HR budget at IBM slashed through e-HR

first_img Comments are closed. Related posts:No related photos. The successful introduction of a global e-HR system by IBM has helped thefirm slash HR budgets by 40 per cent while increasing staff satisfaction. IBM’s HR director for UK and Ireland speaking at the CBI’s International HRExchange Conference in London last week said the HR team has been responsiblefor rolling out an e-HR system to 320,000 employees in 160 countries. Paul Rodgers told delegates that the move to e-HR is saving the company$350m (£238m) a year and has resulted in employee satisfaction increasing fromabout 30 per cent to more than 90 per cent. “Our HR managers’ manual was over 300 pages long, residing incupboards. It hadn’t been updated in years,” he said. “We needed to be able to update systems to suit a rapidly changingbusiness.” Almost all HR administration and ‘paperwork’ is now electronic andself-service. Rodgers said when employees call the HR helpdesk, they are ‘walked through’the intranet to show them how to do it in future. “Employees have a single point of contact and they can get informationvery, very quickly,” he said. HR budget at IBM slashed through e-HROn 4 Jun 2002 in Personnel Today Previous Article Next Articlelast_img read more

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Under threat

first_imgWhile the introduction of greater protection for temps isbeing hailed as good news for workers, it will make the market tougher foremployer and contractor alike. Nic paton examines the likely impact on onehigh-tech playerSharp-eyed football fans watching June’s World Cup would have noticed onename kept cropping up on the pitch-side billboards in Japan and South Korea –Avaya. The New Jersey, US-based company provided telecom and data systems forthe tournament, built the official website and will do the same for the 2006championships in Germany. Although not yet a household name, Avaya employs some 23,000 people aroundthe world, operates in 90 countries and last year generated revenues in theregion of $6.8bn (£4.3bn). Formerly part of US technology giant Lucent Technologies, Avaya was spun offas an independent company in 2000, but can trace its roots back to the middleof the 19th century and the development of telephony services in the US. The company manages more than 100 million voicemail boxes worldwide and is aspecialist in developing call-handling technologies. In Europe alone, itstechnology can be found in more than 3,000 call centres. In the UK, theoperation is considerably smaller, with about 1,000 permanent staff splitbetween its headquarters in Guildford and offices in Welwyn Garden City. On topof this, at any one time the company will employ about 40 to 50 freelancecontractors, normally working on specialist IT contracts. Projects, which normally last up to a year but sometimes beyond that, willoften revolve around developing and maintaining the non-core IT infrastructureor doing things such as working on the corporate intranet or website, says MikeYoung, UK HR director for Avaya. Agency and contract staff are also sometimesused to plug short-term gaps among permanent staff. This modus operandi is now under threat from European employment legislationset to make the market tougher for employer and contractor alike, fears Young.Two key sets of regulations are focusing the minds of HR and employmentprofessionals in the IT contract market. The first is the Fixed-Term Employees (Prevention of Less FavourableTreatment) Regulations 2002, which are due to come into force on 1 October thisyear. These will transpose the European Commission’s Directive on Fixed-TermWork into UK legislation. The regulations will prevent fixed-term employees from being treated lessfavourably than similar permanent employees, and limit the use of successivefixed-term contracts. Fixed-term employees will have the right to be treated inthe same way as permanent staff on comparable contracts in areas such as pay,pensions and other benefits, unless the employer can justify it otherwise. The regulations will cover those working under a contract of employment fora specified term or those working on a contract that terminates automaticallyon completion of the project or at a particular event. Battle lines This will mean where a comparable permanent employee receives, or isentitled to, pay or another benefit, a fixed-term employee should be entitledto something similar, bearing in mind the length of contract and the basis onwhich that pay or benefit is offered. Fixed-termers will also have the right tobe informed by their employer of any available vacancies. The other area of concern is the European Parliament and European Council’sdraft directive on working conditions for temporary and agency workers. Battlelines are still being drawn up over this, with employers’ bodies and some inGovernment expressing deep concerns about the effect this directive could haveon the UK. It would mean employers and agencies having to ensure temporary workers –employed by an organisation for six weeks or longer – have the sameremuneration rights in areas such as pay, pensions, paid holidays and healthinsurance as permanent workers doing comparable jobs. The directive is designed to protect low-paid agency staff. But contractorsin the IT and technology sectors claim, with some justification, that they area completely different breed from, say, contract cleaning or catering staff. IT contractors are normally highly-skilled workers who have gone intocontract work because it is their preferred mode of employment. They relish itsflexibility and prefer cash upfront to a pension, paid holiday or any otherbenefit on the table, argues Young. “Rates of pay will be higher than for permanent staff,” he admits,an issue that, some contractors explain, can cause resentment among permanentstaff. But contractors, in return, are not covered by the rest of a company’sterms and conditions and have less job security. “You are employing people to do things that are specific and need to bedone, but are not necessarily seen as core to the business. When we are lookingat a core activity, we tend to look at the permanent option first. Contractworkers are useful to the business because it means you can exercise a degreeof flexibility. You have a high degree of flexibility because you havecontinuity through defined pay and time, but you do not want those skills on apermanent basis. You might, for instance, want to outsource that activity inthe future,” he adds. One of the main challenges for an organisation that uses contractors on aregular basis is dealing with the skills gap that can develop when anyone hasbeen working with permanent staff for a period of time has to be let go.”At a human level, when you have people around the office, they do get tobe valued as people. They understand the business and they are very importantto us. By its nature, the way the law and the rules drive us, you cannot employthose people beyond a certain time. After a year, you are starting to hit allsorts of requirements. So people say we are going to be losing those skills andknowledge after a year. “It is hard, but after that period, we tend to make the decision tomake the change. As a result, HR will often get accused of harming thebusiness, but in fact what we doing is protecting the business, looking out forit,” he explains. When the fixed-term regulations come into force, the most obvious likelychange is that employers will increasingly look to co-ordinate their contractrequirements through agencies rather than directly with individual contractors,Young predicts. “Individuals will not have so many opportunities to jointhe company directly. Rather, we will be working with suppliers exclusively,not individuals,” he forecasts. Relationship shift The main reason for this is that, if other benefits are going to have to beoffered, there will be more pressure to drive down rates. Pay will be morelikely to be set to take into account any other benefits that are on offer atthat organisation. It saves time, hassle and paperwork to negotiate rates through an agencyrather than individually with each contractor, so the primary relationship willshift towards the supplier. “People like us are going to take a much more cautious line about whatwe do,” Young says. “At end of the day, we are employing contractorsfor cost reasons and flexibility reasons,” he adds. Contractors generallywould prefer a higher rate to pension provision – they will normally have theirown pensions anyway and will not want to build up a stack of differentpensions, he suggests. The same goes for other ‘fringe’ benefits such as sickpay or holiday pay. The draft directive on agency and temporary workers, if it becomes law inits current form, will also be more of a burden than a boon, he expects. Employers will have to assess much more closely the skills they havein-house, what they need and what is available to them. Organisations may lookmore closely at simply outsourcing operations or even boosting their in-housetechnical operations. Although agencies have a key role to play in keeping rates low, conversely,if agencies become more prominent and, for instance, a standard rate is introduced,the flexibility that is a key selling point of contract staff could disappear.”With a standard rate, it would be harder to bargain,” says Young. Contractors, too, are likely to find less flexibility and opportunity in thenew arrangements. “There won’t be the opportunity for them to jump aroundso much. They will have to get into employment-type relations with theco-ordinating agencies, which may not suit them. And I do not see that thiswill encourage more permanent employment, because that is not why contractorsget into it,” he says. In the longer term the worry is that if contracting as a profession becomesless attractive and lucrative, fewer bright graduates will be attracted to it.This will mean a smaller pool of talent to draw on and employers may be forcedto take more activities in-house. What is clear, however, is the status quo clearly is set to give way.”It is going to change, of that I am certain,” says Young. Theprimary driver of the amount of contract work undertaken will remain,inevitably, the market. But under the fixed-term regulations organisations willhave to look much more closely at how they protect their costs before makingthe decision to employ contract labour. Organisations such as Avaya, which are committed to working within therules, recognise the need to have legislation in place to protect low-paid andexploited contract and agency workers. But while well-meaning, suchheavy-handed legislation could well have the opposite effect to that intended,at least in the IT contractor market. By not taking account of the pressuresand constraints of the markets such as Avaya’s, the regulations could end upmaking a valuable and flexible labour market less flexible, more insecure anddistinctly less inviting. “Quite often, for an employer, the decision to take on a contractor isnot as difficult as the decision to take on a permanent member of staff simplybecause you can turn it on and off,” explains Young. “But if it becomes more problematic, what you might find is peoplesimply putting projects off or finding some internal way of doing them.” Under threatOn 1 Sep 2002 in Personnel Today Comments are closed. Previous Article Next Article Related posts:No related photos.last_img read more

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Sexist air controllers ad runs into some turbulence

first_img Previous Article Next Article National Air Traffic Control Services has been forced to apologise to staffafter a controversial recruitment advertisement placed in Loaded magazine wasaccused of being sexist. It features alongside adverts for cannabis seeds, sex lines and sex websitesin this month’s issue of the archetypal lads magazine. Entitled ‘Bird Watching’ it shows a picture of two men leering and askspotential applicants to “imagine the bird you’re talking to is a Boeing747,” adding “you have a rare knack for visualising information in3D”. David Luxton, national secretary of Prospect Union which representscontrollers, has sent a complaint to the NATS chief executive. “Airtraffic controllers are broad minded but this is clearly offensive and veryinsulting, especially to women. It’s so blatantly sexist. Air traffic controlis supposed to be a top class profession – not a top shelf one.” Management at NATS has published a hurried apology on the company intranetafter complaints from employees – 25 per cent of whom are female. A spokesman for NATS said it hoped to recruit 130 new controllers this yearand this was an attempt to attract younger staff. “While the intention was good, the advertisement and where it wasplaced in the magazine was not. We’ve apologised to our staff unreservedlybecause the advert was inappropriate,” he said. The news comes as another blow to the beleaguered service following staffingproblems, a pay dispute, computer failures and a disastrous move to its new£623m base at Swanwick. Sexist air controllers ad runs into some turbulenceOn 24 Sep 2002 in Personnel Today Related posts:No related photos. Comments are closed. last_img read more

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No small change transforming payroll systems

first_img Previous Article Next Article The requirement for mandatory electronic filing of end-of-year returns couldbe seen as an imposition, but introducing e-filing for payroll systems couldtransform the way you work.  Liz HallinvestigatesThe rash of new government initiatives – such as mandatory electronic filingof end-of-year returns – combined with mounting pressure to be cost-efficient,is forcing employers to take a long hard look at how they run their payroll.The deadline for e-filing to the Inland Revenue is just overtwo years away for organisations employing more than 250 staff. Those that failto comply will face penalties of up to £3,000 on top of the existinglate-filing penalties. Meanwhile, this April brings a shake-up to working parents’schemes with changes to Statutory Maternity Pay, and the introduction ofStatutory Adoption Pay and Statutory Paternity Pay. It also sees the start ofWorking Tax Credits, and changes and hikes in National Insurance contributions.Jill Owen, exchequer manager of Liverpool University – whichemploys 4,800 staff and has responsibility for 1,200 pensioners – says:”There has been an unprecedented run of legislation all coming at once toplan in and process, which is not easy. Sometime soon there will come thestrain that breaks the camel’s back.” Kate Upcraft, policy and research manager of payroll body theInstitute of Payroll and Pensions Management (IPPM) says it is big decisiontime for businesses in terms of payroll. Do they join the ranks of Kent County Council andtelecommunications firm Cable & Wireless, which have chosen to outsourcepayroll? Do they seize the chance to buy in a new system or upgrade an existingone? Or do they opt for a shared services set-up with other non-core functions,like retailer Marks & Spencer?Upcraft, former payroll legislation manager at Marks &Spencer, believes the e-filing target is not achievable for many employers.”Many employers’ systems do not have the technological capability topresent information via the net, and a lot of our members are looking atoutsourcing or buying in new systems to support e-filing,” she says.Owen is among those employers concerned that their existingsupplier may not technologically be sufficiently on the ball to match the newlegislative requirements. Liverpool University’s supplier is a higher educationinstitution, which also supplies bespoke payroll software to seven other highereducation institutions. ”I know I am not the only payroll manager lacking inconfidence. But it would be incredibly costly to change systems, so that isvery much in the melting pot,” Owen says.IPPM’s Upcraft says: “Even with existing software, thereis a direct bottom line cost to moving to e-enablement. If you couple this withthe purchase of a new payroll system, it is extremely significant.” A growing number of organisations are deciding it is mucheasier to just hand payroll over to a third party. Debbie Monk, payroll managerat Microsoft, says: “The average payroll person now has to know so much todo payroll in-house, and more and more are saying ‘here are the starters andleavers, you do it’.” Local governmentorganisations and those in the financial services and retail sectors areshowing the most interest in outsourcing payroll and other HR services,according to a survey by Capita Payroll Services last year. The survey of 100 firms also finds that managed services –which currently takes up 45 per cent of the payroll outsourcing market – is setto grow by 15 per cent. Bureau services, which takes up another 45 per cent, islikely to stabilise, and ASP services – the remaining 10 per cent – is set togrow by 20 per cent. To meet e-filing requirements, employers must submit theirend-of-year returns (P35 and P14 forms) by internet service for PAYE, orElectronic Data Interchange (EDI) service, or by using an intermediary, such asa payroll bureau or agent. One of the early adoptersof e-filing, high street retailer WHSmith, opted to keep payroll in-house byupgrading its Cyborg system. But it still needs new software to comply with thechanges and will be stepping up its staff training. “Our system is solid and robust enough to cope, but wewill look at our internal processes, such as what data we have to collect andhow we get it onto the system,” says Yvette Lamidey, group compensationsmanager.She says that setting up e-filing was by no means painless andat times very frustrating, especially as the retailer had to deal with threeexternal points of contact: the payroll supplier, the Value Added Network (VAN)software supplier and the Inland Revenue.Since taking the electronic plunge in April 2000, WHSmith hasembraced electronic P45 and P6 forms as well as P14s – end-of-year returns. Ithas reaped tangible benefits. The total amount of work saved by using the P6message – opening and distributing the post, checking the payroll numbers andentering and checking data – is the equivalent of one full-time employee. “While I have not cut a ‘post’ per se, it certainly helpedwith reducing the need for an additional post a few years ago, and in saving onposts through natural wastage over the past 12 months,” says Lamidey.W H Smith currently uses a Value Added Network (VAN) to sendinformation to the Inland Revenue. It is now looking at ways to reduce themailbox  costs which, due to theorganisation’s high turnover, are very expensive. It would then use EDI throughits own box instead of a VAN. “It’s a business decision whether to use EDI, EDI throughan ISDN line or internet, or VAN. It depends on the individualorganisation,” says Lamidey.She says it is important to treat the exercise as a properproject, making sure sufficient resources are allocated with enough time setaside. “If you start early enough you will get payback on P45s and P6s.Yes, you will have to do work on testing P14s, but that is just a part of thepuzzle.”WHSmith is now looking at bringing in student loans and taxcredits to reduce paper handling even further. Significant benefitsScotland-based Standard Life has also seen significant benefitssince introducing electronic filing 18 months ago. It is saving noticeably onmanual resources – previously, it took about two weeks a year to input all thetax updates. It now takes around six days.The financial services company pays around 12,500 staff,including pensioners. It uses Employers’ Electronic Communication (EEC), alsoknown as EDI, to process P45s and P6s, and to electronically receive P9s – ortax code changes – from the Inland Revenue.Standard Life was able to use its existing system, Unipay, fromRebusHR. It is also well-placed to deal with imminent changes to statutorymaternity pay, paternity and adoption pay, as it already pays the latter. It isnow looking closely at how to further improve its payroll operation bystrengthening the emphasis on electronic processing, and handing overresponsibility to staff. “We want to improve procedures, looking at process mappingand what the customer is telling us, so that we can offer excellent customerservice and cut costs,” says Julie Wilson, payroll manager at StandardLife.Plans for the future include imlpementing self-service options– such as the facility for staff to update their bank details online, which isexpected to go live in the Spring – and expanding the e-filing system toinclude student loans. David Barr, head of HR operations – which encompasses payroll –says: “As we move forward, we will be making self-service the key thing sothat people have greater access to information. This will sort out lots of thecalls and letters we get, whereas now, we have to go back and manually adjustthings. We want to make the process as slick as possible.” It was this desire to give more control to staff, combined withthe need to achieve e-government goals, which led Ipswich Borough Council tointroduce a state-of-the-art system. The council, which employs 1,300 staff, has signed a £300,000deal with RebusHR to provide a fully integrated HR and payroll solution. Theseven-year project ties in with the council’s decentralised approach to peoplemanagement. “Our main objective was to take the service to employeesso they could access non-confidential information, such as payrollrecords,” says Julie Price, head of HR for Ipswich BC. “It was alsoour objective to do e-government and gradually eradicate paper.”Marks & Spencer was recently forced to rethink how it runsits payroll and other non-core functions when it moved its London headquartersfrom Baker Street to a smaller site in Paddington, which housed 1,800 staffinstead of 3,000. It had to choose between outsourcing, or keeping payrollin-house, but operating from a different location.When the retailer examined benchmarking statistics, itestablished that in terms of cost per payslip, it was one of the top fivecompanies. It also had a very good ratio of 25.5 full-time employees to 63,000static staff (110,000 staff going through payroll). Keeping payroll in-housemade the most sense. Along with other non-core parts of the business, it issetting up a 64-strong shared services division in Manchester’s Salford Quay,which goes live in September.Like so many organisations with vast workforces, M&S usesRebusHR’s tried-and-tested Unipay and Uniper systems. Sandra Carr, head of HRshared services, says: “It’s old technology, but along with Oracle, it isone of the few that can cope with such large numbers of employees.”The company also uses PIMS . But it will be using PeopleSoft’score ERP solution for its state-of-the-art HR system of the future. “The PIMS personnel management system is a really oldsystem that has a lifespan of about another 18 months. At the moment, thepayroll system is the only one true source of data, with PIMS, PeopleSoft andthe pensions system all feeding into it. However, this is not where we want tobe,” says Carr, “so we need to get PeopleSoft fullyoperational.” M&S uses PeopleSoft’s HR, Learning and Recruitment modulesat head office and its eight recruitment centres. It then has another 43 sitespicking up HR administration through the PIMS system, which it retains for itstime and attendance element, which drives and feeds payroll. “As soon as we find a time and attendance productcompatible with PeopleSoft, or if we go for their new version, it would meanthe 43 PIMS sites will no longer have to exist,” says Carr.”I think of our payroll as a Brussels Sprout, with a coreand all these bits such as legislation changes all hanging off. It all lookshellishly complicated and we need to dumb down,” she adds.Although it is early days, a growing number of companies areexploring the possibility of single international payroll applications. M&Sis currently looking at PeopleSoft’s global solution, but is waiting for moreevidence that it works well. Another player in this field is LogicaCMG, who hasbeen working closely with SAP to offer an international pay service coveringaround 38 countries. The attractions of a single international payroll solutioninclude greater economies of scale and the avoidance of managing lots ofsuppliers in different countries. In the increasingly complex minefield that ispayroll, the search is on for ultimate simplicity.                     Changing affecting payrollFrom April 2003 – National Insurance (NI) contributions will increase by an additional 1 percent on earnings above £89 a week. For senior staff, there is no longer a true annualmaximum amount of payable NI. Employees with additional directorships now haveto pay 1 per cent on all earnings, whatever the source – Child Tax Credit – paid directly to the carer replaces Children’s TaxCredit – Working Tax Credit – paid through the wage packet – replaces WorkingFamilies’ Tax Credit, Disabled Person’s Tax Credit and New Deal 50 plusEmployment Credit – Changes to Statutory Maternity Pay, and the introduction of StatutoryAdoption Pay and Statutory Paternity Pay From May 2005 – Mandatory electronic filing of end-of-year returns for employers with morethan 250 staff www.inlandrevenue.gov.ukwww.gateway.gov.uk Comments are closed. No small change transforming payroll systemsOn 11 Mar 2003 in Personnel Today Related posts:No related photos.last_img read more

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HR to play vital role in boosting UK productivity

first_img Previous Article Next Article HRcan play a vital role in helping to plug the productivity gap which is plaguingthe UK economy.Thatis the prediction of The Work Foundation’s chief executive Will Hutton, whobelieves many organisations have over-simplified the reasons behind poorproductivity levels.Heargues that poor UK productivity – which is 20 per cent lower than the US and25 per cent lower than parts of Europe – is the combination of a multitude offactors.”Weneed to develop a new approach to understanding productivity at a corporate,industrial and sectoral level,” he explained.Huttonsaid a successful HR department is able to drive up company performance, and inturn, its productivity.”Weneed a more subtle understanding of this. If you get the HR dimension of an organisationright, there are measurable consequences for performance.”Tounderstand performance, a company must look at five key areas: its market,shareholder value, stakeholder value, HR and management, Hutton claimed.Hesaid HR must make good performance across all five areas the norm, not theexception.Inaddition, he said there needs to be a common vocabulary to explain peoplevalues to investors, and a greater business building culture.Healso accused UK bosses of being short-sighted, and hit out at the “povertyof ambition”.TheWork Foundation is looking into productivity for the DTI. HR to play vital role in boosting UK productivityOn 20 May 2003 in Personnel Today Comments are closed. Related posts:No related photos.last_img read more

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SB1

first_img Link to article SB1Link to article SB2Link to article SB3Link to article SB4   mktoMunchkin(“589-ITG-580”); Previous Article Next Article Comments are closed. Related posts:No related photos. SB1On 18 Aug 2009 in Personnel Todaylast_img

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Upper East Side trophy property tops luxury deals — again

first_imgShare on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Email Address* 109 East 79th Street and 1010 Park Avenue (Google Maps)An Upper East Side resident who jotted down the number of a developer after seeing it posted at a construction site has brokered the biggest luxury deal last week in Manhattan.The unnamed buyer and soon-to-be owner of a penthouse at 109 East 79th Street negotiated the deal directly with Cathy Franklin at Corcoran Group, who is handling on-site sales, according to the latest market report from Olshan Realty. The unit was last asking $32.5 million.The contract was one of 27 signed in Manhattan last week for properties asking $4 million or more, suggesting the momentum that started to build at the end of last year might be here to stay.“It’s encouraging signs,” said Donna Olshan, who noted that discounts, low interest rates and news of the Covid-19 vaccine all played a role. “It’s a more optimistic landscape than we’ve seen.”The 79th Street building, which is expected to be completed in 2022, was developed by Legion Investment Group’s Victor Sigoura, who previously worked for Naftali Group. The penthouse that went into contract has five bedrooms, five and a half bathrooms and three terraces.As Manhattan’s luxury market slowly finds its footing, trophy properties on the Upper East Side are proving particularly popular. In the last 10 weeks, sponsor units in the neighborhood have topped the list of contracts signed six times.“Everyone was saying they are leaving New York,” said Franklin. “And now they are all coming back.”Read moreHFZ’s Ziel Feldman sells Hamptons home for $50MOne57 condo sells at record 51% lossJordache’s Ralph Nakash buys Rockefeller pad for $9.9M Full Name* Tagscondo marketdonna olshanManhattanNYC Luxury MarketResidential Real Estatecenter_img Share via Shortlink Despite the bump, activity in the luxury market is not even across the board: In the last three weeks, condos have outsold co-ops 43 to 5, Olshan said. In the same period, there were 11 townhouse deals.The second-priciest deal last week was a 9th-floor unit at Extell Development’s 1010 Park Avenue.Purchased by a New York family, the unit was last asking $15.9 million, down from $18 million when it was listed in 2017. It measures 3,881 square feet and includes four bedrooms and four and a half bathrooms.“There was pent-up demand and there are some very good large properties out there that are selling,” said Hilary Landis of Corcoran Group, who represented the developer with Beth Benalloul.“There’s a pool and only 11 apartments in the building,” she added. “In Covid times, a small boutique building is often more desirable.”Contact Sylvia Varnham O’Regan Message*last_img read more

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JLL earnings fell 24% in 2020

first_imgJLL CEO Christian Ulbrich (Photo via Jll/Twitter; Photo Illustration by Kevin Rebong for The Real Deal)JLL’s earnings fell by nearly a quarter in 2020, driven by a sharp decline in leasing revenues.Adjusted EBITDA fell 24 percent last year to $860 million, the global brokerage announced Tuesday.The drop was led by a decline in fees from leasing activities, which plunged 26 percent to $1.8 billion. Fees from capital markets deals fell 11 percent to $1.3 billion.JLL CEO Christian Ulbrich said during the company’s fourth-quarter earnings call Tuesday morning that he expects building sales and debt placement to pick up more quickly this year than leasing activity, especially in places such as Europe where lockdowns are restricting activity.“We are overall much more optimistic for the capital markets outlook than we are for the leasing outlook,” he said.JLL paid down its net debt from $861 million at the end of 2019 to $192 million in the fourth quarter of 2020.The company achieved about $330 million in savings last year through a combination of salary cuts, layoffs and government aid. Contact Rich Bockmann Message* Share via Shortlink Email Address* Full Name*center_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags JLLlast_img read more

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A new supercontinent self-destruct mechanism: evidence from the Late Triassic–Early Jurassic

first_imgWe present a new conceptual model where supercontinents, by focusing subduction on narrow areas of the 670 km mantle discontinuity, trigger superplume events and initiate their own fragmentation. This supercontinent-triggered superplume mechanism for continental break-up is examined in light of the Mesozoic fragmentation of Pangaea–Gondwana. We summarize the evidence for a superplume event that occurred between 227 and 183 Ma ago, during the Late Triassic–Early Jurassic break-up of Pangaea–Gondwana. The evidence reviewed includes flood magmatism, kimberlite emplacement, plate reorganization and tectonism (including ophiolite obduction events), reversal rate frequency of the geomagnetic field, marine anoxia, deposition of carbon-rich sediments, including oil source rocks and coal, the carbon isotope record, major mass extinctions, and global sea levels. This Late Triassic–Early Jurassic superplume event was comparable in scale with those in the late Proterozoic (c. 800 Ma) and during Cretaceous times (c. 120–80 Ma). Similar to the mid-Cretaceous event, an extended phase of plume magmatism is implicated, with two oceanic and three continental large igneous provinces being emplaced.last_img read more

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On the robustness of emergent constraints used in multimodel climate change projections of Arctic warming

first_imgStatistical relationships between future and historical model runs in multimodel ensembles (MMEs) are increasingly exploited to make more constrained projections of climate change. However, such emergent constraints may be spurious and can arise because of shared (common) errors in a particular MME or because of overly influential models. This study assesses the robustness of emergent constraints used for Arctic warming by comparison of such constraints in ensembles generated by the two most recent Coupled Model Intercomparison Project (CMIP) experiments: CMIP3 and CMIP5. An ensemble regression approach is used to estimate emergent constraints in Arctic wintertime surface air temperature change over the twenty-first century under the Special Report on Emission Scenarios (SRES) A1B scenario in CMIP3 and the Representative Concentration Pathway (RCP) 4.5 scenario in CMIP5. To take account of different scenarios, this study focuses on polar amplification by using temperature responses at each grid point that are scaled by the global mean temperature response for each climate model. In most locations, the estimated emergent constraints are reassuringly similar in CMIP3 and CMIP5 and differences could have easily arisen from sampling variation. However, there is some indication that the emergent constraint and polar amplification is substantially larger in CMIP5 over the Sea of Okhotsk and the Bering Sea. Residual diagnostics identify one climate model in CMIP5 that has a notable influence on estimated emergent constraints over the Bering Sea and one in CMIP3 that that has a notable influence more widely along the sea ice edge and into midlatitudes over the western North Atlanticlast_img read more

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