'Angry' Avery gets dumb and dumber


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The National Hockey League has suspended Sean Avery for six games, and he'll also undergo anger-management counselling, after the Dallas Stars winger's sloppy choice of words on the relationship status of an ex-girlfriend and a Calgary Flames defenceman. Simply put, there's a lot of stupid to go around in this one. Let's start with Avery (with whom stupid has started before). First of all, the distasteful quote in question was so obviously contrived and staged, you almost want to suspend him six games for bad acting. Avery, with a half-smile on his face, waved the TV cameras over and mock-eyebrow-raised his way through his little charade, curiously wondering how it has come to be "a common thing in the NHL for guys to fall in love with my?" and, well, you know the rest.

Dumb, Sean. And it's even dumber because Avery planned what he was going to say, and then said it anyway, perhaps thinking it would be perceived as funny or at least add to his bad-boy persona. It was just a dumb move, no class, no respect. The Stars, though, deserve a share of the blame, especially co-general manager Brett Hull, who had roomed with Avery when the two played in Detroit. The prolific-scorer-turned-GM reportedly was a driving force behind Dallas' decision to sign Avery as a free agent last summer - despite the fact Stars players expressed concerns about whether Avery could fit in.

Avery's reputation, let's say, preceded him. His ability to contribute on the ice - as a physical force, as an effective agitator and, yes, as a capable player in the offensive zone - has been overshadowed by the circus act that sometimes arrives with him. While he's never been suspended for a violent act on the ice, he definitely plays on the edge and there's a long list of foot-in-mouth incidents. But the fact is, he can play. And, while it's a line that Avery appears incapable of walking, the NHL desperately needs some colourful players who will stand up and say some interesting things that will engage and entertain the public.

Anyhow, back to more stupid. I'll confess, I was surprised when the NHL immediately suspended Avery "indefinitely" after his boneheaded comments. The remarks were way off-base - and tasteless and sexist and pathetic and everything else - but still, it took a moment for me to wrap my (male) brain around the league coming down so hard, so soon, for the idiotic uttering of a loaded phrase. If you consider what the league has done, though, it makes a lot of sense. Avery was the perfect opportunity to make a statement, to make it clear to the rest of the players that the NHL won't stand for misogynistic insults.

He has a history of mouthing off, and everybody knows it. Not to mention, had Avery played and had Dion Phaneuf - the reported boyfriend to Avery's ex, actress Elisha Cuthbert - gone after him and some sort of big brawl and/or serious injuries resulted?well, this current controversy would pale in comparison to the media firestorm that would have ensued. But anger-management counselling? Sorry, NHL, but we're not swallowing this one. It's hard to accept this as anything but a PR move from a league that allows fighting and is currently trying to figure out how to get players to stop driving each others' heads through the boards.

How about some anger management for the stick swingers and the sucker punchers and the cross-checkers-in-the-back? I mean, Avery wasn't being angry; he was being dumb. Is there dumb-management counselling? sports@thenational.ae

Name: Colm McLoughlin

Country: Galway, Ireland

Job: Executive vice chairman and chief executive of Dubai Duty Free

Favourite golf course: Dubai Creek Golf and Yacht Club

Favourite part of Dubai: Palm Jumeirah

 

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

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  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
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Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

ENGLAND WORLD CUP SQUAD

Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jos Buttler (wicketkeeper), Tom Curran, Joe Denly, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood

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FIGHT CARD

Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)

Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)

Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)

Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)

Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)

Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)

Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)

Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)

Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)

COMPANY PROFILE

Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar

Based: Dubai, UAE

Founded: 2014

Number of employees: 36

Sector: Logistics

Raised: $2.5 million

Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE