New Chair to Take Helm at Team Tankers

first_imgzoom Team Tankers International, a company established by Eitzen Chemical within its restructuring process, has entered into an agreement to name Morten Arntzen as chairman of the company.The agreement is subject to Mr. Arntzen being voted onto the Board of Directors by a special general meeting, which is to take place in the company’s office in Bermuda on or about 23 April 2015.Concurrent with Mr. Arntzen’s appointment, Mads Meldgaard will resign from his current role as chairman and will continue on as a director. Mr. Meldgaard had been made the temporary chairman following the closing of the Eitzen Chemical restructuring in January of this year. Mr. Meldgaard will also resign as the managing director of the company, which role will be taken over by Mr. Arntzen.Mr. Arntzen has been involved in the global shipping industry continuously since 1979 and has acted in a variety of capacities including banker, underwriter, advisor, investor, and chief executive officer.“I am excited to join Team Tankers following their very successful financial restructuring and look forward to working with the Board, Senior Management and the employees of the company worldwide to build a stronger and more prosperous shipping company,” said Mr. Arntzen.last_img read more

California governor wants to end tax on tampons diapers

SACRAMENTO, Calif. — California Gov. Gavin Newsom wants to end the sales tax on tampons and diapers and use revenue from legal marijuana sales toward enhancing child care programs.Those items are part of a “parents’ agenda” Newsom will announce Tuesday in a preview of the revised state budget he’ll present later this week.“As anyone who takes care of kids can tell you, these costs add up,” Newsom will say, according to excerpts of his remarks released by his office. “From diapers to child care, raising kids is expensive wherever you live. But when you factor in the cost of living here in California, it is close to impossible.”Cutting the diaper and tampon tax would eliminate about $55 million in revenue from the budget, according to legislative estimates. His child care proposals, meanwhile, would cost about $130 million, with about $80 million coming from taxes on legalized marijuana. Newsom also wants to give families with children under 6 a tax credit of $1,000, but his office did not say how much that would cost.Democratic Assemblywoman Cristina Garcia, who has proposed a bill to eliminate the tampon tax several times, praised Newsom for including it in his budget. She said her proposal is about creating “menstrual equity,” meaning that women don’t face taxes for products their biology requires them to buy.The proposal is about “having a tax code that’s gender neutral (and) a tax code that represents our values,” she said.Several other states including New York have already eliminated the tax on tampons. Former California Gov. Jerry Brown rebuffed eliminating the tax on menstrual products and diapers in 2016. He vetoed the proposals alongside five other tax-related bills, suggesting that such issues should be considered as part of the budget. But he included neither proposal in any of his future budgets.“Tax breaks are the same as new spending – they both cost the General Fund money,” he wrote in his veto message. “This is even more important when the state’s budget remains precariously balanced. Therefore, I cannot sign these measures.”Newsom has said he plans to maintain Brown’s reserved approach to budgeting by limiting new ongoing spending in favour of using extra money to pay down debts and bank away for the next recession. On Thursday, he’ll offer an updated budget that will show whether he’s maintaining that approach. He and lawmakers must agree on a one-year spending plan by June 30.In January, he proposed a $209 billion budget with a $21.5 billion surplus, the state’s largest in at least 20 years. His plan increased spending by about 4% but pledged more than $13 billion to build the state’s reserves and pay down debt. He proposed several billion dollars’ worth of new spending on child care, education and housing, and also called for a new tax to pay for improvements to drinking water.On child care, Newsom would spend an additional $54 million on county-run child care programs through CalWORKS, the state’s public assistance program. Newsom also wants to spend $80 million in tax revenue from legalized marijuana to pay for child care programs, though his staff didn’t offer specifics ahead of the press conference.Kathleen Ronayne, The Associated Press read more

Itchy elephant at Dublin Zoo grabs a stick to scratch behind her

first_imgAN ELEPHANT’S TRUNK is pretty versatile, but it seems to be lacking when comes to scratching.Asian elephant Yasmin, currently residing in Dublin Zoo, encountered this problem late one night, but she knew exactly what to do.Zookeepers caught the act, never seen before in the zoo, on infrared camera. Watch it below: Source: Dublin Zoo/YouTubeMore: Watch as a male tamarin at Dublin Zoo adopts marmoset babies >last_img

Its tough against faceless power on that level cultural groups fight losing

first_imgThey might want to, and they may aspire to these things, but there’s no way of enforcing it.“There’s no security for us now. You try to find out if there is something there, but nobody cares.”Smith agrees: “Everyone is scrapping for survival but it’s tough when you’re against faceless power on that level.” Watersports in Grand Canal Dock Source: Sasko Lazarov/Photocall IrelandThe commitment to encourage artistic and cultural presences in The Docklands will hinge on what people in power want, he argues.“You’ve got people in the City Council who are really committed to it, but they don’t have power because they don’t own the land.”Harris says that it may not be in the nature of Nama to be concerned with the cultural character of the Docklands. There’s a darkness now in this place, and it has the potential to be something so special and so unique.Read: Nama’s transformation from the world’s biggest landowner to Ireland’s biggest landlord>Read: ‘One community’ approach for Dublin Docklands future> Nama’s remit is to generate as much of a return as it can with no recourse to social provision. There’s nothing in the DNA of Nama for that.Social costThe upshot of evicting bodies like Mabos, Smith says, is to dismantle the work they have done in what he describes as a “diverse and complicated neighbourhood”, where corporate wealth exists alongside areas of social deprivation.Barbecues, clean up days and public art exhibitions organised by Mabos helped bring the professional and residential communities together, he says.“Underlying the whole project was the social initiative linking neighbours and neighbourhoods.”center_img Source: Sam BoalCULTURAL GROUPS IN Dublin’s Docklands claim that they’re being forced from their homes by Nama’s plans to develop office space in the docks.Mabos, a shared cultural and artistic space on Hanover Quay, packed up this week after failing to secure a lease extension on a property that is to be developed as office space by a body in which Nama has a shareholding.Director Dave Smith says that the move throws Nama’s commitments to retain the character of the area into doubt. The Docklands attracted several artistic bodies and cultural entrepreneurs during the downturn. Mabos interior Source: Mabos via Facebook“Ultimately the result of it will be seen when you have nothing but one-dimensional office space.”Read: Pathway to ‘Dublin’s Canary Wharf’ – Nama’s €3 billion property playThe company behind the planing application for the Mabos building is Targeted Investment Opportunities (TIO).TIO in turn runs the South Docks Fund, a joint venture between Nama, Oaktree Asset Management and prominent domestic property developer Bennett Construction. Nama is a 16.5% shareholder in TIO.The objective of the fund, according to Michael Noonan, is to “generate capital growth over the longer term by developing, managing and realising property assets on development sites in the Dublin Docklands”.TIO landed planning permission in April to develop a 4,500 square metre office block on the Mabos site in the Docklands.A letter was issued shortly afterwards informing Mabos that it must vacate the premises, a process that was completed yesterday.Opinion: Is the effort to ‘revive the property market’ pushing creative groups out of the Docklands?When asked about the issue, Nama said that while it is a minority investor in TIO, it does not control or manage the entity or the property.Cultural commitmentNama announced major development plans for the Docklands last week, with Noonan saying that the area will be transformed into ‘Ireland’s Canary Wharf’ under the agency’s stewardship. Michael Noonan with Nama chairman Frank Daly (L) and chief executive Brendan McDonagh Source: Sasko Lazarov/Photocall IrelandHowever, many in the Docklands fear that the commitment to retain cultural outlets in won’t be adhered to.Colin Harris is a neighbour of Mabos – he runs Surfdock, a watersports centre with activities in Grand Canal Dock.“All these things have developed as social amenities. They managed to spring up in the downtime, and as things get better they could be trampled on.”Harris is afraid that his company, which currently operates out of portacabins in the Docklands, could fall by the wayside.last_img read more