Share to Twitter Share to Linkedin (Photo by Jessica Rinaldi/The Boston Globe via Getty Images) Billionaire casino magnate Steve Wynn resigned from his eponymous company, Wynn Resorts, on Tuesday evening amid a swirl of sexual misconduct allegations. The decision to distance himself from the company comes after dozens of people who have worked for him in the last several decades have come forward with claims of inappropriate behavior. "In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity," said Wynn, 76, in a statement. "As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles." Wynn, who is behind many of Las Vegas' most iconic properties such as The Mirage, Treasure Island and Bellagio, has denied the allegations and … [Read more...] about Billionaire Steve Wynn Resigns As CEO Amid Sexual Misconduct Allegations
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Insurance Company Launches Coverage For Marijuana DUIs
Share to Twitter Share to Linkedin Cannabis consumers can protect themselves from unreliable police methods to determine impairment with new insurance coverage that provides financial and legal protection for those charged with driving under the influence of marijuana. The new insurance product from Salt Lake City-based Reepher launched this week in Missouri, with a nationwide rollout ultimately expected. Justin Kahn, CEO and co-founder of Reepher, noted in a statement from the company that drug tests for marijuana do not indicate if a person is high. Instead, the tests detect the presence of cannabis metabolites, which can remain in the system for weeks after ingestion, particularly for frequent users. “Unlike alcohol, there is currently no chemical test for cannabis impairment. THC and cannabis metabolites stay in your system and can trigger positive drug test results in sober drivers,” Kahn said. “This means that a regular cannabis consumer is likely to … [Read more...] about Insurance Company Launches Coverage For Marijuana DUIs
Cover Story: A litany of controversial deals
This article first appeared in The Edge Malaysia Weekly, on May 9, 2022 - May 15, 2022. - A + A BECAUSE military spending has always been shrouded in secrecy, companies involved in the industry are used as conduits to channel kickbacks that go undetected. It is no different with Lembaga Tabung Angkatan Tentera (LTAT) and its subsidiary Boustead Holdings Bhd (BHB), two companies that are major beneficiaries of Malaysia’s defence spending. The defence business is carried out via Boustead Heavy Industries Corporation Bhd (BHIC), in which BHB has a 65% stake. LTAT directly owns 8.16% of BHIC. In the last 15 years, more often than not, the Boustead Group and LTAT were in the limelight for facilitating deals seen largely as not “commercially driven”. From procurement of submarines to land and traffic surveillance systems, LTAT and BHB have been used as vehicles to buy assets at inflated prices. Mainly, the assets are linked to connected individuals. One … [Read more...] about Cover Story: A litany of controversial deals
Cover Story: Tribulations of the LCS project
This article first appeared in The Edge Malaysia Weekly, on May 9, 2022 - May 15, 2022. - A + A IT is no secret that the RM9 billion littoral combat ship (LCS) project awarded to Boustead Heavy Industries Corp Bhd’s (BHIC) subsidiary 11 years ago has been beleaguered with cost overruns and delays, without a single vessel delivered to date. But how did the situation turn so bad, considering that the project — which has already received RM6 billion in progress payments from the government — has threatened the solvency of BHIC’s parent company, Boustead Holdings Bhd (BHB), and is a major investment of Lembaga Tabung Angkatan Tentera (LTAT)? On Dec 16, 2011, Boustead Naval Shipyard Sdn Bhd (BNS), in which LTAT has an effective stake of 61%, received a letter of award from the Ministry of Defence to deliver six LCS dubbed “Second Generation Patrol Vessels Littoral Combat Ships (Frigate Class)” as part of its fleet renewal plan. BNS was supposed to deliver the … [Read more...] about Cover Story: Tribulations of the LCS project
Comelec endorses mobile phone sales jump caused by vote-buying to PNP
The Comelec head office at the Palace del Gobernador in Intramuros, Manila. (File photo from Philippine Daily Inquirer) MANILA, Philippines — The Commission on Elections (Comelec) has endorsed the issue of increased mobile phone sales allegedly induced by massive vote-buying to the Philippine National Police (PNP). Commission on Elections (Comelec) acting spokesperson, Atty. John Rex Laudiangco, said Thursday that the PNP’s involvement in the investigation is separate from the effort of the National Telecommunications Communication (NTC) as well as the Armed Forces of the Philippines (AFP) to get to the bottom of the matter. “Also, for the last [Committee on the Ban on Firearms and Security Concerns] meeting, we have likewise endorsed to the PNP ‘yung (the) issue po ng (of) escalation ng (on) purchases ng (of) mobile phones sa (in) Surigao del Sur at sa (and in) Agusan del Sur,” Laudiangco said in a press briefing. “So, not only is the NTC looking on it, but also the [Armed … [Read more...] about Comelec endorses mobile phone sales jump caused by vote-buying to PNP
MC Interview | Employee loyalty doesn’t exist, the contract between a company and employee is now very short: Shiv Shivakumar
The lifespan of companies is shrinking – to 18 years now from 90 years in 1935, says Shiv Shivakumar, group executive president, corporate strategy, at the Aditya Birla Group. In an interview with Moneycontrol , he said in the future, some legacy companies and those that have been around for 10-15 years will likely be bought over or close down. Shivakumar, who recently wrote a book on career and management titled The Art of Management, said employee loyalty no longer exists and the contract between a company and an employee is now very short. The only thing that’s permanent is learning and the ability to look ahead. Managers must communicate at all times, advises Shivakumar, who was formerly chairperson of PepsiCo Holdings in India and CEO of emerging markets at Nokia. The young workforce will not respect age – they will respect relevance and impact, he said in the emailed interview. Edited excerpts: You’ve said in your new book that careers have changed … [Read more...] about MC Interview | Employee loyalty doesn’t exist, the contract between a company and employee is now very short: Shiv Shivakumar
Why All Employers Should Pay Attention to This New Employee Monitoring Law in New York
As if you need another reason to avoid spying on your employees. New York Governor Kathy Hochul signed a civil rights law last November directing private employers to notify employees if they're being monitored. The law, which went into effect earlier this month, may hold ramifications for employers more broadly, if other local lawmakers follow suit. Connecticut already hosts a similar measure, where employers in the state must issue written notice to employees if they're being electronically monitored. Per the New York monitoring law, private employers must issue a notice in a "conspicuous place" that conveys their monitoring practices to their workforce. Any new hires must receive a written notice and acknowledge receipt of said notice. The New York law focuses on target monitoring--for instance, reading emails or web browsing history--but general network services or cybersecurity tools fall beyond the scope of the law, according to Mark Francis and Sophie … [Read more...] about Why All Employers Should Pay Attention to This New Employee Monitoring Law in New York
White House Apologizes To Democrats For Following The Law
The White House attempted to assure Democratic lawmakers Tuesday that it recognized the negative impacts of its ongoing investigation into the solar industry, Axios reported. Top White House officials, including National Economic Council Director Brian Deese, made the assurances during a conference call with nine Democratic senators, according to Axios. Deese and the other officials reportedly told the Democrats that the probe’s impacts were a “core issue of energy and economic security, as well as a supply chain issue.” In March, the Department of Commerce opened the investigation into whether dominant Chinese solar panel makers had routed products through four southeast Asian nations — Cambodia, Malaysia, Thailand and Vietnam — to circumvent Obama-era tariffs. Pro-tariff groups backed the investigation, which was requested by small California-based solar panel maker Auxin, arguing the alleged circumvention harmed American industry and jobs. “The White House should stand … [Read more...] about White House Apologizes To Democrats For Following The Law
HART: How To Lose Control Of A City
Having lived in Birmingham, AL, Columbia, TN, Memphis, Washington, D.C. New York City, Atlanta and the Florida Panhandle, I can tell you what makes a city good as well as how you lose a city to thugs and the crime they produce. It starts with the mayor and an honest city council backing a well-intentioned police force and DA. If the DA is not Soros-funded and political, that is important. Think the Duke lacrosse team prosecutor or the recent other Democrat DA (Funk) in the Nashville area who went after a Vanderbilt nurse for murder in what was a simple civil case of bad judgement. Uneven prosecution by politically motivated DAs, like the Atlanta embarrassment Paul Howard practiced, hurts a community. The first sign that police have lost control of your town is when loud mufflers and vulgar music blaring from cars goes unaddressed. What follows is inevitable “street racing” and crime. It is up to citizens and voters to report and hold to account officials for enforcing laws … [Read more...] about HART: How To Lose Control Of A City
Black water still flowing into ocean at Phuket’s Kamala Beach
A popular Facebook page has posted a video and photos this week of black, dirty water flowing into Phuket’s Kamala Beach on the island’s west coast. The page, titled Monsoon Garbage Thailand, claims that the dirty black water was released from nearby businesses without any treatment. The Phuket Express reports that local business owners and government representatives have not yet responded to Monsoon Garbage’s claim. The photos and video, however, have gotten some shares, along with angry reactions and comments. The dirty water has been flowing along that klong for decades. The development of hotels and clubs along the same foreshore over the past decade has just exacerbated the problem with residents constantly complaining about the smell and bad visuals of the filthy stream of water openly flowing onto the beach. Read this editorial on the matter from 2017 HERE . Monsoon Garbage tagged the Minister of Natural Resources and Environment Varuvat Silpaarcha in the post, … [Read more...] about Black water still flowing into ocean at Phuket’s Kamala Beach