Ebony Park HEART Academy Launches Agro-Tourism Project AgricultureMarch 10, 2010 RelatedEbony Park HEART Academy Launches Agro-Tourism Project Advertisements FacebookTwitterWhatsAppEmail The Clarendon-based Ebony Park HEART Academy on Friday (March 5) unveiled its agro eco-tourism project, which is a combination of nature and farm-related activities to attract locals and visitors to the island.The launch was held during Farm Fest 2010, which is Ebony Park’s annual agricultural show.Through the project, visitors are encouraged to experience agricultural life firsthand and participate in activities such as horseback riding, nature trail, fishing, animal petting, bird watching, and a variety of outdoor activities.Chief Technical Director in the Ministry of Agriculture and Fisheries, Dr. Marc Panton, commended Ebony Park for undertaking the project, noting that agro eco-tourism ventures hold “huge potential” for Jamaica.“We are uniquely poised to utilise our natural resources to increase the income of our farmers, communities and by extension our economy. As a government, we must do more to explore these untapped resources to the betterment of both the agriculture and tourism sectors,” he stated.“We should not only aim to (provide) visitors with enriching, enjoyable and exciting visiting experiences at our luxurious hotels, but in areas that are distinctly and authentically Jamaican. This experience is available through the avenue of agro-tourism,” he added.Governor-General, His Excellency The Most Hon. Sir Patrick Allen, commended the staff and students involved in the project, noting that it will attract locals and overseas visitors, who are interested in the blend of agriculture and nature tourism activities.In the meantime, he called on the students of Ebony Pak to use the training offered at the institution to help develop the country’s agricultural industry and enhance food security.“Young people.you can glean inspiration. (on) how you can contribute through agriculture, which is indispensable to the growth and development of this country. We cannot grow and develop properly if we cannot feed ourselves. We must feed ourselves,” he stated.Farm Fest 2010, which was held under the theme: ‘Creating Pathways For Sustainable Development,’ showcased the best of farm produce and agricultural production practices at the institution.Patrons enjoyed a farmers market, farm tours, live demonstrations of farm practices, fishing, horseback riding, and a kiddies’ corner.Ebony Park HEART Academy is a residential institution for agricultural training, offering specialised skills in areas such as crop and livestock production, horticulture, aquaculture, apiary, food preservation and management, and farm equipment servicing and operations. RelatedEbony Park HEART Academy Launches Agro-Tourism Project RelatedEbony Park HEART Academy Launches Agro-Tourism Project
RelatedGovernment Extends US$1.7M PRIDE Jamaica Programme Government Extends US$1.7M PRIDE Jamaica Programme CommerceApril 8, 2013 RelatedGovernment Extends US$1.7M PRIDE Jamaica Programme RelatedGovernment Extends US$1.7M PRIDE Jamaica Programme FacebookTwitterWhatsAppEmail The Government of Jamaica has signed a letter of intent with the United States Agency for International Development (USAID), for the extension of the PRIDE Jamaica Programme, which is expected to bring about continued improvement in the tax administration system. The Promote, Renew, Invigorate, Develop, and Energize (PRIDE) Jamaica project, which is being funded at a cost of US$1.7 million, is in its second phase, and is expected to continue until March 2015. Under the initiative, the USAID will provide technical assistance to the Tax Administration Jamaica (TAJ), and other stakeholders to simplify and broaden the tax base in Jamaica. This will be done by improving tax administration, streamlining processes to make it easier and simpler for taxpayers to comply, and harmonising tax policy and legislation. Speaking at the signing ceremony held at the Ministry of Finance and Planning in Kingston, on April 5, Financial Secretary at the Ministry, Devon Rowe, said the Government is pleased to continue its partnership with the USAID. He noted that the partnership is a demonstration of the Ministry of Finance’s commitment to tax reform and also in ensuring that the gains, which have been achieved so far, are consolidated. “It is important that some of the issues that are being covered under the programme relate to risk management and improved auditing in the TAJ. And given the limited resources that the departments have, it’s important for us to utilise those resources as strategically as possible,” he stated. Mr. Rowe further pointed out that the fact that the programme has produced so many benefits to date, including the implementation of new mechanisms at the TAJ, augurs well for the future. For her part, Mission Director, USAID, Denise Herbol, said the programme highlights the commitment of the Jamaican government to ensuring that the work that is being done by Pride Jamaica to support efforts at the TAJ and Customs can continue. “I am very gratified that there is a commitment to continuing this programme, because I believe in and I know (the Ministry of Finance) believes in it,” she stated. The project, which started in 2010, also aims to provide support to the Government in its efforts to enhance the business environment by improving regulatory efficiency and increasing domestic revenue mobilisation through tax and customs reform. Expected results include: the identification of tens of millions of dollars in additional domestic revenue per annum; improved tax and customs compliance; increased number of audit cases closed; strengthened institutional capacity at TAJ and the Jamaica Customs Department; leveraging of additional resources from donors for tax administration reform; and improved transparency in customs, trade, and revenue collection. Contact: Athaliah Reynolds-Baker Advertisements
HomeBriefsNew Report shows UCLA student voter turnout tripled between 2014 and 2018 Oct. 14, 2019 at 5:35 amBriefsCollegeNewsStudentsNew Report shows UCLA student voter turnout tripled between 2014 and 2018Guest Author2 years agoArielle RommCenter for Community LearningDemocracy & Higher EducationDouglas BarreraEmma BarudiJonathan M. Tisch CollegeMark PetersonNSLVETufts Universityturnoutucla Student turnout at UCLA increased by more than 300% between 2014 and 2018, according to a report by The National Study of Learning, Voting and Engagement (NSLVE). NSLVE is a project of the Institute for Democracy & Higher Education at the Jonathan M. Tisch College of Civic Life at Tufts University.In attendance were Arielle Romm, volunteer with the New Voters Project, Douglas Barrera, Associate Director of the Center for Community Learning, Mark Peterson, Professor of Public Policy, Political Science and Law, and Emma Barudi, a representative of the External Vice President and UCLA Vote Coalition BruinsVote.“When students know when and how to vote, they turn out to the polls,” said Sithara Menon, third year, New Voters Project Coordinator in 2018 and chapter chair of CALPIRG Students. “That’s why we worked to make sure that every student on campus had the opportunity to register to vote and knew how to vote come election day.”CALPIRG Students helped 6,000 students register to vote in 2018 and made more than half a million text, phone, and face-to-face reminders to help students find their polling place and turn out to the polls. “We believe that the full participation of young people in the political process is pivotal to a truly representative democracy,” said Arielle Romm, first year volunteer with the New Voters Project. “It’s our future, so let’s vote on it.”Nationally, the Institute of Democracy and Higher Education found that college and universitystudent turnout more than doubled between 2014 and 2018 with 40% of eligible students votingversus 19% in 2014. The percentage increase in turnout on colleges and universities across the country was significantly higher than the turnout for all Americans. “Among UC campuses, UCLA has been and plans to continue to be the leader in promoting student voter registration and voting,” said Karen Hedges, Deputy Director of Campus Life. “UCLA’s BruinsVote Coalition and CALPIRG worked with staff to lead efforts to make voting easier on campus through convenient online voter registration and a centralized polling location on campus. It is partnerships like these, between staff, students, and faculty, which lead to increased voter registration and voter turnout. We will continue this upward trajectory into the 2020 election season!”Student leaders are working with the broad vote coalition on campus, BruinsVote, to build off of their 2018 work. Campus and community members interested in joining the BruinsVote Coalition should contact Elisa Chang at [email protected]“Presidential elections have historically had higher turnouts than the midterms,” said Elisa Chang, New Voters Project Coordinator, “The student turnout in 2020 is going to be huge and we need to make sure that our schools are ready.”Submitted by Elisa Chang, New Voters Project CoordinatorTags :Arielle RommCenter for Community LearningDemocracy & Higher EducationDouglas BarreraEmma BarudiJonathan M. Tisch CollegeMark PetersonNSLVETufts Universityturnoutuclashare on Facebookshare on Twitteradd a commentMusic Of Harry Partch At Santa Monica Public LibraryArchaeology Day at Santa Monica Mountains Visitor Center at King Gillette Ranch on October 19 from 10 to 3 p.m.You Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall7 hours agoBriefsCalifornia State Treasurer Fiona Ma to Speak at Online Santa Monica College Commencement Ceremony June 25Guest Author11 hours agoBriefsLos Angeles Sheriff’s deputy accused of destroying evidence of 2019 assaultAssociated Press11 hours agoNewsCouncil picks new City ManagerBrennon Dixson18 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter18 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor18 hours ago
Home BlackBerry rejected break-up, new CEO on $88M deal – report Tags Author Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including… Read more AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 11 NOV 2013 The BlackBerry board decided against a break-up even though the likes of Apple and Microsoft tempted it with offers, according to Reuters.The company has turned down bidders interested in acquiring parts of its business because it did not believe such a move would be in its wider interests, which it defines as including employees, customers and suppliers.Apple and Microsoft have both expressed interest in acquiring patents from BlackBerry, said sources.Discussions have also gone on with others including Cisco, Google and Lenovo about selling all or parts of the company.Instead of a sale, the BlackBerry board opted last week for a cash injection of $1 billion from leading investor Fairfax Financial and other backers. However, it was initially expected that Fairfax was going to make a firm offer to buy the company outright.At the same time, it was announced that CEO Thorsten Heins is being replaced on an interim basis by John Chen (pictured), former chairman and CEO of Sybase.More details have emerged about Chen’s remuneration. According to a regulatory filing by BlackBerry the incoming acting chief executive and executive chairman will have a basic salary of $1 million a year, plus a bonus of up to $2 million.However, he has also been granted 13 million restricted shares which are worth about $85 million and will vest over the next five years. Hence, his total package is worth $88 million.The filing gives a breakdown of which investment firms Fairtax has got on board for its $1 billion cash injection.In addition to the $250 million Fairfax is providing, Canada’s Canso Investment Counsel is the leading backer with $300 million. Mackenzie Financial put up $200 million, Qatar Holding and Markel have each provided $100 million, and Brookfield will contribute $50 million.BlackBerry felt issuing convertible notes offered more certainty than a break-up which carried more risks. In a break-up, some businesses would have been closed, creating liabilities, for instance with suppliers, which would have eaten into the proceeds from selling its patents.Also, many of BlackBerry’s assets are so intertwined that breaking them up would have undermined value.Finally, any deal with a foreign company would have run into a lengthy review by the Canadian government, an issue which reportedly scuppered Chinese vendor Lenovo’s chances of striking a deal. Blog: Will BlackBerry mark-3 strike the right key? Related Richard Handford Blog BlackBerry sells smartphone IP to Huawei BlackBerry vende patentes sobre tecnología de smartphones a Huawei Previous ArticleOrange, Visa to offer national prepaid NFC payments in France in 2014Next ArticleEricsson: Mobile subs to hit 9.3B by 2019, 60% smartphones BlackBerryFinancialPeople
SCOTTSDALE, Ariz. – Two of the biggest stars in golf. One of the game’s biggest stages. Well-oiled fans who couldn’t have rooted harder. The second round of the Waste Management Phoenix Open had everything you could ask for … but it could’ve been even better. The featured group of Jordan Spieth and Rickie Fowler (and Jon Rahm) led huge crowds around TPC Scottsdale on Friday. The players seemed to feed off each other and the gallery as they worked their way up the leaderboard at an event where each of the previous three winners had been three or more shots back entering the weekend. That’s good news for the duo who are three shots (Fowler) and six shots (Spieth) off the lead after leaving plenty of shots out there, especially on the greens. Fowler made four birdies and a bogey in his 3-under 68, but he missed a makeable eagle try at 13 and birdie putts at 14, 15 and 16. “I have played some good golf the last two days,” Fowler said. “But I’m going to have to play better over the next two days if I want a chance of winning.” Spieth matched him with a 68 of his own, going out in a blistering 31, then adding two more birdies on 11 and 13; but he lipped out a birdie try on 12, made a bogey on 14, didn’t cash in birdie putts on 15 and 17 and made an ugly double bogey on 18 when he found the water off the tee. Waste Management Phoenix Open: Articles, photos and videos “I hit some good putts at the end that just missed. Kind of second-guessed a couple of reads,” Spieth said. “I have just been looking for that groove putting, and it’s almost there. Feels like it’s close.” No offense to Rahm, who did get some hometown Arizona State support, but Spieth and Fowler are superstars – likeable superstars – and the fans let them hear it the whole day. This wasn’t the Ryder Cup where fan support was on one side or another, and at times over the top. Everyone wanted to see these guys go low, and Spieth and Fowler did their best to oblige as they chatted their way down one fairway after another. For the most part, the patrons were respectful. One dude offered Spieth a beer. He declined. Some fans were nice enough to concede putts, yelling “good-good!” at the twosome. One guy yelled, “TCU runs the BIG 12, brother!” as Spieth, a Texas Longhorn, walked by. And that was all before they got to the famed 16th, which has gotten rowdier by the day. When the announcer told the stadium crowd to quiet down before Fowler’s tee shot, he turned and pumped his arms, getting everyone on their feet and screaming. “I’m definitely comfortable on this golf course,” Fowler said. “I think out of any Tour event I’ve played the most here … and it’s fun playing in front of loud crowds.” It’s fair to say the spring-break buddies enjoyed their time Friday as they made their stroll around the golf course. If they start dropping a few more putts over the weekend, things could get downright delightful. “The way I feel over the ball, I’m very confident,” Spieth said. “I know as well as anybody that once a couple start going in, they start pouring in.” For everyone in attendance this weekend at TPC Scottsdale, let’s hope that happens.
Homepage BannerNews Harps come back to win in Waterford Facebook DL Debate – 24/05/21 Twitter Google+ Pinterest Journey home will be easier – Paul Hegarty By admin – February 18, 2017 Google+ Planning permission for a new state of the art primary school has been granted for Schoil Iosagain in Buncrana.The new facility is to house 600 – 700 pupils with a number of mainstream classes for children with severe and profound learning disabilities.The current school building is among the oldest campuses in Ireland and has been deemed inadequate for some time.Plans for the new school were first announced in 2011 with efforts made since to get the green light.Local Councillor Rena Donaghey says it’s important now to get the project underway:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2017/02/renadonweb.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp Twitter Important message for people attending LUH’s INR clinic RELATED ARTICLESMORE FROM AUTHOR Pinterest Planning permission granted for Schoil Iosagain, Buncrana WhatsApp Facebook Previous articleAnnual Arts Grants Scheme now open to applicantsNext articleBorder protests due to get underway this morning admin News, Sport and Obituaries on Monday May 24th Arranmore progress and potential flagged as population grows
Twitter Fire blazing on hills in Redcastle this evening By News Highland – March 26, 2017 Facebook Twitter Google+ Harps come back to win in Waterford News, Sport and Obituaries on Monday May 24th Hills are ablaze in Redcastle this Sunday evening.The fires, pictured by Enda Craig, are on the Ballyargus Hills.We understand that there are no homes in the immediate areas but that one of the fires is located close Lough Fad which is the primary water source for East Inishowen.The fire service is on the scene of the fire.It is not yet determined if the fire started accidentally or was started deliberately. WhatsApp Pinterest Pinterest WhatsApp Google+ Homepage BannerNews Facebook Previous articleDonegal Reaction: Rory Gallagher and Michael MurphyNext articlePublic meetings in Raphoe and Ardara to discuss Ulster Bank closures News Highland Journey home will be easier – Paul Hegarty DL Debate – 24/05/21 RELATED ARTICLESMORE FROM AUTHOR Important message for people attending LUH’s INR clinic Arranmore progress and potential flagged as population grows
Subscribe by Email Print This Post Share on Facebook Long-range attack propels McQuaid past Wilson By Paul Gotham on February 2, 2016No Comment Add to Google+ Follow on Facebook Connect on Linked in Anthony Iglesia scored 17 off the bench as McQuaid defeated Wilson, 70-63 in RCAC action, Tuesday night.By PAUL GOTHAMROCHESTER, N.Y. — The McQuaid Jesuit Knights may boast one of the biggest front courts in the Section Five basketball, but it was their guard play which provided the spark on Tuesday night.Mark Dipasquale and Anthony Iglesia came off the bench and keyed a 23-10 second quarter as McQuaid went on to a 70-63 victory over the the Wilson Wildcats in RCAC action.The guard tandem combined for 17 points including five three-pointers in the stanza“Those two guards off the bench was a huge boost for an offense that was struggling a little bit, McQuaid coach Jack Leasure said. “That was big time.”Iglesia took an inside-out feed from Thomas Jones and drilled his first of five triples on the night to give McQuaid its first lead of the quarter at 18-16.DiPasquale followed with a floater in the lane and trey of his own on the next trip down the floor. Iglesia took over from there drilling 3-pointers in two of the next three possessions. Brendan Broderick pushed the lead to double digits with a steal and layup. McQuaid led 31-20 and took a 34-24 advantage into the locker room at halftime.The outcome was the same, but the script read differently. On January 20th when these teams last met, Wilson switched to man-to-man defense in the second half and erased a double-digit lead before falling by five, 62-57. Tuesday the Wildcats played man for the entire game.“They had some success with it last game,” Leasure noted. “We planned for that today. We came out a little slow. We were a little stagnant. Last game we didn’t play that fast.”The Knights were able to create movement and cuts off screens to get better looks at the basket.“We played well,” Leasure added. “When we got to doing that in this game, that’s when we had success. That was encouraging.”“We didn’t play zone well the first game against them,” Wilson head coach Brendan O’Toole said. “Whole second half we played man, and that’s when we played well. We thought let’s just open in man. We’ve been playing man a little bit recently. It’s been pretty good for us, so we thought ‘let’s just do it.’ Even with the size advantage We thought that man would be our best option.”McQuaid eventually pushed the lead to 15 when Broderick scored back-to-back baskets. The 5’9″ guard took an inside-out pass from Isaiah Stewart and connected from behind the arc. Dipasquale fed him two possessions later for another basket and a 46-31 McQuaid lead with 2:43 to go in the third quarter.As is often the case though with Wilson, the Wildcats made a run late in the game.“They’re very good,” Leasure said. “They’re a scrappy team. They play hard. They hang with everybody. They make every game tough.”Trailing by 11 at the end of the third, Donovan Campbell connected on back-to-back triples to cut the lead to five. Campbell’s second 3-pointer came on a set play out of a timeout. Wilson ran a high one-four set. Campbell took a handoff from Earl English and connected near the top of the arc.“When we got good movement, I thought we got good looks,” O’Toole stated.McQuaid pushed the lead back to 10 when Stewart used an up and under move in the post for a 57-47 lead.Campbell connected again from long range. Patrick Phillips converted a rebound and putback. Wilson trailed by five at 66-61 with 22.4 but could not get any closer.“We just keep playing hard,” O’Toole said noting the tone set by Campbell, English and Phillips. “We’re never out of a game because of how hard we play.”“First half we had three mental breakdowns defensively and gave up their threes,” O’Toole noted. “We had one in the second half. Four of the threes they his were just mental breakdowns, defensively. It’s not us getting hit by screens or anything, and that really hurt.”Iglesia finished with 17 points for McQuaid (11-4). Stewart added 11 including a pair of baskets where the 6-7 freshman grabbed defensive rebounds and went end-to-end for dunks. Stewart grabbed 11 rebounds and handed out four assists.Jones, a 6-4 sophomore, scored 16. Broderick had 12 and Dipasquale five.Cam Wilson recorded a double-double. The 6-9 junior grabbed 11 rebounds and blocked 11 shots.“Coming here we knew this was going to be a tough one, and the kids played well, played well at the right time,” Leasuere said. “We haven’t been playing that great in late-game situations, end of quarters things like that. We worked on that. It translated I thought today.”English scored seven of his game-high 19 as Wilson (8-9) grabbed an early six-point edge. The junior forward hit a pull-up three to start the Wildcats. After Robert Davis connected on a floater outside the lane, English grabbed a defensive rebound and went the length of the floor for a layup. English made it a 9-6 game when he scored in the lane. Robert Davis made it a 14-8 game with a layup.Wilson led 14-11 after the first quarter.Campbell had 16 for Wilson. Robert Davis scored 15. Ricky Gamble hit three 3’s for nine points. Brendan Broderick, Jack Leasure, Rochester, Section Five Long-range attack propels McQuaid past Wilson added by Paul Gotham on February 2, 2016View all posts by Paul Gotham →FacebookTwitter分享by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksSponsor ContentBig Data Courses | Search AdOnline Big Data Courses Might Be Better than You ThinkBig Data Courses | Search AdCosmoWomensTop 30 Most Beautiful Women in the WorldCosmoWomensLovely&HealthyTop 10 Most Dangerous Cruises In The World Lovely&Healthyby Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksMore from Pickin’ SplintersBaron keeps Bonaventure close to his heart – Pickin’ Splinters”If you had a Mount Rushmore of MCC baseball, he’s on there.” Longtime assistant Jack Christensen passes away – Pickin’ SplintersFormer Tribune Vennaro signs with Milwaukee – Pickin’ Splinters Leave a Reply Cancel ReplyYour email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed.
One observer suggested that the seemingly high prices attached to Toll and APL Logistics might actually mask other factors that are structured in the deals – such as the terms of transitional services agreements (TSAs), whereby the sellers continue provide infrastructure support such as accounting, IT, and HR after the transaction closes.TSAs are common in situations where the buyer does not have the management or systems in place to absorb the acquisition, and are highly likely to have been arranged in both deals, given the huge difference in culture which will continue to exist for some time and the protracted integration process that is expected to come with both companies being subsumed into their new Japanese parents.“My strong suspicion is that the sellers in these cases have got themselves some very favourable transitional services agreements,” said the source.However, he also added that last week’s news could also indicated that major M&A activity in the international logistics sector could be on the cusp of ceasing, following last week’s developments.“The Japanese are long-term thinkers; it is very common for them to be working to 25-year plans, but it is also the case that the driving force in Japanese companies looking abroad is that there is just no growth in the domestic economy, and nor has there been for a number of years“Frankly it is one of the most boring economies around and they have to look abroad for growth.“However, the Japanese haven’t traditionally been the snappiest of buyers; in more than one market I have seen them buy at the absolute peak in terms of valuations, it’s almost as it they a contra-indicator – when they start buying it is a sign that the best deals have already gone,” he said.That assertion has been given some credence by recent research into logistics executives’ current attitudes to M&A activity.Robert Lieb, professor of supply chain management at Northeastern University in Boston, has conducted an annual survey of senior executives at the world’s leading 3PLs for the past 20 years, taking their pulse on a number of issues.Unlike almost every other year, when executives would predict a growth in M&A activity, he said this year’s survey was characterised by the opposite.“Whereas in previous years, business leaders have almost always predicted significant M&A activity, either at their company or in the industry, this year everybody was predicting that it wouldn’t take place,” he said. He added that the research pointed to three key factors.“Firstly, the executives said they weren’t convinced that M&A made sense anymore – based on past experience they said they simply didn’t believe that they got enough “bang for their buck”; secondly, they said that the integration process post-acquisition was ‘a nightmare’; and thirdly, it was becoming increasingly difficult to find attractive acquisition partners, and those that are for sale are generally overpriced.“Also, a lot of the major companies believe that they now have the scale they need and don’t believe that further M&A activity will really help them,” he said.Meanwhile, new research from Airline Cargo Management magazine, due to published next month, showed that fewer executives in the air cargo sector believe that more future growth will come from acquisitions in 2015 than ever before – the same survey in 2013 found that 7% respondents believed growth would come from acquisitions, while this year just 1% believed that.Rumours continue to circulate the industry of a variety of well-established companies that are up for sale or already into negotiations; establishing how well founded those murmurs are is increasingly difficult. Questions are being raised on company valuations in the industry after two large merger and acquisition (M&A) deals were announced last week.In both Japan Post’s $5.1bn takeover of Australia’s Toll Group and Kintetsu World Express’s $1.2bn purchase of APL Logistics from its Singapore parent NOL, the price-to-earnings multiple suddenly jumped around 50% in the space of a week.This left some to ask whether the industry had entered a new era of valuations.Both deals saw a price-to-earnings multiple of 15, compared with a recent industry average of a just under 10 times – which begs the obvious question: have logistics companies suddenly become more valuable, or are the two Japanese firms paying over the odds? By Gavin van Marle 23/02/2015
Despite a drastic tightening of air freight capacity globally, Panalpina believes it has enough capacity for its customers.The continuing operation of its controlled air freight charter network has come under criticism from investors and analysts alike in recent years as demand for air freight remained weak in the aftermath of the global financial crisis.This year has been very different, however, and Panalpina executives clearly feel vindicated to have signed a five-year wet-lease deal with Atlas Air in early 2015.Chief executive Stefan Karlen told The Loadstar its previous commitment to maintain this network had put it in a good position for securing capacity in 2018. “Capacity is king, and we have been very proactive. Air freight has seen its strongest peak season since 2008 and we are managing to fulfil our customers’ demands.”Stefan KarlenDuring this year, on top of its regular 1,000 scheduled chart flights in partnership with Atlas Air and other strategic partners, the company has flown another 100 scheduled charters, plus numerous ad hoc charters during peak season, driven largely by the technology, automotive and retail sectors.“We have our loyal partners with which we have worked over the years, and when it comes to securing both charter capacity and block space agreements, we have been able to leverage this,” he said.And such has been the strength of the air freight forwarding division that it has not needed to look at other sources of cargo to fill this capacity.“We have not invited other forwarders to co-load with us because we have been able to meet our commitments ourselves.”He did confirm, however, that there were issues with congestion further down the supply chain, especially in Europe’s overland transport system at major gateways.“The whole system in Europe has come under pressure and getting labour to handle the volume peaks remains an issue; there are certain pressures because of the increased demand.”The company also says it will continue to look for acquisition opportunities, although these are expected to be of the bolt-on type rather than transformative. For example, Mr Karlen ruled out mitigating European transport issues by buying a road transport operator.“We are not going to invest in a road feeder network – the question we are asking ourselves is how we can make better use of existing road transport suppliers and networks?“The opportunities we are looking at are in line with a clear strategy to grow in certain verticals. We will continue to look at perishable operations; we strongly believe in developing a worldwide perishables network. And there are certain geographic markets where we have a smaller footprint than we would like.”A newly published financial analysis on Panalpina from Transport Intelligence concludes that its focus on the perishables business is one of the company’s strongest points.“Focus on the perishables sector and especially the end-to-end supply chain comes at a time when many developing markets are looking to expand their global market share. Working with governments and industries in Africa or Latin America, for example, could provide a profitable and growing revenue stream,” it says.It notes that Panalpina’s goal of completing its perishables network by 2020 is underpinned by its air charter network, as well as providing base volumes for further scaling up that network.“The company does not exclude further acquisitions in areas that complement its services, provide access to additional capabilities and competencies, or that accelerate growth in undeveloped areas,” it adds.“Panalpina will also continue its emphasis on controlling costs and centralising functions as well as a long-term strategy to expand and optimise its air freight network.” By Gavin van Marle 08/12/2017