Options are not extras

first_imgOptions are not extrasOn 18 Jul 2000 in Personnel Today Comments are closed. Previous Article Next Article With stock options increasingly a key part of US executives’ salaries, Richard Staines asks how the idea translates on this side of the AtlanticMany of the US’s senior IT professionals and board executives have got so used to stock options as part of their pay package that they raise cash to pay their weekly bills by selling on large amounts of their company’s shares.US companies have taken the equity stakes one step further, with many of their top executives being paid solely in their company’s stock.According to a report published last week by Manpower Services, this remuneration philosophy could be spreading to the UK and the rest of the world.Manpower claims this strategy is taking off in the UK, with 34 per cent of the UK’s HR managers claiming their companies offered stock options to executives (Personnel Today, 11 July).This finding means more UK companies than any other, including the US, offer the schemes – a viewpoint formed from interviews with more than 2,000 personnel professionals worldwide. The survey conducted in the UK, the US, Japan, France, Germany, Holland and Italy revealed companies in all the countries increasingly favour using profit sharing as an incentive.It seems to recruit and retain people at the top level, companies are under increasing pressure to reward them with super-generous company share schemes.But Rob Cooper, remuneration strategy expert at the consulting firm Bacon and Woodrow, denied Manpower’s claim that British companies are ahead of the US in their share strategies. He said the share-only pay schemes have become so popular Stateside that British IT companies are suffering as a result.Legal obstaclesBecause of legal obstacles, Cooper claimed British IT companies are unable to employ US staff who favour this radical if somewhat risky remuneration practice.The Manpower research showed 22 per cent of US companies, 29 per cent of Japanese companies and 19 per cent of UK companies offered share schemes to employees.Cooper said this kind of pay scheme was set to catch on in the UK, but disputed claims by Manpower that the schemes were more widespread this side of the Atlantic.“It is more developed in the US and share ownership in European countries is far less widespread than in the UK – governments in many European countries don’t favour share options as much as the British Government does,” he said.“Gordon Brown has taken on board the US way of doing things and is very heavily influenced by developments in the States.“There is definitely an expectation among employees in the US that they will be given some sort of stock in the company they work for.“It is particularly popular among start-up companies such as dotcoms, which may not have a lot of cash but can offer a stake in the success of their company in the future.”Cliff Weight, principal executive in compensation practice at William M Mercer, also said share ownership was far more common in the US.US pay set-upsHe said, “This is very much a trend. If you work in Silicon Valley, you would probably expect to be paid like this, and the whole pay set-up is very different in the US. As a result, more and more companies will be granting share options so they can get people on board.“Internet companies in particular have very little cash when they are in the ‘ideas’ stage and tend to pay in share options as a result – even though a high percentage of these companies fail.“Our research shows around 80 to 90 per cent of Internet companies fail – but people owning shares in those that do succeed can end up becoming multi-millionaires.”Mark Childs, global head of compensation at Fidelity Investments, said, “This is a world-wide trend – but the UK lags behind the US by a considerable distance in this. The rise of dotcoms has raised the profile of directors who get paid solely through share option schemes.“But some people are beginning to question the wisdom of stock options because of the risk involved – if your share price collapses then it is a short, sharp shock.”What is certain is that the Government has been quick to respond to the trend, with Chancellor Gordon Brown apparently embracing share schemes with open arms.Employees and directors can now receive shares with tax breaks under four schemes recognised by the Inland Revenue.The profit-sharing scheme, which will be phased out in 2002, the saving-related share scheme, the company share option plan allowing a maximum of £30,000 of shares per year, and Gordon Brown’s new all-employee share plan allow shareholders to pay minimal tax on their earnings through share schemes.www.inlandrevenue.gov.uk/shareschemes www.manpower.co.uk Related posts:No related photos.last_img read more

Read More

Colorado names Georgia defensive coordinator Mel Tucker as new coach

first_img Related News USC hires Kliff Kingsbury, former Texas Tech coach, as offensive coordinator Tucker, 46, has been Georgia’s defensive coordinator for three seasons. He previously was an assistant at Michigan State, LSU and Alabama and left the Crimson Tide with Kirby Smart when Smart, the Tide’s longtime defensive coordinator, left Alabama to become Georgia’s head coach.Tucker, who also served as defensive coordinator for the Browns, Jaguars and Bears in the NFL, has never been a head coach, although he was interim head coach of the Jaguars for five games in 2011. IT’S OFFICIAL! Welcome to Mel Tucker, the 26th head coach in CU historyFull story ➡ https://t.co/oQSBoPY1mz#GoBuffs pic.twitter.com/k1QhfvSurb— Colorado Buffaloes Football (@RunRalphieRun) December 5, 2018″Colorado has always been a place that I thought should be relevant in the national championship conversation year-in and year-out, because of its tradition and a seemingly endless list of what the school has to offer,” Tucker said in a release. “What we have to offer are some of the best facilities in the country, strong academics, and an amazing environment as a whole. Colorado should be a ‘no excuse’ program. There’s absolutely no reason we can’t achieve success at an extremely high level.”Tucker replaces Mike MacIntyre, who was fired last month after six years as coach (30-44). Georgia defensive coordinator Mel Tucker is the new head coach at Colorado, the school announced Wednesday. He will start work immediately and will not coach the Bulldogs in the Sugar Bowl against Texas.  last_img read more

Read More

MEET YOUR DONEGAL GAA HEROES THIS WEEKEND AT OPEN TRAINING SESSION

first_imgYes, it’s going to be nuts again!Two years ago the Donegal GAA team organised a meet and greet the players at MacCumhaill Park before going on to capture the Sam Maguire.And now they’re doing it again. But this time it’s not one Donegal team but two!Both the Donegal Minor and Senior teams will take part in an open training session at the Ballybofey venue starting at 1pm.All supporters have ben welcomed to the free event and fans will be able to have their jerseys signed.  MEET YOUR DONEGAL GAA HEROES THIS WEEKEND AT OPEN TRAINING SESSION was last modified: September 3rd, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:DOnega open dayGAAMACCUMHAILL PARKlast_img read more

Read More

Waste drive reaps rewards

first_imgThe TrashBack uphinda-phindo! projectgives community members an incentiveto collect rubbish by offering rewardsof food, clothing, and other items.(Image: TrashBack) The incentive scheme rewards top wastecollectors from the community for theircollection efforts.(Image: TrashBack) MEDIA CONTACTS • Nicholas Wiid TrashBack+27 76 507 4272RELATED ARTICLES• New solutions for water conservation• Rugby sewing initiative kicks off• South Africa’s auto industry to turn green • Plastic-bag billboard a world first • Obama’s trashy Karoo treasuresWilma den HartighA new community recycling initiative in the coastal town of Hout Bay in the Western Cape is changing the way people think about waste management.The TrashBack uphinda-phindo! project is more than just a waste collection scheme: it gives community members an incentive to collect rubbish by offering rewards of food, clothing, and other items.Uphinda-phindo! is a Xhosa expression meaning repeated returns or recycling.The project is the brainchild of three former University of Cape Town students, Nicholas Wiid, Andrew Mcnaught and Terence Goldberg. With the help of corporate sponsors, the project has put a scheme in place to encourage disadvantaged communities to manage their own waste.The initiative was launched in September 2011 in the Imizamo Yethu informal settlement in Hout Bay, in partnership with local NGO Green Living and the local Hout Bay Recycling depot.“Through the rewards programme, we are trying to give people a reason to recycle and help people understand the value of recycling for their community,” Wiid says.Project goalsHe explains that the benefits of the recycling project are threefold. More waste will be recycled and directed away from landfills, residents can take ownership of their living space by beautifying their surroundings, and the project provides both informal and formal employment, contributing to local social upliftment.Although giving incentives for waste collection is a main feature of the programme, TrashBack is not just about giving handouts.The project hopes to encourage communities to take pride in their local environment and, in turn, be rewarded for doing this.“The TrashBack project wants to inspire a bit of competition in the local community,” he says.The initiative has already achieved great success in the few weeks it has been running.“The response has been phenomenal. In the first two weeks, over 270 participants got involved and we collected almost two tons of recyclable waste,” Wiid says. Since then, 370 participants have registered with the project.How it worksTo be eligible for rewards, participating individuals have to register with TrashBack. “Anyone can do it. We have children as young as four who have been registered by their parents and recently our top collector was 58 years old,” he says.The incentive scheme rewards top waste collectors from the community for their collection efforts. When community members bring in a set volume of recyclables, they are issued with points that are then registered under their personal profile on the uphinda-phindo! system.Those who have the most points at the end of each collection period are guaranteed a reward, with a predetermined number of rewards available for each collection period.Those who were not top collectors for a specific collection period will not lose their points. All the points are carried over to the next collection period, while the points of those who did receive rewards are reset to zero.Collectors who have earned rewards are notified by text message to come in and collect their goods.The rewardsRewards include food, clothing, shoes, shopping vouchers, stationery, mobile phone airtime and high school textbooks. “Before the project started we conducted a survey to find out what people would like and these are some of the items that were most popular,” he says.For the pilot project, TrashBack partnered with local sponsors to provide the incentives for recycling.A fish and chips shop, Fish on the Rocks sponsored meal vouchers and the Hout Bay SuperSpar provided 25 gift vouchers for the collectors to redeem.Siyavula, an open source school text book project, donated grade 10 physical science text books.He says that they are also thinking of introducing a lucky draw element to the project in the near future as an additional incentive.Finding a model that worksAlthough TrashBack is not the first scheme in South Africa to reward recyclers, Wiid says there is a great need for such projects in the country.With the benefits of rewards, the project can bring about social change. It has the potential to transform the way people think about recycling in communities across South Africa.In South Africa and other parts of the world there are many similar projects to promote waste collection for recycling.“In Brazil, the government subsidises discounted bus tickets for collection of waste. The other great thing about such projects is that collecting points also teaches people about saving,” he says.The pilot phase of initiative will run for the next six months and in this time the founding team will tweak the project model to ensure that it is sustainable.“Once we have a model that works, we want to take it to potential funders, government departments and potential sponsors to roll out the concept in other parts of Cape Town and the country,” he says.last_img read more

Read More

How to earn almost 5,000 Favorite points: Interview with cache owner goblindust

first_imgGeocaching HQ: What’s your background outside of geocaching?Goblindust: Oh, I was born in the wild and lived among coyotes. No! (laughs) As far as my background goes I’m no engineer. A little bit of experience in electronics, but mostly I enjoy tearing things apart and sticking them back together…Appliances, cooking equipment, etc.Geocaching HQ: How and when did you hear about geocaching?Goblindust: 2003! I think I went to a park in Portland, Oregon for a concert and I found a little tube, it looked like a bug catching tube or something. It had a sticker on it that said, ‘don’t take it’ because it had to do with geocaching. I went home and looked it up, signed up, then went to REI to buy a GPS. The first cache I did was in Colorado. Geocaching HQ: Was the first cache you found the one that got you hooked?Goblindust: Yes, it was pretty fun and exciting. The cache was a Multi that was pretty difficult. Dummy me, first one should have been an easy one. Still was pretty cool to do and I enjoyed it.Geocaching HQ: Where did the name “goblindust” come from?Goblindust: Someone who didn’t like me said I was like a goblin. I had to come up with a name on the spot, and I went with that thinking I would change it, but here we are.Geocaching HQ: What cache have you found that made an impression on you?Goblindust: The Raven’s Labyrinth down in Arizona. You’ll find a few keys in a tree, then it says to go back to the map box. You’ll use the keys to open the box with hydraulics. You’ll play around with the movements of the the box and electronically a steel ball drops down through a labyrinth, and you’ll balance it and guide it to a hole. The side will open up and you’ll sign the logbook. Though if you make it to the final hole, you get your name on a brass plaque.A geocacher attempting The Raven’s LabyrinthGeocaching HQ: For you what makes a quality cache?Goblindust: I would say different, is the biggest thing. We’ve all done lamp skirts, but you could design a lamp skirt that is different. Think about what else it could do. Geocaching HQ: What’s the best approach to a creative geocache?Goblindust: How do you tell people to be creative? First you need to think, “What do I want to do?” and it needs to be different than what someone else has done. Think of something new. I’ll go into Goodwill and generate ideas then think of what can I do with that. For example birdhouses are easy to do because there are so many ways to open them. You can use magnets, hooks, latches.Geocaching HQ: You say you go to discount/thrift stores for inspiration. Do you have other means of finding inspiration?Goblindust: Discount stores are great because I don’t want to spend a lot of money and people like to throw out wonderful stuff. You know, they removed the fire hydrant in front of my house and I asked the fire department if they would give me the old one. They wouldn’t give it to me. But you got to look around and ask, what could I do with this? Any kind of hardware store is great or marine stores for waterproof stuff.Goblindust helped create a geocache featured on Geocaching HQ’s GeoTour: GC32A0HGeocaching HQ: You have a number of complicated and intricate caches. Do you find it difficult to provide maintenance on them?Goblindust: Not difficult but they do require batteries sometimes. I often find that when building them I need to make them geocacher proof so they don’t break it. How do I make a (geocache) so it cannot be forced open or destroyed by geocachers? One of the things I learned was to not use standard screws. I don’t worry about muggles. None of my stuff is Premium only and I try not to have too many because it could turn into too much time and batteries. I try to make them as maintenance free as possible.Geocaching HQ: Do you have a favorite hide of your own?Goblindust: I would think Dr. Who is probably the favorite, because there was nothing like it at the time. It was fun to put together. It was a big challenge to me because when it was done it was still hard to find. It took a lot of effort to make it work and build.Geocaching HQ: Have you ever had an idea that you thought was impossible?Goblindust: No. I don’t think anything is impossible. It’s always doable but how much does it cost? How long will it last? The biggest thing is always where to put it. You’ll need to pick somewhere safe so people cannot trash it out. Nothing is impossible, it’s just time and effort. Pretty much anything I’ve built I’ve doubled the work with what didn’t work, got stolen, or easily broken.Goblindust having fun at one of his pirate ship events hosted in Washington stateGeocaching HQ: What keeps you playing the game?Goblindust: The social aspect of it, mostly building the caches, but also the places it takes you to. It’s good motivation to get you outside and to another country because of an event or special cache in the area.How can you add more creativity to your hides? If you challenge yourself to think outside the ammo can, keep an open mind, and always look for inspiration you’ll be one step closer to a creative cache. Look around at other caches, or as goblindust does, visit second-hand stores and ask yourself what you want to do–and also if it needs batteries. Share with your Friends:More Creative caches are memorable. You hear about them from your friends, at events, or from our blog/social media. But what goes into them? Who is behind them? In Washington state, a name you hear often synonymous with innovative geocaches is “goblindust.” He has an array of caches unique from each other.  Goblindust, also known as Scott Meyers, has been a member of geocaching for 15 years and hid his first cache on December 20, 2003. Since then his active caches have accumulated over 4,700 Favorite points. With that statistic in mind, it sounded like he might know a thing or two about cache hiding, so I sat down with goblindust to discuss who he is, where he finds his inspiration, and what tips he has for the rest of us. SharePrint RelatedGeocachers Help Grant a Make-A-Wish® for a Geocaching TeenJune 25, 2013In “Geocaching.com Videos”Padlocks, RFID chips, and secret briefcases: an interview with a geocaching maniacMarch 12, 2019In “Geocaching Weekly Newsletter”Geocacher of the Month Nominees for July 2013 – Add Your CommentsAugust 2, 2013In “Community”last_img read more

Read More

“No Timeframe” for Playstation Network Return After Hack

first_imgdan rowinski 9 Books That Make Perfect Gifts for Industry Ex… 5 Outdoor Activities for Beating Office Burnout Tags:#gaming#security#web 12 Unique Gifts for the Hard-to-Shop-for People…center_img The Sony Playstation Network hack that has plagued the video game platform since April 20 has forced the company to shutdown the service indefinitely while it works to rebuild the platform.The Playstation blog, a space normally used for gaming updates, tips and anecdotes, has been updating the status of the network about once a day since the initial attack brought down the platform last week. It said April 25 that the company does not have a timeframe for when the service will again be available.“I know you are waiting for additional information on when PlayStation Network and Qriocity services will be online. Unfortunately, I don’t have an update or timeframe to share at this point in time,” wrote Patrick Seybold, senior director for communications and social media at Playstation.The company acknowledged the hack April 22 in a post stating that an “external intrusion on our system has affected our PlayStation Network and Qriocity services. In order to conduct a thorough investigation and to verify the smooth and secure operation of our network services going forward, we turned off PlayStation Network & Qriocity services on the evening of Wednesday, April 20th.”Seybold wrote that the Playstation Network is “re-building our system to further strengthen our network infrastructure.” That suggest that the intrusion is not a distributed denial of service (DDoS) attack but a more sophisticated hook into the system.International hacker group Anonymous, which has taken down websites large and small with DDoS attacks according to its political agenda, has denied responsibility for the attack. In a post on its message boards, Anonymous said “for once we didn’t do it.”Note: Unedited from the original Anonymous message, typos and all.Sony’s Playstation Network, its online service for Playstation 3 and its Playstation Portable consoles, suffered from a major outage today; which is on going as of this writting. According to Son’ys blog, the interruption in service may last into the long weekend – for at least another “full day or two”. Sony released a statement through its EU blog, saying that the network outage may be a result of “targeted behaviour by an outside party”, brining in the possibility of cyberattacks. Adding to the confusion is the fact that the message has since been removed.While it could be the case that other Anons have acted by themselves AnonOps wa not related to this incident and takes no responsiblity for it. A more likely explination is that Sony is taking advantage of Anonymous’ previous ill-will towards the company to distract users from the fact the outage is accutally an internal problem with the companies servers.Sony is incompetent.Anonymous had originally been upset with Sony over its decision to sue hacker George Hotz after he jailbroke the Playstation 3. Sony and Hotz settled the case earlier this month.The Playstation Network has upwards of 70 million members and has been around since 2006. It allows users to play multi-player games online, rent videos and games, watch Netflix movies, instant message and chat. Correction: Qriocity is an online European music service, not the European version of PSN as previously reported. 4 Keys to a Kid-Safe App Related Posts last_img read more

Read More

Darvish left spinning as Dodgers fall into World Series deficit

first_imgJapan ex-PM Nakasone who boosted ties with US dies at 101 READ: Astros start fast, top Dodgers for 2-1 World Series leadIf Los Angeles is to win the World Series, the Dodgers will have to do it at home for the first time since 1963 — and with a bullpen that has covered 13 1/3 innings over the past two games.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutAhead of his start, Darvish joked he should receive a gracious greeting because he wore a “Houston Strong” T-shirt last month to raise money for hurricane relief.“Maybe I can use a ball that doesn’t have much pop in it,” he said through a translator. Don’t miss out on the latest news and information. QC cops nab robbery gang leader, cohort Los Angeles Dodgers starting pitcher Yu Darvish leaves the game during the second inning of Game 3 of baseball’s World Series against the Houston Astros Friday, Oct. 27, 2017, in Houston. (AP Photo/Eric Gay)HOUSTON — Pitching in his World Series debut, Yu Darvish kept turning his head as balls clanked off the outfield wall or soared over it.Darvish had never pitched fewer than three innings in 135 previous big league outings. On baseball’s biggest stage, he got just five outs and left with a four-run deficit in Friday’s night’s 5-3 loss to Houston, which put the Dodgers in a 2-1 World Series hole.ADVERTISEMENT View comments Kammuri turning to super typhoon less likely but possible — Pagasa LATEST STORIES Yuli Gurriel drove a slider into the left field Crawford Boxes opening the second, and Josh Reddick doubled to left for his first extra-base hit in 49 plate appearances this postseason — the third extra-base hit off Darvish among the Astros’ first six batters.Evan Gattis walked and, after a visit to the mound by pitching coach Rick Honeycutt, Gonzalez hit a 373-foot single off the left-field wall for a 2-0 lead.Brian McCann lined an RBI single into right and Alex Bregman hit a sacrifice fly with one out, and Darvish was done for the day, skirting the edge of the World Series logo as he walked to the third-base dugout.Yasiel Puig also had a bad day. With Los Angeles trailing 4-1 in the fourth, he singled down the third-base line, ran past first, slowed to almost a stop, then noticed the ball was bounding off the low wall. He then started for second and was thrown out by Gonzalez.Reliever Tony Watson added his own errant moment, throwing Gattis’ chopper past first baseman Cody Bellinger in the fifth, allowing Reddick to score from first base on what was ruled an infield hit and a two-base error.After a strong start by Clayton Kershaw in the opener and a good-but-abbreviated one from Rich Hill in Game 2, the Dodgers have failed to retire the side in order for 14 consecutive innings. The bullpen stretched a scoreless streak to 28 innings during Game 2 on Wednesday night before blowing a save and losing in 11 innings. Houston had enough pop to keep the ornamental train above Minute Maid Park’s left-field wall sounding its whistle often early in Friday’s game.Darvish threw 49 pitches and had just one swing and miss — by Carlos Correa on a 98 mph fastball in the first inning. There was also a missed bunt attempt by Marwin Gonzalez before his run-scoring single in the second.The 31-year-old Japanese right-hander seemed amped up. His fastball averaged 94.7 mph during the season, according to Brooks Baseball, but with higher velocity against the Astros, his slider flattened.Acquired from Texas at the July 31 trade deadline, Darvish had been 2-0 with a 1.59 ERA in a pair of postseason starts, winning Game 3s against Arizona in the Division Series and the Cubs in the League Championship Series.But he seemed out of sort right from the start against Houston, falling behind leadoff hitter George Springer 3-1 and allowing an RBI double.ADVERTISEMENT Kin of Misamis Oriental hero cop to get death benefits, award — PNP CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA MOST READ Astros start fast, top Dodgers for 2-1 World Series lead Read Next Brace for potentially devastating typhoon approaching PH – NDRRMC Trump attends World Series baseball game in Washington DC PLAY LIST 01:04Trump attends World Series baseball game in Washington DC07:50BYS Academy: Create a Fall Glam Makeup Look00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Stronger peso trims PH debt value to P7.9 trillion Typhoon Kammuri accelerates, gains strength en route to PHlast_img read more

Read More

Thiruvananthapuram temple riches spark ownership debate

first_imgKerala’s Padmanabha Swamy temple is being called the world’s richest. Riches worth over Rs one lakh crore have already been unearthed from the underground vaults of the temple, while one more chamber was being opened on Monday. The discovery has sparked off a controversy as to what happens to the treasure now. Does it belong to the public or to the royal family? The wealth was discovered when the underground vaults in the temple were opened on June 27 on the Supreme Court orders following a private petition seeking transparency in the running of the trust and what came out dazzled the seven-member panel appointed by the apex court. The treasure trove in Kerala temple includes a gold sheaf weighing 500 kilos, 18-foot gold chain weighing 10.5 kilos, three-and-a-half feet tall Lord Vishnu idol studded with diamonds, emeralds and rubies, 36-kilo golden veil, 1200 ‘Sarappalli’ golden chains, some sporting ‘navaratnas’, three gold stone-studded crowns, diamonds, precious stones, including cat’s eye, rubies and emeralds and 1,000 kg of gold coins. Former High Court Judge M.N. Krishnan said, “We are expected to take the inventories and submit before the Supreme Court.” Two of the six underground vaults of the temple have not been opened in 136 years. One chamber was last opened 140 years ago. The last remaining chamber – the oldest one termed the B vault, will be opened after July 8. Meanwhile, security has been heavily beefed up in and around the temple complex. But the question is who the wealth belongs to. What happens to this treasure now? Chief Minister Oommen Chandy said, “The government will assist in safeguarding the treasure.”  Former High Court Judge Justice C.S. Rajan said, “That is for the court to decide who is the owner. Who is the authority that is a dispute before the court – whether the maharaj is the owner or somebody else is the owner or the government can take over all this.” Legal Expert V.R. Krishna Iyer said, “The wealth should be used in public interest. The treasure should be handed over to a national trust and spent for the welfare of the poor.” Activist Jaya Jaitley told Headlines Today, “People offer money to the God. The God’s represented by the temple. There is no question that the state can say it has a right over the wealth. There will be huge turmoil in that event. Leave it to the temple.” However, Jaitley added, the temple can use some money for the welfare of the people. “The money belongs to the temple. It’s a great treasure we have found?it’s atrocious to suggest it’s black money,” Sabrimala temple spokesperson Rahul Easwar told Headlines Today. The government, though, says that the treasure will be used in public interest, but only if the Supreme Court allows. Till the time SC decides on who gets the treasure, the world’s richest temple will continue to be the guardian of God’s own wealth.  Experts believe the value of the treasure trove is nearly three times the annual budget size of Kerala. It is almost double of the annual budget of Bihar, which was Rs. 65,000 crore for year 2011-12.  The treasure trove is more than the budgetary allocation for rural development programmes with a total allocation of Rs 74,143 crore. It is four times the annual health budget, which was allocated at Rs 26,760 crore in this Budget.advertisementHow the Kerala temple compares to other rich temples  Five hundred and twenty two silver bricks were recovered from the ancient Jagannath temple in Puri in February this year. The bricks weighing 18 tonnes were worth Rs 90 crore. The recovery, from a room that had remained closed for decades, had been a surprise. It was the Balaji Temple in Tirupati that was the richest Hindu temple in the world, till the Padmanabha Swamy temple surpassed it. The insurance cover for Tirupati Balaji’s jewels is whopping Rs 52 thousand crore. The Tirupati temple is also known to have 3000 kg of gold, worth Rs 42 thousand crore. One third of this gold was deposited with the State Bank of India last year. Several temples in India have crores of rupees worth of wealth as devotees donate gold and other precious objects. But with one more vault left to be opened, the wealth of Lord Padmanabha could possibly be the largest in the world – larger than even the most celebrated religious repository of treasure, the Vatican. While the Vatican has more artefacts of proven artistic, historical and religious value, most of them cannot even be quantified in terms of money. Its Rs 1500-crore annual revenue pales in comparison to the treasure of Sree Padmanabha Swamy temple. The Sistine Chapel ceiling, painted by Michelangelo between 1508 and 1512, maybe priceless, but the gold from the Kerala temple would earn more interest per year, year after year. – With Sreekesh in Thiruvananthpuramadvertisementlast_img read more

Read More

10 months agoMurillo: Mina advice key to Barcelona move

first_imgMurillo: Mina advice key to Barcelona moveby Carlos Volcano10 months agoSend to a friendShare the loveJeison Murillo admits Yerry Mina convinced him about moving to Barcelona.Mina left Barca for Everton last summer and urged his Colombia teammate to accept the move when the Catalans approached Valencia about a loan deal.Murillo was unveiled by Barca yesterday and he confirmed Mina’s influence.”I am very friendly with Yerry. He recommended to me several things, he advised me,” said the defender.Murillo has joined Barca on-loan to June with a permanent option. TagsTransfersAbout the authorCarlos VolcanoShare the loveHave your saylast_img

Read More

10 months agoLiverpool striker Solanke favours Crystal Palace move

first_imgTagsTransfersLoan MarketAbout the authorPaul VegasShare the loveHave your say Liverpool striker Solanke favours Crystal Palace moveby Paul Vegas10 months agoSend to a friendShare the loveLiverpool striker Dominic Solanke favours a loan move to Crystal Palace.Solanke is ready to say yes to a loan move to Crystal Palace — because he wants to come back to the Kop.The Sun says Solanke’s dream is still to make it on Merseyside and that gives Palace an advantage as he decides his move over the next 24 hours.Brighton tried to sign Solanke full-time, Bournemouth are back in the hunt and Watford came into the race as he looks for the club to join this weekend for the game time he cannot get at Anfield.All are keen but some want to get him outright, which is not what Solanke, 21, wants at the moment. last_img read more

Read More