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    UAE Exchange opens its 11th branch in Bahrain

    Friday, May 18th, 2012

    Published May 17th, 2012 – 09:12 GMTPress Release

    Customers in Bahrain have yet another door of convenience opened for them. UAE Exchange, the leading global remittance and foreign exchange brand, inaugurates its 11th branch in Bahrain. The new branch, located on Exhibition Road, is the new link that strengthens the network further.

    “More branches mean more convenience to our customers. The opening of the new branch is in line with our vision of being the trusted neighbourhood remittance brand, which our customers will find near them, always.”, said Mr. Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange. “This constant network building activity reflects our penchant to reach out to more customers. It is a drive that we have taken up across all our operations, worldwide.”, added Mr. Sudhir Shetty.

    Bahrain operations were initiated in 2008. Since then UAE Exchange has been constantly growing by garnering the trust of customers. The remittance major has gathered a wide range of services under one roof, which addresses most of the financial requirements of its customers including money transfer, foreign exchange, bill payments and more.

    “We are extremely delighted to add one more branch to our strong network.”, said Mr. Deepak Nair, Country Head, UAE Exchange – Bahrain. “Bringing convenience to customers has always been a priority to us. This customer-centric approach has made us the favourite of customers, across the country. We dedicate this new branch to the service of our esteemed customers, who have always supported and encouraged us to deliver the best.”, added Mr. Nair.

    Xpress Money, the instant money transfer service with over 135,000 payout locations in more than 125 countries; FLASHremit, the real-time bank account credit service; Money2anywhere.com, the convenient online money transfer portal by which money can be sent to any corner of the world in just a few clicks from an internet environment anywhere, are examples of some of the high quality services offered by UAE Exchange. These services along with a wide range of bill payment options have made UAE Exchange, a financial supermarket of sorts.

    UAE Exchange currently addresses the financial needs of over 3.5 million customers, worldwide. It has built the largest global network, in its class, with over 580 direct offices in 30 countries. The brand also has a strong correspondent relationship with over 150 global banks. 

    © 2011 Al Bawaba (www.albawaba.com)

    Debo Band: Ethiopian Funk On A Muggy Afternoon

    Friday, May 18th, 2012

    Story By: by Michael Katzif

    Compared to a dark club full of dancing fans, a muggy Austin afternoon with the sun peeking out over our isolated spot at Joe’s Crab Shack isn’t the ideal setting for a Debo Band performance. But once the group began digging into “Ney Ney Weleba” — a classic song by Alemayehu Eshete — it didn’t take long to get caught up in Debo Band’s deep, infectious groove.

    Led by Ethiopian-American saxophonist Danny Mekonnen and fronted by magnetic singer Bruck Tesfaye, Debo Band infuses its dance-friendly songs with the Ethiopian pop and funk music of the 1960s and ’70s. But historical accuracy is not a primary goal here.

    Instead, this vibrant 11-member group collects its influences like trading cards: It finds common ground in jazz, classic soul, psychedelic rock and New Orleans party bands, playing with song forms, manipulating rhythms and finding space for improvisation. Plus, the fact that the band is signed to Sub Pop — a label more known for indie-rock and pop — represents something of a statement. Debo Band is a rock group first and foremost, and one that can bring joyful intensity to listeners who might not otherwise naturally gravitate to this music. It’s a winning cross-cultural stew of sounds that grabs you instantly, and ought to have you bobbing along and sweaty in no time.

    Producers: Bob Boilen, Mito Habe-Evans, Saidah Blount; Editor: Michael Katzif; Videographers: Katie Hayes Luke, Michael Katzif, Mito Habe-Evans; Audio Engineer: Kevin Wait; photo by Katie Hayes Luke/NPR

    Avoiding the Equity Crowd-Funding

    Friday, May 18th, 2012

    Crowd-funding.

    It sounds like something out of a rock concert or a march on Washington.

    Actually, it’s a way for small businesses to raise money, and it’s about to get a big boost from Washington.

    Under a bill that passed the U.S. House of Representatives on Tuesday and that’s expected soon to be passed into law, start-ups can raise up to $1 million a year by pitching to thousands of small-dollar investors online with little disclosure beyond a rough business plan. (They can raise up to $2 million if they provide audited financial statements.)

    Some companies are thrilled. But others, including some so-called angel investors, aren’t.

    Currently, start-ups that seek to raise capital on crowd-funding sites are limited to offering only token gifts – such as a mug or T-shirt – in return for contributions. Under this new bill, they can offer equity.

    Investors with incomes or net worth below $100,000 would be restricted to putting up just 5% of their annual income, up to $2,000. The cap for wealthier investors is 10% of their income or net worth, to a maximum of $100,000.

    Private companies, which are currently limited to 500 investors, will be able to take on as many as 2,000 investors before triggering securities regulations.

    Though crowd-funding is designed to ease the process of raising cash for start-ups, some professional early-stage business investors worry that the new rules might boost the costs of capital by making later-stage, and much-larger investments, that much more risky.

    “If you have a whole lot of unsophisticated investors in a business, they aren’t likely to get the valuation right,” says Marianne Hudson, the executive director of the Angel Capital Association, a national trade group of wealthy individuals who invest in start-ups. Assessing the expected value of a new business — before it has a track record of sales or revenue — is a top concern for angels who are considering a deal, she adds.

    Brian Cohen, the chair of the New York Angels, a network of individual investors that has invested $50 million in 70 companies since 2004, also worries about the bill’s impact on the relationship between early-stage investors and entrepreneurs. Mr. Cohen says beyond cash, most start-up investors also provide a valuable network of industry contacts to help a fledgling business get off the ground quickly.

    “Angel investing is a contact sport. You need to know who you’re investing in,” he says. At the same time, he adds, it’s also a contact sport “because you get bloodied,” citing high failure rates and long-delayed exits. Typically, it can take seven to nine years for early-stage investors to see a return on their cash, he says.

    Some entrepreneurs share the concern. In June, Brad Carrick, 36, raised $22,000 on crowd-funding site IndieGoGo.com, to launch Solz Inc., a specialty shoe maker based in San Francisco. Contributors put up as little as $33 each and received a pair of shoes in return. Mr. Carrick says he is reluctant to use crowd-funding to sell equity stakes in his business, of which he now owns 97%.

    “If I had 200 more investors who were all shareholders, no matter how small, I would be really concerned about scaring off angel investors or venture capital investors down the road.”

    Readers, what do you think? Post your comments.

    (This article previously appeared on DealJournal.)

    © 2011 Wall Street Journal (www.wsj.com)

    From Lawyer to Adviser

    Friday, May 18th, 2012

    HONG KONG — Lawyer Brett King recently had a reunion with a U.S. private-equity fund and the Chinese toy maker it took over in 2004.

    Back then, Mr. King drafted financial documents for CCMP Capital Asia’s leveraged acquisition of Sanda Kan Industrial, a maker of model trains. This time, he was advising on restructuring the debt-burdened company, which resulted in a distressed sale to a Hong Kong rival.

    All around Asia, leveraged finance professionals like Mr. King are reinventing themselves as restructuring specialists, a survival strategy amid layoffs and a slowed pipeline of splashy public offerings, mergers and acquisitions. Investment banks and law firms here also are rushing to put together teams for dealing with what bankers are predicting will be a wave of business in the region in the second half of this year.

    “Whenever there’s a downturn, transaction lawyers become restructuring lawyers,” says Mr. King, a lawyer at U.S. firm Paul Hastings’s Hong Kong office.

    Bloomberg News

    Debt holders’ resentment of steps by Asia Aluminum Holdings spilled over toward the company’s adviser. Here, a worker at an Asia Aluminum processing facility in Zhaoqing, China, in 2007

    In the U.S. and Europe, bankruptcy and restructuring specialists tend to focus on those situations for entire careers. But in Asia and some other emerging markets, it isn’t unusual for bankers and lawyers such as Mr. King to wind up unraveling deals they put together, or restructuring debt they previously helped arrange.

    ‘Negotiated Workout’

    Workouts in some important Asian jurisdictions, such as Hong Kong and Singapore, often take place with little direction from the courts, giving finance professionals greater latitude in finding solutions, often behind closed doors.

    “In Asia, it’s is much more a negotiated workout,” Mr. King says. In mainland China, where bankruptcy laws were passed only a couple of years ago, a lack of precedent makes the private discussions between creditors and corporations even more crucial.

    Sometimes, the bankers who worked on deals previously find the investors they dealt with then aren’t too happy to see them in their new roles.

    In February, a closely held Chinese aluminum manufacturer, Asia Aluminum Holdings Ltd.,

    tried to coerce owners of its offshore debt into selling it back to the company at huge discounts. Its offer of as little as 13.5 cents on the dollar spurred an outcry from debt holders. Their resentment spilled over toward the company’s adviser, Sheldon Trainor, a former banker at Merrill Lynch and Morgan Stanley who helped Asia Aluminum issue its debt while at his previous employers. Mr. Trainor declined to comment.

    A Growth Business

    The restructuring business here is expected to continue growing as sharp declines in exports and industrial production hurt corporate earnings, making it difficult for Asian manufacturers to maintain their debt levels.

    Merrill Lynch, a unit of Bank of America Corp.,

    has just replicated in Asia a restructuring team that it already has in place in London and New York. The team — headed by Andrew Cooper, who formerly ran the equity-linked derivatives division — has plucked internally bankers from a variety of areas, such as mergers and acquisitions, leveraged finance and debt capital markets.

    One recent addition came from Merrill’s technology-banking group. Credit woes of Taiwan chip maker ProMOS Technologies Inc., bailed out by the Taiwanese government, have alerted investment bankers to more widespread problems simmering in the sector.

    Many of the team members at Merrill have worked in Asia long enough to have had experience during this region’s 1997-1998 financial crisis. “People in our group tend to have gray hair,” says William Clay, a Merrill restructuring banker who several years ago worked on a restructuring of Korea’s Hynix Semiconductor Inc. while at Bank of America.

    Deutsche Bank

    also has carved out a “task force” to tackle restructuring work in Asia. British law firm Herbert Smith LLP just launched a restructuring practice, hiring a partner from law firm Appleby. “Everyone is looking at how they are staffed up to meet what people hope will be a wave of restructuring work,” says Trevor Clark, partner at the U.K.’s Linklaters LLP in Hong Kong.

    To lock in assignments, bankers say they are busy talking with companies about existing debt loads and whether they will need to tap the markets later this year. Some companies are already trying to head off problems by raising money through rights offerings, which allow current shareholders to purchase additional stock, often at a discount to the market price.

    This year, the Asia-Pacific region, excluding Japan, has seen a greater number of rights issues than any other geographic market globally, according to Thomson Reuters, although those transactions tend to be smaller than in the West. Asia has raised $11.4 billion in rights offerings, placing it by value behind Europe, which raised $21.4 billion so far in 2009.

    Buying Back Debt

    Debt buybacks also are occurring more frequently in Asia, as companies seek to take advantage of depressed bond prices to repay their debt more cheaply.

    One example is Chinese packaging-products company Nine Dragons Paper (Holdings) Ltd., whose chairwoman, Zhang Yin, was once ranked by Forbes as the wealthiest person in China but whose net worth has since fallen sharply along with her company’s stock price. Nine Dragons recently bought back 58% of its debt outstanding from bondholders, who accepted a 47% discount to par.

    Companies also are expressing interest in doing bond exchanges, which might extend the maturity date, giving a borrower more time to repay the principal on a bond. For convertible bonds, an exchange might seek to lower the strike price at which the bonds convert to shares, allowing the company to reduce overall debt.

    Write to Laura Santini at laura.santini@wsj.com

    © 2011 Wall Street Journal (www.wsj.com)

    EPA Awards Over $40,000 to Help Students Understand Marine Mammal Rehabilitation

    Thursday, May 17th, 2012

    Release Date: 05/09/2012Contact Information: Dave Bary or Jennah Durant at 214-665-2200 or r6press@epa.gov

    (DALLAS – May 9, 2012) Promoting environmental education through interactive marine mammal experiences is the goal of the “Dolphin Exploration and Vessel Adventure Program” by the Texas Marine Mammal Stranding Network. This initiative will receive $43,407 to enhance the educational experience for 1,000 students and science teachers in the Greater Houston area.

    The goals of this project are to increase awareness of marine mammals and issues with the local marine environment. This will include education about current marine mammal protection initiatives while encouraging interest in an environmental career. Partners include Baywatch Dolphin Tours and Texas A&M, Galveston.

    More information on the EPA’s environmental education grant program is available at http://www.epa.gov/education/grants.html

    More about activities in EPA Region 6 is available at http://www.epa.gov/aboutepa/region6.html
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    View selected historical press releases from 1970 to 1998 in the EPA History website.

    Published by: United States Environmental Protection Agence (EPA) (yosemite.epa.gov)

    Investors Gird for Dividend-Tax Rise

    Thursday, May 17th, 2012

    Financial advisers and their clients are starting to plan for, if not yet act on, a possible jump in taxes on dividends.

    Dividend-producing stocks have had a special attraction among investors in recent years, in part because of the lower-than-usual tax rates dividends have enjoyed for much of the past decade. Those low rates gained even more luster as the stock market tanked—driving up the dividend yields—while interest rates on savings accounts have been so low. A 2% dividend yield also looks more interesting to investors than it did before U.S. bond yields declined last year and remain near historical lows.

    Increases in taxes on dividends, capital gains and ordinary income all are currently planned, but dividends may be seen one of the biggest changes. Before a series of series of tax cuts launched by then-President George W. Bush in 2003, dividend income was taxed the same as ordinary income. Under the cuts, it was treated like capital gains, with a tax rate that shrank to 15%—the lowest since 1941. That arrangement was to expire in 2010, but was extended then for two more years. In 2013, the top rate on capital gains is set to go to 20%.

    Taxes on dividends, now at 15%, could rise to as high as 39.6% next year—an effective 164% increase for some wealthy people in the highest tax bracket. While lawmakers could change that plan, some advisers say it isn’t too soon to start talking to clients about changes they may need to make to their portfolios.

    An additional 3.8% surtax on dividend income and capital gains could also kick in for some wealthy investors.

    Michael Joyce, a financial planner in Richmond, Va., is working up a list of his clients with a lot of dividend-paying stock and plans to review possible strategies. One could be shifting dividend stocks from taxable to tax-deferred vehicles like individual retirement accounts, he said, while another could be replacing them with municipal bonds.

    Mr. Joyce won’t actually recommend specific moves until later this year. There is too much uncertainty, he said, about whether Congress will keep those tax rates from rising so sharply. Like other advisers, he has to play a guessing game for now.

    Any strategy needs to weigh capital gains carefully if it is to include selling dividend payers, said Eve Kaplan, a fee-only adviser in Berkeley Heights, N.J., who manages $23 million. She said she has already fielded questions from a few clients about a possible rise in dividend taxes.

    It will make less sense to earn dividend income in taxable accounts from 2013 onward, according to Ms. Kaplan, since the tax rate on it will essentially be the same as in a tax-deferred account. And, any move out of dividend-paying stocks in taxable accounts could trigger capital gains.

    One client of Ken Weingarten, an adviser in Lawrenceville, N.J., has a client with that very situation. He said a key to any dividend strategy is how the client will be positioned financially in the future.

    Mr. Weingarten’s client, a high-earning architect in his early 50s with a wife and two children, is saving a lot in a taxable account invested in U.S. and international large-cap stocks. Selling now to get investments into a tax-deferred account would mean some $11,000 of capital-gains tax. It would take around seven years for dividend taxes to equal the capital-gains tax that he would have to pay this year.

    The client’s plan is to retire from his job in just a few years and lead a simpler life. His income will likely drop significantly, and the tax rate on his income, dividends then included, will be much lower.

    So what will Mr. Weingarten advise? Nothing, yet.

    “As the hit song from Asia goes,” Mr. Weingarten says, referring to the rock band, ” ‘only time will tell.’ “

    © 2011 Wall Street Journal (www.wsj.com)

    Classic clues set to be unveiled at three-day Dante Festival

    Thursday, May 17th, 2012

    Dubai: Significant big-race pointers will be on offer as York’s three-day Dante Festival kicks-off today at the Knavesmire, the UK’s former ‘Racecourse of the Year’.

    Godolphin’s unbeaten Mandaean figures in the Group Two Dante Stakes tomorrow, as he bids to lay down his credentials for the Epsom Derby which is less than two weeks away. The stable last won the race in 1995 with Lammtarra.

    The Dante is an important trial for England’s most famous horse race having thrown up nine horses that have won the 2,400m contest en route to achieving glory at Epsom. The ante-post favourite for this year’s renewal is Ballydoyle’s Bonfire (5/2) but is being seriously challenged on the betting markets by Mandaean (3/1). Fellow Ballydoyle colt Ernest Hemingway is the 5/1 third favourite and Roger Varian’s Ektihaam a popular 6/1 choice. Frankel’s full brother, Noble Mission, also features among the high-quality entries.

    Ektihaam is owned by Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, whose Erhaab completed the Dante-Derby double in 1994.

    Article continues below

    © 2011 Gulf News (www.gulfnews.com)

    A Coach for the Recession

    Thursday, May 17th, 2012

    Executive coaches report steady demand for their services despite the recession. Individual and corporate clients say the one-on-one counseling is critical for career success, especially during tough economic times.

    Coaches typically are hired by companies, at $300 an hour or more, to hone the management or communication skills of senior leaders and rising stars. Even with the recession, many coaches say some companies are retaining their services to help them get lean and efficient. Coaches also said they are seeing an increase in individuals hiring coaches on their own.

    Theo Morrison for The Wall Street Journal

    Executive coach Wendy Alfus-Rothman says more individuals are scheduling monthly, rather than quarterly, sessions.

    Eric Chaffin, a 38-year-old partner at law firm Bernstein Liebhard LLP in New York, has paid coach Dee Soder out of his own pocket on a retainer since 2003, and has no plans to stop. “In a down economy, it’s particularly important to have someone on your side,” he said. “Instead of 10 client opportunities this year, there might be five. You have to make each one count.”

    Mr. Chaffin said Dr. Soder, founder of the CEO Perspective Group, an assessment and advisory firm in New York, helps him with tough career and practice decisions. For example, in 2003, she helped him weigh job offers from private firms after his four-year stint as a federal prosecutor. He chose a law firm that represents plaintiffs in consumer and shareholder cases because he and Dr. Soder thought it fit well with his blue-collar family background. Last year, he shifted to another plaintiffs’ firm, Bernstein Liebhard. Recently Dr. Soder advised him on how to work with clients who are hurting because of the recession. Mr. Chaffin said Dr. Soder gives him a different perspective than business associates. “Most lawyers think alike,” he said. “She’s helped me understand some of the characteristics of my clients and their motivations.”

    Executive coaches say they’re being hired by more individuals like Mr. Chaffin, a trend that has helped offset tighter budgets at some corporate clients. Dr. Soder says the number of her clients who are individuals paying on their own has nearly doubled since November. Wendy Alfus-Rothman, founder of Wenroth Consulting Inc., a New York executive-coaching firm, said more individuals are scheduling monthly, rather than quarterly, sessions.

    A 2007 study commissioned by the International Coach Federation pegged annual revenue world-wide for the industry, which includes life, career and executive coaches, at $1.5 billion, with about half the study’s 5,415 respondents in the U.S. Of the respondents, 58% reported executive coaching as their specialty.

    Coaches say many companies still use their services to retain top talent and support senior leaders while coping with smaller staffs and recession-starved budgets. Amber Romine, director in global human capital at consultancy PricewaterhouseCoopers LLC’s Washington, D.C., office, said she fields a steady stream of requests from clients looking for referrals to executive coaches. Gene Morrissy, a management psychologist at RHR International, said demand in the executive-coaching practice of the Wood Dale, Ill., organizational-development firm is up 10% from a year ago.

    Denver telecommunications provider Wide Open West Inc. in January canceled merit raises for this year and suspended company matching contributions to employee 401(k) plans. But this year the company will spend $25,000, about what it spends every year, on coaching for three managers. “Our fundamental belief is you have to develop your greatest assets, which are your people,” said Colleen Abdoulah, chief executive.

    Humana Inc., a Louisville, Ky., health insurer, also is protecting its coaching program. Humana this year will spend between $17,000 and $30,000 for six months of sessions for each of about 50 senior employees, said Jeff Nally, who heads the firm’s executive-coaching initiative. The meetings cover areas such as how to build an executive presence, communicate ideas and influence others. “Even in a recession, developing talent in key roles is still important,” said Mr. Nally.

    Still, Humana is trying to trim coaching costs, which totaled about $25,000 to $50,000 in past years. The company now encourages participants to conduct more counseling sessions by phone, which saves money on coaches’ travel fees. And rather than hire outsiders to assess coaching needs, senior executives and human-resources leaders conduct assessments of more junior employees, which cuts the length of engagements by an average of three months.

    Some small-business owners use coaches as sounding boards. Nancy A. May, president and chief executive of BoardBench Cos. LLC, a four-employee advisory firm in Norwalk, Conn., pays her own way to meet periodically with Dr. Soder. Ms. May says she relies on Dr. Soder for honest advice.”You wouldn’t go to somebody junior and say, ‘I’ve screwed up, what do I do?’ she says.

    Ms. May, 50, began working with Dr. Soder about a year ago on ways to improve her interactions with clients, among other issues. Sessions are held over the phone, and occasionally in person, twice a month for up to an hour. “At times I have a big personality and the enthusiasm can sometimes be off-putting to somebody who’s more of an introvert,” says Ms. May. “My coach is working with me to manage that based on the personalities of other CEOs or board people I might be working with.”

    Ms. May says she has noticed changes, particularly “how people are stopping and listening, and being drawn into a conversation with me a little differently.”

    Paula M. Zwiren, president of Allied Title LLC, a small title-insurance firm in Flanders, N.J., said she was inspired to seek coaching after attending a seminar led by a group of women business leaders. Ms. Zwiren, 33, meets quarterly with Dr. Alfus-Rothman for about two hours. “An executive coach helps you identify things that help you be in control of your destiny,” she said.

    Ms. Zwiren said Dr. Alfus-Rothman, whom she pays about $3,000 a year, has improved her communications skills. “You have to be very direct at the executive level, very concrete,” she says. “She helps me with my power of persuasion.”

    Executives and senior professionals interested in executive coaching should research prospective coaches carefully because the industry isn’t regulated, said Kay Cannon, a past president of the coaching federation and an executive coach in Lexington, Ky. “You want to make sure the individual has some kind of coach-specific training,” she says. For example, many ICF members are certified as master, professional or associate coaches, which means they’ve undergone between 60 and 200 hours of training.

    Ms. Cannon also recommends asking for referrals to past clients and getting a sense of whether you have chemistry with a coach before agreeing to a long-term commitment. To find a coach, you can search ICF’s member database at coachfederation.org/find-a-coach.

    Write to
    Sarah E. Needleman at sarah.needleman@wsj.com

    © 2011 Wall Street Journal (www.wsj.com)

    India, China fall foul of EU carbon law

    Wednesday, May 16th, 2012

    Brussels: A total of ten Chinese and Indian commercial airlines have broken EU law requiring them to offset their carbon emissions, while all other international carriers flying to or from Europe have complied, the European Union’s climate chief said yesterday.

    The EU law demanding all airlines participate in the EU’s Emissions Trading Scheme (ETS) has prompted outcry and threats of a trade war.

    But only eight Chinese and two Indian airlines have delivered on threats not to comply, while more than 1,200 airlines have met the EU’s requirements.

    "We have given them [India and China] until mid-June to report back their data," EU climate commissioner Connie Hedegaard told a news briefing.

    Article continues below

    The Commission, the EU’s executive arm, has the option of fining airlines that break its law, or even banning repeat offenders from flying to Europe, although this would be a last resort.

    To reduce tension, the Commission has looked to the UN’s International Civil Aviation Administration (ICAO) to come up with a global approach to curbing emissions from airlines.

    The body is expected to meet next month to review progress.

    "We are using a lot of time and energy in trying to ensure a global solution through ICAO," Hedegaard said. "Nobody would be happier than the EU if it could achieve [that]."

    Carbon prices

    The Commission has said it only decided on its plan after more than a decade of talks at the ICAO failed to agree on a global scheme to combat rising carbon emissions. It has also said it would modify its law if ICAO can deliver a deal.

    The cost of carbon allowances on the EU ETS has fallen to record lows, pressured by oversupply following economic recession.

    Yesterday, carbon prices were trading at below €7 a tonne — far below levels needed to spur low carbon investment.

    Hedegaard said in April that the Commission was reviewing its carbon auctioning timetable to try to reduce oversupply in the market. She expected news on the review before the Commission breaks for its August recess, with a legal decision expected before the end of the year.

    Changing the auctioning timetable to limit supply in the nearer term — or "backloading" — was a relatively quick solution, but other options under discussion, including setting aside allowances, could take longer.

     

    Penalties

    Wide-ranging dissent

    Penalties for breaking the EU law start at €100 (Dh588) per tonne of carbon airlines fail to pay for. More than 20 nations opposed to the scheme grouped together in a "coalition of the unwilling". They last met in Moscow, when they agreed possible retaliatory measures and said they would meet again in Saudi Arabia, although a date has not been set.

    "You cannot enforce laws outside your sovereign area. Its implications are huge," Indian civil aviation minister Ajit Singh had said last week. "Now you are talking about aviation, tomorrow you will talk about shipping. ICAO is there, these things will have be done on a multilateral basis."

    — Reuters

    © 2011 Gulf News (www.gulfnews.com)

    Connecticut Citizens and Organizations Receive Prestigious Regional EPA Environmental Award (CT)

    Wednesday, May 16th, 2012

    Release Date: 04/25/2012Contact Information:

    (Boston, Mass. – April 25, 2012) – Eleven environmental awards will be given to Connecticut environmental groups, individuals, businesses, nonprofit and government agencies today in Boston’s Faneuil Hall as EPA presented its annual Environmental Merit Awards for 2012.
    The merit awards, recognizing valuable contributions to environmental awareness and problem solving, are a unique way that EPA can recognize individuals and groups that are making significant impacts on environmental quality in distinct ways.
    Awarded by EPA since 1970, the merit awards honor individuals and groups who have shown particular ingenuity and commitment in their efforts to preserve the region’s environment. This year’s competition drew nearly 100 nominations from across New England.
    Awards were given in the following categories: individual; business (including professional organizations); local, state or federal government; and environmental, community, academia or nonprofit organization. Each year, EPA also may present lifetime achievement awards for individuals.

    "Congratulations to all of our 2012 Environmental Merit Award recipients. These awards are close to my heart because they acknowledge the importance of environmental stewardship, said Curt Spalding, regional administrator of EPA’s New England office. "As stewards, all of these recipients are making real and lasting differences in communities across our beautiful region. Whether it’s finding innovative ways to safeguard our water resources or conserving the energy our communities use each day, each individual has advanced our mission to protect human health and the environment."
    More information on all Environmental Merit Award Winners from this year and past years is available at: http://www.epa.gov/region1/ra/ema/index.html
    The Environmental Merit Award Winners from Connecticut are:
    Lifetime Achievement Environmental Merit Award:
    Alan Buzzetti
    For decades, Alan Buzzetti served as the heart and mind guiding Connecticut’s various efforts to eliminate lead poisoning, especially among children. In positions at the state Department of Public Health, rising from sanitarian to supervising environmental analyst, Alan managed and directed the state’s childhood lead poisoning prevention programs. But titles cannot explain the depth of his commitment to preventing lead poisoning. Alan has a rare ability to see the big programmatic picture as well as the details that make programs work. Alan oversaw Connecticut’s lead-poisoning-prevention funding by the EPA and the Centers for Disease Control and Prevention. He was instrumental in seeing that Connecticut became an authorized state for administering lead licensure and certification. This, in turn, allowed the state Department of Public Health to establish the Lead Environmental Management Unit, which eventually became the Childhood Lead Poisoning Prevention and Control Program under his tenure. Alan led the development of the state’s Strategic Plan to Eliminate Lead Poisoning and crafted state lead poisoning regulations, including regulations to require annual lead screenings for young children. Years before EPA and HUD offered courses in lead-safe work practices, he worked with the University of Connecticut to create this kind of course for his state, training thousands of workers. Alan also ensured that Connecticut became the institutional home of the EPA-funded New England Lead Coordinating Committee, a regional consortium of agencies working to eliminate lead poisoning. During his tenure, the committee launched its “Don’t Spread Lead” campaign for do-it-yourselfers including practices that have been adopted nationwide. Alan retired in 2009 but could not keep away from his life’s work. In 2010 he joined the Lead Action for Medicaid Primary Prevention Project, a federally funded healthy homes project. Alan’s dedication has truly made a difference to those trying to reduce lead poisoning.
    Northeast Recycling Council, Inc.
    The Northeast Recycling Council, Inc. works with its 10-member states that include New England, Delaware, New Jersey, New York and Pennsylvania to support environmental and economic sustainability through source reduction, recycling, environmentally preferable purchasing and recycling market development. One example of its achievements is the Northeast Newspaper Publishers Agreement, a multi-year, multi-stakeholder initiative that led to newspaper publishers signing commitments to increase the use of recycled content newsprint, resulting in a demonstrated increase in minimum recycled content usage in the region. The Council also took the lead nationally in demonstrating the relationship between jobs, the economy and the recycling industry. It developed a methodology for conducting such an analysis and published Recycling Economic Information Study reports about the region in 2000 and updated it in 2009. In addition to this, the organization was the first to tackle the end-of-life management of electronics and collaborated with the Council of State Governments / Eastern Regional Conference to develop model regional electronics legislation, some of which has been adopted in a number of New England states. In other areas, the Council has staffed and supported the Toxics in Packaging Clearinghouse that has published several significant studies; conducted the first research into how to safely collect and manage unwanted medications from the general public; worked with 32 towns in Connecticut, Massachusetts, New Hampshire, Rhode Island, Vermont, New Jersey, New York, Pennsylvania and Delaware to promote source reduction, recycling and composting; delivered unique manure management workshops in New Hampshire, Vermont and New Jersey, including the development of a handbook and guidance document; and founded and hosts the sole national listserv dedicated to a discussion of environmentally preferable purchasing.
    Individual Environmental Merit Award
    Anthony Leiserowitz
    Yale School of Forestry & Environmental Studies, New Haven, Conn.
    Dr. Anthony Leiserowitz at the Yale School of Forestry & Environmental Studies has established a center dedicated to making sure people communicating about the environment know who their audience is and speak in a way that reaches them. Anthony founded the Yale Center for Environmental Communication, which tracks how people think about and understand the state of the environment. The center designs new ways to engage the public in environmental science and empowers teachers and other communicators to more effectively engage their audiences. For example, research by Anthony has identified “Global Warming’s Six Americas” – six unique audiences that each respond to the issue in very different ways, each requiring a tailored communication strategy. Anthony has also found that most Americans think of climate change as a risk only to far-away people and species. He found, though, that Americans become more concerned when they are informed about health risks. Among those using the center’s research are the White House, the U.S. National Academy of Sciences, the National Science Foundation, NASA and EPA. Anthony publishes the Yale Forum on Climate Change & the Media, a source of climate reporting, analysis, and resources for journalists. And since most Americans get their news and information from local TV, Anthony is training broadcast meteorologists to integrate climate change into their broadcasts, making this issue relate to the lives of all Americans.
    Kevin Taylor
    Waterbury Development Corporation, Waterbury, Conn.
     Kevin Taylor, project manager at the Waterbury Development Corporation, built one of the region’s leading brownfields programs from the ground up in less than two years. This success was possible only through the talents of a trusted, inspiring individual. Born and bred in this once industrial city, Kevin studied architecture in college then moved back to Waterbury. At the Waterbury Development Corporation, he works to revitalize the city by redeveloping properties, including brownfields. Kevin addresses not one or two properties but dozens of properties at once. In 2008, he assembled a team to submit the city’s first-ever brownfields grant proposals with a bold mission of applying for every grant for which the city was eligible. Every one of the grants was funded and Waterbury won $1.2 million to assess brownfields and clean up two key parcels. Today, the city has assessed or cleaned up nearly 20 brownfield sites and has one of the most innovative brownfields programs in the region. Kevin succeeds in part by helping others envision creative ways to reuse buildings. He helped an organization dedicated to urban gardening envision the transformation of a brownfield into a community garden. He helped the Waterbury Police Athletic League to risk buying two brownfields properties to clean up as ball fields. And he inspired a leap of faith by an anti-poverty organization to see the potential of the former Waterbury Clock facility at North Square as a place for their programs and mixed-use redevelopment. Kevin helps community groups see the potential of brownfields, and then he helps them get the resources and support to finish the job.
    Betsey Wingfield
    Hartford, Conn.
    Betsey Wingfield, who works in the Connecticut Department of Energy and Environmental Protection, led the way in establishing a consensus to come up with effective laws regulating stream flow. After six years without legislative support, Betsey and her staff, along with other interested parties, sought common ground in this divisive undertaking. In January 2011, the group asked EPA New England to point them in the right direction. Soon after, the group took ownership of the process with an impressive display of commitment, creativity and sheer determination over 10 months. In November, the group announced that the state legislature had approved regulations proposed by the group. In the words of DEEP Commissioner Daniel Esty, “These new regulations are based on sound science and environmental needs, but offer a realistic, flexible and cost-effective means of accomplishing our water-related goals.” The regulations include rules governing the release of water from dams, a public process to assign rivers to one of four classes and special provisions to help balance human and ecological needs.
    Enviro, Community, Academia & Nonprofit Environmental Merit Award
    Goodwin College
    East Hartford, Conn.
    In 2005, Goodwin College announced dramatic plans to build a riverfront campus along Riverside Drive in East Hartford. With the help of EPA and other agencies, Goodwin created a new campus community with educational, economic, and environmental benefits for the region and beyond. The effort involved demolishing more than 30 above-ground oil tanks and other defunct industrial installations before redeveloping a formerly unusable industrial area. Late 2008, the college opened the 109,000 square-foot academic center. A year later, it rolled out its environmental studies degree program, which took advantage of access to the river and undeveloped flood plains for study of river ecology. In 2010, the Connecticut River Academy, an environmentally-themed magnet high school, also opened at the River Campus in a temporary space. The River Campus has grown into a cultural and educational hub. More than 10,000 people commute to campus each week, providing customers for local businesses. As of January, Goodwin had 526 employees and an annual payroll of $12.5 million. The college has more than doubled its workforce since 2006, not including new jobs at the magnet high school and an early childhood center. More than half of the 3,000 students at Goodwin are first-generation college students, with a student body that reflects the diversity of Hartford.
    Long Island Sound Study
    Citizens Advisory Committee
    New Haven, Conn.
    Curt Johnson and Nancy Seligson, Co-chairs
    The volunteers of the Long Island Sound Study
    Citizens Advisory Committee have helped bring together a unified group of people dedicated to improving water quality in the sound. This group includes volunteers from community organizations, businesses, educational organizations, environmental groups and local government. Together these groups developed “SoundVision,” a community blueprint for clean water, healthy habitats, and economically strong communities. Before forming “Sound Vision,” citizen volunteers reviewed the existing Comprehensive Conservation and Management Plan for Long Island Sound and tracked what had already been spent protecting and restoring the sound, looking at program outcomes. In addition, members of the advisory committee were surveyed and workshops were held with Connecticut and New York residents. The result was the two-year citizens’ action plan that includes themes and goals for the sound. It also includes steps to achieve those results, ways to measure success, and an outreach strategy to connect with the entire Long Island Sound community. Through their work, and under the leadership of co-chairs Curt Johnson and Nancy Seligson, the citizens helped bring about a united community of diverse interests to protect and restore Long Island Sound.
    New England Rain Garden – Training Team
    Amy Boyajian, Caitrin Higgins, Jillian Thompson, Amy Rowe (Rutgers Cooperative Extension); Michael Dietz, Chet Arnold (UConn NEMO Program)
    Stormwater pollution is the number one contributor to nutrient loadings that lead to water quality impairments. Most storms in the region require more low-tech, decentralized cost-effective solutions. Rain gardens provide an innovative pollution prevention answer to addressing stormwater challenges, and they foster new partnerships and capacity in the community. Rain garden trainings address a range of problems from flooding and stormwater to combined sewer overflows and have provided skills towards Green Jobs, particularly in low income and minority neighborhoods in partnership with such groups as Groundwork Providence that train and potentially provide jobs in the landscaping area. The Rutgers Cooperative Extension Water Resources Program-Rain Garden Training Team and the University of Connecticut Nonpoint Education for Municipal Officials Program collaborated with EPA, cities and community partners in New England over the past two years to provide two-day training to residents, watershed and neighborhood groups, youth and staff from Groundwork Providence, from low-income and minority communities in the function, design, construction and maintenance of rain gardens for stormwater management. They also have worked in partnership with community partners, mayors, departments of public works, and park staff from the cities of Bridgeport, Worcester and Hartford; neighborhood and community groups such as Groundwork Providence, watershed groups, the State of Connecticut, the Massachusetts DEPs, Providence Housing Authority, Blackstone Stormwater Coalition and universities. Over 500 people have been trained, and rain gardens have been installed at the Beardsley Zoo in Bridgeport, the Magnet School in Hartford, Roger Williams Park Botanical Center, the Manton Heights Housing Development in Providence, the Worcester Youth Center, and the VA Central Western MA Healthcare system Center in Leeds, Massachusetts.
    Governmental Environmental Merit Award
    Connecticut DPH, Drinking Water Section
    Hartford, Conn.
    Staff and managers of the Drinking Water Programs in Connecticut and Vermont, along with their partners, played an impressive role in responding to the aftermath of Tropical Storm Irene which slammed into New England last August. Although their stories were different, both states faced daunting challenges considering the extent of potential problems relating to hundreds of water systems and the safety of public drinking water. In Connecticut, about 770,000 customers, including public water systems, lost power after trees knocked down power lines. Water systems serving large populations were for the most part ready with emergency generators, but small water systems often stopped running, creating a risk of contamination. Employees of the CT Department of Public Health had to work quickly and intensively to determine if hundreds of water systems were operating and if not, what they needed to start back up. Because of the many small systems that lost pressure, the Drinking Water Program in CT DPH  had to expeditiously issue and manage 137 boil water advisories affecting more than 16,000 people. All of this was accomplished because of clear guidance and constant communication with the water sector, local officials, and the public.  In Vermont, rising rivers washed out roads and left towns isolated. Much of the Vermont Department of Environmental Conservation, including the Water Supply Division, was literally under water, with 90 percent of its files and computers lost or destroyed. Helping impacted water systems became a monumental task. Despite the communication challenges, the staff of VT DEC persevered, finding ways to contact and assist the public water supplies impacted by the storm. Staff from the Drinking Water Program used home computers and personal cell phones, often calling from ad-hoc meetings in muddy parking lots. With key and timely assistance from Vermont Rural Water Association, the staff reached out to over a hundred water systems in the impacted areas. In the end, 30 public water supply systems, serving more than 16,000 people, were put on boil water orders and effectively managed throughout the water crisis.  What made these state responses truly outstanding was the way dedicated drinking water program employees continued to work long hours in difficult conditions, despite personal losses. Despite the devastation, within a few short weeks the vast majority of water systems were back to normal operations. The dedication of these Drinking Water Programs to ensure the safety of public drinking water for the citizens of Connecticut and Vermont, even in difficult times, was truly unprecedented.
    Business, Industry, Trade or Professional Environmental Merit Award
    Ethan Allen Operations, Inc.
    Danbury, Conn.
    Ethan Allen, a manufacturer of hardwood furniture in Orleans and Beecher Falls, Vermont, is a working example of what happens when a company brings  business together with community involvement, sustainable forestry practices and environmental leadership. As Chairman and President M. Farooq Kathwari said, “We are a strong American brand with global reach.” At the local level, the company reduced air pollutant emissions of the last 10 years by 95 percent, and 234,800 pounds. The company’s commitment to using more eco-friendly chemicals in its finishes has reduced air pollution and hazardous waste generation. Ethan Allen Operations also works to maintain sound relationships with suppliers to increase productivity while reducing waste and emissions. A Green Suppliers Network improvement lets Ethan Allen improve the environment while still staying focused on business economy. On a larger level, Ethan Allen leads the way in environmental, health, and safety standards, working to integrate business objectives while ensuring the safety of employees and protecting the environment. The company’s efforts in New England have provided a model for its factories in North Carolina, New Jersey, Mexico, and Honduras. As a leader in sustainable furniture manufacturing, Ethan Allen is known for its quality products and positive business culture.
    Greenwich Hospital
    Greenwich, Conn.
    Thomas Lazzaro, John Huber
    Last year, the EPA New England assistance group started looking for hospitals that had examples of rain gardens and other sustainable landscaping. EPA found two New England hospitals that were not only early adopters of sustainable landscaping in a healthcare setting, but had both worked with EPA to promote sustainable landscaping at other New England hospitals. Kent Hospital in Warwick, Rhode Island and Greenwich Hospital in Greenwich, Connecticut, gave freely of their time and expertise over the last year, educating hospitals on how to design gardens while also managing stormwater through sustainable landscaping practices. To address stormwater runoff in New England, Kent Hospital and Greenwich Hospital developed healing rain gardens. These natural landscapes help reduce pollution from stormwater while connecting patients to a healthy environment. The leadership of these providers in developing dynamic green solutions is an example of how sustainability reaches every corner of our society. These hospitals have proven to be leaders in healing garden development. They organize tours, present at conferences and reach the larger public through media programs. The early adoption of sustainable landscaping is a practical solution to satisfy stormwater compliance issues, LEED certification standards and outdoor aesthetics. These hospitals have strengthened their regional identities as healthcare providers through low impact design and innovative leadership.
    More information on EPA’s Environmental Merit Awards in New England (http://www.epa.gov/region1/ra/ema/index.html)
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    Published by: United States Environmental Protection Agence (EPA) (yosemite.epa.gov)