FXPro to announce plans for Aim float

first_img Share KCS-content whatsapp RETAIL broker FXPro will today signal its intention to float on the AIM junior stock market, in a move that could make existing shareholders up to £60m. An announcement to the stock market is expected at 7am today, when the Cyprus-based firm will outline its plan to place 30 per cent of its existing shares with institutional investors through the stock exchange. The foreign exchange and futures broker, which launched in 2006, is set to be valued at around £200m. Founder Denis Sukhotin and managing director Panagiotis Xydas are among the shareholders who will net a total of £60m if the float goes to plan. The firm, which sponsors Premier League football clubs Aston Villa and Fulham, hopes to join the market before October. The firm specialises in giving individual investors access to foreign exchange trading, and also offers a platform to trade metals, indices, futures and contracts for difference, which provide exposure to share prices without owning the underlying stock. The company boasts customers in 150 different countries, and currently employs more than 170 people worldwide. It hired Old Mutual’s former chief executive Jim Sutfliffe as a non-executive director at the end of June. Forex trading has grown in popularity since the financial crisis, with more than $4 trillion changing hands every day, according to a recent survey by the Bank of International Settlements. Industry-wide turnover has grown 20 per cent since 2007, with the UK making up more than a third of global trading volumes. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proofcenter_img Show Comments ▼ Tags: NULL Sunday 5 September 2010 10:00 pm whatsapp FXPro to announce plans for Aim float last_img read more

Moody’s: Earthquake costs could accelerate Japanese debt crisis

first_img THE earthquake and tsunami in Japan could bring forwards a crucial “tipping point” for market confidence in its sovereign debt, according to Moody’s Investor Services.Ratings agencies have so far held off reviewing the status of Japan’s debt, which S&P recently downgraded, saying that it will take time for the fiscal consequences of the tragedy to become clear. The country’s debt-to-GDP ratio is forecast to exceed 200 per cent this year.Moody’s said it understood that Tokyo will have to suspend tackling its debt in order to provide relief to the millions left homeless by the disaster.But the agency’s Thomas Byrne said: “A tipping point may be reached at some point if the market loses confidence in the soundness of government finances… The earthquake may have shifted such a potential tipping point a bit forward.”S&P agreed that there would be no immediate effect on Japan’s rating but said: “The additional costs will add to the already existing fiscal weaknesses.”Around 90 per cent of Japan’s public debt is owned by domestic savers, many of them pension funds, which has so far enabled it to keep interest rates low despite its high debt load. KCS-content Share whatsapp whatsapp Moody’s: Earthquake costs could accelerate Japanese debt crisis Show Comments ▼ Monday 14 March 2011 9:37 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULLlast_img read more

Rank hit by revenue drop despite digital growth

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 18th October 2018 | By contenteditor Bingo Rank hit by revenue drop despite digital growth Email Address Rank Group saw its share price tumble further this morning as digital gains failed to prevent an overall decline in group revenue. In a trading update issued today (Thursday), Rank reported that group revenue dropped almost 5% year-on-year in the 16 weeks to October, mainly due to declines within its venue business, where revenue was down around 6%. Revenue from Rank’s Grosvenor Casinos venues fell just over 7%, driven by a reduction in handle and margin from high spending customers, while a drop in visitors led to a 5% revenue drop from Mecca venues. However, the situation was different for Rank’s digital platforms where it saw overall revenue growth of 1.7%, driven by a 6.4% climb in revenue from its Mecca digital channel. Grosvenor’s digital channel was hit by what Rank described as “more stringent customer due diligence” implemented from September 2017, which contributed to a 5.2% drop in revenue.Rank’s share price was down by around 2% at one point this morning, and has fallen almost 6% in the last week. The firm also highlighted a positive performance by YoBingo, the Spanish digital bingo operation that it acquired in May of this year. This was excluded from the like-for-like digital revenue figures. Rank reported that YoBingo enjoyed a 46% year-on-year jump in revenue and had this been included in the results, overall digital revenue would have jumped 13.5%. The trading update comes after new Rank chief executive John O’Reilly in August pledged to change the fortunes of the company, saying its performance “isn’t good enough”. O’Reilly was speaking as Rank announced its full-year results for the 12 months to June 30, 2018, revealing a fall in revenue, profits and other key indicators. The former Ladbrokes and Gala Coral executive, who only took the job in April, called for a “stronger operational focus”, and the firm has seemingly stuck to this pledge, revealing potential cost savings in today’s trading update.The update said: “The transformation programme has identified some early cost savings for the full year which, in part, are expected to mitigate Grosvenor Casinos venues’ revenue shortfall in the 16-week period.”The transformation programme, announced earlier this year, is aimed at delivering revenue growth, greater cost efficiency and improved organisational effectiveness. The company has identified increased focus on the customer, digital growth, cost efficiencies and organisational capability as four key areas of improvement. Rank was recently slapped with a £500,000 (€569,600/$655,500) fine by the UK Gambling Commission for breaching problem gambling rules, after a customer lost £1m in a single 24-hour period. Regions: UK & Ireland Subscribe to the iGaming newsletter Topics: Casino & games Finance Bingo Tags: Mobile Online Gambling Venue revenue falls more than 6% but Mecca digital boosts resultslast_img read more

Mauritian Eagle Insurance Co. Limited (MEI.mu) 2017 Annual Report

first_imgMauritian Eagle Insurance Co. Limited (MEI.mu) listed on the Stock Exchange of Mauritius under the Insurance sector has released it’s 2017 annual report.For more information about Mauritian Eagle Insurance Co. Limited (MEI.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Mauritian Eagle Insurance Co. Limited (MEI.mu) company page on AfricanFinancials.Document: Mauritian Eagle Insurance Co. Limited (MEI.mu) 2017 annual report.Company ProfileMauritian Eagle Insurance Co. Limited is a leading insurance company headquartered in Mauritius that provides insurance products and services for private individuals, SMEs, and corporates in Mauritius, where services such as property insurance against damage to building and other structures, machinery equipment, motor insurance; liability insurance, including employers, family, product, professional indemnity, public, directors and officers liability, accident and health insurance are offered. Mauritian Eagle Insurance Co. Limited is listed on the Stock Exchange of Mauritius.last_img read more

PZ Cussons Ghana Limited (PZC.gh) Q12018 Interim Report

first_imgPZ Cussons Ghana Limited (PZC.gh) listed on the Ghana Stock Exchange under the Retail sector has released it’s 2018 interim results for the first quarter.For more information about PZ Cussons Ghana Limited (PZC.gh) reports, abridged reports, interim earnings results and earnings presentations, visit the PZ Cussons Ghana Limited (PZC.gh) company page on AfricanFinancials.Document: PZ Cussons Ghana Limited (PZC.gh) 2018 interim results for the first quarter.Company ProfilePZ Cussons Ghana Limited is a consumer goods company in Ghana which manufactures, distributes and sells electrical appliances and healthcare products such as soaps, cosmetics and pharmaceutical products. The company operates in 4 categories: personal care, home care, food and nutrition and electrical appliances. Personal care brands include Camel, Carex, Cussons Baby, Imperial Leather, Premier and Premier Cool and Robb. Brands in the electrical appliance range include Thermocool; the nutritional range includes Nunu and the home care range includes Morning Fresh. PZ Cussons Ghana Limited is a subsidiary of PZ Cussons (Holdings) Limited. PZ Cussons Ghana Limited is listed on the Ghana Stock Exchangelast_img read more

Japan up to 11th, South Africa fall three places in latest World Rugby rankings

first_img The fallout from the weekend’s first round of games has been felt in the latest rugby world rankings table, with the Springboks falling three places to sixth after their shock loss to Japan.South Africa now sit in sixth place, behind England, Wales and Ireland, as their coefficient dropped by five points. Japan, meanwhile, leapfrog Scotland to move into 11th place.>>> Rugby World Cup fixturesThe Scots fall from 10th to 12th – mostly due to those teams around them playing and winning – as Japan and Samoa move above them. Scotland face Japan in their first game of the tournament on Wednesday. Defeat against Japan sees South Africa drop from third to sixth in the latest rugby world rankings LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS TAGS: Japan Georgia, the weekend’s other big winners, move up three places from 16th to 13th after their win over Tonga, who themselves drop three places to 14th.>>> Five talking points from the Rugby World Cup’s first round of matches New Zealand and Australia remain first and second, while England move into third position thanks to South Africa’s demise. Wales and Ireland sit fourth and fifth respectively.For the latest Rugby World subscription offers, click here. South Africa players looking stunned after losing to Japan last_img read more

Heyneke Meyer quits as Springbok coach

first_img Proud man: Heyneke Meyer says he will leave his job with his integrity intact LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS What will have ushered Meyer towards the door was a poor Rugby Championship, where they lost in Durban to Argentina but also criticism that he showed too much loyalty to the World Cup winners Victor Matfield, Fourie du Preez and Jean De Villiers. Meyer was also battling vocal critics back home over his commitment to racial transformation – the number of black players picked in the Springboks squad – proving the Springbok role has unique challenges to any other in world rugby.Too loyal: Meyer was criticised in some quarters for blind faith to ageing playersWhoever the next coach is, they will inherit the spine of a very fine side, with Lood de Jager, Eben Etzebeth, Jesse Kriel, Damien de Allende, Handre Pollard and Jan Serfontein all expected to be at the heart of South Africa’s building for Japan. Heyneke Meyer, the former Leicester Tigers and Blue Bulls coach, has stepped down as head coach of South Africa after four years The search for a new coach will now begin, in earnest, with Alastair Coetzee, Johann Ackerman and John Mitchell the early front runners. TAGS: Highlight The coaching merry-go-round in the wake of the Rugby World Cup continues unabated with South Africa coach, Heyneke Meyer announcing he is stepping down after four years in the role at the end of the month.The former Leicester Tigers and Blue Bulls coach, who led the Springboks to a creditable third-placed finish, will however be remembered as the coach in charge when the Boks lost to Japan, 34-32, in the biggest shock in World Cup history.Famously passionate during games, Meyer, 48, said in a press statement. “I have always put the Springboks first in my time as coach and since returning from England I have realised that as much as I believe I still have a lot to offer, the time has come for change.”Passionate man: Meyer wasn’t afraid of showing his emotionsHe continued: “My integrity has always been very important and I feel I can leave with my head held high. I’ve always maintained that my only motivation was to serve my country and to do what was best for the Springboks.”last_img read more

Praying for the Anglican primates

first_img Youth Minister Lorton, VA Associate Rector for Family Ministries Anchorage, AK Featured Events Rector Tampa, FL The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Anglican Communion, [Anglican Communion News Service] The Community of St. Anselm, the new religious community of 36 young men and women from around the world, are in Canterbury this week to pray for the primates of the Anglican Communion as they continue their deliberations.The Community is composed of 16 residential and 20 non-residential young people. Seventeen of them have made the journey from their base at Lambeth Palace – the London home of the Archbishop of Canterbury – to Canterbury Cathedral where the primates are meeting.Their praying presence is just one example of the global prayer that is being focused on the meeting. In addition to the primates’ own prayers, members of their support staff, Anglican Communion officials, supporters and members of the cathedral congregation are gathering at 7.30 a.m. and 5.30 p.m. each day for Morning Prayer and Evensong during which prayers are said for the primates.Prayers are also being said in cathedrals, abbeys, monasteries, parish churches and by individuals across the world of all denominations.Bishop Angaelos, General Bishop of the Coptic Orthodox Church in the U.K., tweeted his followers to tell them he was praying for “grace and wisdom for friends meeting and deliberating this week” at the Primates Meeting. He also retweeted a link to the prayer resources on the Primates2016 website under the hashtag #OneFamily.“It’s a tremendous privilege to add our prayers to those of Jesus that all whom the Father has given him shall be one,” the Rev. Anders Litzell, prior of the Community of St. Anselm, said. “As a community we had nothing in common at the start of this year except the unrelenting desire to be shaped into the likeness of Christ, by the Holy Spirit, to the glory of the Father.“So we have experienced on a small but personal scale the pain of division and disagreement. But we have also found real unity through the monastic virtues of humility under authority, mutual obedience, shared life and service to Christ in the face of the poor.”He added: “It is a true joy to be praying for the face and voice of Jesus to be increasingly revealed in each Primate and Province. We’ll be praying for the whole Body of Christ to reflect the simultaneous humility and glory of the Crucified and Risen Christ. We are delighted to show our love for the Church in this way.”Before the meeting began, Archbishop of Canterbury Justin Welby asked people to pray for love and wisdom, “that the love of Christ for each of us, each of us who are sinners, each of us who fail, will so overwhelm us that we are able to love each other as we should; and wisdom that we would know the call and purpose of God, and in love and wisdom serve His world in the way He calls us to.”The secretary general of the Anglican Communion, Archbishop Josiah Idowu-Fearon, called on people to pray daily for the Primates Meeting.A responsorial prayer and a series of collects has been published on the Primates2016 website. AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Submit an Event Listing Canon for Family Ministry Jackson, MS Rector Belleville, IL Featured Jobs & Calls Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Assistant/Associate Priest Scottsdale, AZ New Berrigan Book With Episcopal Roots Cascade Books Rector and Chaplain Eugene, OR Rector Martinsville, VA Tags Press Release Service Submit a Press Release Primates Meeting, Rector Hopkinsville, KY Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Family Ministry Coordinator Baton Rouge, LA An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Rector (FT or PT) Indian River, MI Director of Administration & Finance Atlanta, GA Course Director Jerusalem, Israel Priest-in-Charge Lebanon, OH Rector Shreveport, LA Rector Collierville, TN Curate (Associate & Priest-in-Charge) Traverse City, MI Curate Diocese of Nebraska The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Bishop Diocesan Springfield, IL Rector Smithfield, NC Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Primates Meeting 2016 Rector Pittsburgh, PA Rector Albany, NY Priest Associate or Director of Adult Ministries Greenville, SC TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Cathedral Dean Boise, ID Missioner for Disaster Resilience Sacramento, CA Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Rector Bath, NC Associate Rector Columbus, GA Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Submit a Job Listing This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Rector Washington, DC Praying for the Anglican primates In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Director of Music Morristown, NJ Rector Knoxville, TN Rector/Priest in Charge (PT) Lisbon, ME Assistant/Associate Rector Morristown, NJ By ACNS staffPosted Jan 13, 2016 Assistant/Associate Rector Washington, DC Associate Priest for Pastoral Care New York, NYlast_img read more

Who benefits from million-pound charitable donations?

first_imgShe added: “This research is important because there’s very little reliable information about giving by the richest members of our society… Now we know that ‘million pound donors’ differ [from average donors] not just in the scale of their gifts, but in what they choose to support and how they go about making their gifts.” Of these, 64% were under £3 million but 12% were for £10 million or more. The five largest donations, worth £100 million or more, were all placed into trusts and foundations for distribution at a later date, rather than given directly to charities. Who benefits from million-pound charitable donations? The Coutts Million-Pound Donors Report was written by Beth Breeze of the CPHSJ. Described as “the first [report] to focus on million pound charitable donations”, it includes case studies of million pound donors and of charities that have received donations of this size. Howard Lake | 9 November 2008 | News Analysis of the largest charitable donations made in the UK shows that health charities, international aid/development organisations and higher education institutions were the main beneficiaries in 2006/07.The Coutts Million-Pound Donors Report, published to mark the launch of the new Centre for Philanthropy, Humanitarianism and Social Justice (CPHSJ) at the University of Kent, reveals that 193 gifts of £1 million or more were made in 2006/07, totaling £1.6 billion. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis 27 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThiscenter_img A copy of the Coutts Million-Pound Donors Report may be downloaded from Tagged with: Major gift Research / statistics Advertisement www.kent.ac.uk/sspssr/cphsj Beth Breeze said: “Million pound donors talk about the ‘exhilarating’ feeling of being able to transform lives, and recipients say gifts of this size bring a psychological boost that lifts the spirit of staff and volunteers.” About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

The really big one: Natural disasters or capitalism?

first_imgIn its July 20 issue, the New Yorker magazine published an article headlined “The Really Big One.”It dealt with one of the underground fault lines in the U.S. that will ultimately cause a really big earthquake. It was not about the San Andreas Fault, which is one most people know about, especially after the summer blockbuster movie “San Andreas.”Seattle is 54 miles northwest of Mount Rainier and the fault line called the Cascadia subduction zone.The article dealt with another fault line just north of the San Andreas, called the Cascadia Subduction Zone. This fault line runs north-south for 700 miles off the Pacific Northwest coast. It starts in northern California and continues alongside the states of Oregon and Washington and ends around Vancouver Island, Canada.It is called a “subduction zone” because it is a region of Earth where “one tectonic plate is sliding underneath … another. Tectonic plates are those slabs of mantle and crust that … rearrange the earth’s continents and oceans.”The New Yorker article is quite alarming. It makes a good argument that a major earthquake of epic proportions will surely hit the Pacific Northwest coast within the next 50 years. Actually, it could happen tomorrow. The earthquake will also trigger a massive tsunami, a tidal wave.The geological record shows that over the past 10,000 years, the average interval between Cascadia earthquakes has been 243 years. The last one was in 1700. Do the math.When — not if — the Cascadia earthquake hits, will it be “the big one,” for which the odds are one in three? Or will it be “the very big one,” which has a one in 10 chance of happening?Personally, if I lived in the area — if, for example, I were one of the 1.25 million people who live in Seattle, Wash., or Portland, Ore. — I would probably have had a very strong urge to pack my bags and move elsewhere as soon as I finished the New Yorker article.But more likely, I would start organizing to fight for danger preparedness.The article is important because it provides the science as to what happens when the Cascadia zone gives way. The “magnitude of the resulting quake will be somewhere between 8.0 and 8.6,” which is “the big one.”If the entire zone gives way at once, an event that seismologists call a full-margin rupture, the magnitude will be somewhere between 8.7 and 9.2. That’s “the very big one.”The article serves to alert the public that when the rupture happens, “that region will suffer the worst natural disaster in the history of North America.”It will be worse than the 1906 San Francisco earthquake. It will be worse than Hurricane Katrina.According to Federal Emergency Management Agency projections, which by any objective measure are vast underestimations, the earthquake and the tsunami will kill about 13,000 people. Another 30,000 will be injured; a million people will be displaced; and over 2 million will need food and water. Electricity will be out for a long time, maybe for years. Buildings and homes will have collapsed in record numbers and problems of potable water will go on for a very long time afterward.The article makes the point of comparing the earthquake preparedness in Japan and in this West Coast region. Japan is one of the most earthquake-prepared countries in the world — yet 18,000 people died in the 2011 Tohoku earthquake. It devastated northeast Japan and led to the meltdown of a major nuclear power plant in Fukushima.A few years before this disaster, a Japanese geologist had tried to warn the country to prepare for a 9.0 magnitude earthquake. His alert went unheeded.The massive December 2004 earthquake off Sumatra, Indonesia, and resultant Indian Ocean tsunami killed nearly 250,000 people. Tsunami warnings did sound in many places, but with densely populated coastal regions and vacationers along thousands of miles of beaches, there was no time to reach safety.Katrina struck in 2005Almost 10 years ago, at the end of August 2005, Hurricane Katrina hit Louisiana.Remember how people outside the area felt as we watched the horror unfolding on CNN? Remember the racist treatment of Black Louisianans, an earlier example of how Black lives do not matter under this system? Remember FEMA’s response to the crisis, the toxic housing, the displacement of decades-long residents of Louisiana to other states? Remember the role of the police in terrorizing rather than protecting the people?Hurricane Katrina was an example of how the capitalist system is incapable of and unwilling to deal with a major disaster. There is no concern for the lives of working people. Only profits are an issue.Scientists have been certain the Cascadia fault was destined to produce a disaster since the late 1980s. What has been done to safeguard the region’s population? Well, the New Yorker’s Kathryn Schulz reports that in Oregon, “It has been illegal since 1995 to build hospitals, schools, firehouses and police stations in the inundation zone.”That’s it. No new construction of these four types of buildings in one state. Otherwise, it’s a free-for-all.Under capitalism, the priority is private profit. There is a complete disregard for humanity.So businesses can create new housing developments, shopping malls, recreation areas and so on if they think there’s money to be made. And this is just what they’ve continued to do.Builders, the New Yorker reports, are required to merely consult with state geologists, and if they’re told their plan is unsafe, they ignore the advice and proceed to put the masses in harm’s way. Gentrification, after all, means big profits.At the same time, there’s no centralized disaster-preparedness plan or personnel, certainly nothing of the scope required. Tax breaks for big business take priority over funding to save lives. Wars, invasions and occupations get funded; earthquake safety does not.Because of this, when the earthquake and tsunami hit, children will die. The elderly will not be able to get out of the way. The disabled will have no access to escape.Some seismologists and journalists have warned the public. But that is not enough.Is there any other way? Of course there is. If we lived in a socialist society, planning and preparations would take top priority: carefully laid out evacuation routes; block-by-block communication plans; and backup power, water, medical and housing provisions in place for emergency.What if that’s not enough? What if there are entire communities that should be relocated right now, away from the coast, inland and onto higher ground? What if some beaches should be closed to summer tourism? What if highways and bridges ought to be rerouted?Under socialism, none of this would be impossible or outlandish. Under capitalism, none of it will happen.Still, something can be done. Class-conscious revolutionaries — communists — can point out that “the very big one,” the biggest disaster of all, is capitalism. Only organizing the necessary mass movement to fight for money for disaster preparedness — not for war or Wall Street — will resolve this looming crisis.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more