iNews Briefs & Community Events
Community Events
MAY 14
Ballet Magnificat, comes to Cayman
The Christian ballet company, Ballet Magnificat, comes to Cayman for a two night performance. Dancers will bring author C.S. Lewis’ novel The Screwtape Letters to life with the production called Stratagem. Thursday 14 May 7:00 p.m.
CI Baptist Church, Pedro Castle Road
946-2422
FREE Admission
Sports in Socio-political territory book launch
Dr. Dalton Watler, President of the Cayman Islands Athletes Association, is launching his new book “Sports in Socio-political Territory”.
Date: Thursday 14 May
Time: 7:00 p.m. to 8:30 p.m.
Location: Books & Books – Camana Bay
CONCACAF Under 15 Boys’ Youth Tournament volunteers needed
The Cayman Islands Football Association has been chosen as the host for the CONCACAF Under 15 Boys’ Youth Tournament from August 11th through the 23rd. There is an information meeting for volunteers on Thursday (14 May) at 530pm at the George Town Town Hall.
Chartered Alternative Investment Analyst Association launch
The Chartered Alternative Investment Analyst Association is hosting its official Cayman Islands chapter launch which includes a free lecture and networking event on Thursday (14 May) at 530pm at the Marriott. Registration is required. Call 929.4682 for more information.
Special Lecture ‘How & Why’
The National Gallery’s Special Lecture ‘How & Why’ is Wednesday (14 May) at 6pm.
U-14 Academy team claims Cayman Youth Cup Championship
From Chicago Fire Soccer Club
Squad defeats IMG Academy in Sunday night title game
GRAND CAYMAN (May 12, 2015) — The Chicago Fire Academy U-14 team claimed the championship at the Cayman Airways Invitational Youth Cup on Sunday (May 10) when the squad defeated the IMG Academy (Fla.), 1-0, in the tournament final.
Andrew Akindele (pictured, right), who assisted on AJ Reynolds’ game-winning first-half goal in the championship match, received tournament MVP honors.
The Chicago Fire Academy was one of eight teams participating in the tournament, along with Cayman Islands U-15 National, St. George’s College (Jamaica), the IMG Academy (Fla.), Academy Select Sports Club (Cayman Islands), West Bay Select (Cayman Islands), Club Deportivo Motagua (Honduras) and Ipswich Town FC (England).
After defeating Cayman Islands U-15 National (3-0) in the opening game of group play, the Fire endured a 1-0 loss to the same IMG Academy side it would see again in the tournament final. The Fire bounced back with a 4-1 defeat of St. George’s College and advanced to the final thanks to a 4-0 victory against Ipswich Town FC in the semifinal.
For more: http://www.chicago-fire.com/news/2015/05/u-14-academy-team-claims-cayman-youth-cup-championship
Six US Marines missing in Nepal quake zone: US Military
From Newsmax
A U.S. Marine Corps helicopter involved in disaster relief efforts in Nepal was declared missing on Tuesday while working in the vicinity of Charikot village, a spokesman for U.S. Pacific Command said.
Army Major David Eastburn, the spokesman, said U.S. military personnel were responding to the disappearance of the UH-1 Huey helicopter and the incident was under investigation. Eastburn said it was not immediately clear how many people may have been aboard the helicopter when it was declared missing.
Charikot was one of the villages hardest hit by a 7.3 magnitude quake on Tuesday
For more: http://www.newsmax.com/Newsfront/marines-missing-nepal-quake/2015/05/12/id/644096/#ixzz3Zyoriu7q
Cayman HospiceCare lauds Nurse Specialist, Heather Huizinga
From Loop Cayman
The Cayman HospiceCare has recognised the work of Palliative Nurse Specialist, Heather Huizinga.
Huizinga was born in Ireland and started nursing at age eighteen.
She has worked as a Palliative Care Nurse for the past 16 years. A mother of three and the wife of a surgeon, she has spent almost half of her life living in Muslim communities around the world, Cayman HospiceCare wrote on Facebook.
Huizinga trained in Palliative Care at the renowned Marie Curie Hospice based in England before coming to Cayman HospiceCare in 2003.
“I love Hospice life. Every family is different and special, and every death is special. We are there not to try to solve things but to help,” she said.
For more: http://loopcayman.com/2015/05/12/cayman-news-community-cayman-hospicecare-lauds-heather-huizinga/
FBI Invested in the Caribbean
From National broadcasting Corporation of St Kitts & Nevis
ChrisWerrenger-1(ZIZ News) – A senior official of the Federal Bureau of Investigation (FBI) said the organisation is heavily invested in the Caribbean and its crime fighting efforts.
Deputy Assistant Director of the FBI, Chris Werrenger said the Bureau values its international partners, such as Caribbean law enforcement agencies. He noted that information sharing leads to successful crime-fighting efforts.
He said, “Our international presence overseas is invaluable. Our partnerships overseas are invaluable. And the only way we can combat organised crime or terrorism, cyber-crime is to have this constant flow information.”
He also noted that working with regional police has led to hundreds of arrests in the Caribbean drug trade.
“In the past year, there have been, through our joint efforts of our entire law enforcement community, there have been 1800 arrests of trans-national criminal elements, there have been 300 leaders that have been arrested, 100 disruptions and dismantlement, 943 metric tonnes have been seized and 241 kilos of heroin,” Werrenger revealed.
He encouraged police officials in the Caribbean to contact the FBI agents responsible for the region to establish lines of communication.
For more: http://zizonline.com/fbi-invested-in-the-caribbean/
One in six Cayman youth tried to commit suicide – Report
From Loop Cayman
Nearly a quarter of the 995 adolescents in the Cayman Islands say they had suicidal thoughts in the past year.
What’s more, one in six of those had tried to kill themselves, according to the Adolescent Health and Sexuality Survey.
“The picture that emerges from these results is of adolescents vulnerable to ill-health and even suicide due to violence and lack of emotional support from key institutions, namely the family, school and health care services,” the report said.
There is also concern about the substantial levels of mental ill-health, including loneliness, anxiety, depression and suicidal thoughts, particularly among teenage girls.
But health officials say though the findings are alarming, the report show that the prevalence of physical and sexual abuse, are similar to and in some cases lower than global statistics.
The report was done in 2013 but health officials say they did not receive the final draft until January this year.
For more: http://loopcayman.com/2015/05/13/cayman-news-one-in-six-cayman-youth-tried-to-commit-suicide-report/
American Airlines: 8.1 percent decline in Latin America, Caribbean
From Caribbean Journal
American Airlines Group is reporting an 8.1 percent decline in revenue passenger miles for the Latin America and Caribbean region for April, according to a new company statement.
The company reported just under 3.23 billion revenue passengers in the region last month, down from 3.51 billion in the same month in 2014.
The decline was part of a wider 5.7 percent international reduction in RPM last month.
In the same period, load factor to Latin America and the Caribbean slowed by 0.6 percentage points to 75.6 percent.
The carrier has been reporting a steady decline in its Latin America and Caribbean numbers in recent months, according to an analysis by Caribbean Journal.
Traffic numbers included both American Airlines and US Airways results.
fDi Forum 2015: Hong Kong & London
The fDi Forums 2015, brought to you by fDi Magazine and FT Live, will once again assemble a high-level strategic ensemble of CEOs, CFOs, managing directors and other decision-makers from the corporate sector.
The forum will take place in two locations this year:
Conrad Hotel, Hong Kong, 30 June 2015.
Kings Place, London, 24 September 2015.
If you are interested in attending, click here: [email protected]?subject=fDi
You can also join us as a sponsor – some of the benefits:
Powerful positioning and brand-alignment
Your brand will appear on all printed collateral, the forum website and advertisements on the event run in fDi Magazine and the Financial Times newspaper.*
Return on investment
Sponsors get to engage and influence 150-200 corporate decision makers.
Demonstrate thought-leadership
Emphasize your credibility through a speaking opportunity.**
Lead generation
Through numerous networking opportunities – during the breaks, the lunch and at the drinks reception.
If you are interested in joining us as a sponsor email [email protected]
*Subject to availability
**Subject to final editorial approval
Itaú-led [by Cayman Islands branch] group sues Brazil’s Schahin for $371 mln in overdue loans
BRASILIA From Reuters
May 12 Thirteen Brazilian and international banks filed a lawsuit in New York on Tuesday against two units of ailing engineering and oil conglomerate Grupo Schahin to recover $371 million in overdue principal and interest on loans.
The lawsuit comes weeks after Schahin sought for protection from creditors in Brazil and the United States, and fired 2,500 workers as a corruption scandal at key client Petróleo Brasileiro SA hampered its efforts to refinance up to 6.5 billion reais ($2.1 billion) in debt.
The banks, led by the Cayman Island-based branch of Itaú Unibanco Holding SA, are seeking to recover guarantees pledged as collateral on loans made in 2009 to rig leasing company Deep Black Drilling LLP and guaranteed by Schahin Engenharia SA.
The lawsuit also involves Schahin Holding SA, court documents obtained by Reuters showed.
Other banks include the Cayman Island units of Banco Bradesco SA, HSBC Holdings Plc’s Brazilian unit, Banco Santander Brasil SA and Colombia’s Bancolombia SA.
($1 = 3.0197 Brazilian reais) (Reporting by Anthony Boadle; Editing by Guillermo Parra-Bernal)
For more: http://www.reuters.com/article/2015/05/13/schahin-lawsuit-idUSL1N0Y403420150513
WuXi PharmaTech (Cayman) (WX) set to announce quarterly earnings on Thursday
Posted by Reagan From The Legacy
WuXi PharmaTech (Cayman) logoWuXi PharmaTech (Cayman) (NYSE:WX) is scheduled to be issuing its Q1 quarterly earnings data on Thursday, May 14th. WuXi PharmaTech (Cayman) has set its Q1 guidance at $0.30-0.32 EPS and its FY15 guidance at $1.73-1.78 EPS.Parties that wish to register for the company’s conference call can do so using this link.
WuXi PharmaTech (Cayman) (NYSE:WX) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.02. The company had revenue of $190.60 million for the quarter, compared to the consensus estimate of $189.54 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, analysts expect WuXi PharmaTech (Cayman) to post $1.76 EPS for the current fiscal year and $2.03 EPS for the next fiscal year.
Shares of WuXi PharmaTech (NYSE:WX) opened at 42.98 on Wednesday. WuXi PharmaTech has a 52-week low of $29.84 and a 52-week high of $45.42. The stock has a 50-day moving average of $40. and a 200-day moving average of $37.. The company has a market cap of $3.04 billion and a P/E ratio of 28.28.
A number of analysts have recently weighed in on WX shares. Analysts at Zacks reiterated a “strong sell” rating on shares of WuXi PharmaTech (Cayman) in a research note on Friday, May 1st. Analysts at Credit Suisse downgraded shares of WuXi PharmaTech (Cayman) from an “outperform” rating to a “neutral” rating in a research note on Thursday, March 12th. Analysts at Morgan Stanley reiterated an “overweight” rating and set a $42.00 price target on shares of WuXi PharmaTech (Cayman) in a research note on Tuesday, March 10th. Finally, analysts at Goldman Sachs downgraded shares of WuXi PharmaTech (Cayman) from a “conviction-buy” rating to a “neutral” rating and lowered their price target for the stock from $44.50 to $39.50 in a research note on Friday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. WuXi PharmaTech (Cayman) presently has a consensus rating of “Hold” and an average price target of $38.65.
WuXi PharmaTech (NYSE:WX) Inc is an open-access research and development platform company. The Company is engaged in serving the pharmaceutical, biotechnology, and medical device industries. The Company provides a portfolio of laboratory and manufacturing services in the drug and medical device research and development process.
Cayman Islands Energy Summit on June 4
From Loop Cayman
George Town MLA Winston Connolly hopes that attendees will benefit by hearing the Cayman Islands Government’s perspective on energy.
Key experts in the energy field will converge at the Cayman Islands Energy Summit on June 4 at the George Town Town Hall at 6:00 p.m.
There, they will look into how renewable energy can be maximised and implemented most effectively in the Cayman Islands.
George Town MLA Winston Connolly “hopes that attendees will benefit by hearing the Cayman Islands Government’s perspective and policy for the renewable energy sector, gain an international perspective, look beyond diesel and solar, discuss issues around social/government acceptance of renewable energy projects and learn how we can reduce total energy costs.”
Items to be discussed are plans for government’s energy policy, Caribbean Utilities Company’s energy plans, community energy projects, international best practice in developing renewables and unique issues to address in the island.
For more: http://loopcayman.com/2015/05/12/cayman-news-business-cayman-islands-energy-summit-june-4/
Record-breaking remittances received in Caribbean, Latin America in 2014
WASHINGTON, May 13 (BERNAMA-NNN-CARIBBEANNEWS) — Remittances to Latin America and the Caribbean set a new record high in 2014, the increase reflecting significant growth in remittance flows to Mexico (8 per cent), Central America (7.4 per cent) and the Caribbean (6.3 per cent), linked to the recovery of the economy and labour market in the United States.
However, there was a decrease of 1 percent to South America, partly due to the economic situation in Spain, which constitutes a major source of remittance flows to that sub-region.
Since the 2008-2009 international financial crisis, and up until 2013, the total amount of remittances sent by migrants to their countries of origin had failed to match the levels of 2008, when they reached a record high of almost $65 billion.
“Remittances remain an important source of income for millions of families in Latin America and the Caribbean,” said Fernando Jimenez-Ontiveros, acting general manager of the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group.
“The remittance sector has evolved by adopting new technologies and options for sending and receiving, and has seen a decline in fees. However, it is essential to continue working so that those who receive them have opportunities for savings and investment.”
Mexico, which receives more than a third of all remittances sent to the region, continues to be the largest recipient, with $23.6 billion, followed by Guatemala with $5.5 billion, the Dominican Republic with $4.5 billion, El Salvador with $4.2 billion, and Colombia with $4 billion.
According to the MIF-IDB report, the recovery of remittances is projected to continue or even accelerate in 2015, given growth forecasts for the United States, Spain, and Latin America.
For more: http://www.bernama.com.my/bernama/v8/wn/newsworld.php?id=1134015
Water shortage, dry spells haunt Caribbean
The Jamaica Gleaner
Water shortage, dry spells haunt Caribbean
BRIDGETOWN (CMC):
Caribbean countries are experiencing a prolonged spell of dry weather, leading to a shortage of drinking water, regional officials have said.
The Office of Disaster Management (ODM) in Dominica said the present weather in the Eastern Caribbean is an indication that the region is experiencing “moderate to severely dry conditions”.
“The information received point to the fact that Dominica weather is abnormally to moderately dry while Antigua and Barbuda is severely dry and Anguilla as extremely dry. Guyana has advanced its drought plan as it to experiences dryer than normal conditions,” the ODM said in a statement.
In St Lucia, the Meteorological Services said the outlook for May is for below normal rainfall in a country that is already experiencing a dry spell that has been affecting water supplies to most communities,.
The Water and Sewerage Company said it has developed a dry-weather water-management plan and has commenced its implementation, which includes adjustments to existing water-supply schedules.
For more: http://jamaica-gleaner.com/article/world-news/20150513/water-shortage-dry-spells-haunt-caribbean
‘How stupid is stupid?’
Gail A. Marquis From Caribbean Life
To my fellow New York Liberty supporters, just when you thought you might go back and see a Liberty women’s pro basketball game, James Dolan, the chairman of Cablevision, the parent company of Madison Square Garden and the NY Knicks, names Isaiah Thomas to be the new president of the NY Liberty of the WNBA. Thomas is also being offered the option to buy a part of the NY Liberty team at some point in the near future. [NY Times, May 5, 2015, Sports, “James Dolan Gives an Executive Another Shot, Deserved or Not”].
This is the same Isaiah Thomas who a Federal District Court jury ruled had sexually harassed then NY Knicks President, Anucha Browne, a woman. She was awarded $11.6 million in punitive damages paid by MSG and James Dolan.
This is the new president of the NY Liberty of the WNBA?
Evidently Dolan and CableVision have no respect for women or the women’s game or what we have built. I’m all done AGAIN with the Liberty. They almost had me. But they are helping me to stay on budget and away from women’s pro basketball all together.
I can’t wait till the NY Liberty sales rep calls saying they have a great season subscription for me. I am gladly going to tell them to buzz off. Don’t ever call me again. Any company that would hire a convicted sexual harasser to oversee the women’s team is too stupid to receive any of my support and money.
Ugh. Disgusting. All done, again.
For more: http://www.caribbeanlifenews.com/stories/2015/5/2015-05-11-letter-isaiahthomas-cl.html
Two students presented with outstanding service award
From Duke University
May 12, 2015 – This spring, the Center for Latin American and Caribbean Studies was pleased to present two students, Andrew Kragie and Kaley Deal, with the Dennis A. Clements Outstanding Service Award in Latin American and Caribbean Studies on Friday, May 8.
The award was created to honor Dr. Dennis Clements, former director of the center, for his dedication, creativity, leadership, humor, and social entrepreneurship, and the many years his Exploring Medicine program has benefitted the people of the central highlands of Honduras.
Dr. Clements’ ability to bring people together from different disciplines and centers, his dedication to providing health care to rural areas of Central America, his mentorship as a teacher in the Global Health program, his support for scientific and artistic research in Latin America and the Caribbean, and his support for the people of CLACS in their own professional endeavors has made our community a better place.
This award is a small token of our appreciation for Dr. Clements’ leadership and friendship over the years and a way to maintain his legacy in our Center.
The award is presented each year to an undergraduate or graduate certificate student who has demonstrated extraordinary commitment to service, civic engagement, and social entrepreneurship in Latin America and/or the Caribbean during their time at Duke. This year, CLACS decided to present the award to two undergraduates. Each received a $250 prize.
Andrew Kragie, senior in Political Science and Public Policy, was selected for his work with DukeEngage in Salvador da Bahia, Brazil (Summer 2013 internship with microfinance organization); a year of English as a Second Language tutoring with GANO in Durham, and work with the Interfaith Council on campus.
Kaley Deal, senior in Public Policy, worked with La Vicaría’s Programa Refugio in Chile, the Casa Teatro El Poblado in Colombia, and with the Pauli Murray Project and Partners in Learning in Durham.
Andrew and Kaley were also recipients of the CLACS Undergraduate Certificate in Latin American and Caribbean Studies.
Congratulations are in order to both for their success and for their continued dedication to service.
Child death case against Toys R Us returns to State Court
By P.J. D’Annunzio, From The Legal Intelligencer
A federal judge has ruled that a suit against Toys R Us, Babies R Us and others involving two children who were killed by a falling dresser can be sent back from federal court to the Beaver County Court of Common Pleas.
U.S. Magistrate Judge Cynthia Reed Eddy of the Western District of Pennsylvania granted plaintiff Deborah DeCostro’s motion to remand based on a lack of subject-matter jurisdiction. Prior to DeCostro’s motion, defendants Toys R Us, Babies R Us and former assistant store manager Michael Blain filed a notice of removal to federal court.
DeCostro, a lawyer who administers the estates of Ryeley E. Beatty and Brooklyn N. Beatty, sued Baby Cache Inc. along with the other defendants after a dresser purchased from the defendants tipped over and asphyxiated Brooklyn and Ryeley, who died at ages 2 and 3, respectively.
According to Eddy’s memorandum, the defendants argued that DeCostro had no standing to bring Unfair Trade Practices and Consumer Protection Law (UTPCPL) claims against Blain—who the defendants claim was fraudulently joined in the suit to circumvent diversity jurisdiction—because DeCostro was not the purchaser of the dresser.
However, Eddy said DeCostro had a right to make those claims as a representative of the deceased plaintiffs.
“Defendants do not cite any case law holding that a representative of minor decedents may not bring a UTPCPL claim solely as a legal representative of the minor decedents’ estates,” Eddy said. “The complaint alleges that the dresser was purchased on behalf of the minor decedents and in justifiable reliance of the alleged misrepresentations made by Blain. The minor decedents were incapable of purchasing this equipment for themselves at the time of the sale and plaintiff DeCostro is bringing this action on their behalf solely in a representative capacity.”
The plaintiffs’ motion to remand, highlighted in Eddy’s opinion, said that the dresser was sold to the children’s mother and grandmother by Blain, who “misrepresented the condition of the subject dresser as meeting all applicable safety standards thereby through deceptive means inducing the minor decedents’ mother and grandmother into purchasing the subject dresser for them.”
“Additionally,” the motion continued, “it is alleged that defendant Blain sold the dresser at a reduced price as a floor model when in fact the price had been reduced because the dresser lacked appropriate labels, warnings, and anchoring devices.”
Blain’s alleged conduct, DeCostro claimed, amounted to unfair business practices under the UTPCPL because the deceased minors’ mother and grandmother relied on Blain’s description of the dresser when deciding to purchase it.
In opposition, the defendants argued that DeCostro failed to put forth a “viable” UTPCPL claim. However, Eddy said viability had nothing to do with joinders.
Eddy cited the guidelines governing joinders, which stated that joinders are fraudulent only when “there is no reasonable basis in fact or colorable ground supporting the claim against the joined defendant, or no real intention in good faith to prosecute the action against the defendants or seek a joint judgment.”
“In other words,” Eddy said, “the court need only assess whether the plaintiff’s claims are ‘wholly insubstantial or frivolous.'”
Based on that reasoning, Eddy said the defendants failed to meet the burden of proving that DeCostro had no standing to file suit, nor did they prove that a representative of deceased minors cannot bring a claim under the UTPCPL.
“Accordingly, the court finds that Blain was not fraudulently joined in this matter,” Eddy said. “Whether plaintiffs have stated a claim against Blain for violation of the UTPCPL is not for this court to decide, as the court finds that it lacks subject-matter jurisdiction to make such a determination.”
Kelly M. Tocci of McMillen, Urick, Tocci, Fouse & Jones in Aliquippa represented DeCostro and said the next step is to get the case under way.
“We don’t even have an actual answer to the complaint from the defendants yet, so they’ll respond and then we’ll get into discovery,” Tocci said.
Thomas P. Birris of Marshall Dennehey Warner Coleman & Goggin represented Baby Cache, and Judith A. Moses of Cipriani & Werner in Pittsburgh represented Toys R Us, Babies R Us and Blain. None of the attorneys returned calls seeking comment.
IMAGE: AP Photo/Dallas Morning News, Stan Olszewski
For more on this story go to: http://www.thelegalintelligencer.com/id=1202725767664/Child-Death-Case-Against-Toys-R-Us-Returns-to-State-Court-#ixzz3ZYlnUdVY
