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Otago Daily Times
5 hours ago
- Politics
- Otago Daily Times
Mayoral hopeful berates council chief executive
Wendy Baker. PHOTO: ODT FILES A Southland mayoral hopeful has taken shots at a council chief executive during a fiery public speech. On Wednesday, Wendy Baker presented to district councillors about the council's dog control policy and bylaw review. But her presentation began on an unrelated note when she read out a letter she had received from the minister of sports and recreation about her sporting accomplishments. "I wanted to bring that up because it's a positive letter of praise. And unfortunately, just recently, your CEO — who is extremely well paid — sent me a letter which was very upsetting to me," Ms Baker said. "This letter as you all know has gone to the ombudsman. A leader needs to build people up, and I will not be bullied when I do amazing amounts of volunteer work, which your council ignores formally, I feel." Ms Baker would not divulge the contents of the chief executive's letter, but confirmed to Local Democracy Reporting it was not related to the minister's letter. The letter was out of the blue, unnecessary and untimely, she said. "They should be praising the work I do and not sending a letter that upsets me." In response to questions, council chief executive Cameron McIntosh was tight-lipped. "We have raised some matters with Ms Baker. They are between council and Ms Baker," he said. "We will leave it with Ms Baker to decide if she wishes to share the contents of the letter with media." Ms Baker's presentation also took aim at the council over a perceived lack of dog control. She said a dog had come on to her property twice in three weeks — once on the eve of Anzac Day attacking a possum and once attacking a back fence at 4am. "I pay $4099.50 in rates to SDC ... and what do I get for it? Stuff all." The mayoral hopeful is one of three candidates in the running for the top job this October. At the 2022 election, she finished last out of six candidates with 211 votes. ■ LDR is local body journalism co-funded by RNZ and NZ On Air.
Khaleej Times
2 days ago
- Sport
- Khaleej Times
Latham out injured, Santner to lead NZ against Zimbabwe in opening Test
New Zealand captain Tom Latham will miss the opening Test against Zimbabwe with a shoulder injury and Mitch Santner will step in to lead the side, New Zealand Cricket said on the eve of the match beginning in Bulawayo on Wednesday. Latham suffered the injury while fielding during a T20 match for Birmingham in the Vitality Blast earlier this month and has not recovered sufficiently to be included in the playing 11, the NZC said. Latham will stay in Zimbabwe with New Zealand hoping he will be fit for the second test starting on Aug. 7. "It's hugely disappointing for Tom to be missing the first test, as captain but also as an integral part of the team," head coach Rob Walter said. "It's never great when you lose your captain, who's a world-class opening batter and a great team man, but that said we're going to work really hard to have him available for the second Test. "We'll continue to assess and see whether a replacement player is necessary, but at this stage we are hopeful that he'll recover in time." White-ball captain Santner oversaw New Zealand's T20 tri-series victory in Harare where they remained undefeated throughout the five-match series. "Mitch did a wonderful job with the T20 squad in this recent series," Walter said. "He was excellent from a strategy point of view and he has a strong understanding of the game. "Whilst the format is different, he certainly has the respect of the players and will be supported by some highly experienced Test cricketers, so I trust that he's going to do a great job."
Forbes
2 days ago
- Business
- Forbes
8 Business Valuation Mistakes And How To Avoid Them
Business man in suit with cityscape montage. The man is unrecognizable and you cannot see his face. ... More He is superimposed onto a city skyline at sunset. He is holding a telescope looking into the city. Success, vision concept with copy space. getty For high-net-worth individuals and business owners, obtaining an accurate business valuation is a cornerstone of effective estate planning. Whether planning for succession, considering a sale, or structuring wealth transfer strategies, a professional valuation performed by an accredited specialist can significantly impact your estate's value and tax efficiency. This critical step, based on precise modeling and comprehensive analysis, helps maximize wealth preservation and transfer strategies. In this article, we'll explore eight critical business valuation mistakes that could impact your legacy planning and wealth transfer strategies. Understanding these common pitfalls is essential for high-net-worth individuals, family business owners, and their financial advisors as they navigate the intricate landscape of estate tax planning and business succession. As part of a comprehensive estate planning strategy, obtaining a professional business valuation is crucial for long-term wealth preservation and succession planning. It ensures the business is ready for triggering events such as Buy-Sell Agreements, provides insight for estate planning to address tax implications, and aids in securing loans or attracting employees. Furthermore, a credible valuation allows for targeted value enhancement adjustments across operations, marketing, legal, and personnel, potentially boosting profitability and the eventual sale price. Selecting an experienced valuator skilled in such enhancements can streamline the process effectively. Unfortunately, a large percentage of business owners do not prepare a plan for the eventual sale of their company. According to a report by the Exit Planning Institute, many business owners' "lack of readiness prevents them from harvesting the value of their business..." Of those surveyed, 91 percent lacked a written personal plan of action following the transition of their business, and 30 percent never gave it a thought. More commonly, business owners wait until the eve of the sale to commission a valuation. By doing so, they may be unable to hire the best possible professional valuator. Moreover, since time is of the essence, the ultimate valuation prepared in haste may be lacking. A credible business valuation requires expertise and should be conducted by a qualified professional such as those certified by organizations like ASA, AICPA, or NACVA. While brokers and CPAs may offer valuation services, they often lack the specialized knowledge necessary for reliable results. This is especially critical in legal disputes, where valuations prepared by uncertified individuals are more likely to be challenged and discredited during a Daubert Challenge (which is a judicial process scrutinizing an expert's credentials and, therefore, the valuation's accuracy). Mistake #4: Neglecting the Power of Financial Statements Accurate and up-to-date financial statements are crucial for a proper business valuation. Business owners must ensure that their financial records are well-maintained and reflect the true financial health of the company. Inaccurate or outdated financial statements can lead to an undervaluation or overvaluation of the business, which can have significant financial implications. Market conditions play a vital role in determining the value of a business. Business owners should be aware of the current market trends and how they can impact the valuation of their business. Ignoring market conditions can result in a valuation that does not reflect the true market value of the business. Mistake #6: Undervaluing Intangible Assets Intangible assets, such as intellectual property, brand reputation, and customer relationships, can significantly impact the value of a business. Business owners should ensure that these assets are properly valued and included in the overall business valuation. Overlooking intangible assets can lead to an incomplete and inaccurate valuation. Mistake #7: Overlooking Tax Consequences Business valuations play a crucial role in estate tax planning and wealth transfer strategies. High-net-worth business owners must carefully consider how valuations impact estate tax liability, gift tax consequences, and generation-skipping transfer taxes. Working with experienced estate planning attorneys and tax advisors is essential to optimize valuation strategies and minimize potential tax burdens. Failing to properly structure business valuations within your estate plan could result in significant tax exposure and reduced wealth transfer efficiency. Mistake #8: Treating Valuation as a One-Time Event A business valuation should not be a one-time event. Business owners should update their valuations regularly to reflect changes in the business and market conditions. Regular updates ensure that the valuation remains accurate and relevant, providing a reliable basis for decision-making. Conclusion For high-net-worth individuals and business owners, avoiding these critical valuation mistakes is essential for effective estate planning and wealth preservation. A professional business valuation, conducted by qualified experts and regularly updated, serves as a cornerstone for strategic decision-making, tax efficiency, and successful wealth transfer. By understanding and addressing these common pitfalls, you can better position your business for long-term success while maximizing the value of your estate for future generations. Consider working with experienced estate planning professionals who can help navigate these complexities and ensure your business valuation aligns with your broader wealth management objectives. Thank you to Evan Levine and Nainesh Shah of Complete Advisors for their help and expertise in drafting this article
Indian Express
3 days ago
- Politics
- Indian Express
Russia's Roscosmos, NASA to hold first in-person talks at heads level since 2018, Russia says
The head of Russian space agency Roscosmos, Dmitry Bakanov, has arrived in Houston for talks with the interim head of NASA, Sean Duffy – the first in-person meeting at the agencies' heads level since 2018, Russian news agencies reported on Tuesday. Talks between Bakanov, the head of Roscosmos since February, and US Transportation Secretary Duffy, whom President Donald Trump named as NASA's interim head earlier this month, are scheduled for July 31, Russia's TASS state news agency reported. 'The parties plan to discuss ongoing joint projects,' TASS reported, citing a Roscosmos statement. The space program is one of the few international projects on which the United States and Russia still cooperate closely. Relations in other areas between the two countries have broken down since Russia's invasion of Ukraine in 2022. 'We plan to discuss the continuation of the cross-flight program, the extension of the International Space Station's operational life, and the work of the Russia-U.S. joint task force on the future safe deorbiting and controlled ocean disposal of the ISS,' TASS cited Bakanov as saying in the Roscosmos statement. Bakanov met with NASA Associate Administrator for Space Operations Ken Bowersox in April at the Russian-operated Baikonur Cosmodrome in Kazakhstan, according to TASS. But the last meeting between the heads of Roscosmos and NASA took place in October 2018, when Dmitry Rogozin, then director general of Roscosmos, met NASA Administrator Jim Bridenstine in person also at the Baikonur Cosmodrome, according to Russian media. Bakanov, together with NASA officials, will visit divisions of the Johnson Space Center and Boeing's production facility for talks with the company's space program leadership, RIA agency reported. On the eve of the launch of NASA's SpaceX Crew-11 flight, scheduled for July 31, Bakanov will meet with the crew of the Crew Dragon spacecraft, which includes Roscosmos cosmonaut Oleg Platonov, RIA reported. In the early days after Trump's return to office in January, Russia and the U.S. moved closer to restore relations, but the U.S. president has since grown impatient with Moscow, giving Russia on Monday 10-12 days to make progress toward ending the war in Ukraine.
Mint
3 days ago
- Politics
- Mint
Russias Roscosmos, NASA to hold first in-person talks at heads level since 2018, Russia says
-The head of Russian space agency Roscosmos, Dmitry Bakanov, has arrived in Houston for talks with the interim head of NASA, Sean Duffy - the first in-person meeting at the agencies' heads level since 2018, Russian news agencies reported on Tuesday. Talks between Bakanov, the head of Roscosmos since February, and U.S. Transportation Secretary Duffy, whom President Donald Trump named as NASA's interim head earlier this month, are scheduled for July 31, Russia's TASS state news agency reported. "The parties plan to discuss ongoing joint projects," TASS reported, citing a Roscosmos statement. The space program is one of the few international projects on which the United States and Russia still cooperate closely. Relations in other areas between the two countries have broken down since Russia's invasion of Ukraine in 2022. "We plan to discuss the continuation of the cross-flight program, the extension of the International Space Station's operational life, and the work of the Russia-U.S. joint task force on the future safe deorbiting and controlled ocean disposal of the ISS," TASS cited Bakanov as saying in the Roscosmos statement. Bakanov met with NASA Associate Administrator for Space Operations Ken Bowersox in April at the Russian-operated Baikonur Cosmodrome in Kazakhstan, according to TASS. But the last meeting between the heads of Roscosmos and NASA took place in October 2018, when Dmitry Rogozin, then director general of Roscosmos, met NASA Administrator Jim Bridenstine in person also at the Baikonur Cosmodrome, according to Russian media. Bakanov, together with NASA officials, will visit divisions of the Johnson Space Center and Boeing's production facility for talks with the company's space program leadership, RIA agency reported. On the eve of the launch of NASA's SpaceX Crew-11 flight, scheduled for July 31, Bakanov will meet with the crew of the Crew Dragon spacecraft, which includes Roscosmos cosmonaut Oleg Platonov, RIA reported. In the early days after Trump's return to office in January, Russia and the U.S. moved closer to restore relations, but the U.S. president has since grown impatient with Moscow, giving Russia on Monday 10-12 days to make progress toward ending the war in Ukraine. This article was generated from an automated news agency feed without modifications to text.
