Moral hazard…

first_img…and JordanOpposition Leader Bharrat Jagdeo pointed out that by offering tax amnesties to those folks who haven’t paid their taxes, Finance Minister Winston Jordan was opening up serious “moral hazard” questions. The PPP’s General Secretary also noted this danger was identified by the IMF. Well!! Who told Jagdeo to raise this moral hazard danger!??!! Jordan came out swinging: “I don’t know what’s all this nonsense about moral hazard Jagdeo’s talking about!!”This reaction was so heated and personal your Eyewitness assumed Jordan thought Jagdeo was accusing HIM of some moral lapse…like being caught in flagrante delicto?? But it soon became clear Jordan’s ire was raised because he didn’t fully comprehend the meaning of the term “moral hazard” as used by Jagdeo, who’s an economist. As such, the term refers to a situation when somebody has an incentive to take risks that OTHERS will pay for.It’s like the fella who’s carelessly installing expensive but required electrical wiring because he has big home insurance: he figures he’ll just buy a new home if the place burns down!! In the case of the taxes, all Jagdeo said was, “People know that when you have tax amnesties, anyone can go in there and work out special deals because it is not transparently done.”Now he was talking as an economist who’d been Finance Minister for years and President for another 12!! He KNOWS what goes on with these “amnesties”!! Jordan, however, insisted, “There would be no reduction of tax; none at all…it is just the penalties that would be waived.” From his reaction, it’s even clearer Jordan really doesn’t understand the ramifications of “moral hazard” – which is fatal for a man in charge of our national finances.He should’ve considered Jagdeo’s caution from at least two different perspectives rather than his rose-coloured glasses. Governments in general – and this government in particular – may have policies that are straight up. But the policies have to be executed by INDIVIDUALS – and this is where moral hazard enters the picture. Take the duty-free policy on vehicles for returning Guyanese…the policy’s very clear…but we know about the runnings – like with the Mook’s Lexus SUVs!!So, with the tax amnesties, shouldn’t Jordan conduct a check (an audit!?!) on how the amnesties were applied. The second area’s even more fundamental – and Jordan should be spanked for missing it. In Guyana, taxes have to be paid ahead of time – quarterly. A businessman who’s allowed to NOT PAY ON TIME – with no penalties imposed – will be encouraged to go this route. THAT’s moral hazard!!The Government loses because it has lost the opportunity costs of the taxes not paid up front!And we wonder why the economy’s tanking?!…and Amerindian (under) developmentPM Nagamootoo, in his role as apologist for the PNC-led Government with a column in the Chronic, confronts moral hazard issues every time he writes!! He recently expatiated at length about how much the Government’s done for Indigenous Peoples. One wonders which world he’s living in!! He mentioned the radio station – broadcasting Government propaganda day and night!! He spoke of his visit to the Rupununi last year when he observed the rainy weather flooding – apparently completely oblivious to the same flooding this year. Meaning nothing was done about it!! He went on and on about all kinds of innocuous Government programmes – all part of the Government’s pappy show about “doing something”.But reality kicked in when Allicock, the individual who he boasted invited him to the Rupununi, was quoted in the same Chronic bemoaning that 40,000 out of 48,000 Amerindian youths were unemployed!!So much for the Hinterland Employment and Youth Service (HEYS) programme Nagamootoo boasted about!!The sad fact is Nagamootoo is just a shrill PNC shill!!…in constitutional interpretationThe moral hazard question was raised when former PPP Exec Ramkarran – noting all Richardson had to show was the Parliament’s amendment of Art 90 “adversely affected” Art 1 and 9 to be unconstitutional – yet praised the CCJ’s decision.Denying thousands of citizens from contesting the presidency doesn’t “adversely affect” democracy?last_img read more

Unearthing Africa’s future leaders

first_img30 July 2003Fifteen fellows who will comprise the South African contingent of the African Leadership Initiative (ALI) were announced in Johannesburg last week during the inauguration of the Initiative, which is designed to foster a new generation of community-spirited leaders in Africa.Modelled after the Henry Ford Fellowship Programme of the 53-year-old Aspen Institute in the US, the South African launch of ALI was attended by government, business and civil society leaders from Ghana, Mozambique and East Africa (incorporating Kenya, Tanzania and Uganda), where the programme is already under way.US representatives of the Aspen Institute and sponsors, Technoserve, were also present.“We need as many initiatives as we can possibly have to make a huge difference to the continent and put Africa on the map”, said Isaac Shongwe, the South African chairman of ALI. “If one looks up into Africa, it chills the blood to see what human beings are capable of doing to one another.”Shongwe added that there was a leadership crisis in Africa and that the ALI sought to develop the next generation of values-based, community-spirited leaders by providing them with the necessary tools to meet the challenges of corporate and civic leadership in the 21st century.“If we want this to be the African century, we need to rise to our challenges and emerge as a continent that could take its place in the global community,” Shongwe said, stressing that talk about the African Renaissance and the continent’s home-grown economic recovery plan, the New Partnership for Arica’s Development, needed to be translated into reality.As was the case in Ghana, East Africa and Mozambique, each of the 20-member class of fellows was chosen from young executives and professionals on the strength of their potential or demonstrated leadership “at the highest level of corporate and civic responsibility”. Five more members still need to be added to the list of South African ALI fellows.The South African fellows are mainly representatives of captains of industry, and will attend their first seminar, “The Challenge of Leadership”, in September. Each class will be involved in four seminars and a community leadership project spread over 23 days during the next three years.“Over the next five years, we hope that approximately 400 people will have graduated from the programme”, said Bill Mayer, the chairman of the Aspen Institute.“A significant number of these could have a heavy influence on how your economies have developed, are developing and will develop. They will hopefully succeed in stimulating economic growth on the continent coupled with a strong sense of responsibility to humankind.”The 15 South African fellows announced last week are: LEBOGANG HASHATSE: general manager of corporate affairs, MultichoiceARTHUR MUTAMBARA: director of payments, Stanbic AfricaKETSO GORDHAN: executive director, Rand Merchant BankIQBAL SURVE: chief executive officer, Sekunjalo InvestmentsLESLIE MAASDORP: international adviser, Goldman Sachs InternationalHERMAN STEYN: CEO, Prescient Investments ManagementBRUCE ROBERTSON: managing director, Africa Resources Holdings LtdLINDIWE SANGWENI-SIDDO: general manager, Sandton Sun & Towers IntercontinentalLULU GWAGWA: chief executive, Independent Development TrustTHOLOANE QHOBELA: strategic planning director, Ogilvy & Mather RightfordBERNICE LUE-MARAIS: head of Africa business development, CSIRBONGIWE NJOBE: director-general, National Department of AgricltureHENRY MALINGA: chief director of supply chain policy, National TreasuryRALPH FREEZE: chairman of the board, Spier Leisure HoldingsSANDILE DIKENI: arts editor, This Day SASource: African Leadership Initiative SAlast_img read more

Energy Management vs. Power Management in Data Center Servers

first_imgDoes this mean that it will be possible to cut the electricity bills by one third to one half using DPNM?  This is a bit optimistic.  A typical use case for DPNM is as a “guard rail”.  It is possible to set a target not to exceed for the power consumption of a server as shown in the figure below.  The red line in the figure represents the guard rail.  The white line represents the actual power demand as function of time; the dotted line represents the power consumption that would have existed without power management. Enforcing this power cap brings operational flexibility: it is possible to deploy more servers to fit a limited power budget to prevent breakers from tripping or to use less electricity during peak demand periods.There is a semantic distinction between energy management and power management.  Power management in the context of servers deployed at a data center refers to a capability to regulate the power consumption at a given instant.  Energy management refers to the accumulated power saved over a period of time.The energy saved through the application of DPNM is represented by the area between the dotted line and the white graph line below; the power consumed by the server is represent by the area under the solid white graph line.  Since power capping is in effect during relatively short periods, and when in effect the area between the dotted line and the guard rail is relatively small, it follows that the energy saved through the application of DPNM is small.One mechanism for achieving significant energy savings calls for dividing a group of servers running an application into pools or “platoons”.  If servers are placed in a sleeping state (ACPI S5 sleep) during periods of low utilization it is possible to bring their power consumption to less than 5 percent of their peak power consumption, basically just the power needed to keep the network interface controller (NIC) listening for a wakeup signal.As the workload diminishes, additional servers are moved into a sleeping state.  The process is reversible whereby servers are taken from the sleeping pool to an active state as workloads increase.  The number of pools can be adjusted depending on the application being run.  For instance, it is possible to define a third, intermediate pool of power capped servers to run lower priority workloads.  Capped servers will run slightly slower, depending on the type of workload.Implementing this scheme can be logistically complex.  Running the application in a virtualized environment can make it considerably easier because workloads in low use machines can be migrated and consolidated in the remaining machines.We are conducting experiments to asses the potential for energy savings.  Initial results indicate that these savings can be significant.  If you, dear reader have been working in this space, I’d be more than interested in learning about your experience.If this topic is of interest to you, please join us at the Intel Development Forum in San Francisco at the Moscone Center on September 22-24.  I will be facilitating course PDCS003, “Cloud Power Management with the Intel(r) Xeon(r) 5500 Series Platform.”  You will be the opportunity to talk with some of our fellow travelers in the process of developing power management solutions using Intel technology ingredients and get a feel of their early experience.  Also please make a note to visit booths #515, #710 and #712 to see demonstrations of early end-to-end solutions these folks have put together. There are two technologies available to regulate power consumption in the recently introduced Nehalem servers using the Intel® Xeon® processor 5500 series.  The first is power proportional computing where power consumption varies in proportion to the processor utilization.  The second is Intel® Dynamic Power Node Manager (DPNM) technology which allows the setting of a target power consumption when a CPU is under load.  The power capping range increases with processor workload.An immediate benefit of the Intel® Dynamic Node Manager (DPNM) technology is the capability to balance and trade off power consumption against performance in deployed Intel Nehalem generation servers.  Nehalem servers have a more aggressive implementation of power proportional computing where idle power consumption can be as small as 50 percent of the power under full load, down from about 70 percent in the prior (Bensley) generation.  Furthermore, the observed power capping range under full load when DPNM is applied can be as large as 100 watts out for a two-socket Nehalem server with the Urbanna baseboard observed in the lab to draw about 300 watts under full load.  The actual numbers you will obtain depend on the server configuration: memory, number of installed hard drives and the number and type of processors.last_img read more

Napoli: ‘Not a punitive retreat’

first_img Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/ Napoli have released a new statement, insisting “the training retreat was constructive and not punitive,” though players and Carlo Ancelotti don’t seem to agree. The club remains in chaos after the squad rebelled against orders to continue the training retreat at the Castelvolturno ground, known in Italy as a ‘ritiro.’ Napoli announced they would take legal action against the squad, which may well include docking their wages, but a new statement was released this evening. “With reference to the news stories that appeared today and over the last few days referring to the first team training retreat, the club is surprised at the way some media outlets erroneously qualified it as a ‘punitive retreat.’ “President De Laurentiis stated on Radio Kiss Kiss on November 4 in very clear and unequivocal fashion: “This is a constructive retreat and not a punitive one.” “A ritiro, an expression summing up the complex mode of training, destined to help the players rediscover their concentration and necessary motivation ahead of two important and delicate matches.” However, the memo doesn’t seem to have reached Ancelotti – who said in a press conference on Monday that he did not agree with the decision to impose a retreat – and the players, who rebelled. Sky Sport Italia suggested the anger also came from the fact President Aurelio De Laurentiis imposed the decision upon them with no warning or explanation.last_img read more

Womens soccer team looks for quick jump in Big Ten standings

For the first time since 1993, the women’s soccer Big Ten championship will not be decided with a post-season tournament. The change, which puts emphasis exclusively on a team’s regular season performance, makes Ohio State’s games at Wisconsin and at Minnesota this weekend all the more important.In the past, the league has had two titles, crowning both a regular season and a tournament champion. Now, the conference championship, as well as an automatic berth to the NCAA tournament, will be decided solely on the regular season standings.The elimination of the league’s post-season tournament has brought a noticeable change to the pressure brought on by each game, coach Lori Walker said. “You’re in an ‘every game matters’ scenario right from the beginning,” Walker said. “In the past, there were a few games where you just stay on task … you could always make that one last push using the tournament, and we don’t have that anymore.”Walker, who has always been a supporter of a conference tournament, said its single-elimination style was valuable practice for her team. The tournament represented a chance, the coach said, for her team to prepare for the pressures of playing in the NCAA championship at the end of the season.Junior midfielder Courtney Jenkins said the pressure is still there, it is just a little different.“Each game is a big game,” Jenkins said. “It’s always a battle, and without having the tournament at the end of the year, you can’t wait until the end to prove yourself.”Coming off of last weekend’s victories, OSU is looking to move up the Big Ten ladder this weekend. They currently sit third in the conference, behind their next two opponents, and begin the road trip Friday night to Madison to face the Badgers. The game is one of three consecutive road games for the Buckeyes. It is their longest stint away from Columbus this season. The biggest struggle of playing on the road comes in the team’s energy level, Walker said.“When you’re playing in the [Jessie Owens Memorial Stadium] and all of your friends and family is there, it can be really easy to elevate your excitement and your passion from the get-go,” Walker said. “When you’re on the road it’s got to come from the inside.”Jenkins said the team is aware of how difficult the weekend will be.“Both Minnesota and Wisconsin are going to be tough,” Jenkins said. “But I think we’ll get some good preparation this week and we’ll be ready for it.” read more

Jim Tressel interviewed for Indianapolis Colts head coaching position

Former Ohio State football coach Jim Tressel has interviewed for the Indianapolis Colts’ head coaching job and will learn next week if he is hired, according to multiple reports. Colts owner Jim Irsay has reportedly met to discuss the position twice with Tressel, who served as a game-day consultant for the team this past season. From his Twitter account, @JimIrsay, Irsay tweeted Saturday at about 11 a.m.: “The #1 pick debate will rage on,what a great year to have it..the HC search is wide ranging n thorough,decision by mid 2 late next week.” The Colts did not immediately respond to The Lantern‘s request for comment regarding the team’s head coaching position. Tressel opted to postpone his term of employment with the Colts until Week 7 of the NFL season due to concerns about current and former OSU players who were suspended in both the NFL and NCAA. In Tressel’s final game coaching the Buckeyes, he led the team to a 31-26 victory against Arkansas in the 2011 Sugar Bowl in the Louisiana Superdome. That game, along with the entire 2010 season, was later vacated by OSU as part of its self-imposed penalties for violating NCAA policies. Tressel resigned from his post with the Buckeyes on May 30. This past season, the Colts posted an NFL-worst 2-14 record. read more

Buckeye Brief Slowing down Keita BatesDiop and more notes from Ohio States

Ohio State redshirt junior forward Keita Bates-Diop (33) takes a 3 pointer in the first half of the game against Maryland on Jan. 11 in the Schottenstein Center. Ohio State won 91-69. Credit: Jack Westerheide | Photo EditorNo. 13 Ohio State (18-4, 9-0 Big Ten) is exactly halfway through its conference schedule with nine games won and nine games remaining. It narrowly edged out Nebraska Monday, 64-59, in its closest conference game of the season. Here are some notes from the postgame press conference. Keita Bates-Diop finding production despite tighter defensive coverageThe cat is out of the bag: redshirt junior Keita Bates-Diop is one of the best players in college basketball. The 6-foot-7 forward averages 19.7 points and 8.8 rebounds per game, shooting 50.5 percent from the field and 36.6 percent from the 3.Earlier in the year, teams played man-to-man against Bates-Diop. It allowed him to easily drive and to shoot high-percentage shots inside or catch wide-open passes from beyond the arc and knock home 3s. But teams have started to press more often in their coverage of him, double-teaming him to prevent him from having those open looks. His current four-game stretch has seen him average his lowest point rate (16.8) since he averaged 15 points per game from Nov. 19-26. The added defensive pressure has made it more challenging for Bates-Diop to find open lanes to drive to the basket. But against Nebraska, he said he was able to stay moving and would eventually find open space without the ball before catching a pass and making a play.“So I started slipping screens and just moving around a little bit more, cutting a little bit more off the ball and all my teammates found me,” Bates-Diop said Monday. “It was mostly just layups to the basket.”He had been off to a slow start, making only 2-of-5 shots from the field and struggling to find open shooting chances given the coverage. Ohio State head coach Chris Holtmann said he typically does not have to say much to Bates-Diop when he goes into a bit of a lull and that it is always just a matter of time until his star forward starts putting up points.“I just told him I’d like for you to score a lot more and go get 14 really quickly here,” Holtmann joked. “He’s getting a lot of attention. He missed some open shots, but he made some huge plays for us. And I thought our guys did a nice job finding him in the post late too.”Four games in eight daysWhen the Buckeyes went to the locker room after the game Monday night, they finally had a chance to really catch their breath. They had just wrapped up their fourth game in eight days with the first three coming on the road. “I definitely am a little fatigued,” senior forward Jae’Sean Tate said. “I mean you know that’s just the cards we were dealt. Especially this season with the tournament being moved up, it’s a little tougher. But I think as a team, we’re doing a great job. The coaches are focusing more on film and recovery.”Holtmann said the team did not discuss any change in approach to the four-game stretch, but that the players have worked additionally with strength and conditioning coach Quadrian Banks to avoid getting too worn down.He also said he wanted three of his starters — junior guard C.J. Jackson, Bates-Diop and Tate, who played 37, 37 and 33 minutes, respectively — to get more rest given how much they had played during that stretch. However, given how close Monday’s matchup wound up being, he was unable to rest his starters as much as he would have liked.“We’re going to continue to trust and use our bench,” Holtmann said. “We played seven guys over 20 minutes, which is kind of normal. But we need to continue obviously for Thursday. We need to probably utilize our bench even more if we can.”Andre Wesson and Andrew Dakich providing much-needed reliefPart of those bench players who have helped to provide key relief for starters have been sophomore forward Andre Wesson and redshirt senior guard Andrew Dakich. Wesson, who lost time over the summer due to an undisclosed injury, has worked his way back and has taken the role of the top bench forward. Over the past five games, he has averaged 21.8 minutes per game.Though he has only averaged 2.8 points per game over that stretch, the players and coaches have raved about his passing and defense being valuable coming off the bench. “Sometimes you guys may not see things that don’t show up on stat sheets, but he’s being a great defender,” Tate said. “He’s getting his hands on deflections, he’s boxing out his man, making sure they don’t get the ball, but also keeping balls alive.”Like Wesson, Dakich has not been the most productive scoring guard, averaging just 3.8 points per game over his past five games — with an average of 22.4 minutes per game. Unlike Wesson, he lacks the size to guard taller forwards attempting jump shots. He also lacks game-changing speed, but Holtmann said the 6-foot guard makes up for it with his awareness.“What he lacks in athleticism — and let’s be honest, he lacks athleticism — he makes up for it so much in his IQ and his ability to connect his teammates,” Holtmann said. “I did not realize he’d be this solid for us defensively. They tried to ice him tonight and people shot over at times, but he’s hard to get around.”Up NextOhio State will try to extend its unbeaten streak in the Big Ten to 10 games when it hosts Penn State at 8 p.m. Thursday in the Schottenstein Center. read more

Mikel Arteta is set for a new Manchester City contract

first_imgHaving completely lost out in the Arsenal job that was perceived to be his, given how far down the line discussions had progressed for him to replace Wenger, Mikel Arteta is now set for a new Manchester City contract.City manager Pep Guardiola and chairman Khaldoon Al-Mubarak quickly reached out last night to give Arteta an offer after news broke about the Gunners settling on appointing Unai Emery according to DailymailUk.The offer for a new two-year extension to remain as part of Guardiola’s backroom team will at least, melt the heavy disappointment Arteta’s went through yesterday.norwich city, manchester city, premier leagueReport: City are stunned by Norwich George Patchias – September 14, 2019 Manchester City was stunned by Norwich City in todays Premier League clash.Much has been made in recent days of the potential impact of Aymeric…However, Arsenal, are on the verge of unveiling former Paris Saint-Germain boss Emery as their new boss. The 46-year-old Spaniard has been in London for talks with the club’s top executives, who were hugely impressed with his plans for the club if he were to succeed Arsene Wenger. Emery previously conquered at Sevilla, where he won European cups consecutively, before going on to seal a domestic treble with PSG last season.Although Arteta was believed to have hesitated about taking the job because of decision-making about transfers, Emery had no such misgivings.last_img read more

Tah reacts to Germany World Cup snub

first_imgGermany defender Jonathan Tah admits that Joachim Low’s decision to not include him in the final 23-man squad for Germany has been hard for him to accept, but he has wished his teammates the best for the World CupThe 22-year-old joins fellow young star Leroy Sane in being omitted from Germany’s World Cup.Bayern Munich defenders Jérôme Boateng, Mats Hummels, Niklas Süle and Joshua Kimmich were selected over Tah.The Bayer Leverkusen player made his debut for Die Mannschaft in March 2016 in a friendly against England, but has only earned two more caps since and has frequently been used in the youth teams instead.Tah, who is widely regarded as the successor to Jérôme Boateng in Germany, nevertheless took the disappointing news well.Top 5 Bundesliga players to watch during the weekend Tomás Pavel Ibarra Meda – September 11, 2019 With the international activity cooling down for the next month, we go back to the Bundesliga’s Top 5 players to watch next weekend.The German…“Of course it’s hard for me & I’m disappointed not to go. The World Cup is a dream for every footballer. I still enjoyed every second of the training camp & I just take the positives with me! I wish you all a great tournament !! Get the title back” he wrote on Twitter.Natürlich ist es hart für mich & ich bin enttäuscht, nicht mit zu fahren. Die WM ist für jeden Fussballer ein Traum. Habe trotzdem jede Sekunde im Camp genossen & nehme nur das Positive mit! wünsche allen von Herzen ein super Turnier!! Holt den Titel wieder nach D???????? pic.twitter.com/FEEEbXfPcj— Jonathan Tah (@jonatah) June 5, 2018Tah joins his Leverkusen teammate Bernd Leno on the omission list for Germany.last_img read more

Schalke director defends clubs transfer activity

first_imgSchalke 04 sporting director Christian Heidel insists their summer transfer activity cannot be held culpable for the club’s poor start to the seasonLast season’s Bundesliga runners-up total expenditure in the summer came to €52,7m after signing the likes of Sebastian Rudy, Suat Serdar and Omar Mascarell.However, Schalke have only managed two wins in their opening nine league games and find themselves 15th and just one place above the relegation play-off spot.But Heidel is adamant that the new recruits were money well spent.Jadon SanchoMerson believes Arsenal should sign Sancho Manuel R. Medina – September 14, 2019 Borussia Dortmund winger Jadon Sancho might be the perfect player to play for the Gunners, according to former England international Paul Merson.“Before the season, we were praised to the skies for our new signings. The assessment in the media and the public opinion change rapidly,” Heidel told Ruhr Nachrichten.“16 out of the 18 Bundesliga clubs probably wanted to sign Omar Mascarell, Mark Uth and Salif Sané in the summer. We are convinced that our team is stronger than last season.”Although Schalke did claim a rare win on Wednesday after beating 1.FC Köln 6-5 in a penalty shoot-out following their 1-1 draw in the DFB-Pokal Cup.last_img read more