Mediaboss Marketing

by Anna Hemy

The TT festival is fast approaching and Isle of Man Tourism would like to appeal to the Islands homeowners to help accommodate the thousands of visitors looking for somewhere to stay. If you have a spare room available and can offer guests accommodation on a bed and breakfast basis, or would consider rental of your entire property, the Homestay team would be very pleased to hear from you. Homestay can be offered during TT for any number of nights between 26th May and 10th June inclusive and homes are required to be inspected by Department officers before being registered for the scheme. Geoff Corkish MBE, MHK, Political Member for the Department of Economic Development with responsibility for Tourism said: We would welcome more residents to join this very popular scheme to enable more TT visitors to enjoy our Island and the TT spectacle. Registration costs just 15.00, covering public liability insurance. I would like to thank everyone who has registered in previous years and ask them to consider doing so again this year to ensure TT 2012 is a great success. TT Homestay registration closes on 30th April 2012 and the Department is unable to accept any applications after then. For further information and terms and conditions please download the Guidance Notes from http://www.visitisleofman.com/homestay. If you feel you meet the criteria and would like to register for the Homestay scheme please call the Homestay team on 686802 or email homestay@gov.im . - Ends -

We would welcome more residents to join this very popular scheme to enable more TT visitors to enjoy our Island and the TT spectacle."

Geoff Corkish MBE, MHK, Political Member for the Department of Economic Development

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

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Final Call For Householders to Register For TT Homestay 2012

by Aoife Donohoe

The first official Aer Lingus Regional flight, operated by Aer Arann, took to the skies from Isle of Man Airport to Dublin yesterday (Sunday, 25th March 2012).

Pictured launching the first Aer Lingus Regional flights from Isle of Man Airport were (from left) Aer Aranns Marketing Manager Sinead Murphy and Isle of Man Airport Director Anne Reynolds with Aer Lingus Regional cabin crew member Kitty Dillon.

With the Aer Lingus Regional service, Isle of Man passengers will benefit from connectivity on all Aer Lingus flights through Dublin offering not only excellent access to major European destinations such as Amsterdam, Paris, Brussels and Rome but also transatlantic connectivity on Aer Lingus flights to New York, Boston, Chicago and Orlando.

Passengers will also benefit from US Customs and Immigrations pre-clearance facilities at Dublin Airport that will allow them to arrive in the US as domestic passengers, saving valuable time.

Flights to Dublin with Aer Lingus Regional are available for booking on http://www.aerlingus.com.

- Ends -

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

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First Aer Lingus Regional Flight to Dublin Takes to the Skies From Isle of Man Airport

by Chris Boyde

Rally Isle of Man will burst into fresh life this September with a spectacular night-time action stage on the iconic Douglas promenade.

Organisers today announced that discussions with relevant authorities have seen permission granted for a road closure on Harris Promenade on the evening of Thursday 20th September, and a special stage that is purposely-designed for spectators, and that will add a new dimension to the event, will form the opening action of the three-day closed-roads classic.

Itll feature head-to-head action as two cars contest the stage side by side, something never before seen on a rally on the island.

The stage itself will take in the very heart of the Promenade with the area from Broadway across to the Rendezvous set to offer a real thrill for all motorsport fans. With the stunning background of Douglas Bay and the landmark Villa Marina and Gaiety Theatre complex as a further back-drop, it offers a wonderful viewing opportunity as well as a challenging route for crews.

Rally Isle of Man Chairman John Gill confirms the news. The organising team has been working on this stage for several months after an initial idea that came from one of the new members, Adam Warburton. Its great to be able to confirm that it has come to fruition. We have every reason to think itll become an instant hit with competitors and spectators alike and another element of the unique atmosphere created by our event.

Rally Isle of Man wish to thank the Isle of Man Government Departments of Infrastructure and Community, Culture and Leisure for their support as well as the Villa Marina and Gaiety Theatre management, Sefton Hotel and Douglas Corporation.

The Villa Marina is in a position to offer hospitality opportunities for the event, with balcony viewing of the stage, and any interested parties should contact the complex management directly.

In addition event organisers would be delighted from any other groups or activities that may be compatible with the location and stages to compliment and enhance the entertainment factor for spectators, and help create a truly memorable night.

Put the date in your diaries now get closer to Rally Isle of Man!

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Douglas Promenade Spectacular to Herald New Era For Rally Isle of Man

26 March 2012

The United States Securities and Exchange Commission (SEC) has announced that it has established two memoranda of understanding (MOUs) with the Cayman Islands Monetary Authority and the European Securities and Markets Authority (ESMA), as part of its long-term strategy to improve the oversight of regulated entities that operate across national borders.

SECs supervisory cooperation arrangements are said to enhance its ability to share information about regulated entities, such as investment advisers, investment fund managers, broker-dealers and credit rating agencies.

Supervisory cooperation arrangements help the SEC build closer relationships with its counterparts to cooperate and consult on each others oversight activities in ways that may help prevent fraud in the long term or lessen the chances of future financial crises, said Ethiopis Tafara, Director of the SECs Office of International Affairs.

The SECs supervisory cooperation arrangements generally establish mechanisms for continuous and on-going consultation, cooperation and the exchange of supervisory information related to the oversight of globally active firms and markets. They enhance its ability to share information about regulated entities, such as investment advisers, investment fund managers, broker-dealers and credit rating agencies.

Such information may include routine supervisory information as well as the types of information regulators need to monitor risk concentrations, identify emerging systemic risks, and better understand a globally-active regulated entitys compliance culture. The MOUs also facilitate the ability of the SEC and its counterparts to conduct on-site examinations of registered entities located abroad.

The SEC entered into its first supervisory cooperation MOU in March 2006 with the United Kingdoms Financial Services Authority, but, following the recent financial crisis, the SEC has expanded its emphasis on this form of continuous supervisory cooperation in an effort to better identify emerging risks to US capital markets and the international financial system.

As part of this effort, the SEC has co-chaired an international task force in 2010 to develop principles for cross-border supervisory cooperation. These principles have since proven to be a useful guideline for structuring MOUs around the type of information to be shared, the mechanisms which regulators can use to share information, and the degree of confidentiality this information should be accorded.

The two MOUs reached this month follow on a similar supervisory arrangement that the SEC concluded with the Quebec Autorit des marchs financiers and the Ontario Securities Commission in 2010, and expanded to include the Alberta Securities Commission and the British Columbia Securities Commission last September.

The SEC attaches particular importance to the Cayman Islands as a major offshore financial centre and home to large numbers of hedge funds, investment advisers and investment managers that frequently access the US market, while ESMA fosters regulatory convergence among European Union securities regulators.

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SEC Enhances Cooperation With EU, Cayman Islands

In recent years, hundreds of thousands have fled California due to the high cost of living and its restrictive regulation and taxation. Individuals and firms have relocated to Texas, Nevada, Utah, and Colorado. Unfortunately, New Mexico has not benefited much from this situation. What is the reason for this? What is New Mexico lacking? The answer is economic freedom. While New Mexico's neighbors all have above-average economic freedom, New Mexico ranks below all U.S. states with the exception of West Virginia. In order for New Mexico to be considered a competitive alternative for businesses to locate, it must make reforms that increase economic freedom.

First, New Mexico needs to give more freedom to workers and employers to negotiate wages that are mutually beneficial without government interference. New Mexico has one of the highest poverty rates in the country, with average wages well below the national average. To combat this condition, New Mexico has imposed the most restrictive minimum wage in the region, which is currently set above the federal level. It has a higher minimum wage than Utah, Texas, and Oklahoma. It is true that Arizona and Colorado have slightly higher minimum wages, but the minimum wage is still more restrictive in New Mexico given its relatively lower market wages.

Additionally, the city of Santa Fe has set its own local minimum wage to $10.29 an hour, the highest rate of any city in the nation. This is astounding economic malpractice in such

Policymakers favoring a higher minimum wage have the mistaken notion that legislating higher wages leads to higher labor productivity. Economic research has demonstrated that it just does not work out that way. Higher wages are the result of policies that lead to higher productivity. The minimum wage only hurts the very group that it intends to benefit by reducing employment opportunities for the least well off. Why would firms choose to locate in New Mexico rather than Texas and Utah which already having thriving private sectors to work with? It makes no sense to artificially introduce policies that put New Mexico at a further disadvantage.

Second, New Mexico's economy is too dependent on the public sector as measured by government consumption, transfers and subsidies, and government employment. This must be reversed. New Mexico government has recently cut spending, but much more needs to be done in the coming years. A prosperous economy cannot be too dependent on the government sector, at least not in the long run.

As governments are forced to make necessary cuts due to unsustainable government spending that has taken place in recent decades, New Mexico will suffer disproportionately to states that are less dependent on the public sector. If the size and scope of government were reduced in New Mexico, more businesses would be willing to locate within its borders and new businesses, which add value to society, will be more likely to succeed. A good start would be to reform public pensions, which are significantly underfunded.

Finally, New Mexico has a tax burden higher than the national average. In terms of the income tax, New Mexico is comparable to neighboring states with the exception of Texas, which has no income tax. New Mexico could improve its economic freedom by eliminating the gross receipts tax and replacing it with a less complicated sales tax and reducing the corporate income tax rate, which is one of the highest in the region.

New Mexico has lagged behind the rest of the country for too long. It's time to make the reforms that will allow New Mexico to thrive. Excessive government involvement in the economy has not been effective in improving economic opportunities for the majority of New Mexicans.

Policymakers will do better by returning to individuals the ability to determine their own economic paths through lowering restrictions that currently limit economic freedom.

Nathan J. Ashby holds the Western Hemispheric Trade Research Professorship at the University of Texas at El Paso and is co-author of Economic Freedom of North America published by the Fraser Institute. He will be speaking at an event hosted by Rio Grande Foundation from 5 to 6:30 p.m. Wednesday at St. Paul's United Methodist Church.

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Their View: New Mexico needs more economic freedom