companies are still making record profits, which allow them to repay their debts, and consumer confidence is still high.“There is a story out there that there’s a recession coming very soon, and you had better head for the hills,” said Warren Pierson, deputy chief investment officer at Baird Advisors. “We think that’s a pretty early call. We don’t see recession on the horizon.”That’s why he and Mary Ellen Stanek, who run bond mutual funds at Baird, haven’t given up on corporate bonds, even if they’ve moderated how much they own.But critics see some echoes of the financial crisis in today’s loosening lending standards. Consider leveraged loans, a section of the market that makes loans to companies with lots of debt or relatively weak finances. These loans have been popular with investors in recent years because they often have what are called floating rates, so they pay more in interest when rates are rising.Paul Massaro, portfolio manager for floating-rate strategies at T. Rowe Price, says he’s still positive about this market in general. But his team of analysts has been finding more warning flags in offerings, where the terms of the deal may be overly friendly to borrowers and allow them to amass more debt than they should.It’s gotten to the point where Massaro is participating in about 15 per cent of all offerings today, down from 30 per cent a few years ago.Investors have largely been willing to stomach higher risk because they’ve been starved for income following years of very low interest rates.As a result, some bonds that by many accounts look like risky junk bonds are trading at prices and yields that should be reserved for higher-quality bonds, say Tom McCauley and Yoav Sharon, who run the $976.3 million Driehaus Active Income fund. To take advantage, they’re increasingly “shorting” corporate bonds, which are trades that pay off if the bonds’ prices fall.They recently began shorting bonds of a packaged goods company with a “BBB” rating that borrowed to help pay for a large acquisition, for example. A “BBB” rating is at the lower end of investment grade, and a drop to “BB” would send it into junk status.With so much debt, McCauley and Sharon believe that it’s at risk of getting downgraded to junk and is not paying enough in yield to compensate for its risk.“As we get into the later stages of the cycle, the sins of the early stages of the cycle tend to start showing up,” said Sharon. “We think that’s where we are today.”Stan Choe, The Associated Presslast_img read more

Anthony Davis Has Been Great So Why Are The Pelicans So Bad

SEASONTEAMPLAYERAVG. GAME SCORE ’13-14Utah JazzGordon Hayward13.9 ’12-13Washington WizardsJordan Crawford8.2 ’16-17New Orleans PelicansAnthony Davis26.3 Anthony Davis and the New Orleans Pelicans finally found the win column Thursday, managing to hold on in a hard-fought game in Milwaukee that marked their first victory of the season.It took a lot longer than they would’ve liked. Before the win, New Orleans was 0-8 despite the dazzling play of Davis, who in the season opener posted a 50-point, 15-rebound, five-steal, five-assist, four-block performance. Through nine games, he’s averaging 31 points, 11 rebounds, three blocks, two steals and two assists.Davis’s off-the-charts, early-season numbers are essentially unprecedented in modern basketball for such a struggling team. If we look at Game Score — Basketball-Reference’s metric for a player’s contribution and efficiency in a single game — we can see that no player on a team that’s begun a season 0-8 has come anywhere near Davis’s average Game Score of 26.3 during that initial stretch of games in the 30 years for which the stat is available. (The Sixers, who haven’t won an October or November game since 2013, will seek to avoid an 0-8 start on Friday night.) Players with the highest Game Scores on NBA teams with an 0-8 start, since 1985 ’15-16Philadephia 76ersJahlil Okafor12.2 ’02-03Memphis GrizzliesPau Gasol14.4 ’05-06Toronto RaptorsChris Bosh16.6 ’14-15Philadephia 76ersTony Wroten13.8 ’85-86Phoenix SunsLarry Nance13.6 ’01-02Memphis GrizzliesLorenzen Wright14.6 ’12-13Detroit PistonsGreg Monroe12.4 ’88-89Indiana PacersWayman Tisdale14.7 ’97-98Los Angeles ClippersLamond Murray9.6 ’97-98Denver NuggetsLaPhonso Ellis5.0 ’11-12Washington WizardsJaVale McGee11.1 ’04-05Charlotte HornetsBaron Davis19.2 Source: Basketball-reference.com While players from earlier eras — Artis Gilmore, Bernard King and Mark Aguirre to name a few — put up big numbers for similarly bad teams, Davis’s statistics stand apart because of how many different ways he’s able to impact a game. He has career highs in both usage percent and true shooting percent (despite shooting just 18.8 percent from three this season) — one of the rare instances where a player’s increased workload coincides with an uptick in efficiency. That’s thanks to a hypermodern post-up game that often sees him catch the ball near the free throw line, post his man, and either quickly turn to drive or face up and work from the dribble. While these may not be “post” plays in the traditional, back-to-the-basket sense, they’ve been effective — Davis is scoring 110 points per 100 possessions on post plays, according to Synergy Sports, after scoring 78.2 and 84.7 points per 100 the last two seasons.While the 23-year-old’s average Game Score only covers about 10 percent of the season, consider this: If he finishes the season at his current level, Davis would surpass all but one MVP season over the past 30 years (Michael Jordan’s 1987-88 campaign, in which His Airness posted 35 points, 5.5 rebounds and 5.9 assists a night)The obvious question: How are the Pelicans — who also lost 11 of 12 to start last season, as Davis missed three games with injuries — this terrible with such a great player, especially with their defense having improved considerably from last season?Several factors are to blame.Perhaps the most obvious: Besides Davis, there hasn’t been enough offensive firepower, or perimeter shooting, to keep opposing defenses honest. Yes, some of that figures to change once floor general Jrue Holiday returns to the lineup. But without floor spacer Ryan Anderson, who signed with Houston in July, Davis isn’t getting much help from the Pelicans’ wing players just yet. Shooting guard Buddy Hield, for example, the Pelicans’ first-round draft pick who averaged 25 points per game during his senior year at Oklahoma, is taking almost six three-pointers a night, but is connecting on just 23.5 percent of them.Teams have sent hard, aggressive double-teams at Davis on 9 percent of his post-up looks this season, three times as often as last year, per Synergy Sports. He’s done well when he opts to shoot over the double, but he hasn’t had a reliable shooter to pass to. Of the 15 times he’s passed out of a post-up double-team, the Pelicans have scored a total of four points and shot just 7 percent (1-of-13), according to Synergy. Defenses have been wise to ignore perimeter shooters: New Orleans is an NBA-worst 28.6 percent from behind the arc.Another problem: The team is essentially playing without a point guard. The Pelicans have been without guards Holiday and Tyreke Evans (who is out with knee issues), and recently lost Lance Stephenson — who’d played well as a primary ball handler off the bench — to a groin injury, leaving journeyman backup Tim Frazier to handle things. The ailment was a setback for a team that has done surprisingly well, all things considered, when Davis is forced to take breathers. The Pelicans’ net rating, while still negative, has been better in the minutes that Davis is on the sidelines, according to NBA.com.If there’s a saving grace for Davis and the Pelicans so far, it’s that they’ve been relatively unlucky to this point. According to NBA.com, they’ve lost a league-high six games in clutch scenarios, where the score was within five points in the final five minutes of play. They’re also the only team in the NBA with two overtime losses already, meaning they might be due for success in close games going forward.But even if their record doesn’t bounce back and they do indeed turn out to be one of the NBA’s worst teams, Davis’s otherworldly performances might be reason enough to watch them play from time to time.Check out our latest NBA predictions. read more

Giampaolo Quagliarella may be recalled to the Italian squad

first_imgSampdoria Coach Marco Giampaolo thinks Fabio Quagliarella may not be far from a return to the Italian national team.Quagliarella, 35, hasn’t featured for his country since 2010, but he has been instrumental in his side’s success so far this season in Serie A.“Fabio is a strong player, but he needs to play 38 games so I took him off,” Giampaolo explained to Football Italia after beating Spal.“I understand he might not have been happy, but I have other strong players. It’s clear that there are hierarchies, but I can’t play an entire season with 11 men.“Italy? It wouldn’t surprise me, because he’s a great player, an assist man, and it would be an extraordinary gift to him.”Cristiano Ronaldo, JuventusSerie A Betting: Match-day 3 Stuart Heath – September 14, 2019 Considering there is a number of perfect starts so early in the Serie A season, as well as a few surprisingly not-so perfect ones….Giampaolo also reflected on the Blucerchiati’s performance tonight.“We could have managed the game better but we didn’t have the resources to do that. It was our fifth game in two weeks and I’m happy with how we dealt with it.“We lost our control of the ball and we suffered for the past 10 minutes, but the defensive line and the midfield proved to be solid.“We’d be even higher in the table if we hadn’t had some incidents in the final minutes. Tonight the team was always switched on.“A team is strong when the level is the same for 90 minutes.”last_img read more

Turks and Caicos team delivers perfect pitch for travel to home of

first_img Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsAppATLANTA, Georgia – May 19, 2015, In a debut presentation, the Turks and Caicos Islands delivered an impressive ‘wow’ effect with a new 12-minute promotional video which not only stole the show, but was the perfect pitch to Atlanta’s leading Travel Agents.The Premier’s North American Tourism, Investment & Commerce Sales Blitz, on Monday, took to the road for a second year and once again featured a high caliber contingent of Hotel, Tourism, Aviation, Real Estate and Business professionals who brought an alluring presentation to the city of the world’s busiest airline hub. The road trip team led by Hon. Dr. Rufus Ewing, Premier of the Turks and Caicos Islands and Minister of Tourism, Hon. Porsha Smith had a lot more to show off to the travel agents this year; the country was recently named as having the #1 Island in the World – Providenciales – in the Trip Advisor© Traveller’s Choice Awards.“You many know Turks and Caicos for a beautiful set of islands that are known for great beaches, are known for high end luxury resorts and I am sure most of you who have visited Turks and Caicos before could attest to that; that we present world class resorts and that is why we were voted as the Number #1 Island destination in the world; the most beautiful island in the world,” said Premier Rufus Ewing as he welcomed the dozens of agents.The City Club of Buckhead in Atlanta, Georgia proved the ideal venue to roll out the production, which intentionally took the viewers beyond the sands and surf to the rich historic culture, adventure opportunities, unique island traditions, fine festivals, delicious culinary experiences and diversity of island escapes which the archipelago offers.With a city that is home to over 5.5 million people and a direct link between Providenciales and Atlanta, thanks to Delta, the agents who arrange vacations for these millions explained their clients are always overjoyed at their Turks and Caicos experience.“One of the things that gave me a great wow factor for my clients is the nature and the beauty and fine dining, people love to eat and people love nature and beauty,” explained Tilda Mosley of Personal Touch Tours Travel Agency in Hay Field, Georgia.The Premier’s North American Sales Blitz will span six cities in the United States this week and next moves into Houston and Dallas in Texas. Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:atlanta, Aviation, city club of buckhead, Hotel, Portia smith, premier rufus ewing, premier’s sales blitz, Real Estate, tourism Atlanta Weather forecast Survey shows TCI beaches keep visitors coming Baha Mar deal should not be secretlast_img read more