City Hall, the iconic Tribune Tower and the Alameda Superior Courthouse were festively lit as the Warriors continue their series … See drone views of downtown Oakland Warriors lights.Click here if you’re unable to view the video or photo gallery on your mobile device.Downtown Oakland’s landmark buildings are decked in blue and gold as the Golden State Warriors take on the Toronto Raptors in their fifth straight NBA finals. They have won three of the last five championships so far.
12 August 2010Steelmaker ArcelorMittal South Africa has announced a black economic empowerment deal worth over R9-billion that will see a 26% stake in the company being sold to the Ayigobi Consortium and a share trust that represents 8 500 of the company’s employees.In a statement this week, ArcelorMittal says the transaction fulfils key objectives, including moving toward compliance with legislated empowerment equity ownership requirements and positioning the company for future opportunities to achieve improved self sufficiency and growth.“Introducing broad-based BEE shareholders to our operations has been a priority for ArcelorMittal South Africa for some time,” said ArcelorMittal South Africa CEO Nonkululeko Nyembezi-Heita.She said the company started looking at the possibility of an empowerment transaction in 2008, but that the global economic downturn made it impossible to implement a suitable transaction structure at the time. The company resumed its empowerment plans once some normality had returned to the markets.“This is a long term strategic partnership. The Ayigobi Consortium will remain a shareholder for up to 14 years, while the [employee share ownership plan] participants will benefit over a five year period,” she said.Industrial giant, catalyst for growthArcelorMittal South Africa’s new strategic equity partners will be the Ayigobi Consortium, led by Sandile Zungu. Other participants include Mabelindile Luhlabo, Mojalefa Mbete, Pragat Investments, Prudence Mtshali, Phemelo Sehunelo, Zebo Tshetlho, Zico, Oakbay Investments and Mabengela.The remaining 25% of the Ayigobi Consortium will be allocated to women, youth groups and new entrants to the BEE landscape whose composition is still being finalised.“The Ayigobi Consortium is pleased to be given the opportunity to partner ArcelorMittal South Africa. ArcelorMittal South Africa is an industrial giant that remains a catalyst to the realisation of South Africa’s inclusive economic growth and development potential,” said Zungu.“We have the requisite skills, business acumen, commercial experience and strategic networks to assist in making ArcelorMittal South Africa one of the most admired industrial leaders in South Africa and beyond.”New subsidiary createdTo effect the transaction, ArcelorMittal South Africa will transfer all its assets to a new wholly owned subsidiary, ArcelorMittal South Africa Operations (OPCO), in return for 74% of OPCO. The remaining 26% shareholding in OPCO will be 21% held by the Ayigobi Consortium and 5% by the employee share ownership plan.ArcelorMittal South Africa and OPCO will have identical boards of directors, and the Ayigobi Consortium will have the right to appoint one director to the board.“I look forward to welcoming our new partners, including more than 8 500 staff, to our business as shareholders and trust that, together, we will have a mutually beneficial relationship,” said Nyembezi-Heita.ArcelorMittal South Africa, formerly known as the Iron and Steel Corporation (Iscor), is majority owned by the world’s largest steelmaker, Luxembourg-based ArcelorMittal.SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material
He went to a party at the Team USA house in Rio, where he said multiple people handled the medal as they celebrated. Snyder said he later discovered a scratch on the back of it, though he added there has been no further damage.Snyder said he has until the end of the week to return his gold medal and has no idea when he’ll receive his replacement.“It wasn’t too big of a deal,” Snyder said. “But since they’re giving me a new one, it’s kind of cool.”Rio de Janeiro spent about $12 billion to organize the games, which were plagued by cost-cutting, poor attendance and reports of bribes and corruption linked to the building of some Olympic-related facilities.Nine months later, many of the venues are empty and have no tenants or income — with the maintenance costs dumped on the federal government. In addition to the issues with the medals, which featured the Rio and Olympic logos, the local organizing committee still owes creditors about $30 millionGreg Massialas, a national coach for the U.S. fencing team in Rio, said in a message to AP that the silver medal his son, Alex, won is damage free. He added that he hasn’t heard about any issues with other American fencers.U.S. shooter Ginny Thrasher and boxer Claressa Shields, along with men’s tennis bronze medalist Kei Nishikori of Japan, also reported that their gold medals are intact. Lakers win 9th straight, hold off Pelicans Don’t miss out on the latest news and information. South Korea to suspend 25% of coal plants to fight pollution SEA Games: PH beats Indonesia, enters gold medal round in polo Irving’s 42, LeBron’s 34 push Cavs past Celtics in Game 4 Pagasa: Kammuri now a typhoon, may enter PAR by weekend This photo provided by Kevin Snyder show Kyle Snyder’s damaged gold metal from the 2016 Rio Olympics. The medal will soon replaced by the IOC and Rio organizers because of damage. Snyder and Helen Maroulis, another U.S. gold medalist wrestler, are among a group of more than 100 athletes from around the world with defective Olympic medals. APMore than 80 American athletes have sent medals they won at the Rio Olympics to U.S. Olympic Committee headquarters to be shipped to games organizers, who will replace them due to flaking, black spots and other damage, the USOC said Tuesday (Wednesday Manila time).The Americans, including gold-medal wrestlers Kyle Snyder and Helen Maroulis, are among at least 100 Olympians from across the globe with defective medals.ADVERTISEMENT Cayetano dares Lacson, Drilon to take lie-detector test: Wala akong kinita sa SEA Games LOOK: Vhong Navarro’s romantic posts spark speculations he’s marrying longtime GF ‘Coming Home For Christmas’ is the holiday movie you’ve been waiting for, here’s why More than 5,000 measles deaths in DR Congo this year — WHO LATEST STORIES Panelo suggests discounted SEA Games tickets for students PLAY LIST 01:35Panelo 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 Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes MOST READ Beach volleyball star Kerri Walsh Jennings is also among the group; she says her bronze medal is flaking and rusting, and USA Swimming spokesman Scott Leightman said some swimmers have damaged medals as well.The USOC learned about the problems in December and reached out to all the American sports federations in January to begin the process.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSMalditas save PH from shutoutSPORTSPrivate companies step in to help SEA Games hostingRio Games spokesman Mario Andrada said officials have noted problems with the covering on 6 to 7 percent of the medals.“The most common issue is that they were dropped or mishandled, and the varnish has come off and they’ve rusted or gone black in the spot where they were damaged,” Andrada said. Sports Related Videospowered by AdSparcRead Next It’s not uncommon for medals to be passed around at post-Games parties and handled by hundreds. But this amount of damage is unusual.Walsh Jennings, who won three golds in previous Olympics, says her medals tend to get beaten up because she doesn’t hesitate to let people touch them or try them on. But she won’t consider locking them up because people are inspired by them.“They’ve offered to replace them. I’m not sure if I want to swap it out,” Walsh-Jennings told The Associated Press, adding the reason was “100 percent sentimental.”USA Basketball spokesman Craig Miller said the organization reached out to its players and seven — three men and four women — reported they believe there is an issue with their medals.Snyder, who wrestles for Ohio State, was 20 when he won his medal. He noticed an issue with the award the day after he won it.ADVERTISEMENT View comments