AMHERST, N.Y. — Uni-Select USA was recently honored for its outstanding contribution to Alfred State College’s Automotive Trades Program at the School of Applied Technology in Wellsville, N.Y., recently. AdvertisementClick Here to Read MoreAdvertisement The President’s Medallion, which is awarded to individuals who have made outstanding contributions to Alfred State College, was awarded to Uni-Select executive Al Mosher. Mosher is an Alfred State College Class of 1973 graduate and division stores manager for Uni-Select USA. He is the partnership manager responsible for the company’s involvement with Alfred State College. Alfred State College also presented a plaque to commemorate Uni-Select USA for its outstanding contribution to the college and to the Automotive Trades Program at the School of Applied Technology. The company’s United States headquarters is located in Amherst, New York, approximately two hours from Alfred State College. “Uni-Select USA has a long history of supporting Alfred State College and we believe the partnership between business and education is a true win-win situation,” said James Buzzard, executive vice president, Automotive Group, US, Uni-Select. “There is a strong need for workers in the automotive parts industry and by working closely with Alfred State College we all benefit from the level of skilled graduates who enter the workforce.” The long-term vision of Uni-Select USA is to gain additional industry support for all of the automotive trades programs and to support a new state-of-the-art 5,400 square foot training facility and parts store on the Wellsville campus.,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisement DeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain. With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit. LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement DeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business.
By SHELLY A. WIEMANN, CFP®Founder, Wiemann Wealth Strategies, LLCDuring the last week of February 2020, the S&P 500 lost 11.49% — the worst week for stocks since the 2008 financial crisis — only to jump by 4.6% on the first Monday in March.1By all accounts, the drop was largely driven by ever-increasing fears about the potential effects of the coronavirus (COVID-19) and its ultimate impact on the global economy. Although many market observers contend that the market was overvalued and due for a correction anyway, the unpredictability, strength, and suddenness of the historic tumble was unnerving for even the most seasoned investors. If recent volatility is causing you to consider cashing out of your stock holdings, it may be worthwhile to pause and put recent events into perspective, using history as a guide. A look backSince the turn of the millennium, the market’s negative response to health crises has been relatively short-lived. As this table shows, approximately six months after early reports of a major outbreak, the S&P 500 bounced back by an average of 10.47%. After 12 months, it rebounded by an average of 17.17%. Although there are no guarantees the current situation will follow a similar pattern, it may be reassuring to know that over even longer periods of time, stocks typically regain their upward trajectory, helping long-term investors who hold steady to recoup their temporary losses, catch their breath, and go on to pursue their goals.Epidemic Month end* 6-month performance, S&P 50012-month performance, S&P 500 SARS April 2003 14.59% 20.76% Avian (Bird) flu June 2006 11.66% 18.36% Swine flu (H1N1) April 2009** 18.72% 35.96% MERS May 2013 10.74% 17.96% Ebola March 2014 5.34% 10.44% Measles/Rubeola December 2014 0.20% -0.73% Zika January 2016 12.03% 17.45%. Source: Dow Jones Market Data, as cited on foxbusiness.com, January 27, 2020. Stocks are represented by the Standard & Poor’s 500 price index. Returns reflect the change in price, but not the reinvestment of dividends. The S&P 500 is an unmanaged index that is generally considered to be representative of the U.S. stock market. Returns shown do not reflect taxes, fees, brokerage commissions, or other expenses typically associated with investing. The performance of an unmanaged index is not indicative of the performance of any particular investment. Individuals cannot invest directly in any index. Actual results will vary. *End of month during which early incidents of outbreak were reported. **H1N1 occurred during the financial crisis, when, as during other periods, many different factors influenced stock market performance.What should you do?First, keep in mind that market downturns sometimes offer the chance to pick up potentially solid stocks at value prices, which could position a portfolio well for future growth. Again, there are no guarantees that stocks will perform to anyone’s expectations — and decisions could result in losses including a possible loss in principal — but it may be helpful to remember that some investors use downturns as opportunities to buy stocks that were previously overvalued relative to their perceived earnings potential. Moreover, if you typically invest set amounts into your portfolio at regular intervals — a strategy known as dollar-cost averaging (DCA), which is commonly used in workplace retirement plans and college investment plans — take heart in knowing you’re utilizing a method of investing that helps you behave like the value investors noted above. Through DCA, your investment dollars purchase fewer shares when prices are high, and more shares when prices drop. Essentially, in a down market, you automatically “buy low,” one of the most fundamental investment tenets. Over extended periods of volatility, DCA can result in a lower average cost for your holdings than the investment’s average price over the same time period. Finally and perhaps most important, during trying times like this, it may help to focus less on daily market swings and more on the fundamentals; that is, review your investment objectives and time horizon, and revisit your asset allocation to make sure it’s still appropriate for your needs. Your allocation can shift in unexpected ways due to changes in market cycles, so you may discover the need to rebalance your allocation by selling holdings in one asset class and investing more in another. (Keep in mind that rebalancing in a taxable account can result in income tax consequences.) Questions?After considering the points here, if you still have questions about how changing market dynamics are affecting your portfolio, contact your financial professional. Often a third-party perspective can help alleviate any worries you may still hold.1 Based on data reported in WSJ Market Data Center, February 28, 2020, and March 2, 2020. Performance reflects price change, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Golden Retriever, Wanda, 7, getting rambunctious a while back in the snow. She makes a point of lifting people’s spirits wherever she goes. Her owners are Sue Barns and Steve Koch of Los Alamos. Courtesy photo
Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.
Food pantry at the Heart Of The Hamptons. Independent/Jessica Mackin-CiproMany have already been busy stocking cupboards while self-quarantining amid the COVID-19 pandemic. While preparing for however long the novel coronavirus keeps us inside our homes, let’s not forget that many community members are financially unable to prepare their pantries with anything beyond their immediate needs, if that. Some rely on our local food pantries and other food assistance programs, which need help during this trying time. Bank of America has enabled Long Island Cares to open a new distribution center in Hampton Bays. “I’m very thankful for the generous support,” said Paule Pachter, CEO of Long Island Cares. “The ability for our organization to assist residents on the East End who have been impacted by COVID-19, and subsequent job losses is clearly enhanced at this time. Also, with the opening of our East End warehouse, it will be easier for our member agencies on both the South and North Fork to access emergency food that’s closer to their locations.” The new center, called Hunger Assistance and Humanitarian Center of the Hamptons, brings together all available resources for the benefit of the hungry and food insecure on Long Island. It is open Monday, Wednesday, and Friday from 9 AM to 3 PM, and Tuesday and Thursday from 9 AM to 4:30 PM. Clients are welcomed once per month, and veterans once per week, on Tuesdays. Call 631-613-3344 with any questions, and to donate, visit www.licares.org. “As the world is faced with uncertainty, it is crucial that we come together as people to support one another, to spread hope, and to stay strong for one another,” Long Island Cares said in a Facebook post. “We are Long Island. We are strong. We will get through this.”Heart of the Hamptons The Heart of the Hamptons food pantry in Southampton Village is open Wednesdays, from 10 AM to noon. Non-perishables, produce, and frozen meat will be distributed to clients in pre-packed bags outside the organization’s Hill Street building. Call 631-283-6415 and leave a message with your name and phone number to set up help for someone in need. Messages will be checked periodically. “We continue to order and receive larger quantities of food than usual from our loyal partners,” read a Facebook statement. Hapco Farms, LLC, Astor Distributors Inc., and Long Island Cares all contribute to the Southampton pantry. “We appreciate all of the offers for food donations, however, we are only going to accept food from our distributors for as long as we can afford to do so in the interest of public safety. We cannot thank you enough for your support during this challenging time. We continue to witness the beauty of community and the strong impact we can make together.” Email firstname.lastname@example.org with any additional questions, or visit www.heartofthehamptons.org to donate.Landscape Details in East Hampton helps move pallets of food from Hauppauge-based Long Island Harvest to The East Hampton Food Pantry. Independent/Michael Derrig The East Hampton Food Pantry is safeguarding senior clients by asking if they can arrive at 1 PM, if possible. Delivery can be arranged if seniors are unable to visit to the food pantry by calling 631-324-2300. The pantry is open from 1 to 6 PM every other Tuesday, including April 7 and 21. “We are in dire need of monetary donations in order for the food pantry to continue to serve our clients, due to the increased demand of the food pantry,” the organization said in a Facebook statement. “We will continue to feed those in need throughout this difficult time, as long as we have food.”John Kowalenko, co-owner of Art of Eating, needed help getting pallets of food from Island Harvest in Hauppauge to The East Hampton Food pantry. Kowalenko, a board member, called his friend Michael Derrig, founder of Landscape Details in East Hampton, because he knew the firm had a large fleet of trucks. He said he figured some box trucks could be repurposed as food delivery vehicles.“I knew if I called Michael Derrig he’d come through for me,” Kowalenko said. “He and the firm have always been incredibly generous with our community.”Right now, according to Kowalenko, the need for food on the East End is growing faster than they can keep up with. On Tuesday, a truck helped picked up three pallets of food that will help feed the more than 20,000 children, elderly, and family members who rely upon this resource.“We’re always glad to help out,” Derrig said. “Now more than ever, our community has to stick together, even if we’re social distancing.” The pantry serves Montauk, Amagansett, Springs, East Hampton, Springs, and Wainscott residents. Service will continue every other Tuesday until further notice. Emergencies will be accommodated on Mondays and Tuesdays, but residents are asked to phone ahead if possible. East Hampton Meals on Wheels can be reached at 631-329-1669 for information on its programs. The assistance program cannot accept food donations due to restrictions by the New York State Department of Health. The organization said on Facebook the IGAs in East Hampton and Montauk are supporting it for the month of March. If stopping by either of the stores, patrons can purchase a “wheel” to support Meals on Wheels. “Our priority is to keep our clients and volunteers healthy,” reads a statement on its website. “We have taken all necessary precautions and are following the Centers for Disease Control and Prevention and New York State Department of Health recommendations for everyday preventative actions that can help stop the spread of the flu and coronavirus. We have also taken on new clients due to the closure of the East Hampton Senior Center. If you would like to help, please consider making a donation or volunteering. Thank you for your continued support.” For more information, visit www.ehmealsonwheels.org. email@example.comDesirée Keegan contributed reporting Share
MAN Diesel & Turbo representatives attended the delivery ceremony of the Suezmax tanker ‘Zumbi dos Palmares’ on 20 May, 2013. Powered by an MAN B&W 6S70ME-C type prime mover and 3 × MAN 7L23/30H auxiliary engines, the vessel is the second ship built by Estaleiro Atlantico Sul (EAS) stemming from the Brazilian Government’s PROMEF shipbuilding program.The ceremony took place at the EAS shipyard, in north-eastern Brazil, and was attended by the President of Brazil – Dilma Rouseff, President of Petrobras – Maria das Graças Silva Foster, and President of Transpetro – Sergio Machado.“We are proud to participate in this new chapter of Brazilian shipbuilding history”, said Lincoln de Sousa, Diesel Division director of MAN Diesel & Turbo in Brazil who also attended the ceremony. He continued: “We want to congratulate Transpetro on the successful launch and are confident that our engine will contribute to a successful working life for the new tanker. To this end, we have already trained some of the Zumbi dos Palmares crew on various aspects of the engine’s operation at our MAN Primeserv Academy in Rio de Janeiro.”At the ceremony, Transpetro also announced the reactivation of contracts for 12 ships to be constructed by EAS. The latest newbuilding is one of 10 Suezmax vessels EAS is contracted to produce.Transpetro is Brazil’s largest hydrocarbon transportation company and a fully owned subsidiary of Petrobras, the local energy multinational. Under PROMEF (Program for Modernization and Expansion of the Fleet), Transpetro has ordered a total of 28 ships, all to be equipped with MAN B&W two-stroke prime movers. Each engine has an output of circa 22,000 hp.The Zumbi dos Palmares has a payload of one million barrels of crude oil, equivalent to half of Brazil’s daily production, and will primarily sail long, international routes. Immediately after the ceremony, the tanker started its maiden voyage, departing Atlântico Sul in Suape for the Campos Basin off Rio de Janeiro. Its launching marks the fifth PROMEF vessel in operation, two of which have come from the EAS yard. The other EAS vessel is a sister Suezmax tanker, the ‘João Cândido’, which was delivered in 2010 and is similarly powered by an electronically controlled MAN B&W 6S70ME-C type engine.Zumbi dos Palmares–main dataLength (m) 274.2Moulded breadth (m) 48.0Height (m) 51.6No. Of tanks 12 + 2 cargo tank leftoversSpeed (kn) 14.8Range (miles) 20,000[mappress]MAN Diesel & Turbo, May 29, 2013
Yamal LNG (Image: Novatek)Russia’s Novatek, the developer of the giant Yamal LNG project, signed on Wednesday a cooperation deal with Atomenergomash, a unit of Russian nuclear group Rosatom.Under the memorandum on strategic partnership and cooperation, the two companies plan to join forces in producing equipment, pipelines and high-tonnage LNG modules, including the use of new domestic steel grades in Russia.“One of our strategic priorities is implementing LNG projects with the technological solutions maximizing our LNG production competitiveness,” Leonid Mikhelson, chief executive and co-owner of Novatek said in a statement.“It is of great interest to us to advance the industrial potential and technological capabilities of Russian enterprises, and we are further developing our cooperation in localizing LNG technologies in Russia,” Mikhelson added.
Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Subscribe now for unlimited access To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Get your free guest access SIGN UP TODAY
Chairman of the Philippi Community Police Forum, Ebrahim Abrahams, said all CPF bodies and the provincial police need to unite to combat gangsterism. Police Minister General Bheki Cele was set to meet the with the provincial board on Monday after the Mitchell’s Plain Community Police Forum (CPF) cluster demanded that the police service be placed under administration and called for the protection of CPF members and the broader community. At a media briefing held at the Athlone police station on Wednesday June 26, the heads of the various CPFs within the Mitchell’s Plain police cluster, shared their anger about the ongoing gang war in their areas. Chairwoman of the cluster, Lucinda Evans, said if the minister did not reply to their demands they would arrange a peaceful protest at the provincial police office by Monday July 1. “We are in pain as a cluster. Most of us start our day with gang violence and go to bed with it as well. We as the CPF need protection and so do our communities. We have issues with gang violence which we deem as small-scale terrorism. Our children cannot play or walk outside and cannot even enjoy school holiday programmes. We are not protected. This is complete carnage and war on the Cape Flats,” she said. Ms Evans said it was time the army was deployed to the gang-ridden areas to stabilise them and to protect police officers so that they could protect their communities and the ambulance service as well. She said the South African government and provincial police had no medium- to long-term plan to eradicate gang violence. “We are demanding this for the children of the Western Cape. We don’t want to be lied to anymore. Nothing is being implemented. What is happening to our leadership?” she said. Chairwoman of the Athlone CPF, Aziza Kannemeyer, said gang violence in Bokmakierie had reached “ridiculous” levels and said the area had been a war zone for the past four to five months.She added that gang activity in Bridgetown was also on the increase.“We have shooting here on a weekly basis. Our police are so under-resourced because of the different units (being established), like the Anti-Gang Unit but these positions are not being replaced.”Mitchell’s Plain CPF chairman, Abie Isaacs, said the community was tired of imbizos and wanted action instead. He said the CPF was calling on President Cyril Ramaphosa, to hear their cry and step in by placingthe police force under administration. “The community doesn’t even trust us anymore because we can’t help them or protect them. Our children fear bullets. They can’t even enjoy their school holidays. This is a problem throughout the Cape Flats and a problem within provincial SAPS. They are duplicating units such as the Anti-Gang Unit and in the process using up all our resources, ” he said. Chairperson of the Lentegeur CPF, Byron de Villiers, said the biggest issue in their community was an under-resourced police station. Most nights, he said, there were only three vehicles patrolling the area and only six police officers available to cover the entire precinct. “The resources that are meant to uphold the law are non-existent. If gangsters can run freely in the road with their firearms and hold communities hostage while SAPS stand at a distance and come to write down the amount of dead bodies, then we agree that the defence force must be brought in and let’s give these communities some stability again,” he said. Gavin Walbrug, chairman of the Steenberg CPF, said gang violence in Lavender Hill and Steenberg had reached an uncontrollable level and echoed the call for the army to be brought into the area. He said there were four gangs in the area which had recruited children as young as 14 years old. “Young innocent children are being shot who have no affiliation to gangs.”“The community feeds us constantly with information and when there’s no response we get labelled as working with the police and that is not the case – we are working for our communities. Our people don’t know where to turn anymore. Our appeal is for government to please do something to help us,” he said. Chairman of the Philippi CPF, Ebrahim Abrahams, said 50 to 60 gunshots were being fired in the area daily for the past three months and the community received no help from police except four arrests in the past three months. “As people putting our lives at risk we are asking for protection. We need unity to confront these issues so that we can all share information and be on the same page. If we unite as CPFs and as the provincial police we will get rid of gangsterism,” he said. By the time this edition went to print, it was not clear what had transpired at the meeting scheduled with Mr Cele. Chairman of the Lentegeur Community Police Forum, Byron de Villiers, urged the SAPS to step up and take control of the communities. Chairman of the Philippi Community Police Forum, Ebrahim Abrahams, said all CPF bodies and the provincial police need to unite to combat gangsterism. 1 of 3 Gavin Walbrug, chairman of the Steenberg Community Police Forum, said the army need to be deployed to support police.
Malawian president declares state of disaster in areas affected by floods Zimbabweans make money from President Mnangagwa regalia Talk Africa: President Emmerson Mnangagwa in China Zimbabwean President Emmerson Mnangagwa has declared the impact of Cyclone Idai a state of disaster.More than 30 people are reported to have been killed by the storm, with over 100 others still missing.Areas within the pathway of Cyclone Idai’s weather system include Manicaland, Mashonaland East, Mashonaland Central, Mashonaland West, and parts of Masvingo and Midlands provinces, according to the Metrological Services Department.Chimanimani and Chipinge districts have been hardest-hit, with riverine and flash flooding reported. The town of Chimanimani was reportedly cut off after bridges across Mvumvumvu River (Matsororo and Muusha bridges) along the Mutare-Chimanimani Highway were washed away and other sections of road were blocked by fallen trees and landslides. Power supply in many areas is affected.There are fears that the death toll could rise as the missing persons are accounted for.According to authorities, at least 1,600 households (8,000 to 9,600 people) have been affected in Chimanimani, Chipinge, Nyanga and Mutare districts, Manicaland Province, as a result of flooding and landslides.Vice president Constantino Chiwenga said the government would do all in its powers to manage the unfolding disaster.“The national and sub-national civil protection structures are to undertake the following priority actions; supporting the affected communities by giving urgency to search, rescue and evacuate the marooned and cut off areas; conduct rapid results needs assessment and render relief accordingly; continue monitoring the situation and advise on a comprehensive management strategy to holistically address the disaster,” he said.Related