Dean of the Faculty of Arts and Sciences Michael D. Smith and Vice President for Alumni Affairs and Development Tamara Elliott Rogers have announced that O’Neil A.S. Outar will become the new senior associate dean and director of development for the Faculty of Arts and Sciences (FAS) effective Sept. 8.Reporting jointly to Smith and Rogers, Outar will provide strategic direction and management for all FAS fundraising efforts, including the $2.5 billion Harvard Campaign for Arts and Sciences, which launched last fall.This marks a return to Cambridge for Outar, who previously served in several fundraising roles at the Massachusetts Institute of Technology (MIT).Since 2010, Outar has led the University of Alberta’s alumni and fundraising enterprise as the school’s first vice president of advancement, building an organization that set new records in both fundraising and alumni engagement, which were critical in establishing the vital foundation to support the university’s ambitious emphasis on research, and teaching and learning.“O’Neil Outar has great vision for fundraising strategy and management and has built an impressive record of accomplishment throughout his career. I am very excited that O’Neil has agreed to bring his talents and commitment to furthering higher education to our team,” Smith said.Upon arrival at the University of Alberta, Outar aligned and integrated fundraising and alumni relations functions across the organization. In addition, he implemented data-driven and metrics-oriented decision-making models to allocate resources, inform goals, and measure outcomes. This strategic effort resulted in three years of record fundraising achievements, including an all-time record for individual donors.“O’Neil will be a great addition to the Alumni Affairs and Development senior team and to The Harvard Campaign. His deep experience and strong skills will be invaluable. My colleagues and I look forward to working with him,” said Rogers.Prior to joining the University of Alberta, Outar served in several different strategic fundraising roles at MIT. There he had extensive experience in organizing and leading major campaign initiatives, having led the work that secured some of MIT’s largest-ever donations. He recruited and managed volunteer leaders, and developed novel funding models that provided for intense investment in important initiatives.Outar’s roles at MIT included senior director of Global Initiatives, in which he spearheaded new, institute-wide activities in China and India, and increased private philanthropic support from outside the United States more than sixfold. As senior director of Institutional Initiatives — focusing on the MIT Energy Initiative, the David H. Koch Institute for Integrative Cancer Research, and the $578 million Campaign for Students — he managed the fundraising of more than $1.25 billion. During the preceding $2.2 billion Campaign for MIT, Outar served as a senior major gifts officer with a focus on Silicon Valley, managing the fundraising of more than $250 million.He has also been involved in fundraising at Tufts University, where he served as director of the Fund for Arts, Sciences, and Engineering during the $609 million Tufts Tomorrow campaign.“I am delighted to be joining a dynamic team during a pivotal time of the campaign, which will help support the amazing research, teaching, and learning being carried out across the Faculty of Arts and Sciences,” Outar said.Outar was born in Guyana and named in honor of his father’s favorite Australian cricketer, Norman O’Neill. He holds a bachelor of arts and a master of arts in urban and environmental public policy, both from Tufts University.
A sticker featuring the words “Stand Your Ground” and the image of an individual wearing a “Make America Great Again” hat was found placed on a lamp post in front of the Main Building this week. Mary Steurer | The Observer A sticker from the political group Hundred-Handers, now torn, was placed on a pole outside the Main Building.The sticker appears to be from the organization Hundred-Handers, a right-wing political group that operates through social media. The group derives its name from Greek mythology.On its Twitter page, the organization describes itself as “entirely anonymous international network of activists.” It operates through a top-down approach where a leader, referred to as the “Head,” distributes stickers featuring political slogans to its group members, known as “Hands.”It remains unknown who placed the sticker on the post.In an email, University spokesman Dennis Brown said The Observer alerted the administration to the presence of the sticker. The origin of the sticker is not currently under investigation, he added.Tags: Campus Activism, Hundred-Handers, Main Building
Well, we already know that he’s got rhythm! Garen Scribner is set to step center stage in the Broadway production of An American in Paris as Jerry Mulligan. He currently serves as headliner Robert Fairchild’s alternate in the role. Fairchild will play his final performance on March 13 at the Palace Theatre; Scribner will begin on March 15.Following his Broadway bow, Scribner will also star in the previously announced national tour of the musical. Starring opposite him on the road will be Sara Esty, who currently plays the role of Lise Dassin at select performances on Broadway.Scribner is making his Broadway debut in An American in Paris. A former soloist with the San Francisco Ballet and artist of Nederlands Dans Theater I, he is a high school graduate of UNCSA.Dimitri Kleioris, a dancer with the Royal New Zealand Ballet who can be seen on the Starz series Flesh and Bone, will take over Scribner’s track as the alternate Jerry, going on for select performances beginning the week of March 15.Directed and choreographed by Christopher Wheeldon, the tuner tells the tale of a young American soldier, a beautiful French girl and an indomitable European city, each yearning for a new beginning in the aftermath of war.An American in Paris features music by George and Ira Gershwin with a book by Craig Lucas. The show includes the songs “I Got Rhythm,” “‘S Wonderful,” “But Not For Me,” “Stairway to Paradise,” “Our Love Is Here To Stay,” “They Can’t Take That Away” and orchestral music including “Concerto in F,” “2nd Prelude,” “2nd Rhapsody” and “An American In Paris.” The score has been adapted, arranged and supervised by Rob Fisher.The cast currently includes Leanne Cope, Veanne Cox, Jill Paice, Brandon Uranowitz and Max von Essen. Related Shows View Comments Garen Scribner An American in Paris Show Closed This production ended its run on Oct. 9, 2016
FacebookTwitterLinkedInEmailPrint分享Recharge:The price of offshore wind power has plunged by a third in just a year, said analysts at BloombergNEF, as its latest benchmark prices for new projects also tracked lower onshore wind and solar cost-of-energy as equipment prices fell.New-build offshore wind has seen the fastest cost fall of any renewable energy source, according to BNEF’s second-half 2019 global benchmark price of $78/MWh – down 32% on the same stage in 2018 and 12% from the first half of the year. “New offshore wind projects throughout Europe now deploy turbines up to 10MW, unlocking Capex and Opex savings,” said the research group. European auctions are now contracting projects into the 2020s on a zero-subsidy basis or at rates below $50/MWh, as seen in the recent UK CfD round, while the turbine sector continued to up-size with the completion of the first 12MW Haliade-X this month.BNEF’s onshore wind benchmarks of $47/MWh for new-build onshore wind and $51/MWh for PV projects are down 6% and 11% respectively from the first half of 2019, which the researchers said is “mainly down to cheaper equipment” with a 7% average decline in wind turbine prices since last year.The research group suggests some ultra-low prices are achievable for “best in class” renewables projects financed this half in some geographies. In Brazil, India, Mexico and Texas it reckons costs can reach $26-31/MWh for onshore wind, while PV will get as low as $27/MWh in India, Chile and Australia.Storage has also seen a cost decline, said BNEF, estimating $186/MWh for battery storage with four-hour duration, down 35% since early 2018.More: Offshore wind power price plunges by a third in a year: BNEF BNEF: Costs for offshore wind, battery storage have dropped sharply in past year
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Moscow, RussiaCredit: Mistery08/Pixabay It was brought in to reduce federal budget transfers to the PFR, with the most recent freeze expected to save the state around RUB551bn (€8bn).For the NPFs, which now manage the greater portion of second-pillar savings, asset growth potential remains restricted to investment returns and acquiring more of VEB’s clients – the so-called ‘silent ones’ who had ended up with the state-owned manager by default.The NPFs’ client base has grown by 15.1% year-on-year to 34.4m as of the end of September, according to Bank of Russia (CBR) data, while assets rose by 14.9% in Russian rouble terms to RUB2,410bn.VEB’s pensions savings net assets, meanwhile, fell by 5.6% to RUB1,787bn.The returns on VEB’s extended portfolio, however, gained 8.5% for the first nine months of 2017, outperforming the NPF average return of 4.9%.For individual pension savers the series of moratoria will lead to inadequate second-pillar pension pots.There are third-pillar occupational pensions, with some 5.7m savers enrolled in schemes managed by NPFs, but they tend to be offered by the larger companies that can afford them.Last year the CBR and finance ministry unveiled the Individual Pension Capital (IPC) scheme of auto-enrolled employee-funded pensions savings for the start of 2019 but,as reported previously , this project has been postponed.Although the IPC’s architects had to yield to the labour and social protection ministry, and switch from an ‘opt-out’ to an ‘opt-in’ enrolment, there remained too many unresolved legal and technical disagreements.As a result, draft legislation has been put off until the end of next year. The moratorium on pensions contributions to Russia’s mandatory second pillar will be extended to 2020 following the third and final reading of the bill by the country’s lower house.The bill still needs the approval of the upper house and the president.Since 2002, 6% of the 22% annual employer-paid social security contribution has been diverted to a funded system, managed by private non-state pension funds (NPFs), state-owned Vnesheconombank (VEB) or by private asset managers, for the first-pillar Pension Fund of the Russian Federation (PFR).The moratorium, first introduced in 2014 and extended each subsequent year, sent the full social security amount to PFR.
Credit: Patrick FrostNiina Bergring addresses delegates in Dublin“We are actually co-insured, and that is why the integrity is so high because the beneficiary faces no risks whatsoever. The system is carrying the risk,” she said. “These pension assets are also guaranteeing the Finnish AAA [credit] rating, so it is of national importance that we are shipshape.”The pension insurers compete against each other for their employer clients, who can theoretically change provider every quarter, she added.This competitive situation, according to Bergring, led to insurers having to make sure that their quarterly returns were as attractive as possible.Because of extremely low solvency levels in the first quarter of 2009, the Finnish pension insurers were only able to tolerate equity weightings of between 11% and 19%, while other pension providers and funds in neighbouring Sweden had been free to hold more than 30% of their assets in shares at that point.This forced short-termism showed up as a slight inefficiency over a 10-year timescale, Bergring said, but added that nevertheless, as a whole the system had succeeded. “There are lots of beautiful things in the system which we don’t have time to go into, but it does require this solvency system that unfortunately is pro-cyclical,” she said.“The actuaries have done a good job optimising the parameters of the solvency system, I believe, and in the really long term, I believe we can provide the returns the system needs.” The CIO of Finnish pension insurer Veritas has praised her country’s unique earnings-related pension system – despite its short-term pro-cyclical tilt.Niina Bergring, CIO and deputy chief executive of the €3.2bn provider, told IPE’s conference in Dublin last week that Finland’s system experienced “suboptimal” periods but, over the long term, it was “optimally crafted”.Bergring was responding to a question from IPE editorial director Liam Kennedy in a panel discussion about regulatory action taken during the last financial crisis to relax pressure on Finland’s pension insurers – the largest of which are Ilmarinen and Varma.“The Finnish regulator did change the solvency rules in the deepest dip of the crisis, because all of the companies were near regulatory limits,” she said. Finland’s competing insurers are effectively forced to stay close to each other in terms of their asset allocation, she explained, because of the way solvency requirements are calculated.
‘Going concern’ Norwegian marine seismic data provider SeaBird Exploration sank from a profit to a loss during the second quarter of the year amid weak seismic market demand. SeaBird is in urgent need of capital, otherwise it might be facing liquidation.During what the company says was a challenging quarter, SeaBird recorded a loss of $11 million compared to a profit of $0.1 million in the second quarter of 2016.Impacted by lower utilization, SeaBird’s revenues decreased during the second quarter of the year to $2.6 million compared to $22.2 million in the corresponding period of 2016.Namely, SeaBird recorded a 18.4% active vessel utilization during the second quarter of 2017 with one vessel working in the Europe, Africa and the Middle East (EAME) region and one vessel completing a project in the North and South America (NSA) region early in the quarter. The seismic player explained that the low utilization was due to delayed discussions on a number of surveys under review. This compares to 36.4% in the first quarter of the year. Year over year, this compares to 75% contract utilization and 7% multi-client.Seismic tender activity has picked up in 2017 relative to 2016, but contracting lead-time remains long with substantial competition and high market uncertainty.During quarter two, the company implemented a further reduction in onshore headcount and a complete conversion of all offshore crew contracts to flexible voyage contracts. SeaBird continues to evaluate and execute savings initiatives to reduce the its overall cost level and this may include temporary stacking of additional vessels.“We observed a significant pick-up in requests for quotes in the beginning of the year. Still, the third and fourth quarter 2017 revenues are expected to be negatively impacted by slow contract award lead times resulting in idle periods as well as the potential re-positioning of vessels before start-up of new projects,” the company said. Several factors, including the continued very challenging market conditions, low cash balance, limited working capital, low level of firm contract backlog and negative cash flow development for the second half of the year, create a material risk to a going concern assumption. SeaBird said it is in urgent need of equity financing in order to enable the company to continue trading as a going concern and avoid initiating voluntary liquidation procedures in Cyprus. In the event that new financing cannot be raised, new backlog cannot be secured on satisfactory rates or at all, project performance is significantly worse than expected or contracts and other arrangements in respect of the employment of SeaBird’s vessels are cancelled, or significantly delayed, the company would need to sell assets or raise additional financing, which may not be available at that time.SeaBird is working with its financial advisors to raise additional capital. Still, no firm commitments are currently in place. Alternatives may exist to sell or otherwise monetize certain assets, but the ability to sell or otherwise monetize assets, being primarily made up of owned vessels, would require consent from lenders as all such assets are held as security for loan arrangements, and may therefore not be available within a short time frame or at all.Should none of these financing arrangements be available at that time, such circumstance would have a significant negative effect on SeaBird’s financing situation and its ability to continue operations. In such a scenario, the company would be unable to meet its liabilities as they fall due and to continue as a going concern. In such event, SeaBird would be unable to realize the carrying value of its property, plant and equipment, whose values on a forced sale basis would be significantly lower than their carrying values. Furthermore, goodwill and intangibles would be written off as their carrying values largely represent their values in use.The company emphasized it is working closely with its financial advisors to evaluate financial alternatives and raise additional capital. The restructuring of the company’s debt and lease obligations has been completed subsequent to quarter end. Any issue of further equity capital is likely to result in substantial dilution to existing shareholders. There can be no guarantee that sufficient additional financing is available in a timely manner, and the absence of additional financing would have the effect that the company will be unable to continue operations.Offshore Energy Today Staff
Lekoil, an oil company focused on Africa, has appointed the company’s new chief financial officer (CFO), effective immediately.The company said on Monday that Lisa Mitchell was appointed as the new CFO following the resignation of Bruce Burrows who decided to pursue another opportunity to better fit family circumstances.Following a one-month handover period, Burrows will be leaving the company at the end of October.Apart from Mitchell, Lekoil appointed Tom Schmitt as a non-executive director, also with immediate effect.Lisa Mitchell is a certified practicing accountant who was most recently the CFO and executive director of Fastjet, a low-cost airline based at Gatwick Airport. Before that, she was the CFO at Ophir Energy where she was responsible for contributing to the overall business strategy of the company, leading the finance function – including all financial, taxation, treasury and funding issues, IR, and providing financial support for all M&A activity. She also worked with Pan Pacific Petroleum NL, GCM Resources, CSL Limited, and Mobil Oil.Tom Schmitt is the president of Hunt Refining in Alabama. Before this, he was a senior vice president with Hunt Oil Company for Hunt’s development in Kurdistan, Iraq. He began his career as a petroleum engineer with the Atlantic Richfield Corporation and also worked with Alliance-Bernstein, and the Global Research Growth Fund.Samuel Adegboyega, chairman of Lekoil, said: “Lisa and Tom are both oil and gas industry professionals with significant experience. Lisa’s knowledge of investment and capital markets, together with Tom’s mix of upstream, downstream and finance experience will benefit our board and company. The entire board would also like to wish Bruce well in his future career and thank him for his contribution to date.”Lekoil’s main revenue driver is the Otakikpo field in oil mining lease (OML) 11 off Nigeria.The Otakikpo field is adjacent to the shoreline in the south-eastern part of the Niger Delta. Production in the OML 11 is jointly developed by Green Energy International as the operator and Lekoil as a technical and financial partner.Since starting production in February 2017 at an initial rate of 5,000 bopd, production has averaged approximately 5,500 bopd through July 31, 2017.Lekoil said on mid-September that the production at Otakikpo had been raised to approximately 7,000 bopd.Offshore Energy Today staff