A powerful report on Detroit’s foreclosure crisis was published in the Detroit News June 25-27. (See tinyurl.com/ncymc9f.) The articles were the product of months of investigation by reporters Joel Kurth and Christine McDonald. They document what Workers World newspaper has stated for years: The banks are responsible for the destruction of Detroit’s neighborhoods and the loss of 240,000 residents since 2005.McDonald and Kurth set out the following facts:1. More than one in three Detroit homes have been foreclosed in the past 10 years. Since 2005, 139,699 of Detroit’s 384,672 homes have been foreclosed because of mortgage defaults or unpaid taxes.2. There have been 65,000 mortgage foreclosures since 2005. This doesn’t include so-called zombie foreclosures in which lenders initiated foreclosure, and may have evicted tenants, but abandoned proceedings before they were complete. Zombie foreclosures were more prevalent in Detroit than anywhere else in the United States.3. Fifty-six percent of all mortgage foreclosures are now blighted properties or have been foreclosed again for nonpayment of taxes; 13,000 homes are slated for demolition at a projected cost of $195 million.4. Of the 84,000 properties on the city’s blight list, 76 percent are foreclosures.5. Homes sold for $22,000 on average in Detroit in 2014, down 73 percent from the peak before the housing crash and the lowest among 50 big cities. Detroit’s decline in property values cost homeowners an estimated $1.3 billion in lost personal wealth.6. Detroit’s population fell by nearly 240,000 residents from 2000 to 2010, with the bulk of the population loss occurring after 2005.How did the crisis happen?Kurth and McDonald show how mass foreclosures in Detroit were a direct product of massive subprime lending in the city. Of all mortgages written in 2005 in Detroit, 68 percent were subprime, compared to 27 percent statewide and 24 percent in the U.S.Subprime loans have interest rates at least 3 percent above benchmarks established by government and various lending indexes. In Detroit, however, the interest rates were far higher. Subprime loans were usually written with low initial teaser rates.These low interest rates would soon adjust upward to an unaffordable payment for homeowners, leading to mortgage defaults and foreclosures. Many studies have documented how people of color and women were targeted for these predatory subprime loans.In Detroit, which formerly enjoyed the highest rate of African-American homeownership of any U.S. city, $4 billion in subprime loans were written in the four years before the 2008 housing and financial crash. In Detroit, 78 percent of foreclosed homes financed through subprime loans are now in poor condition or tax foreclosed.All banks and lenders were active participants in the subprime market because the rate of profit on subprime loans when sold to investors was eight times greater than the comparable rate on traditional fixed-rate loans.Federal government and tax foreclosuresFannie Mae and Freddie Mac, government corporations operated by the Federal Housing Finance Agency, are listed as the foreclosing entity on 7,700 homes in Detroit, of which 46 percent and 58 percent are respectively blighted or abandoned.The Federal Housing Authority was listed as the foreclosing entity on 2,453 homes in Detroit, of which half are blighted or abandoned. Fannie Mae, Freddie Mac and the FHA stand behind the banks that actually foreclose on homes, with the government then paying the banks the full value of the inflated mortgage after foreclosure.McDonald and Kurth’s series demonstrates the relationship between the mortgage foreclosures occurring in 2005 to 2010 and the property tax foreclosures that predominate today. Many of the banks sold homes after foreclosure at prices tens of thousands of dollars below the loan values and thousands of dollars below the values upon which the property taxes were assessed.The purchasers of the homes, such as investors who purchased blocks of Detroit homes for a very minimal price, never paid the property taxes on these homes. Therefore many homes that originally were subject to mortgage foreclosures are now subject to property tax foreclosures as well. In the meantime, the homes remained vacant and were vandalized, and now are blighted and slated for demolition.Had the banks worked with homeowners to modify their subprime mortgage loans, or reduced the amounts owed to the true value of the homes, the homeowners and their families would have been able to stay in their homes. The spiral of foreclosures and blight could have been avoided. Rational planning, however, never occurs to finance capital, whose only interest is maximizing profit with complete disregard to the human consequences.Coalition demands moratoriumThe Moratorium NOW! Coalition to Stop Foreclosures, Evictions and Utility Shutoffs first raised the demand for a moratorium or halt on all foreclosures and foreclosure-related evictions in 2007, when the crisis was just starting to unfold.A coalition member got invited to a televised town hall meeting on Michigan’s economic crisis with liberal Democratic Governor Jennifer Granholm. The Moratorium NOW! representative explained to Granholm that under Michigan law she could declare a state of emergency and impose a moratorium to halt all foreclosures.He told the governor about the 1930s’ Michigan foreclosure moratorium that lasted for five years during the Depression. Foreclosures were banned then and courts were mandated to set payments based on families’ ability to pay. The Michigan moratorium law and similar moratoria in 25 other states were upheld as constitutional by the U.S. Supreme Court.Gov. Granholm’s response to putting a moratorium on foreclosures: “The banks wouldn’t like it.” A bill calling for a two-year moratorium was then introduced by State Senator Hansen Clarke, but it was stonewalled in the Legislature by Republicans and Democrats alike.The coalition has stated many times: Had a moratorium on foreclosures been implemented in 2007, 139,000 Detroit homes would have avoided foreclosure, the population would still be close to 1 million, and the homeownership rate in the city would not have plunged from the highest to the lowest in the country. Instead, as McDonald and Kurth point out, Detroit and Michigan political leaders refused to take on the banks in any way, shape or form.The people’s lost wealthKurth and McDonald’s series estimated that the foreclosure epidemic caused by the banks’ predatory lending practices has cost the city of Detroit approximately $500 million, with $195 million to tear down vacant homes and $300 million in lost property tax revenue.But that is a fraction of the actual cost.Detroit’s decline in property values cost Detroiters an estimated $1.3 billion in lost personal wealth. When 240,000 residents are driven out of the city and the wealth of the remaining residents is decimated, their income tax dollars and the money they spend on purchases within the city are lost as well.In addition, the same banks which caused the destruction of Detroit’s neighborhoods then placed the city itself in predatory bond deals, often tied to interest rate swaps. The city lost approximately $1 billion to the banks in these swaps, as has been outlined previously in Workers World.Today, approximately 20,000 occupied Detroit homes are facing tax foreclosure, with 25,000 other families facing de facto eviction through water shutoffs.The state, under reactionary Gov. Rick Snyder, is sitting on $200 million in unspent federal Helping Michigan’s Hardest-Hit Homeowners Funds — funding earmarked to help distressed homeowners stay in their homes. Rather than release these funds to pay off delinquent property tax and water bills, this money is being diverted to Detroit’s “blight task force” to tear down homes instead.The blight task force is run by Dan Gilbert, owner of Quicken Loans, a lender which has been charged by the Justice Department with fraudulent lending in connection with FHA loans and the responsible party for over 500 blighted homes resulting from Quicken Loan foreclosures.Thus, the banks are being paid to tear down the blight they caused by their predatory lending policies, with funds that are supposed to be dedicated to preserving homeownership.Take it from the banks, not the peopleThe Moratorium NOW! Coalition is demanding that there be an immediate moratorium on all tax foreclosures and water shutoffs in Detroit and that the federal Hardest-Hit Homeowners Funds be released and used for their stated purpose — to keep families in their homes by paying off delinquent tax and water bills.Moratorium NOW! is also demanding the banks pay reparations to the city of Detroit for the destruction they caused, in the form of a $2 billion payment which can be used to implement a jobs program putting young people to work rebuilding homes and neighborhoods throughout the city.The coalition is asking activists from throughout the U.S. to come to Detroit this fall for a massive demonstration to Stop the Foreclosures, Stop the Water Shutoffs, and Save and Rebuild This African-American City.For more information, go to moratorium-mi.org, email [email protected], or call 313-680-5508.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
News Zaman had backed the Gülen Movement and had been very critical of the government for several years until placed under judicial control in March, when police stormed its headquarters and all of its employees were immediately fired. Thereafter, it adopted a pro-government editorial policy, lost most of its readers and ended up being closed down. Organisation Credit: Adem Altan / AFP to go further Help by sharing this information In both cases, no hard evidence was ever produced and the journalists ended up being released after long periods of provisional detention, in some cases lasting more than four years. July 27, 2016 RSF condemns “witchhunt” against journalists in Turkey Turkey is ranked 151st out of 180 countries in RSF’s 2016 World Press Freedom Index. Warrants for the arrest of 42 journalists had already been issued as part of the investigation into the Gülen Movement. The score of already detained journalists include the columnist Şahin Alpay, former Zaman editorial writer Nuriye Akman, well-known TV presenter Nazlı Ilıcak and former Hürriyet journalist Bülent Mumay. “We regret having to reiterate that criticizing the government and working for media outlets that support the Gülen Movement do not constitute evidence of involvement in the failed coup. If the authorities cannot produce more credible evidence, they are guilty of persecuting people for their opinions and that is unacceptable.” Journalists threatened with imprisonment under Turkey’s terrorism law Receive email alerts April 28, 2021 Find out more TurkeyEurope – Central Asia Condemning abuses Judicial harassmentFreedom of expressionCouncil of Europe In December 2011, 36 media workers were arrested as part of an investigation into the banned Union of Kurdistan Communities (KCK).Many other journalists were placed in detention from 2008 to 2013 on suspicion of being part of an alleged ultra-nationalist network called “Ergenekon.” News Human rights groups warns European leaders before Turkey summit Follow the news on Turkey TurkeyEurope – Central Asia Condemning abuses Judicial harassmentFreedom of expressionCouncil of Europe Many precedents show that Turkey’s judicial authorities often work on the basis of ideological association, accusing journalists of belonging to an armed organization if it can be claimed that their views resemble the positions espoused by the organization. Reporters Without Borders (RSF) condemns the purge against Turkey’s news media, which continues to assume increasingly alarming proportions ten days after an abortive coup d’état. At dawn today, the anti-terrorism police added 47 new names to the already long list of wanted journalists April 2, 2021 Find out more “It is hard to believe that these increasingly extensive roundups are being carried out with the sole legitimate aim of unmasking those behind the coup and their accomplices,” said Johann Bihr, the head of RSF’s Eastern Europe and Central Asia desk. RSF_en News Turkey’s never-ending judicial persecution of former newspaper editor News April 2, 2021 Find out more The new wanted notices were issued on the basis of arrest warrants authorized by an Istanbul prosecutor. Those named (complete list here) are former employees of Zaman, a daily that used to support the US-based Turkish cleric Fethullah Gülen, whose followers are now accused of being behind the coup attempt.
WhatsApp Previous articleOHS Band fundraiserNext articlePoetry slam set Friday admin Facebook Facebook WhatsApp Ellen Noël Art MuseumEllen Noël Art Museum, 4909 E. Univerity Blvd., has scheduled BookTalk: The GoldFinch by Donna Tart from 7 p.m. to 8 p.m. Thursday.The book discussion will be led by Julie Roth, associate professor of English at Odessa College.The event is free and open to the public.Call 550-9696. Local News Twitter By admin – March 21, 2018 Pinterest ellen noel logo Twitter BookTalk Pinterest
The Best Markets For Residential Property Investors 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe September 16, 2019 1,275 Views Demand Propels Home Prices Upward 2 days ago Affordability California rents 2019-09-16 Seth Welborn Previous: Housing Market Braces for Rate Cuts Next: What Weighs on Housing? Tagged with: Affordability California rents Home / Daily Dose / California Faces Affordability Challenges The Best Markets For Residential Property Investors 2 days ago California Faces Affordability Challenges About Author: Seth Welborn in Daily Dose, Featured, Investment, Market Studies, News Print This Post Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago California has the highest poverty rate in the nation, according to analysis from the U.S. Census Bureau, and according to Texas Public Policy Foundation VP Chuck DeVore on Forbes, California’s new rent control law will likely make things worse.“California’s new housing stock has been severely restricted by the state’s myriad of web of development fees, restrictive zoning rules, environmental laws—including greenhouse gas restrictions—and lawsuits,” DeVore said. “Now it’s about to get much worse, with statewide rent control further discouraging new investment in the state.”DeVore notes that the bill also strengthens already-strong tenant protections, now barring property owners from pursuing evictions without a government-approved reason. The California Association of Realtors said that the bill will, “…impose onerous standards upon small property owners and, in turn, exacerbate the state’s housing crisis.”“In 2018, California builders started construction on 116,400 single and multi-housing units, likely not enough to accommodate demand with what was expected to be about 125,000 new households in the state,” DeVore notes. “At this rate, it would take builders 122 years to completely turnover the state’s 14.3 million housing units. California’s 2018 construction starts were 31% below the state’s historical average since 1960.”There is good news for homeowners and buyers in California, though. CoreLogic reported that home sales in July grew from the year prior for the first time in a year. Growth was motivated by lower mortgage rates. Home prices across the state were less than 2% above last year, and prices in the Bay Area fell annually for the third-consecutive month.The nine-county San Francisco Bay Area saw the purchase of 7,404 new and existing houses and condos, which is a 2.2% year-over-year decline. Median-sales prices, though, fell 4.1%—the largest decline December 2011’s 10.5% drop.The report finds that an estimated 42,432 new and existing homes and condos were sold in July, which is a 5.1% increase from June and up 1.8% from July 2018. CoreLogic, however, stated that housing activity usually declines, with the average decline for the two months being 5.3%. Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago
365 additional cases of Covid-19 in Republic Facebook Newsx Adverts Facebook WhatsApp Google+ Twitter WhatsApp Derry priest offers to meet dissidents By News Highland – April 26, 2011 Twitter Previous articleReal IRA to target Queen when she visits IrelandNext articleThree Donegal candidates await lengthy Seanad count News Highland Pinterest 75 positive cases of Covid confirmed in North Pinterest Main Evening News, Sport and Obituaries Tuesday May 25th Google+ Derry Priest Fr Michael Canney is offering to meet with dissident republicans after yesterday’s Real IRA Derry statement, in which the dissident group threatened to kill more PSNI officers in the North.They also declared the Queen’s first visit to Ireland as an “insult” and claimed she was guilty of war crimes.Foyle MP Mark Durkan said the groups pretensions to legitimacy would impress nobody……….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/04/06durk1.mp3[/podcast] RELATED ARTICLESMORE FROM AUTHOR Man arrested on suspicion of drugs and criminal property offences in Derry Further drop in people receiving PUP in Donegal Gardai continue to investigate Kilmacrennan fire
News UpdatesNLUJAA Gets Interim VC After Vice-Chancellor Facing Sexual Harassment Allegations Steps Down LIVELAW NEWS NETWORK4 Aug 2020 1:11 AMShare This – xDirector of Judicial Academy, Assam & North Eastern Judicial Officers’ Training Institute, Aparna Ajitsaria, AJS, has been appointed as the interim Vice-Chancellor of the National Law University and Judicial Academy Assam (NLUJAA). She has taken charge as the interim VC of NLUJAA from August 3 onwards. The development has taken place after the erstwhile VC, Professor (Dr.) J S…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginDirector of Judicial Academy, Assam & North Eastern Judicial Officers’ Training Institute, Aparna Ajitsaria, AJS, has been appointed as the interim Vice-Chancellor of the National Law University and Judicial Academy Assam (NLUJAA). She has taken charge as the interim VC of NLUJAA from August 3 onwards. The development has taken place after the erstwhile VC, Professor (Dr.) J S Patil stepped down during in the wake of sexual harassment allegations against him . The Student Bar Council of the University had recently written to the Chief Justice of Gauhati High Court, who happens to be the Chancellor of the University, seeking Patil’s removal. NLUJAA Students Seek Removal Of Vice Chancellor Facing Sexual Harassment Allegations Subsequently, some faculty members also stated that “In the past, Prof. Patil has made sexist remarks and used sexually harassing language with the members of the faculty, both female and male”. The FIR against Dr.Patil has reportedly been filed under sections Sections 294(obscene acts in public), 354A(sexual harassment of women) and 509(Word, gesture or act intended to insult the modesty of a woman) of the Indian Penal Code (IPC), alleging that he had exposed his nudity to the neighbour’s female family members. Refuting the allegations, Dr.Patil told Legally India, “It is to tarnish the image of me and my University”. He also claimed that he has filed a counter-case against the complainants. Next Story
WhatsApp WhatsApp Pinterest Homepage BannerNews By News Highland – August 21, 2018 Facebook RELATED ARTICLESMORE FROM AUTHOR The MS Queen Elizabeth is making a surprise return to Killybegs this morning. The luxury liner docked for the first time ever in Killybegs on 20 July 2018 to a great welcome from all and the many people who made their way to see the largest cruise ship the Killybegs port has ever seen.The ship was to have visited Stornoway in the Hebredies today, but in a last minute itinerary change, came to Killybegs instead.View from Queen Elizabeth’s Bridge Webcam this morningQueen Elizabeth’s position as registered this morning on www.marinetraffic.com. Twitter Arranmore progress and potential flagged as population grows Luxury ship makes surprise return to Killybegs Pinterest Community Enhancement Programme open for applications Previous articleDonegal people warned of huge delays for pope’s visit to KnockNext articleNo ambiguity about how allegations are handled in Raphoe Diocese – Bishop News Highland Publicans in Republic watching closely as North reopens further Google+ Important message for people attending LUH’s INR clinic Facebook Nine til Noon Show – Listen back to Monday’s Programme Loganair’s new Derry – Liverpool air service takes off from CODA In a statement welcoming the ship’s return, Donegal County Council says “Passengers and crew received a warm Donegal welcome on their first visit and the team from Killybegs Information Centre, Sinbad Marine, Donegal County Council Tourism Unit and other representatives were on hand with lots of great information about the area and details of local tours such as the popular ‘Hidden Gems’ tour. There is no doubt they will receive the same great welcome on their return visit.The MS Queen Elizabeth is the larger sister ship of the Queen Victoria, who visited Killybegs for the first time in May. She is just one of the many cruise ships stopping off in Killybegs this year, which generates excellent economic opportunities for businesses in Donegal. Some of the passengers spent their time in Killybegs while others took bus trips to Donegal Town, Sliabh Liag, Glencolmcille and surrounding areas.The new 300m pier was just perfect to accommodate the 92,000 tonne ship, which at 294m is twice as long as Croke Park. The Queen Elizabeth is the youngest of Cunard’s three ships. She has sailed around the world since her launch in 2010. Returning to Killybegs for a second visit is a significantly positive indication that cruise tourism continues to grow and there will is great potential to maximise this tourism opportunity in County Donegal”. Twitter Google+
Digby Jones believes that if HR is to be taken seriously it needs to promotethe pivotal role it can play in boosting staff productivity. Paul NelsonreportsChief executives do not understand the vital role HR plays in running asuccessful business, according to the director-general of the Confederation ofBritish Industry. Digby Jones is in no doubt that HR deserves a place on organisations’ mainboards, and blames ill-informed chief executives for snubbing the profession.”Chief executives and finance directors have got to have a betterunderstanding of HR and the things it can and cannot change,” he said. “Not enough companies think creatively about the regulations they face.It is left to the last minute, the HR director is wheeled in and says: ‘you cando this, you can’t do that’, and wheeled out again – and I would think thechief executive throws something at the door as they leave.” Jones believes HR needs to promote the pivotal role it could play in helpingorganisations ensure their staff fulfil their potential and boost productivity.”It is important that more HR people are on the board, but even moreimportant that they are seen to earn their place. Senior HR professionals mustmove away from just dealing with regulation – which chief executives view asslowing business down – to becoming directors on main company boards, viewed asbusiness partners driving the organisation forward,” he said. “HR must change from telling the chief executive bad news every day, tosaying ‘we are in charge of your best asset – your people – and want to be onthe inside working with you’. HR directors ought to be in there at the startsaying: ‘involve me now’.” Suspicious Although he describes himself as a champion of HR, Jones is opposed toplanned regulation that will force employers to include HR measurements, suchas information on diversity and absenteeism, in company reports. Ministers are set to consider the proposals for HR reporting in Novemberfollowing a report by Denise Kingsmill, who is chairing a government taskforceset up to tackle the issue. Jones claims that his members would view the moveas more HR red tape. “Chief executives are very suspicious of it all. The red tape,regulatory environment of HR has got such a bad reputation. “I personally believe in it [HR], but CBI members would say: ‘Oh I seewhat you want, another regulation that we must comply with, tick some moreboxes and stick it in the annual report.’ “Before we know it, it will become an obligation to do what the reportsays, and suddenly, I am stuck with even more red tape that I will have toemploy another four people to deal with.” For the same reasons, Jones is also unhappy with the Health and SafetyExecutive’s (HSE) move to introduce stress management standards for employers.He is concerned they could be too prescriptive. Positive pressure He said the HSE and employers should focus on training managers in spottingthe fine line that exists between positive pressure on employees and stress. “There should be guidance, education and training for staff aboutstress as it is an important issue. I make it very clear that I expect my staffto work under pressure. You find me an employee who does not want to work underpressure, they enjoy it,” said Jones. “The signs of stress are quite easy to see and good managers should betrained to recognise, understand and take stress off employees.” The CBI leader has been unhappy with the Labour government’s record onemployment regulations because he believes it is too rigid. He wants theGovernment to adopt the same approach to legislation adopted by other EUcountries such as France and Germany, by introducing broad directions employersmust work within. “I would draw down some very wide parameters and say that we want ourbusinesses to comply with these, and then come back in five years and see howit is going,” Jones said. “This would not be a cop out. It is the way Europe does it instead of‘do this by a week on Friday or we will see you in court’ – and it [theGovernment] wonders why we are not competitive.” Jones cites the Data Protection Act 1998 (DPA) as an example of legislationwhere the Government has failed to take business needs into account. The Act,which outlines employers’ responsibilities when handling staff information,came into force in October 2001, but is so complex effective guidance forbusiness has still to be produced. The Information Commission, set up to aid compliance with the DPA, iscurrently redrawing its codes of practice on the legislation, after criticismthat its original guidance was unworkable. Jones said the Department for Trade and Industry now has an opportunity toprove it is concerned about employers’ needs as it drafts the forthcominglegislation on information and consultation due to be introduced from 2005.This will place a duty on employers to consult earlier and more fully withstaff on issues that affect their employment, such as redundancies andrestructuring. He urged the DTI not to include heavy financial penalties for firmsbreaching the new law. “If you penalise companies financially over this, you may as well makea big sign saying: ‘would you mind going to make these things in China please,and make the people redundant on the way out’, because that is exactly what willhappen.” Another piece of regulation that Jones is worried could damage UK firms’productivity and competitiveness is the Agency Workers Directive currentlybeing finalised by the EU’s Council of Ministers. As drafted, the directive would mean temporary staff have the right to thesame pay and conditions as permanent staff after six weeks in employment. Afterfive years, the directive would give agency staff equal rights from day one. The UK employs around 700,000 of Europe’s one million temps, and the CBIestimates that 160,000 agency jobs could be lost in the UK if the directiveremains in its current form. Flexibility Jones wants the qualifying period for temporary staff to gain the same payand rights as full-time workers to be nine months. The CBI’s leader is in no doubt that an unchanged directive would damage theunique flexibility of the UK’s employment market, which is vital if the UK isto compete against emerging global competition from Asia and Eastern Europe. “Agency working is a bit of ‘suck it and see’ on both sides, and awonderful way for a mother to get back her confidence and bring her talents tothe workplace after having a baby,” said Jones. “But if employershave to treat these people the same in every respect as full-time employees,then they will not employ them, and China will think it’s Christmas Dayagain.” www.cbi.org.ukDigby Jones’ CV2000 – Director-general, CBI1998 – Vice-chairman of corporate finance, KPMG1995 – Senior partner, Edge & Ellison1990 – Deputy senior partner, Edge & Ellison1984 – Partner (property and commercial law), Edge & Ellison Comments are closed. Previous Article Next Article CBI chief urges HR to create valueOn 18 Mar 2003 in Personnel Today Related posts:No related photos.
Comments are closed. Rome and Lisbon compete for the title of hardest-working capitals in WesternEurope, writes Delwyn Swingewood. Employees in these cities put in an averageof more than 1,800 hours work a year, dispelling the myth that Latin nationscare more about siestas than business. The next hardest working capital isLondon, where employees average 1,787 working hours a year. Anyone who values their leisure time should aim for a job in Berlin orCopenhagen, where the average number of annual working hours are less than1,700. The truly indolent should head for Paris, which is not just the laziestcapital in Europe, but also the laziest in the world. According to the 2003 UBSPrices and Earnings Survey, the average Parisian puts in 1,561 days at work ayear. By comparison, Hong Kong lays claim to being the world’s most industriouscity, where the average number of hours worked per year is 2,938. The survey provides a global overview of prices for goods and services,wages and working hours from 70 cities around the world. It uses the ‘Big MacIndex’ as a way of benchmarking purchasing power. The global average is 37minutes’ work to afford a Big Mac. Irish luck means Dubliners only have to putin 15 minutes to buy one of these delicacies. By comparison, industrious staffin Lisbon have to labour for 33 minutes. UK workforce measures up to rivalsOn 21 Oct 2003 in Personnel Today Previous Article Next Article Related posts:No related photos.