INSPORTS gives $5m to primary-school athletes

first_imgChampions Naggo Head Primary will launch the defence of their Institute of Sports (INSPORTS) National Primary Schools Athletics Championships crown at the National Stadium today, beginning at 8 a.m. The national sports agency, in keeping with its objective of unearthing and nurturing talent, is contributing a total of $5 million in sporting equipment, to be utilised among outstanding athletes who participate in this year’s staging of the meet, which continues everyday through to what is expected to be an exciting climax on Saturday. This contribution towards primary-school athletes who display exceptional talent is in keeping with the agency’s strategic direction, which includes nurturing the talents through extensive coaching programmes. This is in addition to the $500,000 worth of spikes that INSPORTS will be donating to the winning school. Also, one of the pivotal terms to access the contribution is for the athlete to continue being active in the athletics sporting discipline throughout his/her five-year tenure in high school. “The sporting equipment utilised among these athletes will be very instrumental in encouraging the development of the techniques associated with the sporting discipline, said Ian Andrews, administrative director, INSPORTS. POTENTIAL CHAMPIONS “Additionally, it will encourage these potential champions to participate in more training seminars, which will maximise their potential and contribute to the development of a nation through sports,” added Andrews. Over the years, the championships has served to unearth some of the nation’s top talent and some of the current high school stars, namely Jhevaughn Matherson and Christopher Taylor, the World Youth 400 metres record holder. This year; Naggo Head expects to win again, but the seven-time winners expect a tougher challenge to retain the four day championship which ends Saturday, and assistant coach, Oral Whilby, believes they have enough to finish atop the podium again. “We have some very competent schools rising like Rousseau, St Richards and the main culprits in Greater Portmore and Southborough. I expect them to give a good account of themselves and take critical points,” said Oral Whilby, Naggo Head Primary’s assistant coach. He added: “We are weak in Class One, but we are very good in the other classes, in the field and middle-distance areas. We should have enough to take us across the line.” Greater Portmore finished third in 2014 and second in 2015 and coach Krisneve Palmer is convinced that they have what it takes to topple the champions. “Our chances are great again, just like last year. We have worked on our weak areas and make our strong points even stronger. We are right where we want to be, so we are coming strong,” he said. Southborough, which placed third last year, along with fourth place Black River and New Providence, are expected to challenge strongly in the 92-team meet.last_img read more

Two ex-Apple execs facing SEC penalties

first_imgThe two former officers each personally received several million dollars in unreported compensation as a result of the backdating, according to the SEC, which is seeking penalties and fines against Heinen, as well as a court order barring her from serving as an officer or director of a public company. Under Anderson’s settlement, the former CFO did not admit any wrongdoing. Marc Fagel, an assistant regional director of the SEC in San Francisco, called the charges “serious.” The civil lawsuit was filed at the U.S. District Court of Northern California in San Jose. Heinen and Anderson “were entrusted to ensure that accurate financial statements are shared with investors, and they failed to do that,” Fagel said. The SEC said it will not pursue any further action against Apple itself, partly because of its “swift” and “extraordinary” cooperation with the probe. The Cupertino-based company has also implemented new controls to prevent a recurrence of fraudulent conduct,” the SEC said. But the agency stopped short of saying its investigation was closed. Fagel declined to comment on whether further charges against Jobs or other company officials were possible. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! The grants in question were a February 2001 grant of 4.8 million options to Apple’s executive team and a December 2001 grant of 7.5 million options to Jobs. Anderson’s attorney, Jerome Roth, issued a statement Tuesday saying the former CFO had warned Jobs of the implications of backdating the executive team’s grant. Roth said Anderson was reassured by Jobs that the board of directors had given the necessary approvals, and thus proceeded with the conclusion that the grant was being properly handled. The SEC concluded the grant was fraudulently accounted for and that Anderson should have noticed Heinen’s efforts to backdate the executive team’s grant. He failed to take steps to ensure that Apple’s financial statements were correct, the SEC said. Apple’s spokesman Steve Dowling declined to comment on Anderson’s claims but pointed to how the SEC named only two former officers in its lawsuit Tuesday. “It did not file (charges) against Apple or any current employees,” Dowling said. He declined further comment. Anderson and Heinen both left Apple last year as the backdating scandal was unraveling. SAN JOSE – The Securities and Exchange Commission filed civil charges Tuesday against two former Apple Inc. officers over their alleged roles in backdating stock options. One of them immediately settled the case and cast some blame on Apple’s CEO Steve Jobs. Former Chief Financial Officer Fred Anderson, 62, has agreed to pay about $3.5 million in fines and penalties to settle, the SEC said. The case against former general counsel Nancy Heinen, 50, will proceed. Her attorneys have vowed to fight the charges. The commission accused Heinen of participating in fraudulent backdating and altering company records to conceal the fraud. The charges were in connection with two large options grants that caused the company to underreport its expenses by nearly $40 million, the SEC said. last_img read more