A motorcyclist’s leg was injured in an accident yesterday.
It happened at about 4.45pm at the junction of Prospect Hill and Athol Street in Douglaa and involved a silver car and a red motorcycle.
The right turn lane heading down Prospect Hill was closed for a couple of hours while police investigators examined the scene.
Police are asking for any witnesses who saw the collisio, or assisted at the scene to contact the roads policing unit on 631212.
Tynwald Day petitioner Carol Quine will be given the opportunity to give oral evidence to a Tynwald select committee hearing this week.
The committee was established on October 18 to consider and report on the petition for redress presented by Mrs Quine, Lynn Sirdefield and Richard Halsall in St John’s in relation to free train and tram travel for residents over retirement age.
The members elected to the committee by Tynwald are chairman Bill Shimmins MHK, Rob Callister MHK and Julie Edge MHK.
The evidence will be taken in public on Thursday at 2.30pm in the Legislative Council Chamber, Legislative Buildings, Buck’s Road Douglas. The public can attend or listen through the Tynwald website.
A pilot scheme costing £80,000 has been carried out on two properties at Cronk Elfin, Ramsey.
It took place to test the approach that will be taken if a proposed refurbishment of all 52 homes on the local authority-owned estate goes ahead.
The improvements included external re-rendering, new roof covering, porch coverings and new bathrooms with associated pipe work.
The cost of the test scheme was met from the housing reserve fund, but the board would be required to obtain Department of Infrastructure support for the full scheme, which would be funded from the local authorities’ capital programme.
Ramsey commissioners’ housing and property manager Mark Close said the pilot scheme had been successful and completed within budget.
The tenants remained within the properties while work was being carried out and both had expressed their satisfaction with the work.
This prompted member Wilf Young to comment: ‘I’d be delighted too!’
He calculated that the scheme as a whole would cost £2m – and he would be voting against it.
‘Knock it on the head now!’ he urged.
l A reception will be held in the new year to help nurture good relations with business owners in the town.
Proposing the idea, deputy town clerk Steven Bevan said it would allow for board members and proprietors to discuss items of mutual interest in an informal environment.
The defendant in the Mount Murray hotel fire trial will not take to the witness stand to give evidence, jurors have been told.
Deemster Main-Thompson told jurors roofer Roy Michael Cross, aged 64, would not be giving evidence in his defence, nor would he be calling any witnesses
Mr Cross denies breaching health and safety regulations after using a blow torch to try and dry out roof timbers as he was working at the hotel in 2013.
The prosecution and defence will sum up for the jury tomorrow (Tuesday).
The RL360° Group has announced it has bought international platform business Ardan International.
The deal brings together two successful Isle of Man companies.
Ardan International employs 12 staff and is based in Upper Church Street, Douglas.
Following the acquisition, RL360° says it will invest in the company, the technology and the people to help Ardan International grow.
It is, however, intended that the platform will continue to operate under the Ardan brand and will operate independently.
With this deal, RL360° is continuing to make good on its ambitious growth plans.
In November last year the international life company acquired another Manx company, Clerical Medical Insurance Company Limited.
David Kneeshaw, chief executive of RL360°, said: ‘We have made no secret of the fact that pursuing acquisitions forms part of RL360°’s strategy to build scale and support our growth plans.
‘We believe Ardan International presents a significant and attractive opportunity to accelerate this objective.
‘We have historically been strong supporters of the Investment Platform – or Wrap – model and we believe having a truly independent and internationally focused platform within the RL360° Group makes strategic sense.
‘I believe Platforms will play an increasingly important role in international distribution as the industry faces the challenges and opportunities of regulatory change and commission disclosure.’
In simple terms, a platform (or wrap) allows a financial adviser to see an holistic view of their client’s finances.
Using a supermarket analogy, the platform would be your shopping basket. In the basket you might have some bank/cash accounts, you might have a savings ISA, an offshore bond, your pension, and perhaps some company shares.
The platform helps you carry all of these products/wrappers around with you in one place – so you can view everything at once, without the need to deal with multiple companies.
Richard Preston, chief executive officer of Ardan International, said: ‘With RL360° we will have the backing of a strong and internationally focussed parent company and our adviser community will benefit from continued investment in our award-winning platform service – we plan to stay ahead of the game.
‘We will also benefit from RL360°’s market insight and distribution channels.
‘This is a very exciting time for us.’
Ardan was the first independent wealth platform designed exclusively for international advisers and their investors.
Authorised and regulated in the Isle of Man, it deals with more than 70,000 funds and securities through multiple third party life and pension wrappers. The acquisition is subject to approval from the Isle of Man Financial Services Authority.
Gough Law is celebrating being ranked in the highly prestigious Chambers and Partners UK Guide within the category, Offshore: Dispute Resolution.
Gough Law is ranked in the highest category, Band 1, which is usually dominated by larger law firms.
This in itself is a credit to the team at Gough Law, a small so-called boutique litigation practice.
Founding director Alan Gough has been ranked individually in the highest category Band 1.
Alan has appeared in many leading Isle of Man cases over the past 40 years.
Charles Coleman, shareholder and director of the firm was recognised in Band 2 and is known for his tactical thinking and cross examination of difficult cases, especially in fraud and quasi-fraud cases.
Chambers and Partners UK have been ranking the best lawyers since 1990, and now cover 185 jurisdictions. No other organisation has the strength-in-depth of their editorial and research team when it comes to assessing the world’s business lawyers.
Chambers rank both lawyers and law firms based on the research of 170 full-time editors and researchers employed at their head office in London. They talk to lawyers and clients all year round, conducting in-depth telephone interviews.
Alan Gough said: ‘This is a great accolade for our small but talented team. I would like to thank all of my colleagues for their hard work and dedication to their clients.’
The Steam Packet has announced that his evening’s sailing from Douglas to Heysham and the return in the early hours of tomorrow have been cancelled.
The windy weather is to blame.
The island’s beekeepers have gathered for the Isle of Man Beekeepers Federation 67th Annual Convention and Honey Show at the Methodist Hall in St John’s.
Cups were up for grabs in a wide range of categories with Pat Shimmin scooping the most prizes by claiming six trophies.
Pat was the winner of the best dark honey, best crystallised honey, best 12 jars of honey, best lady beekeeper, best extracted honey and most points in honey and beeswax classes.
Norrie Mills was the winner of three categories with his best light honey, best three jars of honey and best three bee products.
Stephen Bradley won the prizes for the best new exhibitor and best exhibit by a beginner.
The cut comb honey Eand frame honey sections were won by Ian Buxton.
Esther Mills won the cup for most points in the confectionery classes while Audrey Owens was awarded the Herbie Quirk Memorial Trophy for the federation member making the most significant contribution to Manx beekeeping.
There are more than 80 registered beekeepers on the island.
Read more about beekeeping on the island by visiting the website www.iombeekeepers.com/
An essential guide for anyone recently diagnosed with cancer has been produced.
The information pack has been designed and written by the IOM Cancer Services User Forum, in conjunction with the Macmillan Cancer Information & Support Service and Isle of Man Anti-Cancer Association.
It is designed to help the patient keep all the information needed about their type of cancer, the treatment they will receive and the support services available on the Isle of Man - all in one place.
The cost of printing the binder has been sponsored by the Isle of Man Anti-Cancer Association.
This information pack includes:
* A place to store all the key information that is given to the patient once they have received a cancer diagnosis
* A place for the health professionals to record down essential information for the patient to refer back to
* A space for the patient to write down their thoughts and questions that they may have for their Health Care professionals
* An index of useful contacts in the island that might assist them with support
For more information about the User Forum, contact 498612, email csuf@manx.net or visit their Facebook page.
IoM Anti-Cancer Association can be contacted on 252725 or by email at iomanticancer@gmail.com
Work has now started to extend the Joey Dunlop Foundation’s disabled holiday accommodation.
The house at Braddan Bridge is now encased partly in scaffolding as the new addition starts to take shape and Superbike star (and island resident) Jonathan Rea dug the first spadeful as work started on the foundations last month.
First item on the fundraising agenda is a whisky night on December 2 at the Mike Hailwood centre at the TT Grandstand in Douglas. This will be hosted by whisky commentator, blogger and, since his recent visit to Utah this summer, Bonneville land speed record holder, Ralf Mitchell.
Limited places are available for the event. To find out more details contact Joey Dunlop Foundation chairman Kevin Quirk on 677741.
The Foundation’s annual charity dinner takes place at the Empress Hotel on January 14, with the usual glittering array of special guests, including TT winner and TT Riders’ Association president Alex George and fastest woman round the TT course Jenny Tinmouth. Sidecar racers Klaus Klaffenbock and Dave Molyneux will be there and master of ceremonies is commentator Roy Moore.
An MHK says a major road scheme should be tendered to a UK contractor to get the project done quicker.
The £800,000 project to reconstruct Lezayre Road and install new drainage had been scheduled to begin on September 26 and take 18 months to complete.
But it was postponed at the last minute until next year, after it emerged that there was insufficient space to operate the site safely.
In Tynwald, new MHK for Ramsey Dr Alex Allinson asked Infrastructure Minister Ray Harmer to consider tendering the Lezayre Road project and getting expressions of interest from firms across.
He asked: ‘This is an £800,000 project for 1,100 metres of road, which is expected to last 18 months. Could he consider tendering this to firms with the equipment and experience of laying large tracks of road quickly and effectively, to minimise disruption and economic losses to the island’s economy, and particularly in Ramsey?’
Mr Harmer replied government policy is to use on-island contractors to support the local economy. He said work permit restrictions might deter UK contractors from tendering - and some in local contractors may well object to a UK company being drafted in.
He added: ‘Regarding Lezayre Road, I am willing to look and come back to see if there is any way we can compact and construct that in the shortest timeframe possible, but unless there is substantial evidence that a UK contractor could actually do that in a shorter space of time – and in light of all the local economic issues – then I would favour continuing with our policy of using local contractors.’
The original scheme was scheduled to be carried out in three phases over a total of about 18 months, with breaks for TT, MGP and Christmas/New Year.
A Department of Infrastructure spokesman said the scheme would probably not begin now until next September after the MGP.
He said: ‘Meetings will be taking place involving DoI, the local MHKs, Ramsey Town Commissioners, the schools, the police, the Chamber of Commerce and the business community to discuss the way forward.
‘It is now generally accepted that the road will have to close for a period in 2017-18 to enable the work to take place.’
He pointed out that UK companies would still be faced with the same constraints as DoI or local contractors – working hours, maintaining access, working with utilities and telecoms providers, and working around TT, MGP and Christmas
Dr Allinson had asked in Tynwald for a comparison of roadworks costs here and in the UK. Mr Harmer said the cost of £150 per square metre compares favourably to a UK construction cost of £100-130 per square metre. He said the cost of bitumen is about 40 per cent higher than the UK due to the import cost.
Douglas’s historic horse trams have seen welcome growth in passenger numbers and revenue since the government took over the line - while expected losses, too, have apparently nearly halved.
Infrastructure Minister Ray Harmer said the total number of passengers carried in 2016 increased to 69,542 from 48,722 the previous year.
The revenue also increased from £57,915, to £83,557 this year.
Speaking in Tynwald, Mr Harmer explained that the budget for the horse tramway had anticipated a loss of about £100,000 and a number of bodies had made offers to contribute towards that total. However, as a result of the 44 per cent increase in revenue, the net deficit is expected to now not exceed £60,000.
The Department of Infrastructure, with support from Culture Vannin and Manx National Heritage, stepped in to ensure the trams kept running this year, following a decision by Douglas Borough Council to end the service.
Measures were put in place to reduce the operating costs and maximise passenger usage, explained Mr Harmer.
The season was extended from mid-September until the end of October, but in practice operated for only 13 more days than in 2015. The horse trams operated daily during the peak summer period and on a limited basis at other times.
Mr Harmer said: ‘I would like to take this opportunity to place on record my thanks for the support of the horse tram staff and those in the heritage railway operation, who pulled together to achieve this impressive turnaround.’
Douglas North MHK and former Douglas councillor David Ashford said it was a good new story but suggested one reason that deficit had gone down was because the government apportioned costs in a different way.
FIM Capital’s investment director Russell Collister tells the remarkable story of bond investors guaranteed to lose money.
The respected German household goods company Henkel recently raised half a billion Euros on the bond market.
In most circumstances, this would have been an unremarkable, even routine, transaction.
What caught the eye was the fact that the bonds carried a negative redemption yield. In other words, investors were guaranteed to lose money between the date of issue and the date of redemption, two years down the line.
Remarkably, not only was this bond issue apparently oversubscribed (there were more buyers than available stock), the short-list of successful (?) applicants reads like a European Who’s Who of institutional investors.
It is unlikely that these bonds will ever find their way into private client portfolios.
Without exception, investment managers are tasked to increase the value of portfolios, either through capital appreciation, income generation, or both, whilst simultaneously controlling the level of risk.
Ensuring the polar opposite is unlikely to result in a long and distinguished career in managing other people’s money.
And yet, in the bizarre world of finance, buying such a loss-making investment is clearly considered by some to be the right thing to do.
The German logic is that the yield, whilst bad, is less bad than holding cash, which is very bad indeed. Abandon all hope, ye who enter here, as Jean-Claude Juncker might have written, had Dante not got there 700 years earlier.
The question for new Henkel bondholders is: why didn’t you buy the equity? Shares in Henkel are yielding 1.2 per cent. This is a great company now awash with cash (thanks to the bond issue), so the dividend is unlikely to be cut any time soon; indeed, it will most likely rise over time, especially if inflation, which is creeping higher in the US, reaches Europe.
There are, of course, any number of reasons why institutions can’t do the logical thing and buy Henkel shares instead of the bonds.
Fund managers are strictly bound by asset allocation models, often set by pension trustees.
These models will include bonds, and lots of them. Given the turmoil which would occur in bond markets should interest rates rise unexpectedly, buying short-dated paper like the Henkel issue could be the least worst option, even if capital losses are guaranteed.
The obvious remedy would be to change the mandate. However, for many life and pension companies, bonds form a cornerstone of their regulatory capital and are formally ranked as lower risk investments than equities.
In essence, the regulator is encouraging companies to lock in poorer returns to mitigate risk.
We think that this is a big mistake at this stage of the cycle, no matter how well intentioned.
You probably (hopefully) don’t hold the new Henkel bonds.
However, your pension fund might. Annuity rates, or the level at which life companies distribute income to pensioners are at historic lows, in part because bond yields are also low.
Annuities have long been a gamble on life expectancy and the odds are stacked against the annuity holder.
With the average UK life expectancy now at 82 years, current annuity rates for a 65 year old guarantee a capital loss to the investor after the 17 years it takes to reach that point.
Live another five years and you break even. This is Henkel bond territory.
The previous Chancellor of the Exchequer, George Osborne, recognised this problem and changed the rules to allow retirees far more flexibility in how to deal with their pensions than ever before.
He also improved independent savings accounts or ISAs (which we can now offer to Pound a Day Portfolio investors) all of which were intended to encourage saving for the longer term in a tax-efficient package.
Breaking through the glass ceiling of the often ridiculously complex pension industry can be hard to do.
A modern pension, however, should be flexible, tax-efficient and cost-effective. It should also be transparent and easy to understand.
Your pension should be all of these things.
If it is not, you may wish to speak to your pension adviser and then to us, to ensure that you are holding Henkel’s shares, or their equivalent and, for pity’s sake, not those bonds.
FIM Capital Limited is licensed by the Financial Services Authority of the Isle of Man and Regulated and Authorised by the UK Financial Conduct Authority.
Business-savvy students from UCM (University College Isle of Man) beat off competition from six other local teams to win the island heat of ICAEW’s national business and accounting competition called BASE.
What would you do if you were a business advisor for the day?
Forty two local students found out what it was like to walk in the shoes of finance professionals, as they focused on key employability skills to formulate strategic business advice for a real life organisation and delivered this to their board of directors, just like real chartered accountants.
UCM impressed the panel of judges and will go on to represent the island at the national final which takes place next June
The team from St Ninians High School were the runners up and all teams can be rightly proud of their achievements in dealing with a very demanding business challenge
This was one of 43 heats attracting over 3,000 students from across the British Isles.
Amy Slee, IOMSCA deputy chairman, said: ‘I was really impressed with UCM’s performance and strategic thinking. These budding business advisers looked beyond the numbers and they also showed they had an excellent instinct for business and ethics in order to give well-rounded advice. Congratulations to all the teams who took part.
‘I expect I’ll be seeing more of these young people in leading business roles in the future.’
She added: ‘Students should not lose sight of the importance of developing skills and experience, alongside their academic achievements.
‘It is vital that students are given opportunities such as BASE to develop these softer skills outside of the classroom. ‘
Head judge Charles Carter, ICAEW director, regions, said: ‘We looked for the teams who supported their recommendations with ethical and financial evidence. UCM showed excellent teamwork and time management in delivering a comprehensive proposal.
‘The team from St Ninians were the runners up and all teams can be rightly proud of their achievements in dealing with a very demanding business challenge.’
He added, ‘BASE is a great example of how schools, employers and young people can work together to improve skills, and can also give business leaders the opportunity to learn what motivates the next generation of talent.’
Local firms including KPMG, PwC, Grant Thornton, Crowe Morgan, Greystone and Deloitte provided professional mentors and judges.
There will be free disc parking on part of the Douglas Promenade walkway in the run up to Christmas.
The area between the War Memorial and the Bottleneck will become a designated disc parking zone from Saturday, December 10, until Sunday, January 8.
Motorists will be able to park free of charge on the walkway for up to two hours by displaying a parking disc. No parking over two hours will be permitted.
Infrastructure Minister Ray Harmer MHK said: ‘The Department of Infrastructure is keen to play its part in encouraging people to shop local and support the Manx economy. Consequently, we are prepared to provide additional free disc parking for a limited period at what is the busiest time of year for many retailers.’
The vast majority of census forms were correctly filled in, despite some householders apparently failing to include their children in the returns.
Since the forms were completed last April, in the five yearly survey, letters have gone out to homes in a number of areas around the island where the number of children included in the census returns falls short of those on school rolls.
But when the story appeared on Isle of Man Newspapers’ website, iomtoday.co.im some commentators suggested the census forms themselves could be misleading. People posting on the site pointed out the form repeatedly states: ‘The remaining questions apply to persons aged 16 and over only (born on or before April 24, 2000).’
The statement is repeated six times in the form, once in each section after initial details about each member of a household have been entered. But some householders may have thought it applied throughout the document.
A statement from a government spokesman confirmed the forms were different from those used last time, adding this was because it was necessary to scan them so an online return could be made, if people chose that option.
However, it went on to say: ‘The census forms were tested prior to printing to ensure accurate completion.
‘More than 90 per cent of the forms from those with children were completed successfully first time, so if it was misleading, only a small proportion of people misread it.
‘As a matter of course we review the census project every time it’s complete and make improvements where possible.’
Earlier this month, householders in various parts of the island, including East Douglas and Peel, received letters telling them census figures had revealed a lower number of under-16-year-olds than anticipated and the data received did not tally with other figures such as those on school registers.
‘If you have inadvertently omitted any under 16s, then please contact the census office to provide us with their details so we can add them to your census form,’ the letter said.
It requested details of names ages, sex and date and place of birth and concluded: ‘If there are no individuals under 16 in your household, it would be helpful if you could contact us so that we can update our records and mark your census form as complete.’
Censuses happen every five years in the Isle of Man and every 10 years in the UK, the first being in 1801.
The census is used to find information about national demographics and the results help governments to decide how resources and services are allocated.
A couple in Sulby are counting the cost after vandals targeted three cars parked in their driveway in a quiet cul-de-sac in the village.
John and Hilary Musson, who are both former TT riders, were horrified to find all three vehicles, a VW Golf, a BMW and a VW van, had been scratched with a sharp instrument - two across the bonnet, one on the tailgate.
Hilary, who is disabled after losing a leg while marshalling at the 26th milestone in the accident which claimed three lives in the 2007 Senior TT, said she was frightened at the thought of someone pinpointing their house and targeting their cars specifically.
‘It’s a dreadful situation. I’m frightened of what’s going to happen next and I can’t run away - or after anyone,’ she said.
‘My car was paid for out of compensation money after my accident and it’s my pride and joy. At a conservative estimate I think the damage will cost £1,500 to rectify.
‘I no longer feel safe in my own home because of scum like this.’
They think the damage happened overnight on November 11.
Sergeant Darren Richards said they were increasing patrols and asked anyone with information to contact Ramsey police on 812234 or Crimestoppers, anonymously on 0800 555111.
He said if anyone saw anything suspicious they should not hesitate to call 999.
‘We will do everything in our power to bring the offender before the court,’ he said.
The Isle of Man Examiner is being delivered to the shops now.
Among the top stories are:
Fire trial accused won’t speak in court
Quayle: I won’t scrap work permits
Plan to build on Mooragh Park island
Awards for Excellence special: 24 pages on our glittering event and success stories from the island.
A motorist who drove off after crashing into a parked car is being hunted by the police.
The damanged car was a grey BMW X5, which was parked in the car park next to Noble’s Hospital (Ward 19) private wing between 12.45pm and 7pm on Monday.
Substantial damage was caused to the front passenger side wing and bumper.
Ange Callaghan is the new permanent headteacher of Scoill Phurt le Moirrey, having been acting head since April 2016.
She replaces Sue Mowle, who is now ‘director of inclusion and safeguarding’ for the Department of Education and Children.
Mrs Callaghan gained a degree in business studies and German from Sheffield’s Hallam University and studied for a PGCE in her adopted home of the Isle of Man through Liverpool Hope University.
As a newly qualified teacher, she joined Victoria Road Primary School in 2001, moving to Scoill Phurt le Moirrey six years later.
She undertook professional development and became deputy headteacher there five years ago.
She said: ‘Scoill Phurt le Moirrey is a wonderful place to learn and work.
‘Our 152 children are at the heart of our friendly village school and I look forward to working with them to ensure we are the best we can be.
‘I am grateful for the support and encouragement I have received from staff, governors and parents over recent months.
‘Port St Mary is a close community and the school has always had good links with those who live and work in the area. I hope we will strengthen these links to benefit the community as a whole.’
Mrs Callaghan and her husband have three grown-up children. In her spare time, she enjoys walking the hills and coastal paths.