Americans to Eat 1.3 Billion Chicken Wings for Super Bowl 50

first_img Football fans next weekend will consume an estimated 1.3 billion chicken wings on Super Bowl Sunday. The National Chicken Council’s 2016 Wing Report released this week expects fans to eat three percent more wings than last year on game day, or 37.5 million more wings. 1.3 billion chicken wings is enough for every person in the United States to have four wings each. During the 2016 NFL playoffs, in cities where chicken wings sold higher than their opponent, the city with higher wing sales won seven of the ten playoff games and four of the five past Super Bowl games.  If the same holds true for Super Bowl 50,The National Chicken Council says the Panthers will roll over the Broncos, selling wings at nearly a three to one pace.Source: NAFB News Service By Hoosier Ag Today – Jan 28, 2016 SHARE Previous articleClosing CommentsNext articleBeef Producers Continue to Support the Checkoff Hoosier Ag Today Facebook Twitter Americans to Eat 1.3 Billion Chicken Wings for Super Bowl 50 SHARE Facebook Twitter Home Midwest News Americans to Eat 1.3 Billion Chicken Wings for Super Bowl 50last_img read more

Remember the Alamo Bowl

first_imgDean Strakahttps://www.tcu360.com/author/dean-straka/ + posts Men’s tennis clinches consecutive Big 12 titles with win over No. 4 Baylor Another series win lands TCU Baseball in the top 5, earns Sikes conference award Previous articleFrogs stage miracle comeback, defeat Oregon 47-41 in 3OTNext articleSlideshow: TCU overcomes 31-point deficit to beat Oregon in Alamo Bowl Dean Straka RELATED ARTICLESMORE FROM AUTHOR printThe Frogs did the improbable Saturday night in San Antonio, Texas, overcoming a 31-0 halftime deficit to defeat Oregon in the Alamo Bowl, 47-41 in triple overtime.In a tie for the largest comeback in bowl-game history, it was the Frogs who emerged victorious after facing their largest deficit of the year. Without starting quarterback Trevone Boykin, who was suspended after an arrest just two days before the game, the Frogs were able to muster enough energy to come back and stun the Ducks.“It’s just one of those teams,” TCU head coach Gary Patterson said. “They just never quit.”The game was the largest comeback for the Frogs in the Patterson era, as TCU had to  rally back to beat an Oregon team that dominated them in the first half.“The first half we didn’t play very well defensively,” Patterson said.After being shut out in the first half for first time since October 2013 at Oklahoma, and recording a mere 96 passing yards and a total of 142 yards opposed to Oregon first half total of 376 yards of offense, the Frogs seemed all but finished.They were not.“I told them we had an opportunity in the second half to show Oregon what our program was all about,” Patterson said. “We’ve had to do that before. At Kansas State, we were down big and came back.”The turning point came when Oregon starting quarterback Vernon Adams, Jr. left the game late in the closing of the first half of the game due to an apparent injury, forcing Jeff Lockie to come in at quarterback for the Ducks.From there on out it was all TCU, as the Frogs scored 31 unanswered points before overtime.After senior backup quarterback Bram Kohlhausen, who was named the game’s offensive MVP, converted on a 26 pass to Jaelan Austin for the Frogs’ first touchdown of the game to cut the Oregon lead to 31-10, the Frogs caught even more momentum when they recovered a fumble on the ensuing kickoff. Kohlhausen would run into the end zone himself shortly after to make it a 30-17 game.The Frogs would edge even closer when Jaden Oberkrom executed a field goal in the fourth quarter to make it a 31-20 game. After forcing Oregon to punt on the ensuing drive, the Frogs scored again when Aaron Green ran it into the end zone for a two yard touchdown.Rather than settling for an extra point, the Frogs went for two and converted when Shaun Nixon found Buck Jones in the end zone on a reverse pass.With seconds to go in the game and the Frogs once again getting the ball back after forcing an Oregon punt, Jaden Oberkrom knotted it at 31 when he hit a 22 yard field goal.“In the first half we were shooting ourselves in the foot with penalties,” Kohlhausen said. “In the second half we were able to get rolling, pick at that 31 points.”Both teams found the end zone in the first overtime, in which Oregon was forced to convert on 4th down to keep their hopes alive. A field goal by each team would send it into a third. That was when the Frogs came through.After Kohlhausen recorded a rushing touchdown and the Frogs failed to convert on the two-point conversion, the defense came through when it mattered most, batting down an Oregon pass on 4th down to complete a comeback for the ages.“You have to appreciate the leadership in these guy’s heads,” said outside linebacker Ty Summers. “There’s some big shoes to fill. I think we have guys that are going to be ready to fill these shoes in the next season.”Players said the game will be an experience they will remember for a lifetime.“This will be one I’ll tell my grandkids about,” Kohlhausen said. “I mean this is a night I thought would never happen. But I honestly just dedicate this one to Trevone [Boykin]. He was the one who showed me how to play like I did tonight.”The game wasn’t only special for Kohlhausen, who started at quarterback on two days notice. San Antonio native and senior Aaron Green was able to end his career in dramatic fashion right where he learned to play the game.“It meant a lot to win here, but most importantly it meant a lot for me to win my last game in purple with my teammates, with my brothers,” Green said.Green said it was the perfect example of TCU’s will to fight back in a season which the team faced so much adversity, something that extended to previous seasons.“We’ve been through a lot man,” Green said. “Just to be part of us turning this team around in the Big 12 means everything to me. These four years that I have been here is definitely something I will remember forever.”The game will all but certainly go down as one of the greater moments in TCU football’s storied history.“To win a ballgame like this, to come back, you have to have a bunch of plays that happen for you,” Patterson said.And the plays happened for the Frogs. Coach Patterson even dared to change his shirt from black to purple at halftime, a hot topic for TCU fans in the second half.“I did the same thing at [Iowa State],” Patterson said. “I started in black, we were down 21-0. I will never wear black again.”Whether it was some TCU magic or the will of a talented core of players to fight back until the end, the Frogs overcame their ultimate hurdle, and the players can enter 2016 victorious. Linkedin Dean Strakahttps://www.tcu360.com/author/dean-straka/ Dean Straka is a senior journalism major from Lake Forest, California. He currently serves as Sports Line Editor for TCU 360. His passions include golf, God, traveling, and sitting down to watch the big game of the day. Follow him on Twitter at @dwstraka49 TCU rowing program strengthens after facing COVID-19 setbacks Dean Strakahttps://www.tcu360.com/author/dean-straka/ Twitter TCU players celebrate the team’s 47-41 comeback victory over Oregon in the Alamo Bowl. Facebook Dean Straka Facebook Equestrian upsets No. 1 Baylor, swept by Texas A&M at NCEA Championships Linkedin Twitter Dean Strakahttps://www.tcu360.com/author/dean-straka/ ReddIt Norrie climbs to No. 1 in national rankings Equestrian defeated in Big 12 Championship ReddIt TCU baseball finds their biggest fan just by saying hellolast_img read more

Radio reporter held by Al-Shabaab militia for past three days

first_img RSF_en News News Receive email alerts Organisation February 24, 2021 Find out more RSF and NUSOJ call for release of a journalist held in Somalia’s Puntland region January 8, 2021 Find out more News RSF requests urgent adoption of moratorium on arrests of journalists Radio reporter gunned on city street in central Somaliacenter_img March 2, 2021 Find out more to go further Reporters Without Borders joins its partner organisation in Somalia, the National Union of Somali Journalists (NUSOJ), in expressing deep concern about the fate of Ali Yusuf Adan, a journalist who was arrested on 21 February in an area controlled by the Islamist militia Al-Shabaab.“Al-Shabaab, which we have already classified as a ‘Predator of Press Freedom,’ has added yet another misdeed to the long list of violations of free expression that it has already committed,” Reporters Without Borders said. “We condemn this arrest and call for the journalist’s immediate release.”Adan is Radio Somaliweyn’s correspondent in Wanlaweyn, the southern region where he was reportedly arrested over a comment he made on 20 February about a murder by an Al-Shabaab member. He is now believed to be in a prison in the nearby city of Merca.We are unfortunately still without news of him.For more information, see the NUSOJ release:http://www.nusoj.org/?zone=/unionactive/view_article.cfm&HomeID=154390 News Follow the news on Somalia SomaliaAfrica February 24, 2010 – Updated on January 20, 2016 Radio reporter held by Al-Shabaab militia for past three days Help by sharing this information SomaliaAfrica last_img read more

Basque Journalist complains of ill-treatment in custody Reporters Without Borders calls for an inquiry

first_img News Use the Digital Services Act to make democracy prevail over platform interests, RSF tells EU February 28, 2003 – Updated on January 20, 2016 Basque Journalist complains of ill-treatment in custody Reporters Without Borders calls for an inquiry Help by sharing this information RSF_en April 27, 2021 Find out more SpainEurope – Central Asia Journalist Martxelo Otamendi Egiguren, managing editor of the Basque-language newspaper Euskaldunon Egunkaria held for five days in a police operation against the paper’s management, has said he was both psychologically and physically ill-treated in custody.He was among ten members of the newspaper’s staff arrested on suspicion of collaboration with the Basque separatist movement ETA.”We urge you to open an inquiry into these allegations of ill-treatment in custody of the managing editor of Egunkaria and to keep us informed about the condition of former managing editor Pedro Zubiria, who tried to commit suicide”, said Robert Ménard, General Secretary of Reporters Without Borders in a letter to Spanish interior minister Angel Acebes.Reporters Without Borders also reminded him of its opposition to the closure of the Basque-lanaguage newspaper. “We oppose the closure, even temporarily, of the daily Euskaldunon Egunkaria. This move punishes a media, which has done nothing wrong as such and deprives readers of their right to news. Without taking sides on the charges levelled against the paper’s management, we call for the reopening of Egunkaria throughout the legal procedures”, added Mr Ménard.Police arrested ten journalists and members of the newspaper’s board on 20 February 2003 on suspicion of “membership of or collaboration with the terrorist organisation ETA”. The judge also ordered the closure of the newspaper.Four people were freed on bail on 25 February, including the managing editor Martxelo Otamendi Egiguren, while six other management figures have been placed in preventative detention. Pedro Zubiria, former managing editor, is currently in hospital after attempting suicide in custody on 23 February. SpainEurope – Central Asia to go further Follow the news on Spaincenter_img June 2, 2021 Find out more Receive email alerts News Organisation Two Spanish journalists killed in eastern Burkina Faso News News December 2, 2020 Find out more RSF and 60 other organisations call for an EU anti-SLAPP directive last_img read more

Pets of the Week at the Pasadena Humane Society

first_imgCommunity News Pets of the Week at the Pasadena Humane Society Published on Tuesday, July 16, 2019 | 10:59 am Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Business News Community News First Heatwave Expected Next Week Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy 5 recommendedShareShareTweetSharePin it EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Your email address will not be published. Required fields are marked * HerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeauty12 Signs You Want To Stay With Your Girlfriend ForeverHerbeautyHerbeautyHerbeautyWant To Seriously Cut On Sugar? You Need To Know A Few TricksHerbeautyHerbeautyHerbeautyA Dark Side Of Beauty Salons Not Many People Know AboutHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautycenter_img “It’s been summer for WEEKS now, why aren’t you wearing a fashionable summer bandana? Hi, I’m Bruce (A473446), and as you can clearly see, I have amazing fashion sense! It’s not only a great time to show off one’s summer apparel, but it’s also the perfect time for all my favorite warm weather activities. Whether I’m chasing after tennis balls in the sun, having my ears scratched by the pool, or drinking water from the hose, I’ll always look great, no matter what activity I choose. And if you’ve been wanting some tips to up your bandana game, take me home with you and I’ll teach you everything I know! Maybe we can even get matching ones!”The adoption fee for dogs is $140. All dogs are spayed or neutered, microchipped, and vaccinated before going to their new home.New adopters will receive a complimentary health-and-wellness exam from VCA Animal Hospitals, as well as a goody bag filled with information about how to care for your pet.View photos of adoptable pets at pasadenahumane.org. Adoption hours are 11 a.m. to 4 p.m. Sunday; 9 a.m. to 5 p.m. Tuesday through Friday; and 9 a.m. to 4 p.m. Saturday.Pets may not be available for adoption and cannot be held for potential adopters by phone calls or email. Top of the News “Hi, I’m Amanda (A474168)! Hey, are you listening? Or did you get lost in my eyes? It’s OK, that’s been happening a lot lately! I’m definitely a head turner, and on more than one occasion I’ve noticed volunteers stopping mid-walk and coming over to the glass to see me, as if hypnotized by my eyes. That volunteer with the camera was just here the other day, waving her fingers at me while I stared at her. I’m magnetic! And why wouldn’t you want a cat that everyone loves? People will be coming by from far and wide to get a glimpse of me! You’ll make so many new friends! But even if that’s not true, and we live a quiet life without people lined up at the door to see me, I’LL be your friend. And I think that’s pretty great!”The adoption fee for cats is $90. All cats are spayed or neutered, microchipped, and vaccinated before being adopted.New adopters will receive a complimentary health-and-wellness exam from VCA Animal Hospitals, as well as a goody bag filled with information about how to care for your pet.View photos of adoptable pets at pasadenahumane.org. Adoption hours are 11 a.m. to 4 p.m. Sunday; 9 a.m. to 5 p.m. Tuesday through Friday; and 9 a.m. to 4 p.m. Saturday.Pets may not be available for adoption and cannot be held for potential adopters by phone calls or email.***Magic appeared this morning (7/16) and transformed some of our cats and kittens into your favorite Harry Pawter characters. Look for the special kennel cards to identify who is part of this mystical transformation. While under the spell these cats adoptions are free. Don’t wait, for the spell will disapparate on Sunday, July 28. All other cats and kittens are available for a reduced adoption fee of $25 during this promotion. Here are the Pets of the Week available for adoption at the Pasadena Humane Society this week: Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Name (required)  Mail (required) (not be published)  Website  Make a comment More Cool Stuff Community News Subscribelast_img read more

French Press Café staying open

first_img Pinterest WhatsApp Previous article012419_Shooting_jf_04Next article011518_OHS_Permian_Girls_17 Digital AIM Web Support French Press Café staying open Pinterest Facebook WhatsApp Facebookcenter_img Twitter Local News From left, kitchen manager Shyann Register, owner Kristel Tate, and head server Lindsay Sparks pose at the front counter of the French Press Cafe that is going to remain open in their downtown store front. It was in October when French Press Café Owner Kristel Tate announced she was shutting down her downtown business for good. But thanks to a surge of support, they’re staying open and looking to make some improvements. Tate cited a short staff as one of the main reasons French Press Café, 511 N. Grant Ave., had initially closed, which affected how often they could stay open and drum up business on a consistent basis. But thanks to a slight dip in oil prices, Tate said they were able to hire a few more staff members, and social media attention from their announced closure made them busier than ever. “The main reason is we got a lot of support from the community, everybody was like ‘please don’t go,’” Tate said. “We were super busy for like two weeks after all of the media attention.” One of the big reasons they were suffering, despite the outpouring of support, was due to a lack of activity downtown, Tate said. “There’s no rhyme or reason, there just hasn’t been a trend,” Tate said. “The community does want us here, they just for whatever reason aren’t going down there.” French Press Café first made news in February 2016 when they were the first business to receive a downtown infrastructure grant of $51,546 from the Odessa Development Corporation. Tate said they had conducted a Facebook poll on their page to see what they were doing wrong, and many members of the community told them they just didn’t have a good reason to go downtown. “My response was, hopefully that’s changing,” Tate said. “With the revitalization of Odessa downtown, hopefully there will be more down here.” But while waiting for that revitalization to actually take effect, Tate said they are making a few changes to develop a larger customer base. The café will soon begin implementing full-service catering and start renting out the building for events such as baby showers and birthday parties. They are also providing free delivery to anyone downtown for orders of $20 or more. As well as these improvements, Tate said they are working to make sure the public is aware of some of their more convenient services. They offer delivery through the food deliver app Favor, and through another delivery app called Waitr which will be coming to Odessa at the end of January. French Press Café also offers 10 percent discounts to Medical Center Hospital, Odessa Regional Medical Center, and ECISD employees. First responders are also given free drinks and a 10 percent discount on food. “We have regulars that are there every day, we just need more people to come and try it,” Tate said. Tate said they are also looking at adjusting their hours due to mornings not being as busy as afternoons, and possibly also opening on Sundays because of how successful their Saturday brunch hours are. “The downtown Odessa development is going to pick up and go, so we think since we put everything in it — heart, blood, soul, sweat, tears — we owe it to ourselves and the community to at least see it through the next year or so and see what’s gonna happen,” Tate said. “If we don’t have the support of the community, we may be forced into the situation where we are forced to make the hard decision again, but right now we’re all in.” Currently, the French Press Café is open from 7 a.m. to 2 p.m., Monday, Wednesday, Thursday and Friday and from 9 a.m. to noon on Saturday. TAGS  Twitter By Digital AIM Web Support – February 24, 2021 last_img read more

Family of Denis Donaldson to take European Court action

first_img Twitter 75 positive cases of Covid confirmed in North Google+ Previous articleConcern as reports suggest elective surgery is to be scaled back at Letterkenny University HospitalNext articleRoad re-opens after crash which has left a man in critical condition admin By admin – December 10, 2015 Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Google+ WhatsApp Facebook Facebook Twitter Homepage BannerNews Pinterest The family of double informer Denis Donaldson have said they will be taking legal action against the Gardai in the European Court in Strasbourg.In a statement issued last night, the family claim An Garda Siochana failed to properly investigate his murder.Donaldson, 56, was shot dead by gunmen in a rural cottage near Glenties on April 4, 2006.The Real IRA claimed it was responsible.In a statement issued through their solicitor Ciaran Shiels of Madden and Finucane they recalled it was exactly 10 years since Denis Donaldson was first exposed as an agent working for Special Branch and MI5.The inquest into his murder near Glenties in 2006 was adjourned until next April for the 17th time yesterday.The continuing adjournment was granted in Letterkenny by Coroner Dr Dennis McCauley after gardai told him they were following up “significant leads” and they were liaising and had full co-operation from a force outside the jurisdiction.Three hours after the adjournment the family issued a statement that throughout the past decade gardai had refused to investigate any role played by serving or former members or agents of RUC or PSNI Special Branch or MI5 in Donaldson’s murder or his expose as an agent working for M15 and Special Branch.They had refused to interview the Northern Ireland police handler known as “Lenny” who remained in contact with Donaldson after his exposure in December 2005.The statement continued that gardai had refused to co-operate fully with the current Police Ombudsman’s investigation in the north and had not discharged its statutory and moral duty to maintain regular and open liaison with the family about all aspects of this case.The statement added: “A decade on, the Donaldson family’s patience is now exhausted.“The Irish state must be held to account for its violation of our right to a Article 2 ECHR-compliant investigation, just as much as those responsible for causing Denis’ murder and the family’s ordeal.”The family said they would be shortly consulting with legal advisors with a view to securing appropriate remedies at both domestic and European level.They added: “In the meantime, a new complaint is being submitted to the Garda Siochana Ombudsman Commission about grievances highlighted on behalf of the Donaldson family. Family of Denis Donaldson to take European Court action RELATED ARTICLESMORE FROM AUTHOR Denis Donaldson Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Further drop in people receiving PUP in Donegal 365 additional cases of Covid-19 in Republic Gardai continue to investigate Kilmacrennan firelast_img read more

Life-Saving Station to Host Events on Sindia

first_imgThe rescue effort of the Ocean City Life-Saving Station in the 1901 Sindia shipwreck will be discussed during a two-day open house this month. (Photos courtesy of the Ocean City Historical Museum) On the 118th anniversary of the stormy night when the 329-foot sailing ship ran aground in Ocean City, the historic U.S. Life-Saving Station 30 will welcome visitors interested in learning more about the wreck of the Sindia and the rescue of her crew. The restored Life-Saving Station (at the corner of Fourth Street and Atlantic Avenue in Ocean City) will be open from 10 a.m. to 4 p.m. on both Saturday and Sunday, Dec. 14 and Dec. 15. Special guest speakers will give lectures on the Sindia at 10:30 a.m. and 2 p.m. each day. Portions of a Sindia journal found in 1960 will be read, and newly acquired Sindia artifacts will be on display. The lore of the Sindia will be discussed during the events.At the same time, a new Sindia display at the Ocean City Historical Museum (1735 Simpson Avenue) will be unveiled, and photos will be available for purchase. The Sindia came ashore in the surf near 17th Street on Dec. 15, 1901. Surfmen from Life-Saving Station 30 helped bring the crew to safety. The station has been restored and appears as it would have in the era of the Sindia rescue.Visitors will get to tour the Life-Saving Station.last_img read more

Major General David G. Bellon Takes Command of MARFORSOUTH

first_imgBy U.S. Marine Corps Forces, South June 01, 2017 U.S. Marine Corps Brigadier General Kevin M. Iiams relinquished command to Major General David G. Bellon during a change of command ceremonyin Dorak, Florida, on May 22nd, after serving as the commander of MARFORSOUTH since January 2016. Maj. Gen. Bellon was previously the director of the Reserve Affairs Division. Brig. Gen. Iiams is set to be the commander of U.S. Marine Corps Training and Education Command. Brig. Gen. Iiams praised his marines for the progress they’ve made and the impact they have had on the region during his command, telling them the effects of their work would last long after they had all left the command. “We’ve planted the seeds for trees we’ll never see,” Brig. Gen. Iiams told marines. For his part, Maj. Gen. Bellon said he was looking forward to commanding the marines of MARFORSOUTH and working with their partners in the region. He pointed to the various times he had traveled or worked in South and Central America, explaining that his family felt a special connection to the countries they had been to during his time as a marine. “This is a region that our family loves,” said Maj. Gen. Bellon. “And we love it because there are so many layers to the different cultures that we find in the region. And what we’ve found is a common set of values that resonate with our family.”last_img read more

Asset managers criticise pension fund exclusion in systemic risk consultation

first_imgTwo of the world’s largest asset managers have dismissed the exclusion of pension funds in a consultation on institutional systemic risk, as international pressure for regulatory action continues.BlackRock, Vanguard and industry groups dismissed claims pension funds should be exempt from being classed as ‘global systemically important financial institutions’ (SIFIs) as discussions continue on they should be subject to further regulation of capital buffers.The comments came as the Financial Stability Board (FSB) and International Organisation of Securities Commissions (ISOCO) closed its second consultation on methodologies for identifying globally systemic institutions other than banks and insurers.The consultation proposed excluding pension funds when it launched the consultation earlier this year, as it believed funds posed a lower risk to financial stability due to long-term investment plans and their heavy use of asset managers and investment funds. PensionsEurope, the industry representative group, threw its support behind the FSB’s logic.It defended the exemption and said pension funds were primarily governed by social and labour law – with a regulatory framework that required transparency, low leverage and prudent diversification.Vanguard, which has $3.3trn (€3trn) in assets under management (AUM), said the logic for excluding pension funds meant long-tenured mutual funds should also be excluded.The manager said 77% of its assets were held in such funds and it would only be logical to treat pension and mutual funds similarly.BlackRock, an AUM of $4.7trn, said the regulators needed to take a more “holistic approach” which covered activities across the market.The manager said asset managers were just one component and there needed to be a better understanding of asset owners and why they allocated to markets and asset classes.“Regulation needs to be applied across products to be effective. Likewise, investment activities need to be regulated regardless of which entity is managing the assets,” it said.BlackRock added: “Asset managers are not the source of systemic risk. [They] act as agents on behalf of institutional and individual investors and are not counterparty to client trades or derivative transactions and do not control the strategic asset allocation of their clients’ assets.”The UK’s Investment Association (IA), the industry group for the asset management sector, agreed and said all market participants must be considered in its consultation.The IA, however, said pension fund investment strategies, like those of asset managers’, could mitigate threats to financial stability, and it was therefore important to factor in activities and not “exclude ex-ante”.It also said some pension funds employed captive asset managers, pointing out the difficulty in seeing how exemptions from any future regulation would work.“The potential for competitive distortion with non-exempt asset managers is clear,” the IA added.Defending the exclusion, PensionsEurope cited research from the Bank of England and European Commission that said pension funds do not react to short-term market movements nor experience the same issues as other financial institutions during the crisis.“The probability a pension fund fails is very low and rare. They use derivatives only to hedge currency and interest rate risks, and not to speculate,” it said.PensionsEurope also said failure and financial distress of a pension fund does not pose systemic risk because the risks are borne by members or sponsoring employers.It said funds should either be fully funded, or subjected to different requirements to mitigate failure in a case of underfunding.“Potential systemic risks are usually avoided. Consequently, in case of financial distress, other institutions do not bear risks,” it said.BlackRock also condemned the FSB’s blanket approach of looking at AUM to determine systemic importance.The manager said AUM metrics would create false positives and false negatives, and given the transmission channels identified for analysis by the FSB, leverage should be used as a basis over AUM, should the FSB insist on moving forward.last_img read more