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NewsLocal NewsPersistence wins day for Dockers’ MemorialBy admin – August 17, 2009 590 Advertisement Previous articleGardaí investigate sexual assaultNext articleSpiritStore admin Facebook Linkedin Print Email Twitter WhatsApp WORK on a bronze monument to commemorate the thousands of Limerick dockers, is to commence shortly.Two years ago, Limerick City Council agreed to finance the project and a special committee, chaired by Cllr Jim Long, was set up to oversee the project.Sign up for the weekly Limerick Post newsletter Sign Up There was a very positive response to the invitation for design submissions for the work and an appropriate riverside location was agreed on.,“However, the project ran into some trouble when funding was cut back and we had to delay it, but I’m now absolutely thrilled that our persistence to have a fitting monument erected to the generations of men who worked under very harsh conditions for very little pay, is now about to be delivered,” Cllr Long told the Limerick Post. “The original funding has had to be reduced, due to the current economic climate – we have 77,000 euro but are fairly confident of getting some additional private investment. I’m absolutely delighted that our promise to the families and descendants of the men who worked in the docks, can now be fulfilled.“Work will commence shortly on the monument, which has been commissioned, and we are very hopeful for completion before Christmas”.The site on which it will be erected is on the riverside quay, opposite the former ESB offices, on Honan’s Quay.Cllr Long confirmed that the committee will also proceed with producing memorial scrolls on velum, recording the name and employment periods of former dockers, which will be presented to their descendants.A spokesperson for City Hall said that the Limerick sculptor, Michael Duhan, originally from Wolfe Tone Street, whose father worked in the docks, has been commissioned to execute the work, and she also confirmed their optimism for private investment.
Publica, one of Switzerland’s largest pension funds, will reduce pension promises for future retirees with effect from January 2019.The CHF38bn (€35bn) pension fund for federal employees in Switzerland yesterday announced that it would cut its technical rate and conversion rate with effect from 1 January 2019.In doing so, it followed moves made by other Swiss pension funds seeking to shore up their long-term financial stability in the face of the country’s ultra-low interest rate environment.Publica said it would cut the technical rate (technischer Zinssatz), which is applied to active members’ accrued assets, from 2.75% to 2% for its open pension schemes, and from 2.5% to 1.25% for closed schemes. Publica is a collective institution comprising 20 schemes, seven of which are closed and 13 open.The conversion rate (Umwandlungssatz), which is used to calculate members’ pension payout levels, would be lowered from 5.65% to 5.09%, Publica announced.The pension fund said it took the decision with a view to securing benefits over the long term, and that “realistic” technical parameters were part of the measures the fund was focussing on to respond to the continued low interest rate environment and declining return expectations.It said it would specify by the middle of the year how the benefit cuts associated with the new technical parameters should at a minimum be “cushioned”. It is up to the open schemes’ decision-making bodies – comprising employee and employer representatives – to decide which measures can be implemented to offset the effect of the lower conversion rate for their respective members.Under the intensely contested “Altersvorsorge 2020” (AV2020) pensions reform that was recently agreed in parliament, the minimum conversion rate is due to be lowered from 6.8% to 6% for those assets accrued based on the absolute minimum contribution required under the second pillar law.The question of how this should be offset was one of the most hotly debated aspects of the reform.Publica announced the future technical parameters in the context of its official annual results.These largely confirmed preliminary figures released in January, with Publica saying that its industrialised and emerging market investments were the main drivers of its strong performance in 2016, and that Swiss real estate was one of the successful asset classes as its holdings gained 10%.
A team of USC researchers has released a study analyzing the science behind what makes a particular song a hit.Joseph Nunes, a marketing professor at the Marshall School of Business, along with Andrea Ordanini, a marketing professor at Bocconi University in Italy, analyzed Billboard magazine’s Hot 100 list to determine what makes a song a No. 1 hit and what prevents another from ever climbing above No. 90.“There is research on music preferences, but there really [isn’t] a lot that [is] empirical in the sense of going out and getting secondary data, or big data sets and thinking about what became popular and what didn’t based on people’s perceptions of the song,” Nunes said.The goal of the study was to take a consumerist perspective and study what and why certain songs become popular.Nunes enlisted a team of graduate students from the Thornton School of Music to help with the study. The team was led by Brad Sroka, a doctoral candidate studying historical musicology. Together, the research team analyzed all 1,029 songs that took the No. 1 spot on the Hot 100 list between 1958 and 2012, as well as the 1,451 songs that made the list but never climbed above the No. 90 spot. Using the audio recordings of as many of those songs as possible, they coded the types of instruments and vocals audible in each hit.Two different methods were used in analyzing the songs. The first, Qualitative Comparative Analysis, involved comparing the set of songs that reached No. 1 with the set of songs that never surpassed No. 90 to determine which combinations of instruments were most common in each set.The second method utilized logistic regression analysis to examine the relationship between the number of different audible instrument types and the popularity of the song.The study found that the main instrument combinations in top songs were background vocals, synthesizers and either clean guitar or distorted electric guitar.Nunes indicated that the success of a song could partially be determined scientifically.“I do think that like most things in life, there is a little bit of science and a little bit of art, and to be truly successful, you have to mix the two,” he said.
[email protected] @Clay_Fowler on TwitterName: Patrick Soon-ShiongTitle: Doctor, Lakers Minority OwnerAge: 62One of the most wealthy people in Los Angeles – Soon-Shiong has a net worth of $12.2 billion – is a minority owner of the Lakers and the city’s most prime candidate to purchase a professional sports franchise, were one to come available. The South African doctor, who still regularly plays basketball on the court in his cavernous Brentwood home, graduated high school at 16, medical school at 23 and sold two pharmaceutical companies for $9.1 billion. Soon-Shiong bid on the Dodgers before they sold to the Guggenheim Group and AEG before it was taken off the market, good reason to believe he will be involved when another sports property comes available. Top 50 Most Powerful in L.A. Sports• Introduction• Photo gallery of Top 50 Most Powerful in L.A. Sports• Dramatic change in Los Angeles sports power structure Newsroom GuidelinesNews TipsContact UsReport an Error