The song “Ghost” has long been a fan-favorite of Phish fans, and many will argue that the version performed on May 22nd, 2000 is one of the best of all time. Coming towards the end of a six-song second set at Radio City Music Hall, this type of jam is striking at the reason that fans get into Phish. The band draws you in with the sing-song lyrics, then kicks into gear with some jamming. In this particular version, it’s Mike Gordon and Page McConnell that take the lead in the initial jam, a slow-building funk jam with some cosmic synth accentuation. Spacey cow funk at its finest.If it ended there, it would nonetheless be a satisfying jam. When Trey Anastasio turns on the heat about 15 minutes in, all bets are off. Anastasio is shredding until there’s no tomorrow, starting off with a pentatonic groove before riffing on some new progressions and taking the group in new directions. It’s some disco funk, somehow both ambient and energizing at once. Give the major jam session a full listen below, courtesy of astavely56.Setlist: Phish at Radio City Music Hall, New York, NY – 05/22/2000Set 1: My Soul, Chalk Dust Torture, Billy Breathes, Heavy Things, Back on the Train, Split Open and Melt, Sparkle > Horn, Bathtub GinSet 2: Bouncing Around the Room > David Bowie, Sand, The Mango Song, Ghost > Rock and RollEncore: Bug > Golgi Apparatus
Longtime Umphrey’s McGee lighting designer Jefferson Waful will part ways with the band at the end of this year. The news comes in the form of a letter from the band titled “A New Chapter For Jefferson Waful.” You can read the note below:For over ten years Umphrey’s McGee has been incredibly fortunate to have Jefferson Waful as our lighting designer. His inventive style, improvisational acumen, and keen eye for detail has added a valuable dimension to the UM live experience, both for band and fans alike. With our sense of gratitude for all that he has contributed, Jefferson will be retiring from touring at the end of 2019. He will forever be part of the Umphrey’s family.We will begin the search to fill Jefferson’s shoes shortly and are excited for what 2020 will bring. Join us in thanking Jefferson for all that he has added to the UM experience, and we wish him nothing but success on the next chapter of his distinguished career.– Andy, Brendan, Jake, Joel, Kris, & Ryan The note from the band also includes a quote from Jefferson Waful reflecting on his time with Umphrey’s McGee:This has been a once-in-a-lifetime experience that I will always cherish. I am incredibly lucky to have fulfilled a dream and grateful to Umphrey’s McGee for giving me this opportunity. Of course none of it would be possible without such a passionate and loyal community of fans. From the bottom of my heart, thank you.– Jefferson Waful Waful has long been lauded as one of the most talented LDs in the game. Whomever Umphrey’s gets to fill his role will have some major shoes to fill. Good luck with whatever’s next, Waful!Watch Jefferson Waful work his magic in the video below:Umphrey’s McGee – “1348” – The Tabernacle – 12/29/12[Video: Umphrey’s McGee]You can also watch a picture-in-picture video of Waful doing his thing at The Capitol Theatre below courtesy of mkdevo:Umphrey’s McGee – “Der Bluten Kat” – Jefferson Waful PiP – 10/21/17[Video: mk devo]
tourism officials are expecting an excellent summer travel season and will launch an aggressive marketing campaign in major metropolitan markets to draw more visitors to the state. Commissioner Bruce Hyde pointed to the continued steady performance of the Rooms and Meals tax as one of the positive indicators of the strength of Vermont’s tourism industry, despite the current economic climate. Rooms and Meals tax revenues to date for fiscal year 2009 are down by only 3 percent compared with the same period in 2008, a year that had the largest increase in those revenues in a decade. Hyde said Vermont continues to outperform national travel statistics. Vermont is also expected to experience a boost in visitor travel this summer during the 2009 Lake Champlain Quadricentennial, which marks the 400th anniversary of Samuel de Champlain’s exploration of the region. More than 100 events, exhibits and programs are scheduled for the Quadricentennial around the state.According to the Vermont Department of Tourism and Marketing, visitors made a total of 14.3 million trips to Vermont in 2007. Thirty-three percent of those visitors came during the summer, making it the busiest time of the year in terms of total visitors. Total direct spending by visitors adds an estimated $1.61 billion to the Vermont economy annually and supports more than 37,490 jobs for Vermonters.The Vermont Department of Tourism and Marketing will kick-off its summer marketing campaign in Boston, New York, Montreal and Vermont next month. The campaign will promote Vermont primarily through radio stations, online advertising, and out-of-home signage in train and subway stations.“We certainly expect the summer season to be a strong one for tourism,” said Commissioner Hyde. “Many people are planning to travel closer to home this summer because of the economy, and Vermont is well-positioned geographically because it is within a 300-mile radius of more than 80 million people.”
Governor Jim Douglas announced today that 42 Vermont arts organizations have been awarded funding totaling $606,000 through the American Recovery and Reinvestment Act (ARRA). These grants will help preserve jobs in Vermont s nonprofit arts sector that have been threatened by declines in philanthropic and other support during the current economic downturn. The American Recovery and Reinvestment Act is designed to jumpstart the economy, create and protect jobs, and invest in key priorities, said Governor Douglas. Like other jobs, arts jobs help individuals and families pay household expenses, put children through college and achieve financial stability.Through ARRA, the National Endowment for the Arts (NEA) received $50 million to help restore and preserve jobs in the nonprofit arts sector. As partners of the NEA, state arts agencies and regional arts organizations like the New England Foundation for the Arts, played an important role in advancing the goals of this program. 40 percent of the $50 million was distributed directly to the state and regional arts organizations.The Vermont Arts Council received $250,000 to support and preserve jobs in Vermont s non-profit arts sector. Some arts organizations were eligible to apply directly to the NEA and/or to the New England Foundation for the Arts (NEFA) for this funding. If approved by one or more grant-maker, the applicant had to choose one. Sixteen Vermont Arts organizations were eligible to apply directly to the NEA. Of these, eight were funded for a total of $341,000. Vermont and Iowa ranked highest in the percentage of applicants funded at 50 percent, though Iowa only had eight applications. Two Vermont organizations applied directly to NEFA and one was funded for $15,000. Non-profit arts organizations contribute to economic revitalization not only by employing workers, but also by stimulating commerce, enhancing property values, generating tax revenues and helping communities retain their vibrancy. As of January 2009, Vermont s cultural sector included more than 2,150 arts-related businesses employing at least 6,780 people, and these grants will help this important segment of our economy weather this recession, Douglas continued.This year we have employed more than 75 artists from Lamoille County, paid thousands of dollars in payroll taxes while providing after school, elder and day care arts programs – as well as festivals and shows. We’ve worked with college interns, folks doing community service, Reach Up and vocational training, said Steve Ames, Executive Director River Arts in Morrisville. This grant allows us to rehire a program director and leverage that position to hire many more artists to deliver arts programming in Lamoille County. It will keep our mission to Enrich the Community through the Arts alive and well. The Stimulus funds enable us to continue staff and programs at current levels and to add back an important artist residency. Both are hugely important to Burlington s downtown economy and the quality of life of the region, said Andrea Rogers, Executive Director and CEO, Flynn Theater, BurlingtonThe Arts Council created Art Jobs, a competitive grant program to help the state s arts community weather the immediate economic storm while continuing to fulfill artistic and public service goals. Non-profit arts organizations were invited to apply for one-time grants to support staff salaries, as well as artist or consultant fees. Organizations with annual operating budgets under $150,000 could apply for up to $5,000, and those with budgets of $150,000 or more could apply for up to $10,000. The Council received 92 applications totaling $729,650 in requests.Source: Governor’s office. Aug, 5, 2009
continue reading » The National Credit Union Administration’s recent proposed rule on federally insured credit union combinations with banks and other non-credit unions would establish new corporate governance rules for these transactions if it is finalized.NCUA already has similar rules for mergers of a FICU with another credit union, for mergers of a FICU into a bank, and for conversion of a FICU to a mutual savings bank or to a privately insured credit union, but the agency has not previously established regulations applicable to credit unions acquiring non-credit unions.These combinations most commonly involve a credit union acquiring a bank or some of the bank’s branches through a purchase and assumption transaction where the credit union purchases the bank’s assets and assumes its liabilities in the functional equivalent of a merger.If finalized as proposed, the new NCUA rule would require directors of federally insured credit unions to vote on whether to go forward with a credit union’s proposed combination with a non-credit union, meaning that the decision to acquire a bank could not be made by the credit union’s management alone. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters
Solvency II will have a diminishing impact on the price of pension de-risking and eventually boost UK insurance companies’ appetite for deals by up to £5bn (€7bn), LCP has predicted.Contrary to previous estimates by PwC that the price of buyouts could increase by up to 10%, the consultancy predicted the cost of passing on pensioner risk would remain broadly unchanged, while there would be an average increase of 3% when covering the risk of non-pensioner cohorts.However, in its 2015 report on pensions de-risking, LCP said the increased price would vary depending on the insurance company and argued its impact would diminish as insurers modified their new capital requirement models.The report went on to say that next year’s introduction of Solvency II brought several years of uncertainty to a close. But it said that the “more favourable” outcome would help grow the UK de-risking market.The buy-in and buyout market has, nevertheless, already exceeded £10bn this year, compared with £13.2bn of policies written in 2014.The longevity swap market saw a notable decline, from £21.9bn to £9.3bn, but 2014’s figures were boosted by the BT Pension Scheme’s completing a £16bn deal, the single-largest de-risking deal in UK history.LCP predicted a £5bn increase in insurance capacity in 2016, driven by the clarity created by Solvency II’s introduction but also by the entry of two new providers into the market.Scottish Widows last month completed its first deal, a £400m buy-in for Wiggins Teape, while Canada Life in October announced details of its first, £5m deal.Charlie Finch, a partner at LCP, said the increased level of competition would be beneficial to pricing in 2016.He added: “All the ingredients are now in place for the market to break more records and provide cost-effective solutions to help pension plan trustees and companies transfer risk at affordable prices.”But Finch said pension funds would need to compete for capacity with insurers transferring historic annuity business to other insurers.“The delicate balance,” he said, “between supply and demand means that, despite the increase in insurer capacity, demand could quickly outpace supply, especially if investment markets improve pension plan funding levels.”
Almost 5m UK public service pension savers are in plans that do not have a complete set of basic governance features in place, the Pensions Regulator (TPR) has warned.Although 58% of the 191 schemes that responded to TPR’s annual governance survey – out of a possible 207 – have all of its key processes (see below) in place, 29% have yet to adopt them fully, the regulator added.As a whole, the sector provides pensions for more than 16.7m civil servants, teachers and other local government workers, including the police, armed forces and members of the judiciary.Speaking at the annual Pensions and Lifetime Savings Association (PLSA) local authority conference in Gloucestershire this week, Lesley Titcomb, TPR’s CEO, said the annual survey had found “a number of gaps around good governance”. It was not all bad news, she said: “We’ve been able to see significant improvement fairly quickly around data management, communications and internal controls.”The Local Government Pension Scheme – which accounts for a significant portion of the UK’s public sector pension system – was a leader in terms of governance standards, Titcomb said, and urged conference attendees to “stay ahead of the pack”.According to TPR’s public service governance and administration survey, more members received their annual benefit statement on time in 2017, with 60% of schemes meeting deadlines – up from 43% in last year’s survey.However, TPR expressed “doubts about the commitment shown towards scheme governance”. The report revealed that 43% of schemes held fewer than four meetings a year between scheme staff and pension boards.“We don’t think that provides sufficient opportunities for pension boards to effectively carry out their role,” Titcomb told the conference.Many schemes had “solid governance processes in place”, she said, “and we would like to see all adopt robust systems, which need to be operated, adhered to and maintained”.Titcombe said it was “disappointing” that monitoring record-keeping remained problematic. “Compliance remains patchy,” she added.Almost a fifth of legal breaches last year among public service pension schemes were caused by a failure to maintain records or rectify errors.In her closing remarks to the PLSA conference, Titcombe emphasised that the regulator wanted to be “a critical friend and not a wagging finger”.“But if it’s needed, we will be tougher,” she warned. “We will not shy away from punitive action when it is required.”The Pension Regulator’s six defined contribution principlesPrinciple 1: Essential characteristicsSchemes are designed to be durable, fair and deliver good outcomes for membersPrinciple 2: Establishing governanceA comprehensive scheme governance framework is established at set up, with clear accountabilities and responsibilities agreed and made transparentPrinciple 3: PeopleThose who are accountable for scheme decisions and activity understand their duties and are fit and proper to carry them outPrinciple 4: Ongoing governance and monitoringSchemes benefit from effective governance and monitoring through their full lifecyclePrinciple 5: AdministrationSchemes are well administered with timely, accurate and comprehensive processes and recordsPrinciple 6: Communications to membersCommunication to members is designed and delivered to ensure members are able to make informed decisions about their retirement savingsSource: The Pensions Regulator
Via Outlets’ valuation has dropped by 4.2% since the start of the year to €1.55bnAPG – which founded Via Outlets in 2014 together with Hammerson – has a more practical reason for acquiring Hammerson’s stake.“Hammerson needed to strengthen its balance sheet because of the coronavirus crisis. Issuing additional equity is an option in such a situation, but we don’t like watering down our stake as we already were the largest shareholder in Hammerson, owning 19.6% of the company,” Foortse explained.In the end, APG and Hammerson agreed to the sale to limit Hammerson’s need to raise additional capital. The real estate developer’s other shareholders will still have to give the deal the go-ahead in September, however.Separately, APG will buy additional equity in Hammerson for €120m, so its equity interest will remain unchanged at 19.6%.Foortse, who said APG acquired the additional stake in Via Outlets at a discount, is open to expanding the Via Outlets portfolio of 11 shopping centres in the future, but added that this is “not a priority”.He believes coronavirus-related problems will not prevent the company producing the expected annual return of 11% per year, 5.5% of which consists of rental payments.The other half is expected to come from an increase in the value of the shopping centres, Hammerson said back in 2014. Whether this is still a realistic expectation in times of a pandemic, is uncertain.APG declined to comment on the return prospects for Via Outlets.To read the digital edition of IPE’s latest magazine click here. APG, the Dutch pension asset manager, has increased its 50% stake in Via Outlets, an operator of 11 large shopping outlets in Europe, to 98%. It agreed to support its joint venture partner, UK real estate company Hammerson, financially by buying up the bulk of the latter’s stake for €301m at a price “below market value”, according to APG.Hammerson will retain one outlet, in the German town of Zweibrucken.The shopping centres were affected badly by the coronavirus crisis in the first half of this year as seven of them were closed completely while many shops in the other centres that remained open were also closed or had only a few visitors.The rent that shops located in the outlet centres pay is based mainly on store revenues, which, as expected, have plummeted during the crisis. As a result, Via Outlets’ valuation has dropped by 4.2% since the start of the year to €1.55bn.But APG’s head of European real estate Robert-Jan Foortse is optimistic the tide has already turned as visitor numbers have been on the rise since June.“The long-term strategic advantage of outlets compared to other bricks and mortar stores remains intact,” he said. “This really is a different segment than main street stores where you pay the full price for more expensive brands. In the outlets, consumers can get discounts of 30-70%. The fact that they like this has been confirmed by the rising visitor numbers we’ve seen over the past few years.”And shopping centres are also of interest to upscale brands such as Tommy Hilfiger and Calvin Klein, Foortse noted. “It gives them an additional retail channel to sell their excess stock. This will not be sold in an industrial hall but in a nicely decorated shopping village instead,” he said.
The judge pointed out that twocommercial cases are related to the case, considering that it has the sameparties, and the same issues, pending before RTC Branch 53, the designatedcommercial court, under Acting Presiding Judge Eduardo Sayson. (With PNA/PN) Yanson alleged that the four committedserious unfair labor practices aimed at destabilizing the operations ofVallacar Transit in Bacolod last July 14. In the order, Rojo said that laborarbiters no longer have the authority to issue writs of preliminary injunctionand/or temporary restraining orders, and their role is only limited toreception of evidence as may be delegated by the NLRC. “We find merit to the motion of therespondents,” he said. Labor arbiter Ivanhoe Rojo of theRegional Arbitration Branch 6 granted the motion to dismiss the case againstthe respondents in his four-page order dated Sept. 10, copies of which were providedto reporters here on Thursday. He also noted that although VallacarTransit was named as complainant, Yanson did not have a verified certificationattesting that he is authorized by the corporation and a board certificationgranting him such authority. “The fake strike aims to impugn theauthority of the bus management and create an impression that employees are notsupporting the new management,” Roy said. The incident took place a week after Roywas voted by his three siblings as president of VTI after ousting their youngerbrother, Leo Rey. Named respondents were PACIWU VallacarTransit Chapter president Franny Santarin, executive vice president Rey de laTorre, and board members Juvy Diama, and Raymond Roldan. The complaint, which also included aprayer for the issuance of a temporary restraining order, was filed by VTI andowner Roy Yanson against the ranking officers of the Philippine Agricultural,Commercial and Industrial Workers Union-Trade Union Congress of the Philippines(PACIWU-TUCP) on July 17. BACOLOD City – The National Labor Relations Commission (NLRC) here hasdismissed the complaint of unfair labor practice filed by one of the owners ofVallacar Transit Inc. (VTI) against the bus company’s four union leaders. Moreover, Yanson did not have acertification against forum shopping and filed the complaint without goingthrough the mandatory conciliation-mediation proceedings, Rojo added. Policemen secure Ceres buses at the Dynamic Builders compound in Barangay Alijis, Bacolod City. ARCHIE REY ALIPALO/PN Vallacar Transit, with main headquartersin Barangay Mansilingan here, is the main subsidiary of the Yanson Group of BusCompanies, the country’s biggest bus operator, with a fleet of 4,000 buses and18,000 employees. Meanwhile, the Regional Trial CourtBranch 45 here earlier dismissed for lack of merit the petition for injunctionfiled by Roy and his siblings Emily, Ma. Lourdes Celina, and Ricardo Jr. tostop Leo Rey from continuing to act as VTI president. “The filing of the instant petitionsquarely falls under the definition of forum shopping,” said Presiding JudgePhoebe Gargantiel-Balbin in her order dated Sept. 24. He said that the four entered the CeresBacolod North Terminal around 3 p.m. and “tried to coerce several of their busdrivers and conductors to disrupt bus services for more than three hours”.