LV Skier Lands on Medal Stand to End Season - Patch.com

? Back to Article Embed | Share ?? ? Long Valley's Mike Rossi, far right, took second place in the National competition in Stratton, Vt. Barb Rossi

As the summer months head our way, and the U.S. Ski Team ends its winter season, Long Valley’s Mike Rossi can spend the next few months atop the rankings and readying himself for another successful year.

Rossi, a freestyle aerialist for the team, spent the end of March competing in the Junior Worlds competition in Italy, then taking part in the Nationals competition in Stratton, Vermont.

“Italy was… awesome. One of the coolest places in the world,” Rossi said about his 5-day trip to the European country. “It was a learning experience, getting used to competing with jet lag and being in a foreign place.”

Rossi competed in the doubles competition, meaning the jumps were limited to two aerial flips before landing. Rossi successfully landed his double twisting double flip, and attempted a triple twisting double flip. It was the latter, however, that didn’t go his way.

“My hand touched down on the landing for the triple,” Rossi said. “That’s a big no-no. But, it happened, and it’s something to work on going forward.”

Rossi said the Chinese team was very strong at the competition, and ski conditions were not good at all.

“There was like, no snow,” Rossi said about the jump site. “We had a steep in-run, then a long flat run before hitting the ramp. Conditions just weren’t good for jumping.”

Rossi placed 10th?in the competition in Italy, then headed home for one last competition in Vermont.

As he headed to Stratton, obstacles appeared much bigger than the jumps themselves for Rossi. Fighting fatigue and another poor jump site, as well as some of the nation’s best jumpers, the aerialist wasn’t too keen on the competition.

“We had to push snow into a mound from the mountain itself to make a ramp,” Rossi said. “I was tired from the trip. Didn’t really want to jump, but it was the last competition, so I stuck with it.”

Rossi’s first jump was a double twisting double, which he landed perfectly. The score was good enough for him to tune in and focus on his second jump, one that would catapult him to the podium.

The 18-year-old didn't make the same mistake he did in Italy, and executed a full double full–or triple twisting double back flip–to seal the deal, and grabbed 2nd?place overall in the competition.

The third place finisher is also on Rossi’s team, he said, as the juniors made up two-thirds of the medal stand.

“So I’m kind of ranked second now,” Rossi said with a sense of humility. “It was a good way to end the season.”

Rossi will be at home in Long Valley through the end of April, then return to Lake Placid, New York for summer camps where he’ll practice water jumps and other exercises to prepare for next season’s competitions.

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England trio set for LV=CC action - ECB.co.uk

Watch the latest of our new highlights round-ups - after the second week's LV= County Championship action in season 2012

England Test captain Andrew Strauss and Steven Finn will make their first appearances of the season for Middlesex when they host Durham at Lord’s in the latest round of LV= County Championship fixtures.

The duo, who have enjoyed a brief break following England’s tour of Sri Lanka, are included in a 13-man party that will be captained by Chris Rogers, with regular skipper Neil Dexter having temporarily stood down in a bid to recapture his best batting form.

Finn replaces fellow paceman Corey Collymore, who is rested as part of the club’s rotation policy, while Steven Crook has been called up as cover as Gareth Berg battles a chest infection. The latter is set to be assessed on the morning of the match.

Middlesex will be aiming to follow up a thrilling three-run triumph over rivals Surrey, their first win since they returned to Division One.

Durham welcome back Paul Collingwood, who missed the loss against Nottinghamshire due to a virus but has now recovered and is part of a 13-man squad.

Surrey are without South Africa batsman Jacques Rudolph for the visit of Worcestershire, the left-hander having been withdrawn from selection due to family reasons.

England Test skipper Andrew Strauss will open for Middlesex against Durham. Steven Finn and Ian Bell also return to county action this week

Wicketkeeper-batsman Steven Davies, who returned to domestic action last week following his commitments with England, admits Surrey are desperate to follow their narrow defeat to Middlesex with victory over his former county.

“It was probably one of the hardest losses in my career,” Davies told ecb.co.uk.

“We battled so hard for three days, both teams went at it and it was a really good game of cricket. It came down to three runs in the end so it was a pretty tough loss to take.

“We won our first game against Sussex while I was away so won one, lost one is not too bad and we’ve got a big game this week against Worcestershire. We have to look forward now and forget about what happened at Lord’s.”

Worcestershire, who were not in championship action last week, will hope to improve on their defeat at Nottinghamshire in the opening round.

Defending LV= County Champions Lancashire will hope to bounce back from a 10-wicket thumping at the hands of Sussex in their opening fixture when they play host to Warwickshire.

The match will take place at Aigburth, where the Red Rose were dismissed for 124 and 176 last week on a juicy pitch providing assistance to the seamers.

Overseas batsman Ashwell Prince, a half-centurion in Lancashire’s second innings, said: “We expect conditions to be similar, so it’s going to be tough for the team who bats first again.”

A hamstring injury continues to keep all-rounder Tom Smith out of contention for Lancashire. Seamer Oliver Newby and veteran spinner Gary Keedy join the 11 players who featured against Sussex.

Warwickshire, who kicked off their campaign with a home victory over Somerset, are able to call on England batsman Ian Bell for the first time this year.

Early leaders Nottinghamshire will look to maintain their 100 per cent record when they welcome Somerset to Trent Bridge.

Left-arm seamer Harry Gurney could make his debut for Notts, having joined from Leicestershire over the close season.

Lewis Gregory, fit again following a back injury, or Craig Meschede will replace the injured Adam Dibble in the visitors' line-up.

Dibble suffered an intercostal injury against Warwickshire and is expected to be out for a number of weeks.

Click here for exclusive match highlights from every day's play, latest scores, reports, news and interviews during the LV= County Championship campaign

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Jean Bennett, L.V. resident and music industry veteran, remembers Dick Clark - Las Vegas Sun

AP/File

In this 1957 file photo, Dick Clark is seen surrounded by fans during “American Bandstand.” Clark, the television host who helped bring rock ‘n’ roll into the mainstream, died Wednesday, April 18, 2012, of a heart attack. He was?82.

By Andrea Domanick (contact)

Wednesday, April 18, 2012 | 11:25 p.m.

Marv Goldberg

Buck Ram and Jean Bennett

Launch slideshow ?

Dick Clark passed away at 82 years old today, leaving the public with many memories of the TV icon: There’s Clark as the perennially boyish-looking host of “American Bandstand;” as the game show guru behind “Pyramid”; and as the familiar face who helped ring in the New Year, year after year. But few today remember Clark like Jean Bennett.

The Las Vegas resident, who turns 89 on April 25, first met Clark in 1956 shortly after he replaced Bob Horn as host of “American Bandstand.”

“Dick was the sweetest, coolest guy I’d ever come across,” Bennett recalls of her first meeting with the mild-mannered, clean-cut Clark.

Bennett met Clark while working as an artist promoter for songwriter and manager Buck Ram. Bennett and Ram brought the Platters to Clark, and the group went on to introduce their hit “Twilight Time” on “American Bandstand Saturday” in 1958; the song hit #1 on the Pop and R&B charts that spring.

Beyond Clark’s reputed charm, Bennett remembers his dedicated work ethos and high standards that “really straightened out the show,” catapulting “American Bandstand” to the national airwaves and the cultural institution it is today.

“He treated every show like it was a special occasion. He made sure everyone got dressed up and was on their best behavior,” she says. “He never raised his voice, but he sure had those kids jump through some hoops!”

As the Platters and other projects of Ram’s gained traction, Bennett began working regularly with Clark as she pushed new music to radio and TV stations across the country. The two quickly became good friends.

“He liked Buck because Buck knew talent, and if I brought him something, he would listen to it,” she says. “He trusted me and would always put on the records I suggested. He was very dedicated to the music business and really looked forward to every new release.”

Bennett says that Clark and she remained close, often meeting him for lunch when she was in L.A., though the last time she saw him was about a year ago.

“Those were such fun times,” she says of their time spent in the burgeoning rock ’n’ roll era.

Even at 89, the joie de vivre in Bennett’s voice is undeniable, and it’s almost certainly that same spark that kept Clark “the world’s oldest teenager” until his last days.

Follow Andrea Domanick on Twitter at @AndreaDomanick and fan her on Facebook at Facebook.com/AndreaDomanick.

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Louis Vuitton's Train Heads to Shanghai; Models Wear Food for T - New York Magazine

? Next stop on the Louis Vuitton Express: Shanghai. The fashion house's fall-winter 2012 show — and much-talked-about train — will travel to the Chinese city in late July to celebrate the reopening of LV's store at the Plaza 66 luxury mall. [WWD]

??Models wear?various food items for a fashion spread in the latest issue of?T,?styled by Robbie Spencer and shot by?Richard Burbridge. [T Magazine]

? Of the ecocertified dress that he designed for Meryl Streep to wear to the Oscars, Alber Elbaz said: "The seamstress that made the dress worked for three days and three nights on the dress, and after she finished, she was sick for three days. And you know, with the Oscars, you do the dress and you never know if they will wear it. I wanted so much for [Streep] to wear it, just for this woman that didn’t go to sleep for three days, and just put so much love into the dress." Elbaz also revealed that he's never met Streep. [WWD]

? Better Capital bought Jaeger London from British Fashion Council chairman Harold Tillman in a ￡19.5 million ($30.8 million) deal. Tillman's other label, Aquascutum, was said to be up for sale last week. [Telegraph UK]

? Britney Spears wore a $20,000 sports bra to promote the new game Twister Dance. Created by Body Rock, the "Eternal Love Bra" is made from silk, encrusted with silver diamond Swarovski crystals and gold pyramid studs, and has an $18K gold zipper. [Fashionista]

??Manolo Blahnik partnered with eighteen designers on their fall runway footwear, while Christian Louboutin collaborated with thirteen. [WWD]

??Madewell's creative director Kin Ying Lee can carve a chicken: "Like a raw chicken, no problem, blood and raw meat don't bother me. I used to work in a restaurant with my parents. Whenever I am at a friend's or family dinner, like at Thanksgiving, I am always the one to carve the turkey. I can dismantle it perfectly. Everyone is always amazed." [Fashionologie]

? H&M's same-store sales increased by 16 percent last month, the best numbers reported by the fast-fashion chain in more than three years, thanks to good weather and "a positive calendar effect." But those same reasons will have "a very negative effect" this month, according to the brand. [WWD]

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HIGH SCHOOL GOLF: LV's Word finishes strong - San Angelo Standard Times

ABILENE — After a difficult first nine holes in the first round of the Region I-4A golf tournament, Lake View's Madison Word needed to get off to a strong start to her back nine.

When two tee shots went astray, the Maidens player ended up taking a nine on the par-4 No. 1 and easily could have let it kill her round.

Instead, she rebounded to play the next four holes at 4-over, then went birdie-par-par to finish her opening round on a high note despite carding a 101 at Abilene's Diamondback Golf Club.

"I started out pretty rough, but I stayed calm for the most part," Word said. "After I carded that first nine, it was downhill from there, but I was able to finish strong with the birdie and parring the last two."

The junior's 101 came on a tough scoring day. Only three golfers broke 80 on the wind-blistered Diamondback course.

Word said shooting 1-under on the final three is a confidence booster for today's final round.

"It was a good feeling. It is always a good feeling to finish strong," Word said. "I know my stronger points. My driver was definitely the strongest part of my game today. I need to work on chipping for tomorrow, and my short game, definitely. I know the holes, and I know what to do."

Lake View girls golf coach Salye Coles said that Word's resiliency paid off after the difficult start to her round.

"One of the things she does best, other than getting out of the box, is overcoming a bad shot," Coles said. "If she has a bad shot, she gets out of that trouble really well. She utilizes her concept of where she is on the course really well."

Word began her round on the back nine — generally regarded as the more difficult side of the course — and from No. 10 on, the Lake View junior found the prevailing thoughts to be true.

She triple-bogeyed the first hole after skying over the green with her approach shot, then bogeyed No. 11 after she three-putted.

After she mis-hit a pair of approach shots, she tripled No. 12.

"She was nervous starting off. Her first nine were hard for her," Coles said. 'After that she seemed to regroup. On No. 1, she hit into the rough and had a hard time getting out, but after that she played well. She had a couple of errors on the front, but out here little errors turn into big ones."

Word took a 9 on No. 17 but bounced back to chip to within 3 feet on No. 18, which gave her the first par of the day, finishing the opening nine in 53.

"She was getting off the box really well," Coles said. "Her approach shot was a struggle. She wasn't following through her shot, and we fixed that coming in, and I think that will help her tomorrow. She putted well (Wednesday) and last week in practice."

Word said most of her difficulties came after hitting into the large out-of-bounds areas that line each fairway.

"Staying in the fairway is the most important thing here, and it is the hardest thing to do," Word said.

Word said she has a good feel of what she needs to improve on today.

"I want to fix what I messed up on today," Word said. "I know what I did wrong, and I know what I need to work on. I know I am a strong golfer, and I know what I need to do. I haven't carded a 100 in I don't know how long. That was tough, but I finished strong and I didn't break down, so that was good."

Region I-4A Girls Golf Tournament

Diamondback Golf Club, Abilene

Team standings: 1. Byron Nelson 312; 2. Aledo 331; 3. Frenship 339; 4. Canyon Randall 352; 5. Midway 358; 6. Mansfield Summit 366; 7. Denton High 367; 8. Wichita Falls 389; 9. Arlington Heights 393; 10. Granbury 398; 11. Stephenville 419; 12. El Paso High 429; 13. El Paso Burges 469; 14. El Paso Riverside 479; 15. Fort Worth Trimble Tech 491; 16. Ysleta 504.

Top 10 individuals: 1. (tie) Maty Monzingo, Byron Nelson, 74; Rainy Manor, Byron Nelson, 74; 3. Olivia Gibbs, Timber Creek, 79; T-4. Zoey DaneshFar, Byron Nelson, 80; Kendall Slaughter, Frenship, 80; 6. (tie) Mackenzie Cross, Canyon Randall, 81; Emily Odom, Frenship, 81; Elena Cervantez, Arlington Heights, 81; 9. (tie) Taylor Brookshire, Aledo, 82; Allie Akin, Arlington Heights, 82.

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Catt.-LV Board Approves Building Closure - Jamestown Post Journal

CATTARAUGUS - The Cattaraugus-Little Valley Central School District will be closing the doors to its Little Valley campus starting in September.

Several members of the community came forward at Monday night's Board of Education meeting to voice their opinion on closing the building. Despite arguments, pleas and petitions, the board chose to shut down the Little Valley campus in a 5-2 vote.

In doing this, the district's primary school, located on its Cattaraugus campus, will house all students in pre-kindergarten through fourth grade in the district, making it the only elementary school. Previously, the Cattaraugus campus only housed students in pre-kindergarten through second grade while Little Valley housed students in third and fourth grades.

"It is inevitable that this building is going to be closed eventually, whether it is this year, next year, the following year. Budgets get tighter and tighter. We are working harder and harder, we are putting more and more time and effort into trying to make a viable budget," said Jeannette Stein, Board of Education member, before casting her vote to close the school.

Of the seven board members, only two voted to keep the school open. Kent Joesel was vocal during the meeting, voting to keep the building open.

"As a board member, you are only one person on the board, and we are all going to have different opinions. It is a hard job. It's not an easy decision. I am comfortable with my decision," Joesel said.

Jon Peterson, district superintendent, said that although the board had a very tough decision, it did a thorough job weighing the pros and cons of closing the school before voting.

When the Cattaraugus and Little Valley school districts merged in 1998, one of the assurances that the Board of Education made was that schools would remain open in both towns. In closing the Little Valley school, Peterson said that the district looked for a legal opinion to find whether it had to adhere to a previous board's words.

"A future board, this board, isn't bound by the actions of a board in the past, because conditions change. The number of students that we have in our district changed. The demographics of those students have changed, and the needs of the students have changed," Peterson said.

In addition to deciding to close the Little Valley Campus, the board unanimously approved a budget of $23,453,485, which includes a 1.99 percent tax levy increase. The board will be putting its budget to a public vote in May.

"Hopefully taxpayers will say that the board made a good financial decision and a good educational decision and support the budget," Peterson said.

However, if the budget does not pass, the board will have to make changes to its budget before putting it to a second vote. If it were to still not pass, the budget would move to a contingency budget, which would include a number of limitations.

"Fortunately, there aren't a lot of changes we would have to make, since our budget is cut already to be at a fairly low amount, but we would have some work to do to be at a contingency budget," Peterson said.

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Roland-Jones: Surrey game a one-off - ECB.co.uk

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UPenn Schools Louis Vuitton in Trademark Law - American University Intellectual Property Brief

Image Attributed to Enoch Lau

Fashion law has been defined as the “specialized area of law that deals with intellectual property (copyright and trademark law, including brand licensing), domestic and international business transactions, textiles, merchandising, employment and labor concerns, and customs (import/export issues).”? This area of law is rapidly growing, and is very near and dear to my heart.? The chance to practice in this area of law was a major reason I decided to attend law school.

In the last few years, fashion law has garnered much attention in the law community.?? In 2010, Fordham University’s School of Law launched its Fashion Law Institute, where students can merge their passion for fashion with their academic desire to study law. Howard University School of Law’s Intellectual Property Students’ Association recently hosted its first annual Fashion Law Week here in Washington, DC.? Numerous blogs have been dedicated to this specialized field of law.? This area of law is ripe with intellectual property issues, including trademark, copyright, and even patent infringement cases.? And in an ironic turn of events, one law school, which has dedicated its resources to discussing the intellectual property issues surrounding the emerging field, found itself in the middle of a fashion law clash.

This year, the University of Pennsylvania Law School’s Intellectual Property Group focused their annual symposium on fashion law.? In order to gain attention for their event the UPenn student group created a poster, which is a takeoff of the iconic Louis Vuitton Toile Monogram.? The poster uses similar colors to the recognized brown and tan monogram, but replaces the original letters “LV” with “TM,” standing for trademark.? Also, the flower in the famous monogram is replaced with the ? symbol for copyright.? Quite clever, if you ask me.?

However, Louis Vuitton (“LV”) is particularly sensitive about their trademarked Toile Monogram. The French fashion house has been in a number of disputes over their trademark recently, including suing Warner Brothers over featuring a knock-off handbag in the movie “The Hangover Part II.”? After catching wind of UPenn’s symposium poster, Louis Vuitton continued their litigious streak and sent University of Pennsylvania’s Dean Michael Fitts a cease and desist letter.? The letter claimed trademark infringement and dilution, but failed to mention which statutes in particular the University of Pennsylvania violated.? Further, Michael Pantalony, Director of Civil Enforcement at Louis Vuitton, asserted that people will be confused by the poster and could believe that Louis Vuitton was sponsoring the event.? The letter demanded that the law school take steps to change the poster.

However, Louis Vuitton didn’t scare the Ivy League school.? The University of Pennsylvania wrote its own response letter to Mr.Pantalony contending that the student group did not infringe on LV’s trademark and emphasized that the actions taken by the student group are protected under the federal trademark statute.? The response letter claimed that UPenn did not dilute Louis Vuitton’s trademark and cited 15 U.S.C. 1125(c)(3)(c), which excludes any noncommercial use of a mark.? UPenn further asserts that the poster is fair use under 15 U.S.C. 1125(c)(3)(A) and a parody under 15 U.S.C. 1125(c)(3)(A)(ii).? UPenn supported this argument by citing to a case that the fashion house might have some familiarity with.? The response letter cited Louis Vuitton Malletier v. Haute Diggity Dog, LLC, 507 F.3d 252 (4th Cir. 2007), a case where the luxury brand failed to win on either the trademark infringement or trademark dilution charge against a dog toy manufacturer.

The response letter further asserted that there was no violation of 15 U.S.C. 1125(a) because there is no likelihood of confusion.? Louis Vuitton could not be confused as to have sponsored the event or to have been associated with the student group’s symposium.

However, the IP rights of these luxury brands are many times their most important asset, and if their brand is being diluted, their rights should be protected.? One can make the case that the company is just protecting its legitimate trademark; while some argue that Louis Vuitton is acting as a trademark bully.?? In any event, Louis Vuitton could build a little goodwill with this audience in particular.? After all, they are the future lawyers who are interested in these issues and perhaps would like to advocate on the behalf of luxury brands such as Louis Vuitton one day.

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PAC Gives Obama Hitler Mustache in LV Protest - Patch.com

Photos of 2012 Republican presidential candidates wearing clown noses, an Adolf Hitler mustache drawn onto a profile picture of Barack Obama, and brochures about how to create jobs, impeach elected officials and what a LaRouche Democrat was sat on a table outside the Long Valley Post Office on Thursday.

The table, and accompanying information, was manned by Margaret Scialdone and Daniel Burke, two supporters of Diane Sare, a ‘LaRouche Democrat’ running for Congress in New Jersey.?

Sare, according to her website, has been working as a political organizer since the late 1980’s, when she learned about Lyndon LaRouche in Boston.

“We’re more of an insurgency into the Democratic party, than an actual part of it,” said Scialdone. “The Democratic party, since the 1960s, has really just become about sex and cutting budget.”

Passersby honked at the two campaigners and gave a thumbs up, as signs lined Old Farmers Road with the slogans “Stop World War III: Impeach Obama” and “No Bailout – Restore Glass- Steagall.”

When drivers would slow down or enter the post office parking lot, Burke would call to them, “Impeach King Obama. Come over and find out more.”

The two had set up shop, after alerting the Washington Township Police Department, at 9:30 a.m., and would stay until the post office closed on Wednesday.

“People hate Obama,” Scialdone said. “But they’re being brainwashed by the media that they can’t change it. That’s what we’re here for. This isn’t about moving pieces around. We need to completely flip over the chess board.”

Scialdone has been a political organizer since 1984, she said, while Burke is new to the game. He left his full time teaching job in February to dedicate his time to the Sare campaign.

And why the Hitler mustache for the country’s leader?

“Obama is just like Hitler,” Scialdone said. “He’s sending drones into other countries, killing people, including Americans.”

Sare’s supporters don’t discriminate their attacks, however. A photo showing Mitt Romney, Rick Santorum, Ron Paul and Newt Gingrich with superimposed clown noses and wigs reads, “Sick of the Clown Show? Don’t be a BOZO! Join LaRouche PAC.”

In fact, Scialdone said the difference between Obama and the previous administration isn’t very big.

“(Dick) Cheney ran the show under (George W.) Bush for those eight years,” Scialdone said. “Bush was an idiot. But Obama is like the son (Cheney) never had.”

While Sare’s campaign for Congress may be flying under the radar–she had to request her way into an upcoming political debate in Teaneck, Burke said–her supporters are certainly drawing attention, as they showed up in Hopatcong recently.

“Response has been pretty good here,” Scialdone said about traffic flow in Long Valley. “No one has been upset with us or bothered by our message. They've been listening.”

For now, the campaign will continue on, and supporters will drop into individual towns to spread the message.

Thanks. We'll email you the next time we update this story.
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where can i buy louis vuitton bags online louis vuitton purses 1998 louis ... - Portada Magazine

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LV= makes low cost move - Money Marketing

5 April 2012 5:03 pm

LV= Flexible Transitions Account Low Cost Option

Type: Hybrid self-invested personal pension

Minimum investment: Lump sum ￡20,000, additional regular premiums from ￡25 a month

Investment choice: 130 funds from Artemis, BlackRock, BNY Mellon, Fidelity, Henderson, Invesco Perpetual, Investec, J.P. Morgan, Jupiter, Liontrust, M&G Martin Currie, Premier, Schroders, State Street Global Advisers and Threadneedle

Options: Ability to switch to the higher standard charging structure to access other investment options available through the Flexible Transitions Account

Charges: Annual 0.25% for the first ￡1m invested, 0.1% for any amount over ￡1m, plus fund charges depending on funds selected. Establishment fee of 1.2 per cent for each 1 per cent initial commission taken by the adviser can be charged over a period of up to five years

Commission: Subject to negotiation with initial, ongoing and ad hoc options, available on factory gate pricing basis for fee-based advisers

Contact: www.lv.com/adviser

LV= has added a low-cost option to its flexible transitions account Sipp. The low-cost option offers access to 130 LV= pension funds from 16 fund management groups and has a 0.25 per cent annual service charge for investment amounts up to ￡1m. This is 0.3 per cent lower than the standard charging structure for the first ￡75,000 of the amount invested and 0.1 per cent lower for the next ￡925,000. At 0.1 per cent, the annual service charge for amounts above ￡1m is the same as the standard fee structure.

Clients will only benefit from the low fee structure if they start their plan with a single premium of at least ￡20,000; stay invested in insured funds and do not take any lump sum or income benefits otherwise the standard fee structure will be applied.

Independent Personal Financial Management director Luke Gibbon highlights the restrictions that are imposed to achieve the lower costs. He says: “The new pension plan is launched with a headline rate of a 0.25 per cent service charge, but to get this rate a minimum of ￡20,000 needs to be invested. The investment is also restricted to a choice of 130 funds from 16 fund managers.”

Gibbon points out that the 0.25 per cent service charge does not tell the whole story in relation to costs. “In addition to the service charge, there are fund management charges which range from 0.1 per cent a year for the State Street UK equity tracker fund to 2.13 per cent a year total expense ratio for the Jupiter Merlin growth portfolio. And of course adviser charges need to be added in addition to the above costs.”

Overall, Gibbon thinks the charges are competitive but not the cheapest in the market.

“The plan is designed to be RDR compliant and although the fund selection is limited, there is good quality and a wide range of funds available that should be suitable for most clients.? If a wider choice is required then the service charge will rise by up to 0.3 per cent.”

Turning to the potential drawbacks, Gibbon feels the plan will have a limited market, as it needs a minimum of ￡20,000 invested. “But once that has been met, additional contributions as small as ￡25 a month can be added,” he says.

Another possible hurdle for LV= in Gibbon’s view is name awareness, but he adds that the significant television advertising it has recently carried out may help as far as clients are concerned. He also says that although auto enrolment is still a while away, the plan does not lend itself to this new environment due to the initial funding it requires.

“The competition for this plan will come from other? big pension providers such as Aviva, AXA, Scottish Widows and Standard Life. As we draw closer to 2013 I suspect that new plans will be launched which will keep the charges competitive.? Having said that, a comparison I carried out showed that LV= was just 0.2 per cent a year cheaper than Scottish Widows over the illustrative term of 26 years.”

Summing up, Gibbon says: “One final point I would note is that we now have a service charge, fund management charge, advisor ongoing charge and advisor initial charge.? Each provider will have their own service charge, which is likely to reduce as the fund gets bigger, but increase as the investment choice increases.?

“Also different providers may have different investment charges for the same fund.?This is all explained in the LV= literature but I am not convinced this will give greater clarity to clients in the future.”

?BROKER RATINGS

Suitability to market: Average

Investment choice: Average

Flexibility: Average

Charges: Good

Overall 7/10

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Budget time for C-LV School District - Metrowny.com

At the Cattaraugus-Little Valley Board of Education meeting on Tuesday, March 27 and special meeting on Thursday, March 22, the board discussed the 2012-13 budget.

At the Thursday meeting, Superintendent Jon Peterson went over the same numbers and possible solutions for lowering the budget as he previously presented to the board and the public.

Going over some items on the budget, Business Executive Sally Hadley cited a question that was brought up by Board member Kent Joesel regarding the telephone expense. Joesel said that after looking at Allegany-Limestone School District?s budget, their expense for telephones was much less then the C-LV district.

Hadley said the Allegany-Limestone district uses voice-over IP through BOCES. Although it is a minimal cost to their district presently, it costs about $200,000 to set up. Joesel asked Hadley to look into the payback the district would gain if it went with this change and how much would be paid to BOCES for the service.

Other mentions of items on the budget were: board of education budget, legal expenses, business office, secretary and superintendent expenses, curriculum expenses, tuition expenses, technology expenses, transportation expenses, and more.

Board member Heather Gunther asked Hadley if the district overbudgets for unemployment costs. Hadley replied ?no.?

Joesel asked Hadley to also get a list of items that were highly aidable and which were not. Hadley mentioned many BOCES services are 80 percent aidable.

Gunther asked what the aid amount was per student. Hadley will look into the answer.

Joesel asked to look into building and grounds materials and supplies and see if there could be a cut of even 10 percent.

Board member Dave Shinners and Joesel inquired about the amount of overtime put in by the building and grounds department. Also, to find out if mileage on the vehicle used in this department can be minimized.

At the end of the Thursday meeting, Hadley said she would look into budget numbers if both the Cattaraugus and Little Valley buildings were both kindergarten through fourth grades.

At the Tuesday meeting Hadley handed out a sample budget if this were the case. If that were the occurrence, no transitional kindergarten would be sustained due to low numbers.

In addition to the budget numbers, there was an additional expense included in the changes.

However, with projected state aid, piece of the fund balance, and concessions, the gap to reduce lessens, to around $150,000 if Little Valley was left open and appropriate changes were made.

The board has convened at special meetings to discuss important items like the budget and options regarding the budget.

A special meeting is set for Monday, April 9 at 6:30 p.m. at the Cattaraugus Campus followed by the regular meeting on Tuesday, April 10 at 6:30 p.m. at the Cattaraugus Campus.

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