Come July 8th, Lettuce will hit The Paramount in Huntington, NY for their first-ever headlining performance on Long Island. The premier funkers will have some help for this exciting throwdown, as today it was revealed that The Disco Biscuits bassist Marc Brownstein will be performing an opening set under his DJ moniker, Brownie.The Brownie set will kick things off at 8 PM; Lettuce takes the stage thereafter. While the staging is certainly ripe for collaboration, we’re just excited to see so many great artists under one roof. With Lettuce on a funk tear, there’s no telling just how exciting this party will be.For tickets and more information, you can head here.
Greensky Bluegrass has been on a wonderful run of shows with their friends Fruition! Though the series of shows are winding down, their performance last Thursday, Februrary 9th at the Madison Theater in Covington, Kentucky showed that both bands are clearly enjoying the pairing. The mixture of deep psychedelic bluegrass and remarkably passionate Americana has had fans of both bands raving long after the last notes have faded each night. Though the spate of shows they have delighted fans with across the northeast and mid-west is ending tonight in Chicago, our own Rex Thomson caught up with the band and filmed a bit of the goodness to share with the world.Greensky came out of the gate strong with a nine minute rendition of one of there signature pieces, the apocalyptic “Fixin’ To Ruin.” As always, the soulful voice and plaintive howls of mandolin madman Paul Hoffman soared above the music and connected with the audience on a nearly primal level. Watch the show opener below:“Fixin’ To Ruin”Never a band to play the stoic card, Greensky let loose an impeccable rendition of a song about despicable behavior “Just To Lie” before letting it flow perfectly into the mournful “Past My Prime.” The choice of songs and subject matter made an interesting statement about the perils of pure self interest and the strong chance at the lonely life such actions that could result. Watch the magic below:“Just To Lie > Past My Prime”After a strong first set and a much needed break, Greensky Bluegrass returned to the stage ready and rairing to go. Launching out of the gate with epic momentum the band couldn’t seem to stop as they finished a spot on “No Idea” so they kept flowing into a heartfelt take on The Beatles‘ standard “Help!” Watch the bluegrass freight train leave the station below:“No Idea>Help!”Never ones to forget where the music came from, the boys paid homage to the progenitors of the sound that they have worked so hard to master and carry forward into the new millennium. Recent birthday boy Dave Bruzza takes the lead on the Ralph Stanley tune that he and the Clinch Mountain Boys made into a true standard, “How Mountain Girls Can Love.” Watch the boys show off their love of the past masters below:“How Mountain Girls Can Love”One of the true highlights of the night came when Anders Beck took the microphone to thank longtime friends of the band and beloved fixtures of the mid-west music scene, Burk and Shellie, for their kind gift of pre-show baked goods. While the cake was free from any… extra curriculars… the culinary skills of Shellie are well known and respected by any who have been fortunate enough to sample them. As a way of showing their appreciation the carved twenty plus minutes out of their second set to deliver a spectacular version of Burk’s favorite tune, Tarpology, including a special gooey “More Of Me” filling. Click the video below and get ready for an unavoidable dance party:“Tarpology>More Of Me>Tarpology”There were several highlights not shared here, obviously, but the show closing, 20-minute plus version of “Don’t Lie” must be mentioned. One of the finest tunes the band has given to the world was treated with the respect it deserves, with the sentiment of the Michigan native seemingly more appropriate than ever in today’s anarchic political climate. After a short break, the band sent the audience home on a tranquil note with a lilting “Yellow Eyes” to help them slow back down from the warp speed bluegrass they had just witnessed.Fans like Burk and Shellie who have been following the band for close to a decade and more have had the pleasure of watching their friends grow from playing dive bars for beers to playing in front of dangerously packed throngs of adoring fans. As a testament to the fact that they have stayed the same, humble musicians they were from the beginning the band hung out with fans outside in twenty degree weather, looking both appreciative and slightly embarrassed at the fuss being made over them. With the love continuing to build there seems to be no limit to the future of these five friends and the staff and supporters that surround them, and with their relentless effort over the years they couldn’t deserve the acclaim more!Setlist: Greensky Bluegrass | Madison Theater | Covington, KY | 2/9/17Set 1: Fixing To Ruin, Lose My Way, Radio Blues, While Waiting, Through the Trees, Pig in a Pen, Just to Lie>Past My Prime, Living OverSet 2: No Idea>Help!*, How Mountain Girls Can Love, Tarpology>More Of Me>Tarpology, Take Cover, Old Barns, Wings for Wheels, Don’t LieEncore: Yellow Eyes* Beatles coverPortland, Oregon’s own Fruition started off the night with a fiery display of insightful and heartfelt songwriting and from the heart performance that has made them the darlings of the Americana scene. With a front line of Jay Cobb Anderson, Mimi Naja and Kellen Asebroek sharing the composition and lead duties the band suffers from an overload of quality songs that makes writing set lists a truly difficult proposition each night. In an effort to fairly represent the trio of voices that constitute the band we have one from each of the three main vocalists.First up is the Naja composition “Santa Fe,” an ode to the strugle to keep love alive when the distances grow wide. Be prepared to be moved when you listen to the song below:Keyboard and guitar playing Asebroek takes us through the various stages of romantic behavior with “Above The Line,” below:Though the entire band truly plays a significant part of making the title track of their most recent release, Labor Of Love, the sonic buzz saw that it is, Jay Cobb Anderson and his all in performance on the tune elevates it to one of the finest songs any band produced last year. Have a listen to the friendship defining rabble-rouser below:Between the quality songwriting and the go for broke performances Fruition regularly delivers as they tour the country, their stock is quickly rising among veteran and first time concert goers alike. It is impossible to witness the display of passion and joy put forth by these five friends from the Pacific Northwest and not leave the show humming the melodies and tapping your toes to the beats still rocking in your head and heart. If they come anywhere near your city, do yourself a favor and go see what the quickly spreading love is all about!Setlist: Fruition | Madison Theater | Covington, KY | 2/9/17Set 1: I Don’t Mind, Just One Of Them Nights, Blue Light, The Wanter, Above The Line, Santa Fe, There She Was, Fire, Mountain Annie, Come In, Git In, Labor of Love, Love Sneaking Up on You
Many Harvard students can pinpoint a transformational moment — often a class or professor — that changed their experience at Harvard. For Magdalene “Maggie” Zier ’16, it was a book.Zier discovered that book, Koritha Mitchell’s “Living with Lynching: African American Lynching Plays, Performance, and Citizenship, 1890–1930,” as a sophomore while taking Professor of African and African American Studies and of Studies of Women, Gender, and Sexuality Robin Bernstein’s seminar “African American Theater, Drama, and Performance.” The book is a study of plays on lynching, a topic that proved so powerful and profound that three years later Zier wrote her senior thesis on three of the plays.Magdalene “Maggie” Zier turned her senior thesis about anti-lynching plays into a live performance at Harvard Law School. Jon Chase/Harvard Staff Photographer“It was the intersection of history and literature and theater, and this seemed to connect for me,” said the now 21-year-old Quincy House resident. “They have been discussed a little by scholars, but they deserve more attention as a window into black women’s creative contribution to this important social movement.”The connection was natural for Zier, who arrived at Harvard intending to concentrate in history and literature.“I grew up in Greenwich Village in New York City, and my parents encouraged me to study the humanities,” she said.Being raised in the Big Apple exposed her to Broadway, and though she laughs at her own talents — “I’m a terrible performer” — she transitioned in college to behind-the-scenes roles, working as stage manager, producer, publicist, and costumer on shows such as “Assassins,” “Little Murders,” and “The Pillowman.” She became president of the Harvard-Radcliffe Dramatic Club her junior year.In academics, Zier focused on African-American theater, but the anti-lynching plays, originally created by women to raise awareness and a sense of community among African-Americans living amid the horror, were foremost in her thoughts.With research funding from the Arthur and Elizabeth Schlesinger Library on the History of Women in America, the Charles Warren Center for Studies in American History, and the Harvard College Research Program, she spent the summer before senior year in the library archives at Howard and Emory universities, researching the three plays — Mary Burrill’s “Aftermath” (1919), Georgia Douglas Johnson’s “A Sunday Morning in the South” (1925), and May Miller’s “Nails and Thorns” (1933) — that would become her senior thesis.Last November, before the thesis was completed, she was invited to stage a reading of “A Sunday Morning in the South” at the Harvard Art Museums following a lecture called “The Visual Commons: #BlackLivesMatter” given by New York University Professor Nicholas Mirzoeff.“Many people said they didn’t realize [the play] was from 1925. They thought it was 2015. The themes are so eerily relevant they couldn’t pinpoint when it was from,” said Zier, who was recently awarded a Hoopes Prize from the College as well as History and Literature’s Oliver-Dabney Award and the Department of African and African American Studies’ Elizabeth Maguire Memorial Prize.The museum performance whet her appetite to continue to stage the plays, and Zier reached out to the Charles Hamilton Houston Institute for Race and Justice at Harvard Law School (HLS), where Managing Director David J. Harris was eager to incorporate art into social justice programming.“It was an easy sell for us,” said Harris. “That these plays were written by women, and the fact that women today are leading so many social movements, especially in communities of color — lots was compelling.”Tapping her connections at the American Repertory Theater (A.R.T.), Zier brought in Shira Milikowsky, the A.R.T.’s artistic associate, to collaborate with the institute, and her thesis adviser, Timothy McCarthy, history and literature professor and program director at the Carr Center for Human Rights Policy, which co-sponsored the event.“There is a mandate across the University to collaborate, but it’s hard to get it done. This undergraduate goes out and arranges a meeting with the Law School and A.R.T. and [the Faculty of Arts and Sciences],” said Harris. “The amount of research she did, running around in pursuit of this project, shows a remarkable amount of determination. She exemplifies the absolute best of undergraduate education at Harvard.”Held in the Ames Courtroom last month, the performance, “Plays That Don’t Play: The Drama of Lynching” featured the three plays performed by 14 students from the College, HLS, and the Harvard Graduate School of Education, as well as one student from Northeastern University. It was an evening (followed by a panel discussion the next day) that Harris described as “unbelievably powerful.”“Everyone was riveted,” he said. “For a lot of people, Michael Brown’s body wasting on the street for four hours in the heat was evocative of lynching. These plays are terribly resonant.”Zier, who will work as a W.E.B. Du Bois Public Policy Fellow at the National Association for the Advancement of Colored People’s Baltimore headquarters this summer, said the enthusiastic audience response is a testament to the power of theater to address material that is both historic and relevant in today’s society.“To see them read aloud after all this time was moving. They’ve been pretty much left off stage,” she said. “I was trying to understand why playwriting would be the weapon of choice. I don’t have an answer, but it continuously intrigued me throughout the process.”
While Saint Mary’s is now well-known for its nursing program and preparation of women leaders, it was once also known for its ability to prepare students to run a home. The College had a major in domestic science — commonly known as home economics — until the mid-1960s, director of donor relations Addie Cashore said in an email. “The program was considered rather advanced for the time,” Cashore said. “Students with a concentration in dietetics or nutrition were required to take several rigorous courses in biology and chemistry in addition to fulfilling laboratory requirements.” ANN CURTIS | The Observer The Riedinger House will be hosting a tea service Tuesday for students to celebrate the College’s 175th anniversary. The Riedinger House was built in 1939 as laboratory space for students in the domestic science department, and now is host to several events for students and alumnae.All seniors majoring in domestic science were required to complete a unique practicum: a nine-week stay in the campus’ Riedinger House, Cashore said. The Riedinger House was built in 1939 through a gift given to the College by Charles Riedinger and his sister, Caroline Riedinger. The gift was donated in honor of Adaline Crowley Riedinger, class of 1864, and her daughter Mary Adeline, class of 1889 — the College’s first mother/daughter legacy, Cashore said. The house was built with the purpose of allowing students to have a practicum experience during College President Emerita Sister Madeleva Wolff’s tenure. Cashore said four students at a time would live in the Riedinger House with a Sister of the Holy Cross, who served as a live-in supervisor.“The students learned home management skills that included budget management, planning and preparing meals, shopping for food, cleaning, sewing and entertaining,” Cashore said. “They practiced their culinary skills on faculty and administrators who were invited to dine on a regular basis.”While there are traditional aspects of the home — three bedrooms, a living room, dining room and kitchen — the Riedinger House was built on a nontraditional seven-eighths scale on the inside. Due to the building costs being higher than expected, budgets cuts had to be made, resulting in the smaller-scale interior. Former College President Jan Cervelli lived in the home for six weeks at the beginning of her term. While the seven-eighths scale might be small to some, Cervelli said her small frame fit in well with the interior of the home. “For someone that’s three-quarter scale anyway, it was delightful,” Cervelli said. “It made me feel at home right off the bat. I could get a real sense for the students who were actually students in that home, what it would have felt like.”Cervelli stayed in the home with her dog, Pearl, while waiting for her purchase of a home in South Bend to close. While Saint Mary’s is quieter in the summer, Cervelli said she felt staying on campus allowed her to understand the College’s culture better. “It was summer, so it wasn’t so busy with a lot of people, but there was enough traffic that I kind of got a feel for the pulse of the day and the evening,” Cervelli said.Cervelli said she feels the ability to live in the Riedinger House enabled her to have an experience that not many College presidents have anymore. Although Cervelli did stay in dorms throughout her time as president, she did not get another chance to stay in the Riedinger House before her resignation. “As far as college campuses are concerned, there aren’t many instances where there is a home kind of in the center of campus, certainly not one where presidents live in the house,” Cervelli said. “I was tempted over the course of my presidency to stay there again because I think it really makes you get the real feel for the campus and the students and being part of that.”Another unique aspect for Cervelli was the Riedinger House’s location in relation to the Sisters of the Holy Cross Convent. Cervelli said this allowed her to also gain an understanding of the relationship between the Sisters of the Holy Cross and Saint Mary’s. “It also kind of sits between the campus and the convent,” Cervelli said. “I definitely got a feel for the power of the convent and the Sisters and the relationship and the history. Being able to look out onto the convent, so that was, I think, a very special thing.”Cervelli was not the only distinguished guest to live in the home — College President Emeritus Monsignor John McGrath lived in the home for almost three years during his time as president with two other priests and his dog, Cashore said. In addition to the housing of College presidents, the Riedinger Home is also the location of on-campus Alumnae Board meetings as well as occasional events for students.Cervelli said after her stay at the Riedinger House, she advocated for its increased usage in campus events because she saw the benefits of visiting the house. “That really convinced me that it’s kind of a hidden treasure on the campus and to try to encourage more people to use it, like students to have events and meeting and gatherings,” Cervelli said. There have been several events hosted in the Riedinger House for students. Each year, there is a reading of “Quiet Hours,” a book written by Saint Mary’s alumnae about the ghost stories they have heard on campus. There are also teas hosted in the home periodically, with the next happening Tuesday from 4 p.m. to 6 p.m. in honor of the 175th anniversary of the College. Tags: 175 years of SMC, gift, Jan Cervelli, Riedinger House
104SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Mansel Guerry Mansel Guerry is President and CEO of CU24, operator of the country’s largest credit union-owned POS and surcharge-free ATM networks, and also provides a range of other services to … Web: www.cu24.com Details If you are a credit union decision maker, at some point you may have utilized the services of a CUSO. For that matter, your credit union may have an ownership investment in a CUSO. Lately, however, it seems that some credit unions have lost sight of the importance of CUSOs. Large third-party, for-profit vendors have started to dominate the credit union market space, representing themselves as big-name, technology leaders offering their cutting edge enticing services. At the same time, credit unions have begun to regard CUSOs as simply another vendor vying for the privilege to sell their wares. It’s times like these that call for a reminder of why CUSOs exist.To be clear, no one should expect a credit union to do business with a CUSO just because it is a CUSO. To be of benefit to the credit union, the CUSO must offer a quality, competitive service at a competitive price that, in turn, helps the credit union compete and add value to its members’ lives. That said, CUSOs, just like credit unions, have a hard time competing against the larger behemoths of the financial services world that have larger scale and deeper pockets, and can afford to buy the business of their customers. But it would behoove credit unions to stop a moment and understand that there is a cost involved whenever anyone attempts to buy their business. Nothing is free. No company, especially a large for profit, publicly traded vendor, gives away anything that it doesn’t expect to gain back.Consider, too, that while vendors may offer some select attractive services to credit unions, very often those same vendors depend on a diversified business model with only a portion of their resources and efforts focused on (and concerned about) the growth and viability of credit unions. Conversely, in the CUSO world, as the credit unions go, so goes the CUSO. The very survival of the CUSO depends on the success of the credit unions they serve. In essence, the CUSO is “all in”, completely committed to the future of the credit union movement. It is their reason for being. To all of us in the credit union community, this is a commitment to a movement and a philosophy that is worth more than money.But of more importance, credit unions should consider the immense practical and ideological benefits of utilizing CUSOs. Think beyond the sale. As a practical matter, even large credit unions are generally smaller players in the customer portfolios of large publicly traded vendors. Once the sale is made, the sales representative disappears into the saleosphere, not to be heard from again until contract renewal time. It’s hard to get attention on your issues when you’re among the smaller fish in the pond. Whereas for CUSO’s, their entire business model is based on service to credit unions. You’re important to a CUSO. You’re the reason the CUSO exists – hardly just another customer.. CUSOs epitomize the same cooperative spirit that credit unions are built upon by enabling a group of credit unions to accomplish, together, something that individual credit unions could not accomplish alone. CUSOs foster cooperative reliance within the credit union community. Together we make the whole movement stronger, complete, more independent. CUSOs feed on the experience of their credit union members, resulting in better products and services that are responsive to the specific needs of credit unions. The organic development of innovative technologies helps to ensure the long-term viability of the credit union movement.So, if you find yourself evaluating your credit union’s vendor relationships and comparing one service provider to another, look beyond the simple price that you pay for those services. Take a deeper look into the service provider’s commitment to not just you and your credit union, but to the entire credit union movement. If you’re looking at a CUSO, you won’t have to dig too deep to find an encouraging answer.
McNally said: “I’m emotional after winning that. We hoped he could do that, but whether he could do it over fences or not was another thing as he’s only a pony.“Going around the paddock against those big horses, he was dwarfed. I walked the track early, I went down to the last and then to the open ditch and thought ‘am I wise doing what I’m doing’?“Paul was majestic on him and the horse was unbelievable. We’re so proud of him to jump around there the way he did.”- Advertisement – – Advertisement – Fit from a recent spell on the Flat – including a victory on his latest outing at York last month – The Jam Man was a heavily supported 5-2 favourite for his shrewd connections, and ultimately got the job done with the minimum of fuss.With champion jockey Paul Townend in the saddle, the seven-year-old was settled towards the rear for much of the three-mile contest before making smooth headway before the home turn.The Jam Man cruised to the front in the straight and pulled right away between the final two fences – passing the winning line 18 lengths clear of Roaring Bull, with Scoir Mear and Discordantly third and fourth respectively.- Advertisement – The Jam Man made the most of a lenient mark over fences with a wide-margin victory in the Ladbrokes Troytown Chase at Navan.Ronan McNally’s charge has a rating of 143 over hurdles following seven victories, but returned to the larger obstacles for the first time since winning at Cartmel in June of last year a stone lower in the weights.- Advertisement – McNally is enjoying an excellent campaign, having also trained both The Trigger and Dreal Deal to win five races in a row since July, and the trainer is keen to pay tribute to his young son Kian, or ‘Tubbs’ as he is affectionately known.He added: “It’s a pity for ‘Tubbs’, who is at home. It would have been unbelievable if he was here as he does a lot of work with him at home. It’s a pity he’s not able to share it with us.“We’ve had a great run of it, but we put a lot of work into it and a lot of money into it. I think we deserve the success we get, the horses are treated brilliantly and they are are rewarding us for the care we give them.”On future plans for The Jam Man, McNally said: “I could see him going back to England now. There is a Grade Three (hurdle race) at Haydock and a Grade One at Ascot.“We’ve unfinished business from last year as that wasn’t his run in the Stayers’ Hurdle at Cheltenham (finished ninth). He had aspergillus when he ran in that and I’d love to go back and have another crack.“I’m not saying he’s good enough for a Grade One, but I’d love to go back and give him a chance when he’s healthy and see how he goes.“I don’t think he’s scopey enough to be a Grade One horse over fences. Paul said there if he hadn’t been well handicapped over fences and he had to go looking for big jumps towards the end, you could have been in trouble.”Townend had earlier produced N’Golo with a well-time late run to claim the Grade Three For Auction Novice Hurdle for Willie Mullins.Despite having won two of his three previous starts over obstacles for the champion trainer, the grey was a 9-1 shot for his latest assignment, but finished with a flourish to score by a length and a half from Annexation.Hot favourite Eskylane was only fifth.“It worked out for us. The tongue-tie probably helped on that ground,” said Townend.“I think he’s stepped up today, to carry the penalty, and it was a nice performance out of him.“He could go further, definitely, and even today we thought in that grade, two miles might be sharp enough for him.”There was a thrilling climax to the opening Ladbrokes Giving Extra Places Every Day Maiden Hurdle, with Noel Meade’s 6-4 shot Joshua Webb edging out even-money favourite Grangeclare Native by a head under Sean Flanagan.The stewards called an inquiry after the pair came close together in the closing stages, but the placings remained unaltered.Meade said: “I’d say he’s a nice horse. He’ll go on for a novice now and we’ll see what way the handicapper rates him.”
To drive in and drop off a passenger is to be impeded by the parking lot attendant. (The one blocking my way this morning sported an attitude.)Having made the drop, there is no easy way to get back out.Two things are clear: The traffic planning for the new station was and remains sadly lacking — no surprise given the Bodyshop Bonanza traffic circle up by the casino (among other local stupidities). Whoever took the cumshaw that resulted in this screwup should be hounded from office.Donald JennerScotia Dems squandering new state majorityIn January of this year, the Democrats received the privilege of leading New Yorkers with their dream, having majorities in the Assembly and the Senate to work with the Democratic governor.So far, they have covered our beloved state with a cloud of darkness that is making New Yorkers and many other Americans sick and horrified.The abortion expansion bill offends more consciences than it does not offend. Categories: Letters to the Editor, OpinionNo easy way to get to new train stationSchenectady has a lovely new train station, one that reflects its long and substantial history with railroads. Sadly, the care that the station shows is not at all evident in the way one gets to it.There are two access points, on Erie Boulevard and on Liberty Street. But only the Liberty Street access is open. That access is throttled by the city’s parking lot company. The idea that you can murder a baby by hurting his pregnant mom and not be charged for a crime against that baby is just sick.The idea that a baby surviving an abortion can be killed on the table is beyond cruel.This abortion expansion bill is causing many New Yorkers and many Americans to reconsider the whole idea abortion as nothing more than infanticide with a fancy name.Space prohibits me to note the other bills that lack any sense of morality and the bills that keep New Yorkers paying some of the most ridiculously high taxes in the nation. What a sad way to squander the gift of the majorities that were entrusted to you.Joe RoofSchenectady State, bishop must resolve St. Clare’sHow much more can the former employees of St. Clare’s Hospital be beaten down?Another slap in the face is what we just got and they keep coming. Not only did we find out recently that the state rejected a request for monies from the budget to assist with our pension crisis, we also found out that St. Clare’s Corp. formally filed a petition to dissolve.Oh wait, one more thing: The corporation had a remaining balance of nearly $52,000 and decided to give it to Catholic Charities, which is part of the Diocese of Albany, “to be used exclusively as a pensioner relief fund for the benefit of St. Clare’s retirees.” We’ll see.How can our highest-ranking state elected officials and the bishop of Albany live with themselves? None of them seem to care that there are 1,100-plus futures at risk here.We had a meeting almost two months ago with local state officials and the bishop. The state officials did their part and requested monies from the state budget be allocated to assist us with our pension. As noted, it was denied. The bishop said he would be looking into other financial avenues to support us, including the Mother Cabrini fund, but we haven’t heard a peep from him since.The former employees of St. Clare’s Hospital are doing everything they can to turn this disaster around.I guess I don’t understand why or how the governor, comptroller, Bishop Scharfenberger and others are looking the other way.Kathy AdachRotterdamMore from The Daily Gazette:EDITORIAL: Beware of voter intimidationEDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Find a way to get family members into nursing homesCuomo calls for clarity on administering vaccineFoss: Should main downtown branch of the Schenectady County Public Library reopen?
As JR Central prepares for a stock market listing in October, President Yoshiyuki Kasai tells Murray Hughes that the Chuo Shinkansen superconducting maglev line will only be built as a strategic national project,WHEN THE Great Hanshin earthquake struck the Kobe region of Japan on January 17 1995, services on the Tokaido and Sanyo Shinkansen were badly disrupted. While JR Central’s Tokaido Shinkansen did not suffer serious damage to its structures, services were affected because of the disruption to through operation on the Sanyo Shinkansen. One result was serious disruption to the government’s plans to list both JR West and JR Central on the Tokyo stock market. While JR West has now passed that milestone (p307), JR Central is the last of the three JR companies on Honshu to remain state-owned.When I asked JR Central President Yoshiyuki Kasai how far preparations had progressed towards privatisation, it was clear that a firm timetable has been set: ‘We believe that we shall be listed in October’, he said. ‘We have top priority among all the government corporations to be moved into the private sector.’ Kasai felt ‘that the stock market in Tokyo will not improve, but I understand that listing will take place as scheduled.’Kasai had no regrets about being third in the queue of the mainland JR companies. ‘It is very fortunate that the others were ahead of us – they have experienced big fluctuations in the stock market, and we are lucky we don’t have that problem.’Kasai said that listing would not produce great advantages to his company: ‘any profit that we could make would all be used to pay off the debts of the former national railway through JNR Settlement Corp.’ But he felt that there would be some positive benefits: ‘we can prove to the general public that JR Central is sound and healthy in terms of its management foundations, that we are sound enough to be listed. Generally speaking, there will be a financial improvement, but JR Central is so well known that it will be hard to improve our reputation.’Maglev plansWhile preparations move ahead for the transfer to the private sector, Kasai has under his control what is arguably Japan’s most ambitious infrastructure project – the superconducting maglev line that he believes will one day form the Chuo Shinkansen over the inland route between Tokyo and Osaka.Kasai expects to receive confirmation that magnetic levitation is technically feasible as a passenger-carrying mode in 1999. Assuming that the engineers at the Yamanashi test site (p299) agree, I asked Kasai what the likely cost of the Chuo Shinkansen would be if it were built as a maglev line, and how that would compare with the price of a conventional steel-wheel steel-rail shinkansen.’The construction cost of the experimental maglev line is a kind of development cost’, said Kasai. ‘It is slightly higher than the cost of building an experimental steel-wheel shinkansen line, but we expect that the price of building a line for commercial operation will fall as development progresses. There are significant benefits in operating at the speed of 500 km/h, and in terms of maintenance we believe that maglev has advantages because of its non-contact nature. The steel-wheel steel-rail railway has reached a state of near perfection, so I do not think that a major breakthrough is possible.’Kasai said that ‘with the Nozomi and Series 500 we can of course make improvements in peripheral technologies, but a real breakthrough can only come through novel technology. So we believe it is important to use our resources to allow the budding of new technologies which will grow, flower and bear fruit in the 21st century.’Kasai believes that the Chuo Shinkansen is ‘strategically important – if we rely solely on the Tokaido Shinkansen, which is an essential tool of the Japanese economy, it remains highly vulnerable, as proved by the Great Hanshin earthquake.’Pointing out that ‘the Tokaido Shinkansen cost about ´400bn to build’ (at the time of construction), and that ‘revenue has covered costs from the earliest days’, Kasai describes the line as ‘unprecedentedly profitable’, but warns that ‘all the benefits and profit we can enjoy are used up repaying JNR’s debt’ – currently ´5500bn.Kasai suggests that JR Central’s managerial freedom in constructing the Chuo Shinkansen will be minimal. Warning that completion of the route ‘would not generate a dramatic rise in the number of passengers for JR Central’, he says ‘supply capacity will increase, so there will be little internal benefit – the Chuo Shinkansen cannot be a profit centre for JR Central.’ This is why he believes the line ‘should be constructed based on national economic perspectives as a national project.’Kasai says that ‘half the passengers now using the Tokaido Shinkansen will transfer to the Chuo Shinkansen, and they will represent two-thirds of all the Chuo Shinkansen traffic.’ He feels it is vital that ‘both corridors need to be managed together in such a way that both are in black figures.’So there is no question of making construction of the Chuo Shinkansen a commercial proposition in strict profit terms? ‘That’s right’, said Kasai. ‘When we look at the world’s infrastructure – airports, ports, highways – there are no profitable infrastructure investments so far apart from the Tokaido Shinkansen. They are all national projects.’If the Chuo project was being treated as one of national importance, had a target date been set for the line to be built? ‘No’, came the reply, ‘construction would depend on future economic growth, budget constraints and the decision-making capability of a future government. Although the project is important for national economic security, my understanding is that we are not in a very favourable state at the moment.’Kasai cited the history of the Tokaido Shinkansen. It was approved by the Diet in 1939, and construction work continued until 1942 before the war caused it to be abandoned. ‘Work resumed in 1959, and because so much was done pre-war, the line took less than five years to complete. A major project may take 10 to 20 years to plan, another 10 to build, and 20 to 30 more years may be needed to recover the cost. So we have to have a long-term perspective for railway projects – and I cannot give you a precise answer.’I asked Kasai when the remaining 25 km of the experimental Yamanashi test guideway would be completed. He believed that ‘confirmation of the practicality of using maglev for regular operation can be obtained on the 18·4 km priority section, but the remaining 25 km is necessary for long-term endurance tests, and a decision to build it will be made after considering the results of the experiments on the priority section.’ CAPTION: The 18·4 km priority section of the 42·8 km experimental maglev line in Yamanashi prefecture has been completed. Kasai says that the remaining 25 km will be needed for long-term endurance tests, and a decision to build it ‘will be made in consideration of the results of the experiments on the priority section’CAPTION: JR Central President Yoshiyuki Kasai with Railway Gazette International Editor Murray Hughes after a test ride on the Series 300XCAPTION: Experience gained with JR Central’s record-holding 300X experimental train will be translated into the design of the future Series 700 units. A Series 100 set passes the test train at MaibaraChuo Shinkansen sera un ‘projet national’Alors que JR Central se prépare à être coté en bourse en octobre, le Président, Yoshiyuki Kasai, explique à Murray Hughes que la ligne supraconductrice à sustentation magnétique Chuo Shinkansen sera construite un jour comme un projet stratégique national, apportant avec elle la sécurité économique d’une artère de transport autre que le Tokaido Shinkansen entre Tokyo et Osaka. Kasai pense que tous les essais nécessaires pour confirmer la faisabilité technique du projet peuvent être effectués sur le tronçon prioritaire de 18·4 km de la voie expérimentale dans la préfecture de YamanashiChuo Shinkansen wird ein ‘staatliches Projekt’ seinNun, da JR Central die Zulassung an der B?€?rse im Oktober vorbereitet, teilt Präsident Yoshiyuki Kasai Murray Hughes mit, daß die Chuo Shinkansen als Magnetbahn eines Tages als ein strategisches staatliches Projekt gebaut wird, das zur Tokaido Shinkansen die wirtschaftliche Sicherheit einer alternativen Verkehrsader zwischen Tokio und Osaka gewährleisten soll. Kasai ist der Ansicht, daß alle notwendigen Tests zur Erstellung der technischen Machbarkeit auf dem bereits fertiggestellten 18·4 km langen Abschnitt der Versuchsstrecke in der Yamanashi-Präfektur durchgeführt werden k?€?nnenChuo Shinkansen ser? un ‘proyecto nacional’JR Central se prepara para su salida a la bolsa en Octubre. Su presidente Yoshiyuki Kasai conversa con Murray Hughes sobre la línea de superconducción por levitación magnética Chuo Shinkansen, la cual ser? construida como proyecto nacional estratégico, suministrando la seguridad económica que proporciona gozar de una segunda arteria de transporte alternativa al Tokaido Shinkansen entre Tokyo y Osaka. Kasai cree que todas las pruebas necesarias para confirmer la viabilidad técnica del proyecto se podr? n realizar en la sección prioritaria de 18·4 km ya completada de la vía experimental en la prefactura de Yamanashi
Philippou noted that the severity of the breach was compounded by taking place over a period of “considerable” market stress.During the period of the rule breaches, BNYMLB and BNYMIL — the third and eighth biggest custody banks in the UK respectively — held up to £1.3trln and £236bn in safe custody assets, the regulator said.“As a result of this, the firms are systemically important to the UK market,” Philippou said.In a statement, BNY Mellon noted that its fine had been lowered due to its “cooperative efforts”, and that the sum would be met from pre-existing legal reserves.”Importantly, BNY Mellon remained financially robust throughout the relevant period and, as indicated by the FCA in its Final Notice, no clients suffered any loss as a result of the issues identified.”The firm said it regretted that it had failed to meet its own or the FCA’s standards, and that it had conducted an independent review and amended its policies.BNY Mellon was one of six appointed to a national custodian framework agreement launched by a number of UK local government pension schemes in 2013.The FCA said the firms had failed to comply with its Client Assets Sourcebook (Custody Rules, or CASS).The rules are meant to protect safe custody assets if a firm becomes insolvent, making sure the assets can be given back to clients as quickly and easily as possible, the regulator said.Instead of keeping entity-specific record and accounts for the client safe custody assets they held, as required, the FCA said the firms used global platforms to manage the money, which did not record with which BNY Mellon Group entity clients had contracted.The firms also failed to stop safe custody assets being commingled with firm assets from 13 proprietary accounts, and occasionally used safe custody assets held in omnibus account to settle other clients’ deals without getting proper permission from all parties.“Other firms with responsibility for client assets should take this as a further warning that there is no excuse for failing to safeguard client assets and to ensure their own processes comply with our rules,” Philippou said. The Financial Conduct Authority (FCA) in the UK has fined custodian Bank of New York Mellon (BNY Mellon) £126m (€175.4m) for failing to follow rules meant to keep client money safe over a six-year period.The fine applied to the London Branch (BNYLB) and Bank of New York Mellon International (BNYMIL). The Bank of New York Mellon Group, to which the firms belong, is the world’s largest global custody bank by safe custody assets, the regulator said.Georgina Philippou, acting director of enforcement and market oversight at the FCA, said: “The firms’ failure to comply with our rules including their failure to adequately record, reconcile and protect safe custody assets was particularly serious given the systemically important nature of the firms and the fact that safeguarding assets is core to their business.”If the subsidiaries had become insolvent, the total value of safe custody assets at risk would have been significant, she said.
Stuff.co.nz 10 February 2014Authorities are warning elderly people to be on guard against “caregivers” ripping them off.A rise in the number of lonely and sick elderly Kiwis being cared for in their own homes has laid fertile ground for financial abusers posing as caregivers, cleaners or gardeners, elder specialists Age Concern say.Increasingly, caregivers were being paid to care for the elderly at home and “because they spend a lot of time with these people, they become like companions and then the door is open for grooming”, family lawyer Patricia Wardill said. “It’s like a breach of trust really, because the elderly person tends to transfer their affections on to the person who is paying them attention.”National Age Concern figures show reported referrals of financial elder abuse almost doubled from 1100 in the 2010/11 financial year to about 2000 in 2012/13. Financial elder abuse was usually committed by family members, with about 75 per cent of reported cases being linked to relatives, Age Concern Canterbury chief executive Simon Templeton said.However, with more elderly people being cared for at home by strangers, Age Concern was aware of a trend of predatory financial abuse by non-family members.“That could be people grooming the elderly for money, getting put into their will or moving in with them and using their finances to fund their own lives,” he said. “It happens a lot.http://www.stuff.co.nz/dominion-post/news/9702379/Elder-abuse-increasingly-over-money