In this Feb. 16, 2014 file photo, Oregon State coach Craig Robinson watches during a game against Oregon, in Eugene, Ore. Oregon State fired Robinson, Monday, May 5, 2014, after six seasons without making the NCAA tournament. (AP Photo/Chris Pietsch, File)Oregon State athletic director Bob De Carolis announced on March 28 that head coach Craig Robinson would return for a seventh season as basketball coach, even penning a strongly worded letter of support for President Barack Obama’s brother-in-law.The more De Carolis thought about it, the more he realized it was a mistake.Reversing his course from five weeks earlier, De Carolis fired Robinson on Monday, ending the tenure of a coach who brought prestige to the university but who failed to get the Beavers to the NCAA tournament during six seasons in Corvallis.“During a phone call with him on Thursday, I acknowledged to him that I had changed my mind,” De Carolis said. “Despite my sincere want for Craig to be successful at Oregon State, as they days moved on since March, it became clear to me that wanting it to work with Craig as our coach was not good enough. Oregon State University, our student-athletes and our loyal supporters deserve more than a simple desire. They deserve success.”The brother of First Lady Michelle Obama, Robinson was hired during President Obama’s first presidential campaign in 2008 and gave the university some added attention that summer, when he introduced his sister at the Democratic National Convention. Robinson also played basketball with the president on Election Day in 2012 and was with him during his private oath of office for the start of his second term.The results on the basketball court didn’t match what he was able to accomplish from a public-relations standpoint.Robinson had a solid start in Corvallis, taking a program that went 0-18 in the Pac-12 the year before to an 18-win season in 2008-09.After that, the Beavers’ results under Robinson were uneven, with Oregon State finishing no better than fifth in the Pac-12 in his six seasons, including 10th this year.Oregon State won 21 games in 2011-12, but went 7-11 in conference to miss the NCAA tournament.After going 14-18 in 2012-13, the Beavers were 16-16 this season, including 8-10 in the Pac-12, and lost to Radford at home in the lower-tier College Basketball Invitational.Robinson went 94-105 overall — 39-69 in conference — with Oregon State after spending two seasons as Brown’s head coach. The Beavers have not reached the NCAA tournament since 1990.Oregon State will pay $4.2 million to Robinson over the course of a contract that runs through 2016.“When Craig got here, it was not every good,” De Carolis said. “Yes, he got us to a different spot, which was good, but we just feel that to get to the next spot, we need a fresh start.”Oregon State will be in a rebuilding phase next season.The Beavers will add Maryland transfer Nick Faust, but will have no returning starters in 2014-15 after Eric Moreland declared early for the NBA draft, Hallice Cooke decided to transfer and Challe Barton left to play professionally overseas. Leading scorer Roberto Nelson, Devon Collier and Angus Brandt were seniors last season and won’t be back, either.De Carolis said he hopes to move quickly in finding a replacement since Robinson’s firing came well after the season ended.“We want to move quickly, but we want to make the right choice,” he said. “So fast but deliberate.”Robinson played at Princeton, where he was a two-time Ivy League player of the year as a 6-foot-6 forward. He started his career in the business world before serving as an assistant at Northwestern under Bill Carmody, an assistant coach at Princeton during Robinson’s senior season.
Leadership takes courage.The Courage To Say No: A leader needs to the courage to say no. You will have a lot of people from different quarters who want to do things that they believe in. They are good people with good intentions. But some of what they want won’t be the right thing to do or it won’t be the right time to do it. Leadership requires an ability and a willingness to say no.The Courage to Say Yes: You also need the courage to say yes. Some ideas will be so outrageous and out-of-the-box that, upon first glance, you’ll want to say no. You won’t understand the idea, and you won’t see how it fits. It takes courage to open your mind and consider something new, especially when it doesn’t look like what you already know and believe. But this is where innovation and breakthrough ideas start. Sometimes you to have the courage to say yes.The Courage to Stay the Course: Change can be a sexy idea to a leader, especially to a new leader. But oftentimes change isn’t what’s necessary. Sometimes what is necessary is leadership and execution. A leader needs the courage to say no to change for change’s sake. It takes courage to admit that execution is the real issue and to double down on what’s right.The Courage to Change Direction: Sacred cows. History. We’ve always done it this way. A leader needs the courage to change directions, even when she changes the identity of the business. When what you are doing is no longer the right thing to do, you have to make serious change. You can’t protect the status quo, because doing so endangers your enterprise. You can’t protect the sacred cows. Real change takes immense courage.The Courage to Stand Alone: Leadership is about direction and decisions. You have to determine the direction of your enterprise and you have to make the decisions, right or wrong. There will be times when you will have to stand alone. You may find yourself alone when you say no, when you say yes, when you decide to stay the course, and when you decide to change. But you are the leader, and you have to decide what is right.Be courageous.
Dev Kant BarooahThe original Indian brand guru, this Assamese poet booked his permanent seat in Indian politics with his legendary “Indira is India, India is Indira”. When the Allahabad High Court dismissed Mrs Gandhi’s election and growing unrest on the streets demanded her resignation, Barooah stood up to smile and,Dev Kant BarooahThe original Indian brand guru, this Assamese poet booked his permanent seat in Indian politics with his legendary “Indira is India, India is Indira”. When the Allahabad High Court dismissed Mrs Gandhi’s election and growing unrest on the streets demanded her resignation, Barooah stood up to smile and say: “Indira tere subah ki jai, teri shaam ki jai, tere kaam ki jai, tere naam ki jai.” This roly-poly Congress president soon caught the party’s imagination with his literary fervour and elevated himself to a master spokesman, defending the Emergency in a passionate, if somewhat convoluted fashion: “The Emergency has not only cut to size the forces of right reaction and left adventurism, but it has galvanised the masses for establishment of popular democracy…”With “Indira is India…”, the man not only provided a vulnerable prime minister with an everlasting branding solution but in the process, also spelt out the unofficial mantra of survival in Indian politics, better called sycophancy. After Mrs Gandhi lost the 1977 elections, however, the man kept his distance from her.Raj NarainIn today’s 24×7 times, none could have been a more footage-grabbing politician than this unpredictable, anti-Right, anti-Left, bandana-sporting socialist. In those days of almost unipolar politics, this poster boy of the Opposition challenged prime minister Indira Gandhi’s election. The iron lady trembled and imposed the infamous Emergency. The man turned to legend by defeating her in her home turf in the 1977 elections.From a berth in the Opposition to a Cabinet berth in the Janata Party, he was soon the Opposition within the party. Once a wrestler and then an opportunist with Charan Singh, they staked their claim to power by pleading to his arch rival for outside support. That naive coalition, too, failed when Mrs Gandhi withdrew support and in less than a year the party was over. Such were the early experiments of coalition politics. The Nana Patekar of Indian politics ended his career playing the lead role of Manu in a devotional Hindi film. Troublemaker, party-breaker, known for his ever-ready quip, yet a voice to reckon with in Indian politics. If only television had arrived earlier.advertisementSanjay GandhiAfter his mother had abolished privy purses and the princes, the men of silk were reduced to men of cotton. Our man emerged as the New Indian Prince clad in cotton. “The Indian youth are lily-livered. They have no guts?” Charged with a vision and padded with heritage, he was modern India’s original Angry Young Man. With a Vivekananda-ish sense of mission to electrify Indian youth and a Stalin’s muscle, he was the face of Indian entrepreneurship with his Maruti dream, which came at a time when his mother was fast pushing the socialist envelope. His five-point programme that included controlling the nation’s birth rate through sterilisation camps or transforming Delhi into Paris gripped the urban middle class with shock and awe. An eternal weakness of an Indian mother, he was a parallel one-man government with only followers of his own kind. A permanent prince in public memory, he is still remembered in street conversations during any national crisis. What-if-he-was-alive?V.C. ShuklaIn the 70’s, he was a supreme commando of the Sanjay brigade. The minister of Information and Broadcasting during the Emergency, he was Mr Scissorhands Shukla. The loyal Congressman ensured effective press censorship for the larger cause of nation-building. “Censorship was done under a provision normally used during difficult times… But everything settled down when people knew what they were supposed to do.” That the press surely did. As the press bent, crawled or shut its trap, the minister smiled. Instrumental in destroying the film negatives of a political satire Kissa Kursi Ka and instituting a ban on Kishore Kumar songs for ‘lack of cooperation’, he promoted himself to a desi Goebbels. When the Opposition organised one of the biggest rallies after the Emergency was lifted, the man once again used the state-run Doordarshan with his genius. He telecast a recent blockbuster Bobby. The teen sensations of Rishi Kapoor and sweet Dimple Kapadia were used to keep Delhi commoners away from the Opposition’s microphone. Pure media innovation, before the age of TRPs. In modern times, during the brief, non-dynastic days of the Congress, the man transformed into the shrewd survivor of Raipur. Always in the winning team, he was elastic enough to be in power across political colours, including his once enemy BJP. Like every good Congressman, he recently returned home.N.T. Rama RaoNandamuri Taraka Rama Rao was Telugu cinema’s wild card entry into Indian politics. After playing God or a mythological hero in 292 films, the showman travelled across the state on his ‘Chaitanya Ratham’, invoking Telugu pride and staking his claim to power. In his first term as chief minister, he often attended office in a Vivekananda costume, officially introducing fancy-dress into Indian politics. In the national elections of 1984, when the Congress swept the nation with a sympathy wave, it found little comfort in the superstar’s territory. Diminishing the difference between a fanbase and a votebase, Telugu Desam had then elevated itself to the main Opposition party in Parliament. With his promise of delivering rice at Rs 2 a kilo to the poor (till date, a salient feature of election manifestoes across party lines), ensuring equal property rights for women and reigniting the strength of regional politics, N.T. Rama Rao was the last larger-than-life living cut-out, permanent on the Andhra mindscape.advertisementJyoti BasuStretching his political careers well into the ’90s along with EMS Namboodripad and Harkishan Singh Surjeet, Jyoti Basu completed the trio of immortal Indian Marxists. The barrister from Oxford began his politics organising industrial trade unions and fighting for landless peasants. In a long political career of seven decades, this eternal chief minister forever convinced his people that Karl Marx was a Bengali with a European accent.With official support of the Politburo and the unofficial support of the state’s Marwari traders, this Test-playing Marxist charted the career of the desi Left that included removal of English from primary schools, resistance to bourgeois poets like Tagore being taught in schools, tacitly supporting trade union offices, opposing the use of computers and ensuring a disciplined cadre-based party across the state. His successive terms followed a demarcated diktat of dual governance; for the rural electorate it was D for Development and in the industrial or the urban space it was D for Decay. As his successor once admitted, words like ‘bandh’ and ‘gherao’ were their contributions to the English dictionary. Basu was B for Bhadralok, A for Astute, S for Secular and U for Unused in Central politics. He was one of the best prime ministers India never had.Amar SinghHe was a middle class Calcuttan before he became a thakur from Uttar Pradesh. He was a Congressman before he became a Samajwadi. A politician before he became a kingmaker. And a media darling before he disappeared. This Rolex-sporting rookie burst on the political canvas with style, interestingly when the texture was changing from single party to coalition. The timing couldn’t have been better.Coalition, television, PR-the essentials of modern politics were at his command. Always on the television screen, always in every political crisis, always on the phone, he was always at work; role playing either as victim or a victor. In contemporary politics, he was the original Page-3 politician. Irrespective of 1G, 2G or 3G, he was always the man with the strongest network.Uma BhartiFrom the plains of central India emerged this raw talent, a fierce voice of the Saffron Gharana. A fearless orator igniting a self-righteous pride in her masses through her pravachans, she was Team Hindutva’s live media. It is this skill that opened for her the doors of BJP headquarters. Her speeches alone brought thousands of kar sevaks to Ayodhya’s disputed site. When the thousands got on to the Babri dome, she is reported to have said, “Ek dhakka aur do?” something she vehemently denied post-demolition.advertisementDuring the NDA regime, with the BJP in two minds over a hardline Hindu stand or a party with a liberal face, her politics was comfortable for the party to play footsie with. After their defeat in the 2004 elections, this lady of steel rebelled against the BJP’s neo-liberal, polished politics and walked out of the party meeting live on television, leaving the party leaders frozen and embarrassed. In days much before Big Boss arrived, she was the Dolly Bindra of the BJP House. When expelled, she claimed “I am the real BJP.”Pranab MukherjeeFrom the debonair, pipe-smoking man of numbers and a trusted man of the Indira Gandhi Cabinet, it has been one rocky journey for this Bengali veteran. The dark years that followed came as a surprise for a career only destined to peak. But he stuck to his wicket and secured his loyal ties with the sincerity of his intentions, reappearing as the quintessential Krishna of the UPA.Now a seasoned politician and a shrewd strategist, this wry negotiator officially looks after the unofficial portfolio of UPA Crisis Management. It is observed that this disciplined democrat’s day is usually spent managing alliances, stalemates, personal and party egos and other disciplines of coalition politics. In the few moments with the self, he looks after the financial health of the nation. Though he missed the bus to 7 Race Course Road, Rashtrapati Bhavan could be round the corner.Mera BetaAcross party lines, it is dynastic ambition (however big or small) that drives this nation’s politics. A fresh face, a new sun, emerging India and the usual rhetoric and more of the political pulp. Travelling across the countryside in choppers or SUVs or even Ambassadors, they are usually attired in a khadi stereotype; they smile, they wave, they walk stereotype and once given the microphone they even talk stereotype. For the people, however, they are a life-changing experience. Generation after generation, they are the nation’s four letter word-hope.- Vishwajyoti Ghosh is the author of graphic novel, Delhi Calm
“He improves and develops his game,” Thiem said. “I mean, if he wouldn’t do that, for sure he wouldn’t have that success every year in this tournament.”As down as Nadal might have felt, he was not going to give up.“He had an unbelievable attitude in those bad moments, and that’s what took him here today,” said Nadal’s coach, Carlos Moya, the 1998 French Open champion. “Hats off to what he’s done this month and a half, because it’s easy to play well when all the things are working well. But what he’s been through these last couple of months is showing what a competitor he is and mentally that he’s a genius.”Nadal’s next tournament will be Wimbledon, where play begins in three weeks. He won’t enter a grass-court tuneup event, figuring that time off to rest is what he needs more than anything else.Inevitably, a reporter brought up the topic of chasing Federer, now that he’s so close behind.And just as inevitably, Nadal played down such talk.Did it charmingly, too.“I never tried to think about, ‘Well, I’m going to catch Roger’ or not. Being honest, I am not very worried about this stuff, no?” Nadal said. “You can’t be frustrated all the time because the neighbor has a bigger house than you or a bigger TV or better garden. That’s not the way that I see the life, you know.”A moment later, he went on: “If, at the end of my career, I am able to win a couple of more Grand Slams and be closer to Roger, (it) will be unbelievable. If not, for me, still unbelievable, no?”Nadal said Federer’s record was the last thing on his mind before he was asked about it. This time, it was Nadal who was filled with real worry. He entered May without a title, the first season since 2004 that happened to him. He missed the end of last season with a bad right knee, needed offseason ankle surgery, then pulled out of a match in March because the knee flared up again. The health concerns, which long had cropped up, were now piling up.“Too many issues the last 18 months. So that’s makes these last few weeks very, very special,” Nadal was able to say Sunday night.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logistics“Mentally, I was down. Physically and mentally,” he said, rapping his right fingers on his temple. “But for me, I always put more attention on the mental side.”All of that angst he spoke about seemed so irrelevant to anyone watching Nadal as he took a tight final against Dominic Thiem and tore it open, quickly as can be, taking 11 straight points to open the third set and 12 of the last 14 games for a 6-3, 5-7, 6-1, 6-1victory. That gave Nadal a 12th trophy at Roland Garros and 18 major championships in all, just two behind Roger Federer’s record for men.But here might be the biggest lesson for Nadal himself, and for those who follow, and talk about, tennis: Stop thinking Nadal can’t keep coming back and can’t keep adding to his resume.Because he will do whatever it takes to not only stay where he is, but also to get better.Just one example: Nadal has long been thought of as the ultimate baseliner, someone who will get to every ball back there and wallop it back over the net. Yet there he was in Court Philippe Chatrier, showing off a less-appreciated aspect of his game, by volleying impeccably and winning 23 of 27 points when he moved forward.He’s constantly putting the work to adjust a stroke or element of strategy.ADVERTISEMENT Spain’s Rafael Nadal celebrates his record 12th French Open tennis tournament title after winning his men’s final match against Austria’s Dominic Thiem in four sets, 6-3, 5-7, 6-1, 6-1, at the Roland Garros stadium in Paris, Sunday, June 9, 2019. (AP Photo/Jean-Francois Badias)PARIS — This time, about a month out, even Rafael Nadal had his doubts about what his chances were going to be for yet another French Open title.He wasn’t alone. But that part was nothing new: Folks have been questioning him for years, wondering when his body would break down for good, when his impossible-to-believe run of success at Roland Garros would stop, when someone new would come along with the skill, strength and stamina to knock the crown off the King of Clay’s head.ADVERTISEMENT Two-day strike in Bicol fails to cripple transport DA eyes importing ‘galunggong’ anew Cayetano asks Robredo, opposition to stop ‘politicizing’ drug war PLAY LIST 01:42Cayetano asks Robredo, opposition to stop ‘politicizing’ drug war02:24Sotto urges Robredo to accept antidrug post03:41PDEA chief: Albayalde asked me not to implement dismissal order vs Pampanga cops02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss LATEST STORIES Don’t miss out on the latest news and information. ‘Rebel attack’ no cause for concern-PNP, AFP Private companies step in to help SEA Games hosting View comments Duterte wants probe of SEA Games mess Catholic schools seek legislated pay hike, too What was he thinking about, then?“Here I am, at the age of 33, enjoying, playing good tennis,” Nadal said, “and let’s see for how long I am able to manage and to continue this.”Sports Related Videospowered by AdSparcRead Next Cayetano: Senate, Drilon to be blamed for SEA Games mess MOST READ Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Sign of the times: Vettel furious as Hamilton wins in Canada
Bhopal, Sep 21 (PTI) Former Chief Justice of India Ramesh Chandra Lahoti has called upon youth to extend a helping hand to the poor, exploited and downtrodden people. “Adorn your personality with qualities and values. Be a savior of India. Extend your helping hand to the poor, deprived, downtrodden and exploited and follow the words of Swami Vivekananda — awake, arise and stop not till the goal is achieved…”, Lahoti said last evening while addressing the Jagran Lakecity Universitys first convocation ceremony. He also called upon the students to give importance to values in their lives while treading on the path of success. “While being a man of success it is of paramount significance to become a man of values,” the former CJI said. On the occasion, the University conferred honorary doctorates on two outstanding individuals who have distinguished themselves through their major contributions to their profession and to society. Daisaku Ikeda, President – Soka Gakkai International Buddhist Organisation – was conferred with Honorary Degree of Doctor of Humane Letters (Humanities and Arts). This award was given to Ikeda in recognition of his untiring pursuits of peace and love for humanity. Besides, Neelabh Banerjee, worlds leading cartoonist and communicator was conferred the Honorary Degree of Doctor of Arts (Media and Communication). The first batch of students was conferred with the degrees for completing their courses in different streams. “We will always be in touch with them through the JLU Alumni Association which has specifically been constituted so that its alumni are in constant touch with their alma mater,” Chancellor of JLU Hari Mohan Gupta said. PTI MAS LAL NRB PVIadvertisement
LOS ANGELES, CA – OCTOBER 28: A moment of silence is observed in honor of Philip “Flip” Saunders’ passing before the game between the Los Angeles Lakers and the Minnesota Timberwolves at Staples Center on October 28, 2015 in Los Angeles, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and condition of the Getty Images License Agreement. (Photo by Harry How/Getty Images)Update: Phil Jackson is in the building. In attendance tonight – One of the greatest coaches of all time…alongside Phil Jackson #GoBucks pic.twitter.com/QfvIDzSYea— OSU BASKETBALL (@OhioStateHoops) February 26, 2015New York Knicks President Phil Jackson is at the Schottenstein Center to watch the Buckeyes and D’Angelo Russell. pic.twitter.com/CnhSXGTvhr— Lantern TV (@LanternTV) February 26, 2015Earlier: The New York Knicks have the worst record (10-46) in the NBA and are one of several franchises in tank mode as they attempt to secure the best possible odds for the 2015 NBA Draft lottery. If the Knicks do end up with the No. 1 pick in the upcoming draft, the common opinion is that they will select Duke freshman center Jahlil Okafor, but there are other possible candidates. One prospect who might be worthy of the top pick is Ohio State playmaking freshman guard D’Angelo Russell. The 6-foot-5 Russell is having a monster season in Columbus, and Knicks team president Phil Jackson is reportedly going to watch him play tonight against Nebraska. Word from the Schott that some dude named Phil Jackson will be in the house…Gee…wonder who he’s scouting?— Matt McCoy (@MattMcCoyWTVN) February 26, 2015 Jackson has to cover all of his bases. The Knicks need a lot of help, and can’t afford to bungle their lottery selection, no matter where they will pick. Either Russell or Okafor would be a win for a franchise in dire need of them.
Bhubaneswar: Noted journalist and columnist Ranjit Guru passed away at a private hospital here following a brief illness, family sources said on Sunday. He was 61 and is survived by wife and a daughter. Guru, who was admitted to a private hospital here a few days ago, breathed his last in the early hours at around 12.30 am, they said. A host of dignitaries including Odisha Chief Minister Naveen Patnaik and Union Petroleum and Steel Minister Dharmendra Pradhan have condoled the demise of Guru. Guru had carved a special identity for himself by highlighting important issues through his writings and columns, Patnaik said on Twitter while expressing grief over the passing away of the senior journalist.
During the weekend, Shay Mitchell, Serinda Swan, Cassie Scerbo, AnnaLynne McCord, Renee Olstead, Chloe Flower, Hill Harper and more jumped 18,000 ft. from a plane to raise money for the Somaly Mam Foundation through an annual campaign called #18for18.Leyla Mcauley, Shay Mitchell, Serinda Swan, Chloe Flower, Hill HarperCredit/Copyright: Nicole Miller AgencyThese stars faced their fear and together have been able to raise over $70,000 for the cause in less than 10 days. That’s $20,000 over the original goal. 18,000 ft. is the highest skydive in North America, in fact when you are in the plane you have to wear oxygen masks.Shay Mitchell, Renee Olstead, Claudia Lee, Serinda Swan, Chloe FlowerCredit/Copyright: Nicole Miller AgencyImmediately following, everyone headed over to the All Saints/Not For Sale event at a private ranch in Santa Barbara to watch Chloe Flower and Renee Olstead perform.To understand what this campaign has accomplished so far, just take a look at the stats – Over 150,000 tweets generated in less than 10 days. Over $70,000 raised for the cause, our original goal was $50,000. Over 10,000 RT’s within 10 days. Over 300,000 online impressions so far.
OTTAWA – The federal government’s financial adviser has raised the possibility of the Canada Pension Plan Investment Board becoming involved in the Trans Mountain pipeline project but there’s been no political pressure applied, CPPIB chief executive Mark Machin told a parliamentary committee Monday.The Toronto-based fund manager and its peers will likely take a look at the stalled Trans Mountain project because there are a limited number of investment opportunities of its magnitude, but CPPIB has yet to begin a formal analysis or receive any confidential information, Machin told Commons finance committee.His testimony came less than two weeks after the government announced it would buy the project for $4.5 billion from Kinder Morgan, to ensure the pipeline will be completed, with the intent of selling it at a profit in time.Machin insisted, in answer to a question by Conservative MP Pierre Poilievre, that there had been no contact between CPPIB and Finance Minister Bill Morneau or any other member of the Liberal government.But Machin said that CPPIB has been approached by Greenhill & Co., a small investment bank that has been hired to advise the government on selling the Trans Mountain project.“I believe they’ve approached every — a lot of — funds domestically and internationally,” Machin said.“At this stage, we haven’t done any analysis. We’re still evaluating the situation. Obviously, we have an obligation to investigate and to assess any major investment opportunity that comes along. And to fully understand all of the risks, all of the potential returns and understand the fit for our portfolio as well.”The issue of political pressure is relevant because the CPPIB was set up in the late 1990s to be an independent manager of funds on behalf of the Canada Pension Plan, an employer and employee-funded retirement system.As of March 31, when CPPIB’s financial year ended, it managed a fund with $356.1 billion in net assets, up from $316.7 billion at the end of fiscal 2017 and $278.9 billion at the end of fiscal 2016.Morneau has predicted the Trudeau government will have no difficulty selling the Trans Mountain pipeline expansion project after uncertainty about its future is resolved.The federal government’s hand was forced by B.C. Premier John Horgan, who is waging a court battle over the federally regulated pipeline, which would carry diluted bitumen from Alberta’s oilsands to a sea port near Vancouver.Machin told the finance committee that the Canada Pension Plan Investment Board has a mixed track record with pipelines and will use its usual approach when deciding whether to put money into Trans Mountain.In general, he said, a major factor to consider is regulatory risks — pointing out that CPPIB and its co-investors in a European pipeline were caught by surprise when the Norwegian government made a significant change in the tariff regime — or pricing structure — shortly after the deal closed.“We’ve been in legal proceedings for a number of years now,” Machin said.“That is part of the regulatory risk. It’s a really critical part of due diligence to understand regulatory risk for any infrastructure investment.”The federal government decided to buy Trans Mountain after Houston-based Kinder Morgan threatened to walk away from the pipeline expansion due to political uncertainty, particularly because Horgan’s New Democrat government said it will do everything in its legal power to stop the pipeline because of unresolved environmental concerns.Machin told the committee that the CPPIB hasn’t made a formal evaluation of Trans Mountain “purely because it’s at an early stage and we haven’t got any confidential information, or any information, to assess the situation yet.”The Ontario Teachers Pension Plan — another of Canada’s independent retirement fund managers — indicated last week that it had a financial obligation to take a look at the potential of Trans Mountain.— by David Paddon in Toronto
BERLIN — Thousands are marching in Berlin to demand that Germany make a quick exit from using coal-fired energy, a day before a U.N. climate summit opens in neighbouring Poland.Saturday’s march through Berlin’s government district and a simultaneous event in the western city of Cologne were organized by environmental groups. Many demonstrators carried flags with slogans like “Stop Coal!” and “The future is coal-free.”The summit opening Sunday in the Polish city of Katowice seeks to build on the landmark 2015 Paris accord, when countries agreed to try to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) by the century’s end.German officials had hoped to present a blueprint for phasing out Germany’s use of coal over the coming decades. But an expert committee postponed its report on that until after the U.N. conference.The Associated Press