Industry in a race against the clock.
That is the timeframe the industry has to establish a policy that will consolidate its revenue streams before the state Government begins consideration of a new wagering licence which will come into play in 2013.
A decision by the government early last month to issue a separate wagering licence and abolish the Tabcorp and Tattersalls duopoly on poker machines has the potential to rob Victorian racing of some $80million and more annually from 2013. For an industry that last year had a revenue of $300m, that is a devastating loss.
If racing cannot maintain its present level of revenue then it is not just the thoroughbred industry that will take a hit. Last year the state Government sliced more than $125m from punters. Any shrinkage in the racing industry means heartburn through the greater economy.
Gauteng to take over running of taxi ranks from troubled industry.
The daily management of the ranks should be given to the industry to ensure discipline in the ranks, proper management and proper security,” Taaibosch said.
The taxi industry has been marred by violence, especially in Gauteng, KwaZulu-Natal and Western Cape. Taxi drivers are notorious for their reckless driving and mistreatment of customers. Incidents of drivers assaulting and abusing passengers have made headlines in Gauteng.
Last week, acting Gauteng premier Paul Mashatile announced the government would take over the management, monitoring and patrolling of taxi ranks from taxi associations to help reduce conflict and normalise the industry.
“These functions, performed by taxi associations, will now be performed by independent patrol and monitoring teams drawn from the integrated safety and security system,” said Mashatile.
Why Raiding Your 401(k) Is a Bad Idea.
Worried about such a scenario, the Financial Industry Regulatory Authority (FINRA) last week warned investors about the dangers of tapping your retirement savings for a night out on the town or the purchase of a new tech gadget.
‘Remember that with every swipe comes the real potential to wipe out a portion of your hard-earned retirement savings,’ FINRA senior vice president for investor education John Gannon said.
FINRA, an industry self-regulatory organization, said the 401(k) debit card actually is a ‘debit and credit card rolled into one.’
It acts like a debit card by allowing you to spend your own money, but unlike a normal debit card linked to a bank account, it rings up interest charges and other fees. Each transaction is a loan that must be paid back to the 401(k) account.
Revenue Management Maturing In Asian Hospitality Industry.
The program is aimed at cultivating Asia-centric leadership and bringing world-class standards to the fast-growing Asian hospitality industry. The program is accredited by the International Association for Management Education (formerly the American Assembly of Collegiate Schools of Business) and by EQUIS, the accreditation body of the European Foundation for Management Development. The Cornell-NTU collaboration is supported by the Singapore Tourism Board and the Economic Development Board, with International Hotel Management School Pte Ltd playing a lead industry role.
Successful Kiwi entrants to 2008 Tourism Industry Awards named.
The announcement of the finalists in the 2008 Tourism Industry Awards at the opening of Trenz 2008 in Rotorua featured a range of industry operators fluctuating between global corporations and tourism newcomers.
As the nation’s premier tourism trade event, the opening on Monday was a fitting occasion to honour the highest-performing Kiwi tourism operators, such as Grabaseat from Air New Zealand.
The winners are to be announced at a celebration dinner on the 5th of August, in the garden city, Christchurch. The finalists were disclosed by Acting Chief Executive of TIA, Oscar Nathan, who explained ‘We need strong, high performing businesses in all facets of our industry.’
‘All aspects of these finalists’ businesses have been closely scrutinised by a panel of industry judges – and these finalists have more than made the grade.’
Continuing the theme of sustainable tourism that has permeated all the proceedings of Trenz 2008, the awards in 2008 require entrants to demonstrate sustainability in all areas of their business activity.
Hazem Ouf appointed as president-CEO of Vicorp Restaurants.
Restaurant industry executive Hazem Ouf has been named president and CEO of Vicorp Restaurants, replacing retiring CEO Ken Keymer. Food Business Review (05/28)
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Ofwat calls for water industry to be opened up to competition.
Ofwat, the water regulator, has made the first tentative steps towards liberalisation of the water industry in England and Wales, publishing a menu of options that could lead to the break-up of the regional monopolies that have become infamous for market abuse and poor service.
In its 95-page review of the water and sewage sectors, the regulator set out its suggestions of how deregulation could proceed, and requested industry and consumer groups to respond. The report”s findings will then be fed into a government review of water competition being led by Martin Cave, a professor at Warwick Business School.
Regina Finn, the chief exec-utive of Ofwat, said: ‘Competition in the water sector may be the impetus needed for the industry to finally start modernising infrastructure, plug the leaks and stop the seepage.’
In the past two years, water companies, as monopolies guaranteed a certain income determined by Ofwat, have become a favourite of financial investors, with several of the biggest, including Thames Water, changing hands for generous prices.
Minister earmarks 200m to bridge industry skills gap.
He is to hold talks with employers next month to discuss how government and industry can prevent major skills gaps in finance, construction, science, engineering, and IT between now and 2014. Britain needs to train nearly 2 million workers in these strategic industries to remain competitive in a global marketplace.
Denham will tell employers that he is willing to take a more hands-on role by earmarking specific training funds for these industries. He will also say that he is to set aside £200m in capital spending over the next three years to support specialist facilities to train people in these areas.
Denham told the Guardian last night: ‘We are making a lot of progress, but the fact is too much of our skills training is based on a hope that employers will train people in the skills the economy will need in the medium term.
