The upcoming National Coalition on Mining Meeting on Tuesday 27th and Wednesday 28th of March, 2012.
A lot to discuss including the review in tax holidays and the imposition of windfall profit.
but most importantly how to empower suffering mining communities to fight the abuse they suffer at the hands of mining companies operating in their areas.
Friday, March 23, 2012
Thursday, January 19, 2012
FIFA NEVER GETS IT
As the World Football Governing Body Attempts to Muscle Giant Brazil
As recently as late last year , FIFA was thrown into a frenzied confusion over Corruption allegation arising out of the Bidding to host both the 2018 and 2022 World Cups that led to the resignation and banishing of some of the old men in the FIFA gravy train that is the Executive Committee.The shenanigans led to many calls for deep reforms in how FIFA is run and make the institution that governs the global game more accountability. It seems such a background will push FIFA to amend its ways but it looks like after a few weeks FIFA is back on form.
A couple of days ago the General Secretary of FIFA was in Brazil to inspect the progress of work towards the hosting of the 2014 World Cup and iron out some teething issues. As is always the case with hosting Major Global Sporting events, Brazil, a fully fledged democracy is required to make changes in its laws and pass legislations on Property rights, Profit Repatriation and tax laws to satisfy the terms and conditions set out by FIFA whose Executive Committee is accountable to no one.
This exercise which has been a formality with other tournaments is proving quite difficult this time around. The first issue was the pricing of tickets.FIFA objected vehemently to a proposal by the Gilma Roussef's Government of Brazil to cut ticket prices for minors and the elderly ; given the importance of the game in Brazilian national life and the Government's wish to extend the tournament to the reach of most Brazilians of all background. With both eyes firmly on the bottomline, FIFA flatly refused to agree and the issue remains unresolved. The irony could not be stark , the grubby old men at FIFA decide to lock out those who cannot afford tickets to a game with a working class origin because they are overly concerned about their profit. How perverse can one be?
This week the arrogant and insensitive FIFA were at it again , ordering the Brazilian Legislature to pass a bill that will allow for beer to be sold inside Football Stadiums during the world Cup.
In remarks to journalists in Rio de Janeiro, Mr Valcke sounded frustrated with Brazilian officials:
"Alcoholic drinks are part of the Fifa World Cup, so we're going to have them. Excuse me if I sound a bit arrogant but that's something we won't negotiate," he said."The fact that we have the right to sell beer has to be a part of the law."
As recently as late last year , FIFA was thrown into a frenzied confusion over Corruption allegation arising out of the Bidding to host both the 2018 and 2022 World Cups that led to the resignation and banishing of some of the old men in the FIFA gravy train that is the Executive Committee.The shenanigans led to many calls for deep reforms in how FIFA is run and make the institution that governs the global game more accountability. It seems such a background will push FIFA to amend its ways but it looks like after a few weeks FIFA is back on form.
A couple of days ago the General Secretary of FIFA was in Brazil to inspect the progress of work towards the hosting of the 2014 World Cup and iron out some teething issues. As is always the case with hosting Major Global Sporting events, Brazil, a fully fledged democracy is required to make changes in its laws and pass legislations on Property rights, Profit Repatriation and tax laws to satisfy the terms and conditions set out by FIFA whose Executive Committee is accountable to no one.
This exercise which has been a formality with other tournaments is proving quite difficult this time around. The first issue was the pricing of tickets.FIFA objected vehemently to a proposal by the Gilma Roussef's Government of Brazil to cut ticket prices for minors and the elderly ; given the importance of the game in Brazilian national life and the Government's wish to extend the tournament to the reach of most Brazilians of all background. With both eyes firmly on the bottomline, FIFA flatly refused to agree and the issue remains unresolved. The irony could not be stark , the grubby old men at FIFA decide to lock out those who cannot afford tickets to a game with a working class origin because they are overly concerned about their profit. How perverse can one be?
This week the arrogant and insensitive FIFA were at it again , ordering the Brazilian Legislature to pass a bill that will allow for beer to be sold inside Football Stadiums during the world Cup.
In remarks to journalists in Rio de Janeiro, Mr Valcke sounded frustrated with Brazilian officials:
"Alcoholic drinks are part of the Fifa World Cup, so we're going to have them. Excuse me if I sound a bit arrogant but that's something we won't negotiate," he said."The fact that we have the right to sell beer has to be a part of the law."
Monday, November 22, 2010
TO CUT OR HEAL THE ROTTEN FOOT
How the Deeply Entrenched Corrution at FIFA Could be Tackled
In a quintessentially FIFA style on Friday, the Ethics committee of FIFA gave few slight slaps on the wrist of six of the members on the Executive Committee of FIFA with the most senior ones getting the least slap.
The six Executive members who were punished were found to have made various demands for money in exchange for World Cup votes to be held on December 2 this years.
Amos Adamu and Reynald Temarii were the most high profile among the pack and they were the main characters in a a Daily telegraph sting videos where reporters posed as lobbyist working for corporate organizations backing the the US 2018 Bid. Adamu was given a three years suspension from football and banned from the December 2 vote while Tamarii was given a one year suspension,fine $6000 and banned from the December 2 vote.Other four were given similar light punishments.
In a quintessentially FIFA style on Friday, the Ethics committee of FIFA gave few slight slaps on the wrist of six of the members on the Executive Committee of FIFA with the most senior ones getting the least slap.
The six Executive members who were punished were found to have made various demands for money in exchange for World Cup votes to be held on December 2 this years.
Amos Adamu and Reynald Temarii were the most high profile among the pack and they were the main characters in a a Daily telegraph sting videos where reporters posed as lobbyist working for corporate organizations backing the the US 2018 Bid. Adamu was given a three years suspension from football and banned from the December 2 vote while Tamarii was given a one year suspension,fine $6000 and banned from the December 2 vote.Other four were given similar light punishments.
Wednesday, February 11, 2009
TWO TIER LEAGUE?
The idea of a two tier Premiership has been revived by Bolton chairman Phil Gartside. He proposes two divisions of 18 teams each, but controversially no promotion or relegation from the Football League, an arrangement that is usual in American sporting competitions. He argues that smaller leagues would solve the problem of the winter break and the England team. Given Bolton's situation, his views may not be entirely disinterested. However, he points out, 'It would even everything out and make it more competitive on that basis.' In the context of current criticism of the Premiership, it is a response that might appeal to the competiton's leadership. However, to make it acceptable there would have to be some promotion and relegation from the lower level to prevent the creation of a self-perpetuating elite (although some would say we have that already). However, it could be one or two clubs rather than three as at present.
UEFA DETERMINED TO LIMIT CLUB SPENDING
AS PLATINI PLANS TO REIGN IN BIG GUNS
Uefa boss Michael Platini is determined to level up the playing field in football by introducing restrictions on spending. He wants to revamp the rules to exclude clubs that failed to meet certain financial requirements from participating in lucrative European competitions. Platini denied that he was targeting Premiership clubs, arguing that many clubs across Europe were in a similar financial position, Nevertheless, the Premiership would be disproportionately affected. Under a plan put forward by the European Club Association, clubs would be allowed to spend no more than a certain percentage - yet to be decided but thought to be between 50 and 70 per cent - of turnover on wages and transfers. For example, if the limit were set at 60 per cent, a club with a turnover of £50m and a wage bill of £25m could then spend only a further £5m net on transfers. Given that most Premiership clubs have wage bills well in excess of two thirds of turnover, they would be bound to take a big hit. However, unlike a proposal floated by Uefa general secretary David Taylor, the current plan does not include a provision about clubs carrying excessive debt. Long-term capital borrowing would not figure in the calculations.
Paradoxically the rule change could strengthen the relative position of the current top four clubs. Because they have large turnovers they would be effectively able to outspend the opposition. They would not be threatened by the risk of a Sheikh Mansour coming in and bankrolling an upstart. However, despite his insistence that he wants to give every club a chance to win, it is people like the Sheikh and Roman Abramovich who seem to be Platini's real targets. He described City's bid for Kaka as ridiculous and said that clubs should invest in their academy and grow their own players rather than 'waiting for an Arab sheikh to bring in €150m.' It is thought that any rule change that was agreed would be phased in to give clubs time to adjust.
Uefa boss Michael Platini is determined to level up the playing field in football by introducing restrictions on spending. He wants to revamp the rules to exclude clubs that failed to meet certain financial requirements from participating in lucrative European competitions. Platini denied that he was targeting Premiership clubs, arguing that many clubs across Europe were in a similar financial position, Nevertheless, the Premiership would be disproportionately affected. Under a plan put forward by the European Club Association, clubs would be allowed to spend no more than a certain percentage - yet to be decided but thought to be between 50 and 70 per cent - of turnover on wages and transfers. For example, if the limit were set at 60 per cent, a club with a turnover of £50m and a wage bill of £25m could then spend only a further £5m net on transfers. Given that most Premiership clubs have wage bills well in excess of two thirds of turnover, they would be bound to take a big hit. However, unlike a proposal floated by Uefa general secretary David Taylor, the current plan does not include a provision about clubs carrying excessive debt. Long-term capital borrowing would not figure in the calculations.
Paradoxically the rule change could strengthen the relative position of the current top four clubs. Because they have large turnovers they would be effectively able to outspend the opposition. They would not be threatened by the risk of a Sheikh Mansour coming in and bankrolling an upstart. However, despite his insistence that he wants to give every club a chance to win, it is people like the Sheikh and Roman Abramovich who seem to be Platini's real targets. He described City's bid for Kaka as ridiculous and said that clubs should invest in their academy and grow their own players rather than 'waiting for an Arab sheikh to bring in €150m.' It is thought that any rule change that was agreed would be phased in to give clubs time to adjust.
PREMIERSHIP TRANSFER RECORD BROKEN
MANCITY AND SPURS LEAD THE WAY
the premiership is awash with cash and they sure know how to burn it.
Spending by Premiership clubs on new players in the January transfer window has hit a fresh all-time high of £160m according to Deloitte's sports business group. The amount may still go up because the transfer window was extended because of the bad weather so that deals in progress could be completed, but the total is already well above last year's £150m. Spending between Premiership teams made up around £105m of the £160m. Manchester City and Spurs have been the two biggest spenders. Deloittes said Manchester City have spent more than £50m during the transfer window and Tottenham around £45m. Total spending by Premiership teams in the January window again far exceeded that in other European leagues. Peter Rawnsley, director in the sports business group at Deloitte, commented. 'With the majority of their revenue streams already secured for the current season, whilst [Premier League] clubs are not recession-proof, they are relatively recession-resistant. Looking ahead, while the clubs will not be complacent, the latest transfer activity re-emphasises the financial strength and global appeal of the Premier League competition.'
the premiership is awash with cash and they sure know how to burn it.
Spending by Premiership clubs on new players in the January transfer window has hit a fresh all-time high of £160m according to Deloitte's sports business group. The amount may still go up because the transfer window was extended because of the bad weather so that deals in progress could be completed, but the total is already well above last year's £150m. Spending between Premiership teams made up around £105m of the £160m. Manchester City and Spurs have been the two biggest spenders. Deloittes said Manchester City have spent more than £50m during the transfer window and Tottenham around £45m. Total spending by Premiership teams in the January window again far exceeded that in other European leagues. Peter Rawnsley, director in the sports business group at Deloitte, commented. 'With the majority of their revenue streams already secured for the current season, whilst [Premier League] clubs are not recession-proof, they are relatively recession-resistant. Looking ahead, while the clubs will not be complacent, the latest transfer activity re-emphasises the financial strength and global appeal of the Premier League competition.'
NEW WAYS OF FUNDING TRANSFER DEALS
AS CREDIT CRUNCH FORCES CLUBS TO DO FINANCIAL ENGINEERING
We are in a credit crunch and an impending global economic slump where even the most solid businesses are having a hard time acquiring credit to fund their operations so it call for innovative ways for the spend-crazy premiership clubs to sustain their business model.One of such inventions is BESPOKE FINANCING. this is where a transaction is financed using tailor-made financial instruments.- a sort of a custom-made financing arrangement.
The January transfer window was marked by the increased use of bespoke loan facilities and debt trades to make deals happen. Spurs have struck lucky and have been the primary beneficiaries of 'debt forgiveness' meaning that their spending is closer to £20m than the reported figure of £49m. In Robbie Keane's case Liverpool still owed Tottenham around £11m of the initial £19m fee they agreed last summer, meaning his £12m move to White Hart Lane was completed with less than £1m in cash travelling in the other direction. Defoe's return did have a net cost to Spurs who notionally paid £15.75m for a player they sold for £9.2m last January, but with Portsmouth still owing outstanding fees for Defoe, Younes Kaboul and Pedro Mendes, only £6m in cash changed hands.
While Spurs have benefited from specific circumstances, the now-commonplace payment of transfer fees in instalments has seen an increase in the use of football-specific facilities to keep the transfer market moving. These niche products have boomed in the last year, driven by changes in the way that transfer deals are done and the pressure on cash flows. Where once deals were done on fairly straightforward cash terms, the size of modern transfer fees - there were six worth more than £10m in January alone - have left even the largest clubs having to pay in tranches. With selling clubs keen to get their hands on all the money up front, a small number of banks, specialist football finance houses and at least one player agency have developed bespoke loan products for football. Banks are increasingly being asked to provide facilities that allow the selling club to receive the full transfer fee up front, with the debt effectively being repaid by the buying club.
This could be explored here in Ghana even though our transfer market is not even matured and we don't need to reinvent the wheel.it fosters a less acrimonius relationship among our clubs and works to the benefit of club owners
We are in a credit crunch and an impending global economic slump where even the most solid businesses are having a hard time acquiring credit to fund their operations so it call for innovative ways for the spend-crazy premiership clubs to sustain their business model.One of such inventions is BESPOKE FINANCING. this is where a transaction is financed using tailor-made financial instruments.- a sort of a custom-made financing arrangement.
The January transfer window was marked by the increased use of bespoke loan facilities and debt trades to make deals happen. Spurs have struck lucky and have been the primary beneficiaries of 'debt forgiveness' meaning that their spending is closer to £20m than the reported figure of £49m. In Robbie Keane's case Liverpool still owed Tottenham around £11m of the initial £19m fee they agreed last summer, meaning his £12m move to White Hart Lane was completed with less than £1m in cash travelling in the other direction. Defoe's return did have a net cost to Spurs who notionally paid £15.75m for a player they sold for £9.2m last January, but with Portsmouth still owing outstanding fees for Defoe, Younes Kaboul and Pedro Mendes, only £6m in cash changed hands.
While Spurs have benefited from specific circumstances, the now-commonplace payment of transfer fees in instalments has seen an increase in the use of football-specific facilities to keep the transfer market moving. These niche products have boomed in the last year, driven by changes in the way that transfer deals are done and the pressure on cash flows. Where once deals were done on fairly straightforward cash terms, the size of modern transfer fees - there were six worth more than £10m in January alone - have left even the largest clubs having to pay in tranches. With selling clubs keen to get their hands on all the money up front, a small number of banks, specialist football finance houses and at least one player agency have developed bespoke loan products for football. Banks are increasingly being asked to provide facilities that allow the selling club to receive the full transfer fee up front, with the debt effectively being repaid by the buying club.
This could be explored here in Ghana even though our transfer market is not even matured and we don't need to reinvent the wheel.it fosters a less acrimonius relationship among our clubs and works to the benefit of club owners
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