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Inception SWIPRA - Press Release

New independent Swiss Proxy Advisor for Institutional Investors

Zurich, March 22, 2013 - Today the Swiss foundation Swiss Proxy Advisor (SWIPRA) announced its inception and the initiation of its operations. SWIPRA was founded by Swiss pension funds and foundations and is a non-profit organization with registered offices in Zurich, Switzerland. The scope of its business is to provide independent proxy advice to institutional investors on issues concerning general meetings of companies listed on the SIX Swiss Exchange. SWIPRA is independent and assesses meeting agendas and proposals to shareholders solely with the objective of long-term shareholder value generation. The strategic collaboration with the Department of Banking and Finance of the University of Zurich guarantees an objective as well as economically and empirically well founded view.

Through the adoption of the federal initiative Minder, Swiss-based pension funds will be required, by the countrys constitution, to cast votes at General Meetings of companies listed on the SIX Swiss Exchange. Specifically, they have to vote in the interest of their insured and to periodically disclose how they voted. In January of this year, economiesuisse, the Swiss business federation, published the Swiss Stewardship Code for Institutional Investors, which relates to the shareholder rights and duties of institutional investors. The code recommends that all institutional investors shall cast their votes and, additionally, shall publish their basic principles and processes leading to their decisions. Such information shall be published on a yearly basis. As a consequence, institutional investors will face increased responsibility and disclosure requirements regarding proxies, independently from the detailed legislation based on the new article of the Swiss constitution.

SWIPRA is an independent non-profit organization with the purpose to act as proxy advisor for institutional investors. SWIPRA will neither operate as an asset manager nor as a consultant for listed companies. SWIPRA will, in connection to General Meetings, assess agenda items as well as proposals to shareholders solely with the objective of long-term value generation and provide its recommendations independently from the issuer. This will be achieved by a combination of the following three elements: first, the recommendations are based on voting principles, the so-called Policy Considerations, which will be updated and adopted, as required, for each season of General Meetings. These Policy Considerations define, among others, the criteria for long-term and sustainable value-based management. Second, the collaboration with the Department of Banking and Finance (DBF) allows an economically and empirically well-founded view. Third, the basis for the individual voting recommendations is a multi-level, structured process. This process allows for an interaction with the issuer as well as an individual assessment of the situation whereby the management of SWIPRA will verify the draft recommendations as proposed by the DBF, in case of a disputable recommendation contact the issuer and involve the Board of Trustees.

SWIPRA was recently founded by three donors, the largest independent joint-foundation in Switzerland, vita Sammelstiftung, the association of Swiss investment foundations, KGAST, and a large pension fund, the pension fund of Credit Suisse Group (Switzerland). The Board of Trustees is composed of Prof. em. Dr. Rudolf Volkart (Chairman), Prof. Dr. Bruno Gehirg, Prof. em. Dr. Peter Forstmoser and Prof. Dr. Alexander F. Wagner from the Institute of Banking and Finance of the University of Zurich. The Board of Trustees appointed the economist and finance specialist Ms. Barbara A. Heller as Chief Executive Officer of the foundation. More information on the members of the Board of Trustees and the Chief Executive Officer can be found on http://www.swipra.ch .

The Board of Trustees will be responsible for regular updates and a thorough validity check of the Policy Considerations as well as the assessment of disputable recommendations. The foundation is emphasizing independence and transparency and has therefore developed an internal Code of Conduct regulating, among others, the exclusion of members of the Board of Trustees from voting on recommendations in case of a potential conflict of interest, i.e. recommendations in connection with companies where they have been member of a companys board within the past 5 years (Cooling Off Period). Information related to Cooling Off Periods will be disclosed on SWIPRAs webpage.

It is SWIPRAs goal to provide recommendations for the Annual General Meetings of the 50 largest companies listed on the SIX Swiss Exchange (SMI Expanded(R)) by 2014. SWIPRA will not appear publicly at General Meetings nor will it publish its voting recommendations. Clients will have access to SWIPRAs recommendations through the electronic platform Sherpany provided by Agilentia Ltd, Zurich, Switzerland.

Prof. Rudolf Volkart, Chairman of the Board of Trustees says: We are delighted that our founders appointed us with the task to build an independent and non-profit oriented proxy advisor with a process based on transparency and economic principles. The Board is convinced that our foundation can play an important role related to the upcoming voting requirements for pension funds in Switzerland.

About SWIPRA

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DGAP-News: SWIPRA: New independent Swiss Proxy Advisor for Institutional Investors

tutorial word press
proses seus lindos.

By: Lara Thaisa

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tutorial word press - Video

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A timeline of the day's events including the key players involved in the Labor leadership spill.

Julia Gillard has declared Labors leadership question settled, after she was elected unopposed as Prime Minister at a meeting of the Labor caucus.

Ms Gillard was the only nominee for the position with former Labor leader Kevin Rudd refusing to run for the leadership at the meeting on Thursday afternoon.

Prime Minister Julia Gillard arrives with her supporters for the caucus meeting. Photo: Alex Ellinghausen

Thursday's drama led to the swift departure of five Labor MPs from their government posts, including Regional Affairs Minister Simon Crean, who was dumped from the ministry after earlier calling for a spill of leadership positions and a switch back to Mr Rudd as prime minister.

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Other key backers of Mr Rudd - parliamentary secretary Richard Marles, chief government whip Joel Fitzgibbon and fellow whips Ed Husic and Janelle Saffin - will also vacate their posts.

On Thursday night, supporters and opponents of Julia Gillard declared that the idea of another Kevin Rudd prime ministership was now over. The developments came on the final parliamentary sitting day before the May budget and against a backdrop of Labor's continued poor showing in opinion polls ahead of the September 14 election.

Kevin Rudd arrives for the caucus meeting... "I take my word seriously." Photo: Andrew Meares

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I take my word seriously: Rudd

No holds barred and warts and all are typical qualifiers when it comes to rock-and-roll memoirs, but rarely do they fulfill the promise. Which makes it all the more refreshing when something like Official Truth, 101 Proof (Da Capo Press), by Pantera bassist Rex Brown, comes along. Pleasantries are dispensed sparingly in this unflinching, and often biting, but also affectionate portrait from the guy who at the time of the metal titans peak through the 90s was known as the quiet one.

I just said, this is going to be the truth, lets go ahead and put that out there, Brown tells me over the phone on the day Official Truth hit shelves. [Pantera] were honest. There was no contrived kind of crap that we put on; we were just the four individuals up on stage doing what we did, and I think with my book I had to be that way also.

Brown covers it all: from the Aqua Net infused 80s, during which the group ran the native Texas hair-metal circuit, through the stardom and messy years that ended in the shock of the on-stage murder of guitarist Dimebag Darrell in 2004 during a show by his band Damageplan. He also elaborates on his confusion about the animosity directed at himself and Pantera frontman Phil Anselmo by bandmate (and Darrells brother) Vinnie Paul.

We get along on a business level, and Philip and I always go, Hey Vinnie, howre you doing? Hell never reply. Or Ill talk to him about this and that and hell come around with a derogatory statement and I just dont need it....Im just about positive energy. I have so much empathy for him... all I can say is: what a great drummer.

Much of the metal press is already latching onto the more sordid details in Official Truth: the heroin abuse and overdose by Anselmo that many agree ultimately derailed the group, the financial battles with Vinnie and Dimes father, who, as producer of the bands early albums, took a huge chunk of royalties and continued to do so long after any official involvement with the band had ended. Even the funeral for Darrell is fraught with tension: an inebriated Eddie Van Halen (who gave a rambling eulogy) and an equally out-of-it Zakk Wylde threaten to become the focal point with their drunken antics. Meanwhile, Anselmo is stuck in a Texas hotel room, banned from the ceremonies but calling Brown for updates.

Theres also hilarity, as when Brown takes the band skiing, likening Paul to a giant Texan snowball, unable to stop and taking out entire families on his way down the slope. Its not meant to be a bummer or a downer, Brown says of the book. There are some great stories, the fun that we had and everything else. And thats what Ill remember about those days. I just go in depth about living the good and the bad.

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Rex Brown delivers the word on Pantera

A northern Kentucky judge has ruled that 18-year-old Austin Whaley cant say the word bingo for the next six months, the Associated Press reports. Apparently, Whaley was penalized for his antics at a Covington bingo hall.

Police Sgt. Richard Webster was working security at the bingo hall when Whaley and a group of his friends began to cause trouble, allegedly interrupting the game for several minutes by falsely yelling "bingo" and upsetting several players, the Associated Press reports. Webster decided to take action, citing the teenager for second-degree disorderly conduct.

Just like you cant run into a theater and yell fire when its not on fire, you cant run into a crowded bingo hall and yell bingo when there isnt one, Webster told Northern Kentucky News.

Luckily for Whaley, Judge Douglas Grothaus thought that jail time would be a bit too harsh of a punishment. Instead, Grothaus ruled that his days of crying bingo were overat least for the next six months.

According to the Associated Press, Grothaus told the Kentucky Enquirer that Whaleys clean record and status as a good kid led him to issue a light sentence. He also told the court that they needed to lighten up a bit.

With all the other things that happen in the court system and the families youre dealing with, youve got to keep a sense of humor, Grothaus added.

In this case, news outlets have certainly kept their sense of humor. The Huffington Post joked screaming 'bingo' was his shame-o while MSN wrote Never get between old ladies and their bingo.

At least Whaley will have a great story for his kids.

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Kentucky Teenager Austin Whaley Can't Say 'Bingo' For 6 Months, Judge Rules